Stocks to Watch: AAPL, BIG, TRV & More
Take a look at some of Friday morning's early movers:
Apple - According to a report from a JPMorgan analyst, Apple is not only planning to launch its latest iPad next week, it’s also planning to relaunch a less expensive version of its iPad 2, as a way of combating cheaper tablet computers that run Google’s Android operating system.
Big Lots - The retailer earned $1.83 per share, excluding certain items, for the fourth quarter, also chalking up its fifth consecutive year of record profits. However, its current quarter guidance of 75 to 81 cents a share falls largely below current consensus of 81 cents.
Travelers - The Dow component has been downgraded to "equal weight" from "overweight".
Foot Locker - The company is reporting fourth quarter profit of 55 cents a share, four cents above estimates. Company earnings were 42 percent above year earlier levels, with Foot Locker crediting new apparel and footwear offerings for increased sales. However, some investors were disappointed by the 7.5% growth in same-store sales.
Nike - The footwear and apparel maker says it’s formulating a new marketing plan around Jeremy Lin of the New York Knicks, to take advantage of the excitement he’s generated in recent weeks. Nike signed Lin when he turned professional back in 2010.
Eastman Kodak, Shutterfly - Shutterfly has agreed to buy Kodak’s online photo services businessfor $24 million. The sale is part of Kodak's efforts to reorganize under Chapter 11 bankruptcy protection.
Yelp - The online review site makes its Wall Street debut today, trading under the symbol "YELP," after pricing its initial public offering at $15/share. That was above the expected range of $12 to $14, with the IPO valuing Yelp at $900 million.
CBS and Madison Square Garden - Both companies are reportedly considering investments in a Los Angeles Dodgers ownership group to get the TV rights to the team’s games. That’s according to a story in today’s Los Angeles Times, though both companies declined comment. Fox Sports currently airs Dodger games on Prime Ticket.
Lowe's - The retailer's stock has been upgraded to "equal weight" from "underweight" at Morgan Stanley.
News Corp. - RBC Capital has cut its rating on the stock to "outperform" from "top pick", saying the risk/reward ratio now appears to be more in line with the firm's other "outperform"-rated stocks. It says the stock could also be more vulnerable now to headline risk relating to its phone hacking scandal.
Eli Lilly - The drug maker's stock has been upgraded to "neutral" from "underweight" at Morgan Stanley, saying Lilly has room to cut costs and that there's more clarity now regarding the new product pipeline.
Nokia - Standard & Poor's has cut its rating on Nokia to BBB-, the lowest investment grade rating. It says Nokia continues to face challenges in defending its handset market share.
Questions? Comments? Email us at email@example.com