Stocks to Watch: WMT, SHLD, LTD & More
Senior Producer, CNBC
Take a look at some of Thursday's morning movers:
Wal-Mart Stores - The world's biggest retailer earned $1.09 per share for the first quarter, five cents above estimates, with sales also beating consensus forecasts. Wal-Mart also says it doesn't expect probes into Mexico bribery allegations to have a material adverse effect on its business, although it can't provide assurances that this will still be the case in the future.
Sears Holdings - The retailer reported a smaller-than-expected quarterly loss of $0.31 per share, compared to analyst estimates of $0.67. Same-store sales did drop 1.3 percent, but Sears says it's making progress in improving its core retailer operations.
Limited Brands - Limited Brands reported first-quarter profit of $0.41 per share, a cent above estimates. But its second-quarter outlook of $0.40 to $0.45 per share fell below consensus estimates of $0.50.
Dell - Stern Agee has upgraded the computer maker's stock to "neutral" from "underperform," citing limited downside.
Human Genome Sciences - The drugmaker is rejecting GlaxoSmithkline's $13 a share takeover bid as inadequate, and has adopted a shareholder right's plan.
Alkermes - The drug delivery system specialist reported a smaller-than-expected fiscal fourth-quarter loss, and is also giving a fiscal 2013 outlook that tops consensus by a wide margin. The company says its cash position has strengthened and its pipeline has several promising new products.
Canadian Pacific Railway - Chief Executive Officer Fred Green has resigned, in what's being seen as a victory for activist shareholder Bill Ackman. Ackman has been pushing for nominees from his Pershing Square Capital Management to join the board in a contentious proxy battle.
Agilent - Agilent is buying Denmark cancer diagnostic product company Dako in a $2.2 billion cash deal. It's Agilent's largest takeover deal ever, as it expands its presence in the clinical diagnostic market.
Dollar Tree - The retailer earned $1 per share for its latest quarter, two cents above estimates, but its fiscal year forecast largely falls below consensus.
The Buckle - The retailer earned $0.79 per share for the first quarter, three cents above estimates, with same-store sales up 7.4 percent for the quarter. Profit margins also improved during the quarter.
Red Robin Gourmet Burgers - The restaurant operator earned $0.71 per share for the first quarter, five cents above estimates, but revenue came in on the light side as customer counts declined.
Electronic Arts, Activision Blizzard - The videogame makers have settled a lawsuit over the “Call of Duty: Modern Warfare 2” game. Activision had accused two developers of breaking their employment contracts to work for rival EA.
Medtronic - The medical products maker says that the U.S. Justice Department has ended a probe into the company’s Infuse bone graft product. The Justice Department found no evidence of wrongdoing in the case, which involved allegations of illegal kickback payments to doctors.
J.C. Penney - The retailer's stock bears watching today, a day after it suffered the worst one-day loss in its history. Pershing Square’s Bill Ackman, J.C. Penney’s largest shareholder, said the retailer is “not fundamentally broken” and that all the elements of a turnaround are in place.
Novartis - The drugmaker said a study showed its experimental lung drug improved lung function over a one-year period and is as effective as rival drugs.
Bank of America - The bank may have a $2 billion deal in the offering, with sources telling Reuters that Royal Bank of Canada and Credit Suisse are among those bidding to buy its non-U.S. wealth management business.
Southwest Airlines - The airline is deferring deliveries of 30 Boeing 737-800 jets that it had been scheduled to receive in the next two years. CEO Gary Kelly says until the airline hits its return on capital target, it won’t expand the fleet.
—By CNBC’s Peter Schacknow
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