Amazon’s Huge Hiring Spree, Loews’s Quarterly Results, and 3 More Hot Stocks
Amazon.com Inc. (NASDAQ:AMZN): Amazon is amassing a substantial hiring effort, bringing on 5,000 new employees to join the 20,000 who already work in the company’s vast warehouse network; the new workers will be placed at 17 of the company’s shipping locations. The boost will help fill out Amazon’s two-day shipping pledge, available to members of Amazon’s $79 per year Prime service. The online retail giant plans to open five more facilities this year after adding 20 locations last year.
Loews Corporation (NYSE:L): Earnings per share for the second quarter fell below expectations at 69 cents (missing by 10 cents), as the company books a net income of $269 million for the period, including a tax non-cash impairment charge of $142 million at HighMount Exploration & Production, related to the carrying value of its natural gas and oil properties.
Cal-Maine Foods Inc. (NASDAQ:CALM): Earnings per share of 55 cents missed analyst expectations by 22 cents, though revenue of $275.2 million did beat by $1.3 million. Net sales were $325.9 million for the period compared with $275.2 million for the fourth quarter a year ago. The company reported a net loss of $3.8 million for the period due to a one-time charge of $17 million, after tax, related to the settlement of a direct purchaser class claim against the company.
Micron (NASDAQ:MU): Micron has made updates to its intended closing of the Elpida transactions as it hopes to complete its acquisition of 100 percent of Elpida’s equity on Wednesday. The move will better position Micron in the fast-growing and higher-margin mobile DRAM market. The company is also hoping to finish the acquisition of a 24 percent share of Rexchip Electronics Corporation from Powerchip Technology Corporation at the same time.
Barclays (NYSE:BCS): Barclays has confirmed that speculation it is looking to raise equity is true, and intends to offer an update on its plans when it reports its half-year results on Tuesday. Last month, it was revealed that Britain’s lenders needed to raise around 27 billion pounds to fill a funding gap, with Barclays’s capital shortfall at about 3 billion pounds at the end of 2012.
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