Ticker Shock: Mastercard, ADM, Walgreen's Looking Good Long-Term
Tuesday's top stories and stocks with potential to move.
Finally, it's Election Day - no more annoying political commercials starting tomorrow.
Asia was a mixed bag, with the Hang Seng off a little over 2%. But the Nikkei was up more than 6%, and Europe is showing me the green. As for the Dow, it's in the green as well.
At the close, Masterccard, which needs absolutely no introduction to this capitalist-loving audience that I love, reported its third-quarter numbers.
Can you say ka-ching?
The New York-based company earned $2.47 a share, excluding charges. That's well north of the $2.25 a share the Street had been expecting. The stock opened higher on the news, and I do think it will close higher.
However, I'd rather wait for a little bit of a pullback before jumping in. I like the stock, and think it will fare well over the long haul. However, I do remain concerned that the shares could get pinched if the economy takes a turn for the worse.
After the bell yesterday, Viacom released its third-quarter numbers.
The media company had reportedly had adjusted earnings of $0.55, in line with expectations. Overall, though, I don't feel like I have to go out and buy the stock - though it does trade at about 9 times its current-year estimate of $2.51 per share. Don't hate me, Viacom bulls, but I just think there are better opportunities out there.
By the way, insiders: If the stock was such a bargain, where were you?
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