Stocks to Watch: HPQ, HRL, HNZ, GMCR & More
Senior Producer, CNBC
Take a look at some of Tuesday's morning movers:
Hewlett-Packard - The company said it was the victim of serious accounting improprieties that took place at Autonomy, the U.K.-based company purchased by HP last year. It took a charge of $8.8 billion related to that revelation. HP is also reporting fiscal fiscal fourth- quarter profit of $1.16 per share, excluding certain items, two cents above estimates. Its current quarter guidance is well short of Street consensus, but its full year projections remain in line.
Hormel Foods - The maker of Spam and Dinty Moore products reported quarterly profit of $0.49 per share, one cent shy of estimates, with revenues essentially in line. Hormel also increased its annual dividend to $0.68 per share from $0.60. The company has seen improving sales, but increasing commodity costs have impacted its bottom line.
H.J. Heinz - The company best known for ketchup reported fiscal second quarter profit of $0.90 per share, excluding certain items, two cents above estimates. Heinz says its results were helped by what it calls "dynamic" growth in emerging markets.
DSW - The shoe retailer reported third-quarter profit of $1.02 per share, excluding certain items, well above estimates of $0.89. Revenue also exceeded estimates, as comp store sales increased for a 13th consecutive quarter.
Urban Outfitters is among our stocks to watch this morning, after the retailer reported third-quarter profit of $0.40 per share, one cent below estimates. Revenues were essentially in line and profit margins rose.
Chesapeake Energy - Investor Carl Icahn has reported a new 8.9 percent stake in the energy producer, according to an SEC filing.
Apple - The U.S. International Trade Commission will review a judge's decision that Apple did not violate Samsung patents in its iPod Touch, iPhone, and iPad. The judge had said Apple was innocent in a preliminary hearing in September.
Agilent Technologies - Agilent reported fiscal fourth-quarter profit of $0.86 per share, six cents above estimates, but the maker of measurement equipment gave a current quarter projection that fell short of estimates for both earnings and revenues. CEO Bill Sullivan has said deals have been taking longer to close and customers were delaying orders.
Brocade Communications - Brocade reported fiscal fourth-quarter profit of $0.17 per share, three cents above estimates, with revenues beating consensus as well. The maker of data storage equipment also saw improved profit margins, although analysts say the networking market is becoming more competitive.
Krispy Kreme Doughnuts - The doughnut chain reported third quarter profit of $0.12 per share, excluding certain items, four cents above estimates, with a jump in operating margins to 8.6 percent from 5.6 percent. The better than expected profit report comes amid improving sales, and the company is raising its full year earnings guidance as a result.
JPMorgan Chase - The bank has named Marianne Lake as its new chief financial officer. She'll transition into the job during the first quarter of 2013, with outgoing CFO Doug Braunstein becoming Vice Chairman. Lake is currently chief financial officer of JPM's Consumer & Community Banking unit.
Jack In The Box - The company earned $0.27 per share for its fourth quarter, ten cents below estimates, with revenues falling well short of consensus as well. The restaurant chain's guidance for the new fiscal year also falls largely below analyst projections. Revenue has been on the decline in recent quarters, and high commodity costs have also impacted profits.
Yahoo - Yahoo is said to be mulling a bid for TVGuide.com, according to AllThingsD. The site is currently owned by Lionsgate, which is said to be in advanced talks to sell TVGuide.com for about $20 million.
Cliff's Natural - Goldman Sachs has downgraded the iron ore producer's shares to "sell" from "neutral", citing a delay in a key expansion project and a weak iron ore environment.
Gyrodyne - Gyrodyne has declared a special dividend of $38.30 per share, payable to shareholders of record as of Dec. 1. Gyrodyne is a real estate investment trust which manages business properties in the New York metropolitan area.
Groupon - Tiger Global Investments has disclosed a 9.9 percent stake in the daily deals provider. The Wall Street Journal quotes sources as saying the stake is considered by Tiger to be "passive, not activist." Tiger was an early investor in companies like Facebook, Zynga, and LinkedIn.
Research In Motion - The BlackBerry maker's stock has been upgraded to "hold" from "underweight" at Jefferies, with the firm saying it now sees a much more positive market reception for the new BlackBerry 10 operating system.
Whole Foods - Goldman Sachs has upgraded the grocery chain's shares to "buy" from "neutral," saying the company is ideally poised to benefit from secular trends in healthy eating.
Zipcar - The instant car rental company's shares have been upgraded to "buy" from "neutral" at Goldman Sachs. Goldman says it sees more earnings stability, plus increasing potential for Zipcar as an acquisition target.
Schiff Nutrition - Germany's Bayer says it does not intend to increase its $34 a share takeover bid for the U.S. based vitamin maker, despite a higher $42 a share bid from Reckitt Benckiser.
Chico's FAS - The clothing retailer reported quarterly profit of $0.25 per share, three cents above estimates, and also increased its quarterly dividend.
—By CNBC's Peter Schacknow
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