Apple Gets a Boost Before Earnings, JPMorgan Close to FERC Settlement, and 3 More Hot Stocks

Apple Inc. (NASDAQ:AAPL): It’s the day before earnings, and BMO Capital’s Keith Bachman has mostly good things to say about the iPhone maker. Bachman believes Apple will deliver upside to revenue, gross margin, and earnings per share for the June quarter, and although “he has less history on the new guidance approach,” the firm is expecting September revenue to be flat quarter-over-quarter, or around $2 billion less than consensus estimates. The price target was hiked from $450 to $480.


JPMorgan Chase (NYSE:JPM): JPMorgan and the Federal Energy Regulatory Commission are nearing the completion of a $410 million agreement that would put to rest accusations that the bank manipulated energy markets in California and the Midwest. The same deal will see JPMorgan forgo $200 million in unpaid claims from electricity buyers in California, though three energy traders who were targeted by the commission and the bank’s commodities chief, Blythe Masters, will escape sanctions.


UBS AG (NYSE:UBS): Second-quarter net profits for UBS have weighed in at an impressive 62.35 percent gain to 690 million francs ($734.36 million) versus the consensus of 558 million francs. The bank will be taking a charge of 865 million francs on litigation, impairments, and other provisions, and has reached an agreement in principle with the U.S. Federal Housing Finance Agency in a lawsuit over soured mortgage investments, though the full cost has yet to be authorized. UBS’s pretax operating profit clocked in at 1.02 billion francs.


Koninklijke Philips NV (NYSE:PHG): Second-quarter net profit saw gains of 10.8 percent to 317 euros against the forecasts calling for 262 million euros. The Ebitda saw a substantial 30 percent increase to 530 million as expected, making for the fifth quarterly improvement in a row. Revenue grew 3 percent to 5.65 billion on a comparable basis versus forecasts of 5.61 billion.


SAP (NYSE:SAP): SAP co-CEO Jim Hagemann Snabe is planning to resign from his post in May, which would make Bill McDermott the lone holder of the reins of the German software giant. “After more than 20 years with SAP, I have decided that it is time for me to begin the next phase of my career, closer to my family,” Snabe, who is originally from Denmark, said in a statement. He will also join SAP’s supervisory board.


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