Stocks To Watch: Amazon.com, Apple, GE, Microsoft, Pepsi
Today's top stories and some stocks with potential to move...
Stocks to watch for Wednesday, July 25:
- Amazon.com (AMZN) saw its second-quarter earnings more than triple from the same period last year as sales grew and the level of expenses was trimmed from the previous year.
- Anika Therapeutics (ANIK) received marketing approval for its injectable soft-tissue filler for wrinkles and scar remediation from the Food and Drug Administration. Anika said the product is licensed to Galderma Pharma SA, which will launch it worldwide under its brand name, Elevess.
- Apple (AAPL) shares fell 6.1% Tuesday after AT&T (T) reported figures for iPhone service that disappointed Wall Street's lofty forecasts. Apple reports earnings this afternoon.
- Boston Scientific (BSX) said that as part of an ongoing review of the medical device maker's assets it's considering selling its fluid management business.
- Cheesecake Factory (CAKE) reported second-quarter net earnings of $23.7 million, or 33 cents a share, up 1.1% from $23.4 million, or 30 cents a share, in the year-ago period. The restaurant operator said revenue in the 13 weeks ended July 3 rose 16% to $373.2 million from $322.6 million in the comparable period last year.
- GE (GE) is set to announce $1.8 billion in energy-related orders from the Mideast, one of the company's fastest-growing markets.
- Microsoft (MSFT) said on Wednesday it will pipe advertisements into a slate of popular sports video games from Electronic Arts (ERTS), including its best-selling "Madden" football franchise. The deal, which also covers EA's "NASCAR," "Tiger Woods" golf, "NHL" hockey and upcoming "Skate" skateboarding games, is a significant win for Microsoft as it tries to build an early lead over rivals such as Google (GOOG) in putting ads into video games.
- Bancroft advisers are calling for a decision soon on News Corp.'s (NWS) bid for Dow Jones (DJ), but the outcome appears too close to call.
- NutriSystem's (NTRI) second-quarter net income rose 70% to $33.5 million, or 96 cents a share, from $19.8 million, or 53 cents a share, a year earlier on growth in the core women's market. The provider of weight management and fitness products said revenue rose 61% to $213.6 million from $132.6 million.
- Pepsi (PEP) plans to roll out two health and water-based drinks and overhaul another brand amid concern about Gatorade sales.
- Snap-On's (SNA: News, Quote) second-quarter net income more than tripled to $43.8 million, or 74 cents a share, from $11.8 million, or 20 cents a share, a year earlier, boosted by the diagnostics & information group. The tools and diagnostics company's second-quarter earnings from continuing operations rose to 90 cents a share from 60 cents a share a year earlier. Revenue rose 15% to $711.9 million from $621.7 million a year earlier.
- United Community Financial (UCFC) agreed to acquire PVF Capital (PVFC), a bank holding company, for total consideration valued at $130.8 million, or $16.21 a share, in cash and stock. Under the agreement, shareholders will have the option of exchanging each PVF share for $18.50 in cash, 1.852 shares of United Community stock, or a combination of $9.25 in cash and 0.926 shares.
- Wells Fargo (WFC) boosted its quarterly dividend 11% to 31 cents from 28 cents. The San Francisco financial services company said the dividend is payable Sept. 1 to stockholders of record Aug. 10.
- XM Satellite Radio (XMSR) said that Chief Executive Hugh Panero will resign from the company in August, a sudden departure that comes as the company's proposed merger with rival Sirius Satellite Radio is being considered for approval by U.S. regulatory agencies.
- Asian trading closed with the Hang Seng -0.47%, Nikkei -0.80%, Sensex -0.61%, Taiwan -0.04% and Shanghai +2.70%.
- A quick check of European bourses finds the CAC -0.48%, DAX -0.82%, FTSE +0.12%, ATX -0.59%, Swiss Mkt. -0.46% and Stockholm -0.74%.
- Crude oil is trading lower -0.19 to 73.37 and gold is down -7.1 to 677.7 this morning.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
Daily Recap Newsletter