Stocks to Watch: LOW, CPB, FB & More
Senior Producer, CNBC
Take a look at some of Monday's morning movers:
Lowe’s - The home improvement retailer earned $0.44, excluding certain items, two cents above estimates, with sales also beating forecasts. However, the full-year forecast is short of consensus, as Lowe's remains cautious about housing-related demand and about the overall economic environment.
Campbell Soup - Campbell Soup earned $0.56 per share for its fiscal third quarter, four cents above estimates. Campbell CEO Denise Morrison said that although sales trends are improving, the company is not satisfied with its third-quarter performance. She said Campbell executed well in some businesses, but not in others.
Facebook - Nasdaq is planning to revamp its system for stock offerings, according to The Wall Street Journal. CEO Robert Greifeld said during a conference call over the weekend that pre-IPO testing failed to spot the problem that arose from the extremely high order volume during the Facebook offering. Facebook shares traded below its IPO price of $38 in pre-market trading Monday.
Best Buy - BB&T Capital has downgraded the stock to "hold" from "buy," and suspended its $30 a share price target for Best Buy. The firm cites the lack of a definitive leader heading into the holiday shopping season, following the departure of former chief executive Brian Dunn.
Chesapeake Energy - The energy producer is cutting compensation for directors by about 20 percent, and is also eliminating the use of fractionally owned aircraft for personal travel by outside directors.
General Motors - The automaker has announced it will not advertise during next season’s Super Bowl game, saying it can’t justify the increased price of ads.
DaVita - DaVita is buying privately held HealthCare Partners for about $4.4 billion in cash and stock. DaVita is the biggest U.S. operator of dialysis clinics, while HealthCare Partners is the largest operator of medical groups and physician networks.
Yahoo - The company has sold half of its 40 percent stake in Alibaba Group back to the company. Yahoo will get $6.3 billion in cash and up to $800 million in new Alibaba preferred stock. Yahoo bought the 40 percent stake in 2005 for about $1 billion.
Northrop Grumman - The defense contractor has won a $1.7 billion dollar NATO order for five Global Hawk drones and transportable ground stations. The deal was announced during the weekend NATO summit in Chicago.
Walt Disney - Walt Disney's “The Avengers” continues to dominate the movie box office, with the film taking in $55.1 million in North American ticket sales to hold the No. 1 spot for the third straight weekend. Universal Pictures’ “Battleship” was number two at $25.4 million. (NBCUniversal is the parent of CNBC and CNBC.com.)
J.C. Penney - Barron's is calling the shares a bargain, after last week’s battering. J.C. Penney fell almost 20 percent last Wednesday after the retailer reported a first-quarter sales decline of 18.9 percent.
Google - Google has cleared the final regulatory hurdle for its planned $12.5 billion acquisition of Motorola Mobility, with Chinese authorities approving the deal. The companies expect the deal to be finalized within two business days.
—By CNBC’s Peter Schacknow
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