Daily Stock Catalyst Cheat Sheet: Ford Motor, US Steel, Symantec, Weatherford, Zynga
Ford Motor Co. (NYSE:F) and its Ford Motor Credit subsidiary has been upgraded by Fitch from ‘BB+’ to ‘BBB-‘, with a Rating Outlook for both as stable. Fitch reports that the upgrade credits the companies’
“significantly improved financial performance, balance sheet repair, and product portfolio improvement that have taken place over the past several years.” Ford Earnings Sneak Peek>>
United States Steel Corp. (NYSE:X) forecasts that its tubular segment will perform well with results very much like its first quarter. In addition, the company expects that its flat-rolled segment results will slide due to high maintenance costs. U.S. Steel Earnings Cheat Sheet>>
Symantec Corporation (NASDAQ:SYMC) revealed some figures during its fourth quarter earnings conference call, such as, its earnings per share consensus is 43 cents, and revenue at 1.7 billion. Symantec also forecasts its first quarter GAAP deferred revenue growth to be between 1.3 percent and 1.7 percent.
Weatherford International Ltd. (NYSE:WFT) forecasts improved and continued growth in both hemispheres, featuring expanding profits in its Latin American sector, shored up especially in Brazil, Colombia, Mexico and Venezuela. The same is projected for the Eastern Hemisphere in 2012, with a special positive emphasis upon Europe and Russia, plus sustained recovery in North Africa, the Middle East and the Asia Pacific areas, alongside net contributions in the second half of the year arising from the completion of unfavorable contracts and new contracts that contain better terms and pricing. Finally, the company currently projects an effective tax rate of around 35 percent, the actual rate of which may vary.
Zynga, Inc. (NASDAQ:ZNGA) shares are currently down 39 percent from March 26, and Baird’s note of caution has them falling again Tuesday. The analyst cites first quarter payments data in Facebook’s most recent S-1, in which Zynga posted net bookings of $230 million from Facebook transactions, implying that the firm’s total bookings were only some 300 million, missing its own estimate of 320 million.
However, Baird remains positive regarding Zynga’s long-term positioning in social and mobile gaming. Zynga Earnings Outlook>>
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