What's Shaking: Thursday's Early Movers
Take a look at some of Thursday morning's early movers:
Chevron — The oil giant warned that its fourth-quarter profits will be “significantly below” those of the prior quarter, blaming lower profit margins and refinery input volumes.
PVH Corp. — The clothing maker is raising its fourth-quarter guidance on the strength of its Calvin Klein and Tommy Hilfiger clothing brands.
Monster Worldwide — The online provider of job listings has declared a two-for-one stock split.
Validus and XL Group — Both reinsurers say they will record quarterly losses due to the impact of the Thailand floods.
CA Inc. — Private equity firm Taconic Capital Advisors has disclosed a 5.1 percent stake in the software company formerly known as Computer Associates.
Regions Financial — The bank has struck a deal to sell its Morgan Keegan asset management unit to Raymond James Financial for $930 million.
Diamond Foods — The Wall Street Journal reports that the top two shareholders in the company have sold the bulk of their holdings.
Williams Sonoma — The retailer cut its fourth-quarter guidance as holiday season discounting hurt revenues. The company now expects quarterly profit of $1.10 to $1.15 per share, down from the prior guidance of $1.15 to $1.20 and Street estimates of $1.19.
Starbucks — UBS has increased its price target for the stock to $52 from $47, citing stronger than expected same-store sales and strong early acceptance of the company’s single-serving K-cups.
EMC — The stock has been upgraded to “overweight” from “neutral” at JPMorgan Chase, which has also added EMC to its “focus” list. It’s also increased its price target for EMC to $28 from $26.
Royal Bank of Scotland — The bank is cutting 3,500 jobs over three years as it reorganizes its investment banking arm.
Wynn Resorts, Las Vegas Sands, MGM Resorts — Casino stocks getting some positive attention after the Nevada Gaming Control Board reported statewide gambling revenue rose 7.1 percent in November, with Las Vegas Strip revenue up 9 percent.
Sears Holdings — CIT Group says it will no longer provide so-called “factoring” loans to the retailer’s suppliers. Sears says it disagrees with CIT’s action, but points out CIT only finances about 5 percent of its inventory.
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