Stocks to Watch: WMT, TGT, VIAB & More
Senior Producer, CNBC
Take a look at some of Thursday's morning movers:
Wal-Mart Stores - The retail giant reported third-quarter profit of $1.08 per share, one cent above estimates. But the company's revenue was short of consensus, as is its revised earnings per share guidance for the full year. Additionally, the company said an internal probe of foreign practices has unveiled allegations of new violations of the Foreign Corrupt Practices Act, an issue that first surfaced regarding the company's operations in Mexico.
Viacom - Viacom earned $1.21 per share for the fourth quarter, excluding certain items, four cents above estimates. Revenue was slightly light, in part because of a drop in filmed entertainment revenues.
PetSmart - The pet supplies retailer reported third-quarter profit of $0.75 per share, 12 cents above estimates. Same-store sales were up a better-than-expected 6.5 percent for the quarter. The company also raised its earnings guidance for the year.
Diamond Foods – Diamond completed a restatement of its first three quarters of 2012, following an internal probe that highlighted errors in accounting for payments to walnut growers. Its restatement resulted in a loss for the three quarters, as well as cutting the snack maker's earnings by 57 percent for 2011 and by 46 percent for 2010.
NetApp – The company earned $0.51 per share, excluding certain items, for its fiscal second quarter, three cents above estimates. Its current-quarter forecast is also slightly ahead of Street estimates, and the maker of data storage equipment said it will buy back another $1.5 billion in stock.
Limited Brands – Limited earned $0.26 per share, excluding certain items, for its third quarter, two cents above estimates. The retailer also raised its full-year forecast and has authorized a new $250 million share repurchase program, but its revised guidance remains short of Street estimates. Limited's results were driven by upbeat sales at its Victoria's Secret and Bath & Body Works divisions.
GlaxoSmithKline - A U.S. Food and Drug Administration panel has recommended approval of Glaxo's H5N1 influenza vaccine. The FDA is not required to follow the recommendations of its panels, but usually does so. The vaccine is already approved for use in the European market.
News Corp. – The media giant is reportedly close to a deal to buy a minority stake in the YES regional sports network, according to The Wall Street Journal. The deal would value the network, which televises New York Yankee games, at about $3 billion, with News Corp. acquiring a 40 percent stake.
Williams-Sonoma - The home goods retailer earned $0.45 per share for the third quarter, four cents above estimates, with revenue also beating consensus. However, its current-quarter guidance is short of what the Street was expecting.
A number of stocks may move on the latest round of 13F filings, showing changes in stakes by major investors:
American International Group – New filings show a number of large investors taking or increasing stakes in the insurer, including George Soros, Appaloosa, Jana Partners, and Third Point.
Procter & Gamble – Investor William Ackman has increased his stake in P&G by more than 25 percent, though Warren Buffett's Berkshire Hathaway has cut its P&G holdings by 11 percent.
Wells Fargo – Berkshire Hathaway has increased its stake in Wells Fargo by 11.5 million shares to a total of 422.5 million.
General Electric – Berkshire has cut its stake in GE by 88 percent to about 589 million shares.
General Motors – Berkshire has increased its stake in the automaker by 50 percent to 15 million shares.
Johnson & Johnson – Berkshire has cut its J&J stake by 95 percent to 492,000 shares from 10.3 million.
—By CNBC's Peter Schacknow
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