Fifth Third Loses Investment Chief and 4 Hot Movers Seeing Action
Hudson City Bancorp (NASDAQ:HCBK), the holding company for Hudson City Savings Bank, will post the results of operations for the quarter ended September 30th on October 24th. This earnings release will detail the results of operations along with the financial condition of the company and will be issued ahead of the opening of equity markets.
Huntington Bancshares (NASDAQ:HBAN) consists of a multi-state diversified regional bank holding company with a market cap of $6.14 billion. It’s anticipated that it will post a fiscal year 2012 third-quarter earnings per share of 17 cents on revenue of $702.49 million, compared with 16 cents on revenue of $665.04 million in same period a year ago. Thus far in 2012, the shares have picked up 30 percent in value.
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OCZ Technology Group (NASDAQ:OCZ) is now fighting a spate of lawsuits claiming that the solid state drive company violated Securities and Exchange Commission rules by providing misleading characterizations concerning its financial results in recent months.
Fifth Third Bancorp’s (NASDAQ:FITB) Asset Management President and Chief Investment Officer Keith Wirtz announced that he will step down following almost 10 years in that position, says the Cincinnati Business Courier. Wirtz did not reveal details of his departure or future plans and it not known whether Fifth Third has yet named a successor.
Seagate Technology (NASDAQ:STX) saw its Buy downgraded to Sell by Citigroup and its price target lowered from $37 to $25. Citigroup explained that, “We are revising down our fourth quarter 2012 earnings estimates by 23 percent to $1.40 based on lower unit shipments of 58 million (from 63 million) and lower GM of 28.7 percent (from 30.5 percent). This is driven by our lowered fourth quarter TAM assumption of 140 million (vs guidance of 150-155 million). We anticipate that GM will be pressured by low utilization, normal price declines, and lower mix of enterprise. For calendar year 2013, we are revising down our earnings per share to $6.01 (from $6.98) given lower shipments of 240 million (from 254 million) and a more conservative GM assumption of 28.3 percent (from 29.5 percent).”