Constellation Brands Reports Earnings and 3 Hot Stocks Attracting Attention

Morgan Stanley (NYSE:MS)

It’s just one more sign of Wall Street’s ongoing battle with cautious markets, economic headwinds, and political uncertainty. Morgan Stanley is reportedly cutting as many as 1,600 jobs from its institutional securities business, about 6 percent of its workforce within the unit, starting next week. The bank joins a growing list of financial institutions that are trimming their work force. In the long run, the reductions promise to yield a leaner, more efficient industry.

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Bank of America Corporation (NYSE:BAC)

With financial stocks performing so well in 2012 and making bull noises heading into 2013, it may come as a surprise that analysts at Credit Suisse downgraded Bank of America from “Outperform” to “Neutral,” suggesting that the bank’s current valuation is ahead of its near- and mid-term performance prospects. Despite efforts to drive efficiencies, it may be harder for the bank to grow revenues faster than its competitors — but it could be about time for a break after tremendous growth in 2012.

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Constellation Brands Inc. (NYSE:STZ)

Constellation’s third-quarter fiscal-2013 financial results were received by a tepid market on Wednesday. Consolidated net sales grew 9 percent on a comparable-store basis and operating income grew 13 percent. Comparable diluted earnings per share works out to $0.63, a 26 percent year-over-year increase.

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McDonald’s Corp. (NYSE:MCD)

McDonald’s generated a flurry of conversation yesterday about the introduction of chicken wings to its menu. Today, Bryan Elliot, an analyst at Raymond James, slapped the restaurant with a downgrade to “Market Perform” from “Outperform,” citing a 2013 decline in revenue on the back of slow sales growth.

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