Alcoa’s Earnings Due After the Bell, Toyota to Shy From Volume Strategy, and 3 More Hot Stocks
Alcoa (NYSE:AA): With its earnings due after the bell on Monday, analysts are projecting that Alcoa’s second-quarter EPS was flat at $0.06, and that revenue slipped 2.3 percent to $5.83 billion. ”The company has been hit hard in the past six months from both waning manufacturing overseas and a decreasing spot price of aluminum,” according to Seeking Alpha contributor Quoth the Raven.
Toyota Motor Corp. (NYSE:TM): Volume will not be Toyota’s spearheading strategy, according to the company’s new top executive for North America, Satoshi Ozawa. Ozawa contends that reining in incentives is “the first challenge” to building brand worth to protect Toyota’s brand and keep incentives from cutting into long-term value. His statements come while Toyota’s sales goals for its Prius hybrid look increasingly dubious.
Novartis (NYSE:NVS): Novartis drug Secukinumab has been proven to be more effective at clearing skin in patients with moderate-to-severe plaque psoriasis, a painful skin condition characterized by itching and scaling, than Amgen’s (NASDAQ:AMGN) Enbrel in Phase III trials, which saw Secukinumab meet both its primary and secondary targets. The two companies will be fighting it out for a slice of the 125 million-patient market who suffer from the condition.
ING Groep NV (NYSE:ING): ING has agreed to sell its 50 percent stake in the ING-BOB Life Insurance Company joint venture to BNP Paribas Cardif, the insurance wing of BNP. The sale is not expected to have a material impact on ING Group results, and is a part of the bank’s plan to shut down its insurance and investment management businesses.