Finish Line Partners With Macy’s and 4 Hot Stocks Attracting Investor Attention
Research In Motion Limited (NASDAQ:RIMM): According to the Wall Street Journal, Research In Motion Limited’s Chief Executive Officer Thorsten Heins said that he met with CEOs from other companies to discuss the possible licensing of RIM’s BlackBerry10 operating system as part of RIMM’s strategic review, but hasn’t offered specifics nor has he stated when the strategic process will be completed.
Finish Line Inc. (NASDAQ:FINL): Macy’s (NYSE:M) and Finish Line Inc. announced that Finish Line-branded athletic footwear shops will be opened in more than 450 Macy’s department stores across the United States and online at macys.com. The rollout process for the 450+ locations, which will be operated by Finish Line as a leased department, will begin in the Spring of 2013 and is expected to be completed by Fall 2014. For the remaining approximately 225 Macy’s stores that carry shoes, Finish Line will manage the athletic footwear assortment and inventory beginning in the Spring of 2013 without the staffing or branding provided in the leased departments. Athletic shoe assortments selected by Finish Line will also be available on macys.com beginning in Spring 2013, subject to the signing of a final online agreement. Finish Line will receive sales and corresponding profits less the licensing fee paid to Macy’s. Longer term, this agreement is expected to result in additional sales to Finish Line of $250-$350 million, annually.
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Walgreen Co. (NYSE:WAG): Walgreen Co. reports revenue of $17.07 billion and a consensus of$17.14 billion. This year’s adjusted fourth quarter results exclude the negative impact of 9c per diluted share that is related to the company’s transaction with Alliance Boots GmbH, 10c per diluted share from the quarter’s life in and first out (LIFO) provision and 5c per diluted share in acquisition related amortization costs. The company intends to account for their 45% investment in Alliance Boots using the equity method of accounting on a one-month lag basis.
General Electric Co. (NYSE:GE): According to Reuters, General Electric Co.’s Chief Financial Officer Keith Sherin told an investor meeting at the company’s Crotonville, NY training center that they expect to stop the purchase of $7 billion bank deposits in a “reasonable time frame,” from MetLife (NYSE:MET).
Facebook, Inc. (NASDAQ:FB): According to the results of a Global Web Index survey, Facebook, Inc. and Twitter Inc. have millions of users in China where the social networking services are banned. Bloomberg reported that Facebook grew from 7.9 million in 2009, to 63.5 million in the second quarter, while Twitter users tripled to 35.5 million during the same period.