Stocks to Watch: HD, DKS, GRPN & More
Senior Producer, CNBC
Take a look at some of Tuesday's morning movers:
Home Depot - The home improvement retailer earned $0.65 per share, excluding certain items, for the first quarter, matching Street estimates. Revenues were slightly shy of consensus. Home Depot also boosted its full year forecast to $2.87 per share, excluding certain items, compared to analysts’ estimates of $2.92. The company says warm weather and strong demand for core products helped its first quarter, but investor disappointment with the report could impact both Home Depot and rival Lowe's Co.
Dick's Sporting Goods - The sporting goods retailer earned $0.45 per share for the first quarter, seven cents above estimates. It also raised its full-year forecast to $2.45 to $2.48 per share, versus analyst forecasts of $2.43.
Though Facebook is not yet trading, it’s on top of today’s list of stocks to watch. Sources tell CNBC the company has increased the price range of its upcoming initial public offering to $34 to $38 per share from the prior $28 to $35. That means Facebook’s ultimate post-IPO valuation could exceed $100 billion.
Groupon - The company reported first-quarter profit of two cents per share, compared to Street estimates of $0.01. Its revenue of $559 million was also above expectations of $531 million, and an upbeat forecast is also boosting investor sentiment.
Yahoo - New chairman Fred Amoroso is reportedly calling for interim CEO Ross Levinsohn to stay on as permanent chief executive officer, according to The Wall Street Journal.
David Tepper’s Appaloosa Management has disclosed new stakes in Citigroup, Bank of America, Google, and General Motors, while nearly tripling its stake in Apple and nearly doubling its stake in Microsoft.
Adobe Systems - The software maker has named three new directors as the software maker increases the size of its board to 12 members from nine.
JPMorgan Chase - The bank holds its annual shareholders meeting today, as CEO Jamie Dimon prepares to face a barrage of questions over the recently revealed $2 billion trading loss.
Avon Products - Coty has withdrawn its $10.7 billion takeover offer. Avon had said it would respond within a week of the improved offer, but Coty stuck to its Monday deadline for Avon response.
Anadarko Petroleum - The energy producer has discovered a major natural gas field in Mozambique, which it says could hold more than 20 trillion cubic feet of gas.
Morgan Stanley - Credit Suisse is removing the stock from its “focus list,” with the possibility of a debt rating downgrade looming.
J.M. Smucker - The food producer is cutting the price of its coffee products by an average of 6 percent, in response to declining input costs. Those products are sold under the Folgers, Dunkin' Donuts, Millstone, and Cafe Bustelo brands. The price cut could impact other coffee-related stocks, including Starbucks, Green Mountain Coffee Roasters, Dunkin' Brands, and Peet's Coffee & Tea.
Amazon.com - Credit Suisse has upgraded Amazon shares to "outperform" from "neutral." It said a recent rise in fulfillment center costs is related to new buildouts rather than a structural increase in costs, and that those new centers will help Amazon's efficiency and profit margins.
—By CNBC’s Peter Schacknow
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