Stocks to Watch: PFE, LTD, WPI & More
Take a look at some of Thursday's morning movers:
Pfizer - The drug company's third-quarter profit of $0.53 per share, excluding certain items, matched estimates, but revenue was light, and the company's narrowed earnings forecast for the year fell below analysts' consensus. Pfizer said the revenue shortfall is due to the loss of exclusivity for its cholesterol drug Lipitor.
Limited Brands - The retailer saw a 3 percent increase in October same-store sales, but that was short of the estimated 5 percent increase.
Watson Pharmaceuticals - Watson reported quarterly profit of $1.35 per share, excluding certain items, compared to estimates of $1.28. Watson's results were helped by a number of new generic drug introductions.
Cigna - The insurance company earned $1.71 per share, excluding certain items, well above estimates of $1.36. Cigna was helped by increased membership numbers, and it also raised its full-year earnings forecast.
Avon Products - Avon earned $0.17 per share for its latest quarter, short of estimates of $0.22, as sales weakened across its businesses. Avon also cut its quarterly dividend to $0.06 per share from the prior $0.23.
Visa - Visa reported fiscal fourth-quarter profit of $1.54 per share, four cents above estimates. It also said it sees low-double-digit revenue growth for fiscal 2013. Visa benefited from strong growth overseas, especially in the Asia Pacific Region.
Allstate - Allstate earned $1.46 for its third quarter, 33 cents above estimates, with revenue also well above Wall Street consensus. The insurance company saw increased revenue from premiums and smaller losses from catastrophes.
MetLife - The insurer earned $1.32 per share for the third quarter, excluding certain items, four cents above estimates, though revenue fell short of consensus. Metlife was able to register a 2 percent increase in net investment income, despite a low interest rate environment.
Sony - Sony reported a $193 million dollar fiscal second-quarter loss, smaller than a year ago, with the electronics giant sticking to its full-year forecast of a return to profit.
Barclays - The bank may be fined $470 million by U.S. regulators for allegedly manipulating California energy markets. If so, it would be the biggest fine ever levied by the Federal Energy Regulatory Commission. The bank has 30 days to show why it should not be penalized for its purported price manipulation scheme.
JDA Software - JDA is likely to be acquired by private-equity firm New Mountain Capital, according to The Wall Street Journal. The paper said New Mountain is likely to pay about $45 per share, or $1.9 billion, for the business software provider. The stock jumped Wednesday following reports that the company was exploring a sale.
Sirius XM Radio - The satellite radio provider earned $0.01 per share for the third quarter, one cent shy of estimates, but its revenue beat consensus.
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