April 12 Some U.S. stocks to watch on Friday:
FUTURES DIP WITH FOCUS ON BANK EARNINGS, ECONOMY
U.S. stock index futures fell on Friday, a day after Wall
Street scaled new heights, as investors awaited a round of
economic data and quarterly results from major banks.
S&P 500 futures fell 3.5 points, the Dow Jones
industrial average futures were down 38 points, and
Nasdaq 100 futures lost 6.75 points.
** JPMORGAN CHASE & CO, Thursday close $49.31, down
0.7 pct premarket
JPMorgan Chase posted an increase in first-quarter profit on
Friday as the biggest U.S. bank benefited from lower expenses.
** WELLS FARGO & CO, Thursday close $37.51, down 0.3
The No. 4 U.S. bank by assets, is expected to post
increased quarterly profit, and investors will be closely
watching for an update on the mortgage business as a harbinger
of what to expect in the rest of the industry.
** INFOSYS LTD, Thursday close $54.34, down 23 pct
** COGNIZANT TECHNOLOGY SOLUTIONS CORP, Thursday
close $77.66, down 5 pct premarket
** WIPRO LTD, Thursday close $9.15
The company forecast full-year sales growth that missed
analysts' expectations by a margin of up to 50 percent, dimming
investor hopes that India's No.2 software services company
will soon start reaping the benefits of its strategic
** ASHLAND INC, Thursday close $78.83, up 6 pct
Activist hedge fund Jana Partners LLC picked up a 7.4
percent stake in Ashland, saying the chemicals maker's stock was
"undervalued." Jana Partners said Ashland's current value
represents "an attractive investment opportunity," according to
a regulatory filing.
** HARRIS CORP, Thursday close $46.56, down 7 pct
The satellite operator estimated third-quarter results below
analysts' expectations and cut its forecast for the year ended
June 29 on government budget uncertainty and the likelihood of
"key international tactical radio orders" being delayed. Harris
is scheduled to report third-quarter results on April 30.
The company also said it is restructuring its operations
such as workforce reduction, facility consolidation, and
prepayment of debt mainly in the fourth quarter, resulting in
pre-tax charges of between $65 million and $115 million.
** IXIA INC, Thursday $18.68, down 5 pct
The company, which makes telecom network testing products,
estimated first-quarter revenue below its previous forecast, as
$4.15 million that the company expected to recognize in the
first quarter has now been recognized in prior periods that were
restated. The company now expects first-quarter revenue of $121
million to $123 million.
** NETFLIX INC, Thursday close $173.01, up 3 pct
The company's Chief Executive Reed Hastings quickly took
advantage of new federal rules on using social media to disclose
information, posting on Facebook Thursday that members of the
subscription service watched 4 billion hours of video in the
past three months.
Earlier on Thursday, the company announced a multi-year
agreement with toy maker Hasbro for children's
** HOME DEPOT INC, Thursday close $71.90, up 1
Jefferies & Co upgraded the home-improvement chain's stock to
"buy" from "hold," saying it has a bullish view on sales for the
near and intermediate terms. "Our recent checks continue to come
back favorable, so while it may be chilly outside, we think
weather will not impede Home Depot's ability to post strong
comparable-store sales in Q1," Jefferies analyst Daniel Binder
wrote in a note.
** BANK OF AMERICA CORP, Thursday close $12.27
** CITIGROUP INC, Thursday close $44.87
** GOLDMAN SACHS GROUP INC, Thursday close $149.07
** MORGAN STANLEY, Thursday close $22.27
At least three Wall Street analysts this week have written
reports about the possibility of the biggest banks breaking
themselves up to boost profitability, signaling that investors
may be more willing to embrace an idea that is still toxic to
some lawmakers in Washington.
** J.B. HUNT TRANSPORT SERVICES INC, Thursday close
$74.22, down 3 pct aftermarket
The U.S. trucker's first-quarter profit missed analysts'
estimates, hurt by higher costs at two of its businesses that
contribute about 30 percent of the company's total revenue.
** FORD MOTOR CO, Thursday close $13.55
The company announced on Thursday that it will introduce
this month a 1.5-liter version of its turbo-charged "EcoBoost"
engine. Ford in 2009 introduced EcoBoost, which allows smaller
engines to have the power of larger ones while cutting fuel use
through turbocharging, direct fuel injection and variable valve
** AT&T INC, Thursday close $38.54
AT&T is expected to begin sales of the first smartphones
preloaded with Facebook's new family of "Home" applications.
** J.C. PENNEY CO INC, Thursday close $14.86, down
4.4 pct premarket
** BLACKSTONE GROUP LP, Thursday close $21.10
Troubled Penny has hired Blackstone's financial advisory arm
to explore how best to position the firm financially, three
sources said on Thursday, while key investor William Ackman said
shareholders were willing to put up more capital.
** WALTER ENERGY INC , Thursday close
$24.12, up 5 pct premarket
The coal miner, which is locked in a proxy fight with an
activist hedge fund, said on Thursday that its first-quarter
performance had improved from that of the fourth quarter of