Facebook Joins Internet Crusade, JPMorgan Nears Board Announcement, and 3 More Hot Stocks
Facebook (NASDAQ:FB): Facebook has formed an alliance with Samsung (SSNLF.PK), Qualcomm (NASDAQ:QCOM), Nokia (NYSE:NOK), and others to launch a project called Internet.org, which hopes to bring Internet access to the two-thirds of the world’s population who do not yet have it. Around 5 billion people do not have Internet access — a sizable pool of potential subscribers for Facebook and other Web-based services.
JPMorgan Chase (NYSE:JPM): JPMorgan is anticipated to announce two new board members with finance and risk management experience to replace David Cole and Ellen Futter, who both exited from the board earlier this summer after barely being re-elected following the London Whale fiasco. Bloomberg says that the board has yet to vote on the new candidates, but a decision is expected next month.
Goldman Sachs Group (NYSE:GS): Goldman has sunk $40 million into SugarCRM, a sales-tracking software that will go head-to-head with the likes of Salesforce.com and others. The investment will be used toward further research and development efforts and to expand the firm’s sales initiatives. SugarCRM had already secured $79 million before Goldman’s cash injection.
Hewlett-Packard Co. (NYSE:HPQ): Analysts are expecting HP’s earnings per share to drop to 86 cents from $1 a year earlier with revenues slipping 8 percent to $27.29 billion when the company releases its earnings report after the bell Wednesday. Seeking Alpha contributor Trefis says that the PC maker is ”still plagued by a weak enterprise demand and a slowing PC market,” adding, “we expect that these factors will continue to affect HP’s revenues across its business divisions.”
Staples (NASDAQ:SPLS): Shares are cratering more than 12 percent in the wake of a poor quarterly report, which saw misses for both earnings (EPS of 16 cents, missing by 3 cents) and revenue ($5.31 billion, missing by $0.06 billion). Comparable store sales sank 3 percent during the period, as a 2 percent decline in traffic and a 1 percent drop in average order size took their toll. The company now expects full-year EPS of $1.21-$1.25 versus the $1.30-$1.35 consensus.