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Stocks to Watch: BBY, AZO, MDT & More

Tuesday, 22 May 2012 | 8:11 AM ET

Take a look at some of Tuesday's morning movers:

Best Buy - The electronics retailer earned a first-quarter profit of $0.72 per share, above estimates of $0.59. Revenues also exceeded estimates, though same store sales fell 5.3 percent during the quarter. Interim CEO Mike Mikan said the company knows it has to adapt to the new realities of the marketplace, and restructuring moves announced earlier this year are aimed at accomplishing that goal.

AutoZone - The auto parts retailer earned $6.28 per share for its third quarter, three cents above estimates, with revenues essentially in line.

Medtronic - The medical products maker earned $0.99 per share for its fourth quarter, one cent above estimates. Medtronic said its results were helped in part by successful introductions of new products, including a drug-eluting stent and a spinal cord stimulator.

Zipcar , Avis Budget - Morgan Stanley has initiated coverage of both auto rental companies with "overweight" ratings.

Cracker Barrel - The restaurant operator earned $0.86 per share for the first quarter, eleven cents above estimates, as same-store restaurant sales rose 3.1 percent. Cracker Barrel is also forecasting full-year profit above Wall Street consensus.

DSW - The shoe retailer reported first-quarter profit of $0.98 per share, eight cents above estimates. Same-store sales rose 7.6 percent, and DSW also raised its quarterly dividend 20 percent to $0.18 per share.

Williams-Sonoma - The retailer reported quarterly profit of $0.34 per share, excluding certain items, two cents above estimates. Higher demand at its Pottery Barn and West Elm furniture stores helped boost the company's bottom line.

Urban Outfitters - The retailer reports first-quarter profit of $0.23 per share. That beat estimates by three cents, though revenues did come up short of consensus.

Georgia Gulf - The chemical company has reinstated its quarterly dividend of $0.08 a share, in the first payout by the chemical company since 2008.

Onyx Pharmaceuticals - Onyx's drug Naxavar — developed in conjunction with Germany’s Bayer — missed its goal in a trial of lung cancer patients. The drug did not extend survival when used by patients suffering from non-small cell lung cancer.

BlackRock - The firm is among three investors purchasing a $1.6 billion stake in Formula One from CVC Capital. Formula One is currently making plans for a $3 billion initial public offering in Singapore.

Facebook - Reports say analysts at several firms, including lead underwriter Morgan Stanley, cut revenue estimates in advance of Facebook's initial public offering. The aftermath of the troubled offering process also makes Nasdaq OMX a stock to watch, as the exchange sets aside $13 million to resolve bad trades and tries to repair damage to its reputation.

Guess - The apparel maker will have to pay $4.66 million in a case that saw Gucci accuse it of copying its trademarked designs. However, that amount is only a fraction of the more than $120 million that Gucci had been seeking.

Apple - The company has kept its ranking as the world’s most valuable brand, according to a new study by market research agency Millward Brown. International Business Machines came in second, followed by Google at No. 3.

Vodafone - Vodafone is cutting its medium-term sales target, citing softness in the European market. The world’s largest mobile operator did report full-year results in line with analysts' forecasts.

—By CNBC’s Peter Schacknow

Questions? Comments? Email us at marketinsider@cnbc.com

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CBRL
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AXLL
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IBM
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MS
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OX1
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URBN
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VOD
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WSM
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AAPL
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NDAQ
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FB
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Featured

  • Patti Domm

    Patti Domm is CNBC Executive Editor, News, responsible for news coverage of the markets and economy.

  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

  • Sharon Epperson is CNBC's senior commodities and personal finance correspondent.

  • JeeYeon Park is a writer for CNBC.com. Follow her on Twitter: @JeeYeonParkCNBC

  • Rick Santelli joined CNBC Business News as an on-air editor in 1999, reporting live from the floor of the Chicago Board of Trade.

  • Senior Producer at CNBC's Breaking News Desk.

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