Stocks to Watch: MCD, HSY, JPM & More
Senior Producer, CNBC
Take a look at some of Wednesday's morning movers:
McDonald’s - The restaurant chain's shares have been downgraded to "neutral" from "buy" at Goldman Sachs. The firm is also cutting yearly earnings estimates for 2012 through 2014 for McDonald's, saying it sees more opportunity in other restaurant stocks like ChipotleMexican Grill and Starbucks.
Hershey - Goldman has added Hershey to its "Conviction Buy" list with a price target of $76. Goldman says Hershey offers "best in class" visibility to better-than-expected earnings and revenue growth over the next two years.
Nielsen Holdings - The ratings company has trimmed the upper end of its full-year revenue guidance, citing changes in operating conditions for its Buy business outside the U.S.
JPMorgan Chase - CEO Jamie Dimon testifies before the Senate Banking Committee on the firm’s recently revealed $2 billion trading loss.
Dell - The computer maker has announced plans to pay its first-ever dividend. Dell’s dividend will be $0.08 per share, a yield of about 2.7 percent at current prices.
Prudential Financial - The company will repurchase up to $1 billion in stock over a one-year period beginning July 1. The board still has $250 million in authorizations remaining from a $1.5 billion buyback program announced in June 2011.
Scotts Miracle-Gro - The maker of lawn care products is cutting its fiscal 2012 earnings forecast, because of lower than expected sales and what it calls an unfavorable product mix.
3D Systems - 3D will sell $100 million in common stock in a secondary offering. The provider of 3D printing solutions will use the proceeds for general corporate purposes and to finance future acquisitions.
Global Payments - The payment processing company says issues resulting from a recent security breach may be more widespread than initially thought. The company now thinks computers which stored personal information of various merchants may have been breached, although the company says it’s unclear that information was looked at or stolen.
Johnson & Johnson - J&J has gotten regulatory approval for its $19.7 billion acquisition of Swiss medical device maker Synthes, and expects to close that deal tomorrow. It also expects the deal to modestly add to profit this year. The stock has also been upgraded to "overweight" from "neutral" at J.P. Morgan Securities.
Philip Morris - The company has announced a new three-year, $18 billion stock repurchase plan.
U.S. Airways - The airline is planning to file paperwork for a possible merger with American Airlines parent AMR (AAMRQ), according to Reuters. U.S. Airways is said to feel that getting regulatory approval in advance would remove a key element of uncertainty.
First Solar, SuntechPower Holdings - Suntech has raised prices for solar panels in the U.S. That comes after punitive tariffs were imposed last month on imports from China.
Yahoo - Yahoo and CNBC have formed a content sharing partnership, which will see CNBC provide stories and videos that will be featured on the Yahoo Finance site. The two will also co-create original videos.
Comcast, Time Warner Cable - The Wall Street Journal reports that the Justice Department is probing whether cable companies are acting improperly to impede competition from online video. The Journal says NBCUniversal parent Comcast and Time Warner Cable are among the companies that have been questioned.
LinkedIn - LinkedIn is planning to provide an additional layer of online security, following a data breach last week. The online business network also says stolen passwords were not seen with their corresponding email logins.
—By CNBC’s Peter Schacknow
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