Facebook Smacked and 4 High Demand Stocks Catching Eyes
Morgan Stanley (NYSE:MS) Q3 earnings report included a revised risk measure that caused some concern, as the firm narrowed the window over which it gauges risk. The firm’s earnings release and financial supplement suggest that its Value-at-Risk measure, which is the amount a company is at risk of losing on a given day, averaged $63 million during Q3, which is down from $76 million the quarter before and $99 million last year.
Alpha Natural Resources, Inc. (NYSE:ANR): Producers like Bristol’s Alpha Natural Resources, which has rich reserves of coking coal, faces double the trouble as it had hoped that metallurgical sales to China would keep being robust, but China’s economy has begun to sputter resulting in a loss of $2 billion for Alpha during Q2. The company is also laying off 1,200 employees.
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Facebook Inc (NASDAQ:FB) shares closed down over 4.5 percent recently, but Sterne, Agee & Leach’s Arvind Bhatia states it would be a buyer on the weakness. In a note released today, Bhatia decided to keep Buy rating on Facebook. Although the switch to mobile use continues to be uncertain and the expiration of lockups has the possibility of putting more pressure on the shares, he argues that too much negativity is already associated with the stock, especially given its long-term prospects. He lowered his price target from $37 to $26 on the stock.
General Electric (NYSE:GE) will declare their Q3 results on Friday, and data gathered by various analysts suggest that the estimated earnings of 36 percent on each share is predicted, versus last earning per share of 22 percent, on an estimated revenue of $36.95 billion versus last year’s revenue of $34.81 billion.
Citigroup Inc. (NYSE:C): Mike Corbat, who is the new CEO of Citigroup (NYSE:C), set up interim reporting lines for his executive ranks, according to Reuters. A memo to company managing directors states that Bill Mills, who is currently the CEO for the North America region, is additionally to be interim CEO for Europe, Middle East, and Africa, which is the role Corbat previously held. Business and function heads previously reporting to former CEO Vikram Pandit or former COO John Havens are now to report to Corbat. The memo also states that Japan is to Gene McQuade.
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