Facebook to Lose Payvment Storefronts and 4 Hot Stocks Seeing Action Today
Caterpillar Inc. (NYSE:CAT): Current price $96.83
The company said, “We are expecting that sales and revenues during the first quarter are likely to be significantly lower than the first quarter of 2012. The middle of our full-year outlook for sales and revenues is about $2 billion below 2012 sales and revenues. We expect that sales and revenues will decline more than $2 billion in the first quarter of 2013, as compared with the first quarter of 2012. Much of the expected decline in first quarter sales is a result of the continuation of reduced production as dealers are expected to continue to lower their new machine inventories. We expect that dealer inventory reductions will be negative to sales in the first quarter of 2013, while in the first quarter of 2012, dealers increased inventory which benefited Caterpillar Inc.’s sales.” Profit is also expected to be significantly lower in the first quarter of 2013 as a result of lower expected sales, the negative cost impact of continuing low production levels, and declining inventory.
Research In Motion Limited (NASDAQ:RIMM): Current price $16.68
According to The Next Web, Lenovo (LNVGY) said that comments by Chief Financial Officer Wong Waiming stating that the company was interested in buying Research in Motion Limited were taken out of context. A spokesperson clarified, “We are aware that Lenovo’s CFO, Waiming, was speaking broadly about M&A strategy in a recent interview. RIM was raised as a potential target by the journalist and Mr. Wong repeatedly answered in a manner consistent with all of our previous statements on M&A strategy. Lenovo is very focused on growing their business, both organically and through M&A. When inorganic ideas arise, we explore them to see if there is a strategic fit.”
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Hess Corporation (NYSE:HES): Current price $62.04
Hess Corporation announced that they will pursue the sale of their terminal network in the United States and that they will complete their exit from the refining business by closing their Port Reading, New Jersey refinery. The terminal network is located along the U.S. East Coast and has a total of 28 million barrels of storage capacity in 19 terminals, 12 of which have deep water access.
NYSE Euronext, Inc. (NYSE:NYX): Current price $33.54
Facebook, Inc. (NASDAQ:FB): Current price $32.37
According to AllThingsD, effective March 1, Payvment and their companion site, Lish.com, will shut down their Facebook (NASDAQ:FB) ecommerce platforms. Payvment’s customers, which operate 200,000 storefronts on Facebook, will be able to transfer their accounts to Ecwid.
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