Spotlight Stocks: UBS, IBM, United Health, Acme Packet
Thursday's top stories and stocks with potential to move.
Stocks to watch for Thursday, July 3rd:
UBS (UBS) may post an additional $6.9 billion in writedowns. This according to Citigroup, itself no stranger to writedowns. The financial services firm still carries, according to Citi analyst Peter Kurer, $83 billion in risk exposure.
UnitedHealth Group (UNH) had its ratings outlook lowered to negative from stable by Standard & Poor's. The downgrade came after the health insurer cut its earnings outlook - again. S&P also affirmed its A- counterparty credit rating on the company.
Acme Packet (APKT) issued downside guidance for the second quarter: Between $0.02 and $0.04 per share versus consensus estimates of $0.09, and revenues between $24.5 and $25.5 million versus consensus estimates of $33.6 million. A company spokesperson said results were hampered by transactions that failed to close in the anticipated timeframe and the shipment of product in the waning days of the second quarter that, as such, couldn't be factored for the quarter.
NVIDIA Corporation (NVDA) announced Wednesday after the closing bell that it expects second-quarter revenue and gross margins to miss previously announced forecasts. The Santa Clara, California-based chipmaker revised its revenue expectations and now estimates a haul of between $875 and $950 million.
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