Stocks to Watch: SFD, NOK, YHOO & More
Senior Producer, CNBC
Take a look at some of Thursday's morning movers:
Smithfield Foods - The food producer earned $0.49 per share for its latest quarter, short of estimates of $0.53. Smithfield was hurt by lower-than-expected margins in its fresh pork business.
Nokia - The handset maker warned that its second-quarter loss from its cellphone business will be wider than expected and said it plans to cut another 10,000 jobs globally.
Yahoo - ComScore said Yahoo lost search market share for the ninth consecutive month in May. It now has a 13 percent share, trailing Google’s 67 percent and Microsoft’s Bing at 15 percent.
UBS , Credit Suisse – The Swiss National Bank is recommending that the country’s two biggest banks should boost their capital reserves to protect against a weakening global economy.
Kroger – The biggest U.S. supermarket chain earned $0.78 per share for the first quarter, six cents above estimates. The company also announced a new $1 billion share buyback authorization.
Quest Software – The company has gotten a $2.15 billion takeover offer from what it calls a “strategic bidder,” topping a March offer of almost $2 billion from private-equity firm Venture Partners. The new offer is worth $25.50 per share, compared to Venture’s $23 bid.
Winnebago Industries – The recreational vehicle maker earned $0.13 per share for its third quarter, one cent above estimates. Its results were aided by higher prices and more wholesale deliveries of towable products.
Brown-Forman – The spirits maker’s board has approved a three-for-two stock split, with an anticipated record date of on or about Aug. 3.
AOL – Stockholders have elected all of the company’s incumbent director nominees, including CEO Tim Armstrong, who will be interviewed by CNBC’s Julia Boorstin on “Squawk On The Street” at 11:45 a.m. ET.
United Technologies - The Dow Jones Industrial Average component stock has raised its quarterly dividend 11.5 percent to $0.48 per share. The increase is the company’s first since April of last year.
Ctrip - Ctrip has announced a share repurchase program of up to $300 million involving the China travel agency’s American depositary shares.
Edwards Lifesciences - The medical device maker has won U.S. Food and Drug Administration panel approval for a new artificial heart valve that can be inserted without performing open heart surgery. The FDA usually — but not always — follows the recommendations of its panels.
Supervalu - The supermarket chain's stock is getting a further boost on takeover talk, following a more than 2 percent gain in Wednesday’s trading session. Barclays analyst Meredith Adler wrote a report this week suggesting that Supervalu has become a particularly cheap leveraged buyout target.
Best Buy - The electronics retailer's shares have been upgraded to “neutral” from “sell” by Citi, with the firm saying there’s now a more balanced risk/reward ratio following a 35 percent pullback since March 24.
Regions Financial - Goldman Sachs has upgraded the regional bank's stock to "buy" from "neutral," citing improving fundamentals and a housing recovery in the U.S. Southeast.
Pier One Imports - The retailer matched estimates with quarterly profits of $0.16 per share, but raised its fiscal 2013 outlook. It now expects to earn $1.08 to $1.14 per share, up from the prior guidance of $1.06 to $1.12, as sales increase.
Adobe Systems - Jefferies & Co. has downgraded the software maker's stock to "hold" from "buy," and cut the price target to $32 from $38. It cited a number of factors, including a large number of subscribers to Adobe's Creative Cloud service taking advantage of promotional pricing.
Costco Wholesale - Costco is buying the 50 percent of Costco Mexico that it doesn't already own from its joint venture partner for $767 million.
—By CNBC’s Peter Schacknow
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