April 12 Some U.S. stocks to watch on Friday:
WALL STREET TO OPEN WEAKER ON RETAIL SALES, BANKS DIP
Wall Street was set for a weaker open, pulling back from
record levels set a day earlier, after retail sales unexpectedly
dropped last month and as results from major banks failed to
S&P 500 futures fell 5.7 points, the Dow Jones
industrial average futures were down 40 points, and
Nasdaq 100 futures lost 11 points.
** JPMORGAN CHASE & CO, Thursday close $49.31, down
1 pct premarket
JPMorgan Chase posted higher first-quarter profit on Friday
as it spent less money on litigation, but most of its major
businesses turned in tepid performances, and the bank's overall
** WELLS FARGO & CO, Thursday close $37.51, down 2
The No. 4 U.S. bank by assets reported a
higher-than-expected 23 percent rise in first-quarter profit on
Friday, but its mortgage business showed further signs of
slowing and net interest margins continued to shrink.
** BLACKBERRY , Thursday close $13.55, up
0.6 pct premarket
The Canadian company said on Friday it would ask securities
regulators in Canada and the United States to probe a report
about retail return rates for its new Z10 smartphone that it
called "false and misleading."
** FOREST OIL CORP, Thursday close $5.02, up 11 pct
** SCHLUMBERGER LTD, Thursday close $77.14, down 1
Forest oil said Schlumberger, the oilfield services sector
leader, will pick up a 50 percent working interest in the oil
and gas producer's Eagle Ford shale acreage by paying $90
million towards future drilling costs.
** 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
** M&T BANK CORP, Thursday close $104.92, down 7 pct
** HUDSON CITY BANCORP INC, Thursday close $8.77,
down 5 pct premarket
The two banks said on Friday it may take more time than
expected for the U.S. Federal Reserve to rule on M&T's proposed
$3.7 billion purchase of its smaller rival because of concerns
over M&T's anti-money laundering program.
** 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
** ARCH COAL INC, Thursday close $5.60, up 2 pct
** PEABODY ENERGY CORP, Thursday close $20.83, up
1.8 pct premarket
** CLIFFS NATURAL RESOURCES INC, Thursday close
$19.92, up 0.6 pct premarket
** ALPHA NATURAL RESOURCES INC, Thursday close
$8.13, up 3 pct premarket
Australian thermal coal benchmark prices recovered slightly
to around $89 per tonne this week as Japanese utilities struck a
deal with global miner Xstrata for their annual coal
Australia's Newcastle spot index rose to $88.90
per tonne on Wednesday, up from $86.71 per tonne a week earlier,
data from online trading platform globalCOAL
** MANNKIND CORP, Thursday close $4.28, down 5 pct
An article on the
The therapy, called Afrezza, is intended for the treatment
of adult patients with Type 1 and Type 2 diabetes. The therapy
consists of a powder loaded into a cartridge which is used as an
** MASTERCARD INC, Thursday close $541.24
** VISA INC, Thursday close $167.62, down 0.5 pct
Brokerage Sterne Agee downgraded both the payment
processors' stocks to "neutral" from "buy." MasterCard is
expected to face tough competition from Visa due to its margins,
Sterne Agee analyst Greg Smith wrote in a note to clients. He
also said that regulatory and political risks could have a
greater impact on the share price of Visa.
** ELECTRONIC ARTS, Thursday close $17.63, down 3 pct
The videogame publisher has begun laying off staff at its
Montreal game studio in its latest round of jobs cuts, less than
a month after former Chief Executive John Riccitiello abruptly
** XENOPORT INC, Thursday close $7.26, down 3 pct
The pharmaceutical company said its marketing partner,
GlaxoSmithKline, experienced delays in production of
XenoPort's restless leg syndrome drug, Horizant, which resulted
in the drug being out of stock.
XenoPort said it expects Horizant to be available in
pharmacies in June. The company is also evaluating the impact,
if any, on the company's financial expectations for
** CALLAWAY GOLF CO, Thursday close $7.00, down 2
Raymond James downgraded the golf equipment retailer to
"market perform" from "outperform," citing the sudden and
significant devaluation of the Japanese Yen, and to a lesser
extent similar challenges with the British Pound.
Callaway generated 48 percent of revenues from the United
States, while Japan and Europe represented 19 percent and 14
percent of total revenues, as of end of 2012.
** 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.
** 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
** 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.
** 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, down 1.2
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
** 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.
At least three brokerages raised their target price on the
stock on Friday. "The earnings miss confirms our thesis that the
company will continue to see solid top-line trends, but will
likely continue to do so at the expense of pricing and margins,"
Amit Daryanani, an analyst with RBC Capital Markets, wrote in a
research note published on Friday.
** 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.