Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Spotlight Stocks: eBay, Freddie Mac, Hewlett-Packard, Target


Wednesday's top stories and stocks with potential to move.


Stocks to watch for Wednesday, August 20, 2008:

  • eBay (EBAY) is reportedly lowering its fees related to fixed-price items for U.S. sellers to improve the balance between buyers and seller. Reuters reported that instead of charging sellers to list each item separately, eBay will charge 35 cents to list any number of the same types of fixed-price items.

  • Freddie Mac (FRE) was forced into an offering of unusually rich terms to investors in a $3 billion auction of its debt, reported The Wall Street Journal. The belief is growing that FRE and Fannie Mae (FNM) will be bailed out by the Treasury Department, which was recently authorized to do so. Shares of Freddie and Fannie, which were down more than 20% on Monday, fell 5% and 2% on Tuesday.

  • Hewlett-Packard (HPQ) reported 3Q profit of $2.03 billion, or 80 cents a share, up 14% from $1.78 billion, or 66 cents a share a year ago. Earnings were 86 cents a share excluding one-time charges, beating analyst expectations. While the company remains atop the PC and computer world, it continues to face competition from the likes of Dell (DELL) and Apple (AAPL).

  • Target (TGT) reported 2Q earnings of 82 cents a share, which beat analyst estimates by 6 cents, but dropped 7.6% from a year ago. Revenues grew 5.6% to $14.97 billion while same-store sales declined 0.4% in the quarter. A big misstep for the company was seen in its credit-card operations, in which profits fell to $74 million, down 65% from $213 million a year ago.

Market Recap

  • Asian trading closed with the Hang Seng +2.18%, Nikkei -0.10%, Sensex +0.92%, Taiwan +0.89% and Shanghai +7.63%.

  • Glancing towards Europe, we see the CAC +0.52%, DAX +0.16%, FTSE +0.69%, ATX +1.15%, Swiss Market -0.29% and Stockholm +0.30%.

  • In commodities, crude oil is trading higher +0.21 to 114.74 and gold is also up +2.8 to 813.9 this morning.
< Previous
  • 1
Next >
No positions in stocks mentioned.

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.

Featured Videos