5 Hot Stocks: Infosys Earnings Crushes Shareholders, Wynn Resorts Lawsuit
Markets rallied back all day. Apparently, investors have gotten over this morning’s fear following the release of weaker than expected U.S. economic data. As the focus returned to progress, stocks were able to catch a bid. Here are five stocks with super hot news.
Indian software exporter Infosys Ltd ADR (NASDAQ:INFY) having estimated sales of $7.08B-$7.2B in October, predicts ~$7.03B in sales for the year period ending March 31. FQ3 earnings of 23.7B rupees ($458M) up 15.4%with Y/Y Topping quarterly profit expectations.
After announcing a $200M buyback of its common stock from cash on hand over the next 12 months, Dick’s Sporting Goods, Inc. (NYSE:DKS) shares caught a bid. Blaming warm winter weather the company is expecting Q4 profit of $0.87-$0.88 and full-year $2.01 to $2.02, and now additionally lowers the high-end of Q4 and FY2011 EPS guidance by a penny.
Tractor Supply Company (NASDAQ:TSCO) outperform rated shares are trading 8.10% higher today after the company raises FY11 EPS to $2.97-$2.99 from $2.85-$2.89, FY11 EPS consensus of $2.91. Tractor Supply notes that, compared to the previously indicated range of 5c-6c per diluted share the 53rd week in FY11 represented a benefit of approximately 9 cents per diluted share. RW Baird raised Tractor Supply price target to $85 from $83, following the company’s positive Q4 pre-announcement. Current momentum, increased traffic and comps, and its small market opportunity were cited as reasons.
A lawsuit filed by Universal Entertainment’s Kazuo Okada has filed a lawsuit Wynn Resorts, Limited (NASDAQ:WYNN) seeks to force Wynn Resorts to open up their books. This pertains to a $129M pledge to a Macau university and to delve into details following Stephen Wynn’s divorce. Okada says he’s seeking to protect his $380M stake in Wynn.
Mad Money’s Jim Cramer has highlighted the newly-minted Fortune Brands Home & Security, Inc. Common Stock (NYSE:FBHS). This is the home-products division of the old Fortune Brands while the new Fortune Brands is all about everything for the home. Even at times without a boom in new home construction, Cramer noted that Fortune Brands has a solid, profitable business and also commented that the average age of a U.S. home is pushing 40 years. The new Fortune Brands has a 22% long-term growth rate.
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