Stocks to Watch: MCD, JPM, AAPL & More
Take a look at some of Thursday morning's early movers:
McDonald's - McDonald's reports February global same-store sales rose 7.5%, short of estimates of 8.3%. The breakdown by region: U.S. up 11.1% vs. estimates of up 8.7%, Europe up 4.0% vs. estimates of up 6.8%, APMEA (Asia-Pacific, Middle East, and Africa) up 2.4% vs. estimates of up 8.6%.
JPMorgan Chase - Morgan Stanley has raised its earnings estimate and price target for JPMorgan Chase, based on improved loan growth among other factors.
Apple - Goldman Sachs has raised its price target for Apple to $660 from $600.
The Buckle - The youth oriented retailer reported fourth quarter profit of $1.18 per share, four cents above analyst estimates. That performance came as same-store sales improved along with online sales, though profit margins did slip.
Williams-Sonoma - The household products retailer earned $1.17 a share for the fourth quarter, four cents above estimates, on better than expected sales. It also says chief financial officer Sharon McCollam will retire on March 16.
Smithfield Foods - The largest U.S. hog and pork producer earned 69 cents a share for the fourth quarter, excluding certain items, three cents above estimates. Its results, however, were hurt by higher raw material costs.
AIG - The Treasury has announced plans to sell $6 billion in AIG common stock, with AIG planning to purchase half that amount. The transaction will would reduce the Treasury's common stake in AIG to 70%.
Crown Castle - The wireless infrastructure company will replace Constellation Energy in the S&P 500. Constellation is in the process of being acquired by Exelon .
Simon Property Group - The mall operator will pay French bank BNP Paribas $2 billion for its 28.7% stake in French real estate group Klepierre.
Fortress Investment Group - The IPO for the firm's Nationstar Mortgage Holdings priced at $14 per share, well below the expected range of $17 to $19.
Hot Topic - The teen retailer reported better than expected quarterly profits, and also sees current quarter earnings above Street estimates. The company saw improved profit margins - and as the effect of cost-cutting measures takes hold, it now sees better than expected results for the current quarter as well.
American Eagle - The retailer's stock was raised to "conviction buy" at Goldman Sachs, which also raised its 6-month price target to $19 from $18. Goldman says American Eagle's profit margins have been significantly depressed and sees considerable potential for improvement.
Navistar - The truck and engine maker is cutting its 2012 profit forecast to $4.25 - $5.25 per share, down from the prior forecast of $5 - $5.75. Current estimates are at $5.29. The company cites higher health care costs as well as trouble at a brake supplier.
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