Stocks to Watch: FB, MAR, UPS, COST & More
Take a look at some of Thursday morning's early movers:
Facebook - The social network has reached the 1 billion user mark and is launching a new ad campaign in conjunction with that milestone.
Marriott - The hotel operator reported third quarter profit of $0.44 per share, 4 cents above estimates, with revenue also beating consensus. However, Marriott’s current quarter guidance of $0.52 — $0.56 per share falls short of the $0.57 consensus estimate.
UPS - RBC Capital has cut its rating on the delivery service's shares to "sector perform" from "outperform," saying slower economic growth will keep a lid on earnings and that domestic margins are unlikely to expand further.
Costco - The retailer reported a September same-store sales increase of 6 percent, slightly above analyst estimates.
Applied Materials - The company is planning to cut 900 to 1,300 jobs, representing about 6 percent to 9 percent of its global workforce, by the end of fiscal 2013’s third quarter. The biggest maker of chipmaking equipment says the restructuring will free up to $190 million annually.
3M - 3M has terminated its agreement to buy Avery Dennison’s consumer product unit. 3M did not provide a reason, but the Justice Department had threatened to sue to stop the deal on anti-trust grounds.
Unilever - The consumer products giant is considering various options for its Skippy peanut butter brand, including a possible sale.
eBay - Nomura Securities has upgraded the online auction site's shares to "buy" from "neutral," citing increased margins at its PayPal unit.
NuVasive - The medical device maker cut third quarter revenue guidance. It cites aggressive competition, especially from physician-owned distributorships.
Hewlett-Packard - HP shares will bear watching once again today, following Wednesday’s 13 percent drop. That followed CEO Meg Whitman’s statement that HP’s turnaround effort will take longer than expected. Whitman is appearing on CNBC’s "Squawk On the Street" at 9 a.m. EDT.
Sprint Nextel - Baird has downgraded Sprint shares to "underperform" from "neutral."
Limited - The retailer saw same-store sales rise 5 percent in September, slightly above estimates of 4.7 percent.
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