Green Mountain’s Stellar Quarter, Goldman Stumbles on Forex Gamble, and 3 More Hot Stocks
Green Mountain Coffee Roasters (NASDAQ:GMCR): Green Mountain Coffee shares are surging nearly 20 percent, after the company reports EPS of 89 cents, 14 cents beyond analyst expectations, and revenue of $1 billion, which beat by $33.73 million. Lower green coffee prices helped boost profitability as revenue growth for portion packs — up 11 percent to $777.9 million — and brewers and accessories (up 27 percent to $190.4 million) fared better than expected, and helped to offset a dip in royalty income. Green Mountain also upped its capital return plan for shareholders, with a $0.25 per share dividend $1 billion in share repurchases planned.
Goldman Sachs Group (NYSE:GS): Goldman Sachs was apparently “burned” by bad currency calls during the third quarter, losing more than $1 billion on currency trades as its foreign exchange unit produced a loss that spurred Goldman’s weakest revenue — at $1.3 billion — in fixed-income, currency and commodities trading since the height of the financial crisis. “Specific positions could not be learned, but the bank was anticipating that the Federal Reserve would begin winding down its monetary-easing programs,” Reuters reported.
Tiffany & Co. (NYSE:TIF): Tiffany has declared a $0.34 per share quarterly dividend, in-line with its previous dividend. It has a forward yield of 1.69 percent, and is payable on January 10 for shareholders of record on December 20. It has an ex-dividend date of December 18.
Micron Corp. (NASDAQ:MU): Shares of Micron are up nearly 5 percent after Green Light Capital’s David Einhorn discloses a long position in the company, at the Robin Hood Investors Conference. However, a position in the company is nowhere to be found on Green Light’s 13F filing from the third-quarter, indicating that the firm bought in during the fourth-quarter. Micron’s shares have already tripled so far this year.
ConocoPhillips (NYSE:COP): ConocoPhillips will be adding a new drilling rig to its assets in Alaska, making it the second rig to be added to its Kuparuk fleet since the Legislature passed a major oil tax cut earlier this year. ConocoPhillips President Trond-Erik Johansen says the tax cut improved the business climate in Alaska, and added in a release that the company will have more announcements in the future about production-boosting investments on the slope.
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