Apple’s iPhone Sales, Bristol-Myers Gets Upgraded, and 3 More Hot Stocks
Apple (NASDAQ:AAPL): Morgan Stanley’s Katy Huberty has pointed out that iPhone sales seem to be tracking above initial estimates, for about 31 million units during the June quarter. Morgan Stanley’s own estimate was about 26 million units, while the Street consensus falls at 27 million.
Bristol-Myers (NYSE:BMY): Citigroup has raised its rating on Bristol-Myers from Neutral to Buy, and also lifted its price target to $55 from $33. Citi didn’t stop there — it increased its 2017 earnings per share forecast by 31 percent, putting it a whopping 27 percent above consensus. The company’s “very broad checkpoint agent [is] positioned to capture a very significant share of an emergent $24 billion checkpoint agent market,” the firm said.
Sony Corp. (NYSE:SNE): With Samsung and LG Electronics floundering with OLED technology, Sony might have a window to sneak through with its more affordable LCD TVs and the 4K line that falls between the LCD and OLED. An OLED quipped set from LG will run about $9,900 at retail. Separately, Sony’s CEO Kazuo Hirai has acknowledged that the company is exploring Third Point’s Daniel Loeb’s proposal to spin off its entertainment arm, noting that the company is committed to keeping its major shareholders happy.
Toll Brothers Inc. (NYSE:TOL): Toll Brothers have reported a strong quarter, with EPS of $0.14 beating by $0.06, and revenue of $516 million beating by $4.94 million. Home deliveries rose 33 percent by units, and up 38 percent in dollars year-over-year. The average price per ticket rose $20,000, while the average price of signed contracts fell at $678,000, up from $585,000 a year ago. Gross margins also expanded by 0.1 percent.
Staples (NASDAQ:SPLS): Staples has reported near misses on both its earnings and revenue, which haven’t exactly been exciting investors. Online sales only grew a feeble 3 percent, while comparable store sales fell 2 percent year-over-year. Weakness in computer and tech sales were consistant with the macro PC climate, although this was partially offset by stronger tablet sales.
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