Lexmark RETREATING and 4 Must-See Hot Stocks
Lexmark International Inc (NYSE:LXK): After reducing its second quarter earnings per share and revenue outlook, printer maker, Lexmark International Inc. (NYSE:LXK) is retreating. The company blamed currency fluctuations as well as weaker than expected demand, particularly in Europe, for the reduction of its profits. They expect the same factors to negatively affect their results in the second half of 2012. In addition, Lexmark predicted that it will report a second quarter adjusted EPS of 87c-89c, down from its previous guidance of 95c-$1.05. This adjusted EPS excludes restructuring and acquisition-related adjustments. In early trading, Lexmark sank 7.82% to 422.41, and their shares are presently trading at 15.26% lower. Lexmark is not alone in this downward trend, Xerox (NYSE:XRX) has retreated at 1.62% to $7.28 and Hewlett-Packard (NYSE:HPQ) has also lost value at 2.12% to $18.94.
JPMorgan Chase & Co. (NYSE:JPM): JPMorgan (NYSE:JPM) has issued a first quarter earnings restatement that said, “Recently discovered information raises questions about the integrity of the trader marks, and suggested that certain individuals may have been seeking to avoid showing the full amount of the losses being incurred.”Three employees, Achilles Macris, Javier Mertin-Artajo, and Bruno Iksil, (NYSE:JPM), have been stripped of their trading duties, and are now off the payroll, as they are at the center of the Chief Information Officer’s trading blunder, they have since left the bank. JPMorgan (NYSE:JPM) will restate their first quarter results, cutting their net income by $459M, due to loss of their CIO. Shares of JPMorgan Chase & Co. are trading at 5.49% higher today.
SUPERVALU INC. (NYSE:SVU): UBS (NYSE:UBS) said that shares of grocery sales from U.S. supermarkets are down from 66% to 51%. This decline, according the Wall Street Journal, is because Wal-Mart (NYSE:WMT) and Target (NYSE:TGT) chains have started using food to attract customers. Shares of SUPERVALU INC. are trading 8.18% lower today.
Safeway Inc. (NYSE:SWY): Though big box retailers like Wal-Mart and Target have successfully grabbed their market share and caused difficulty for many grocery stores, they too, are feeling the pressure from the high-end Whole Food Markets and the low-end discount chains and warehouse clubs. Shares of Safeway Inc. are trading 1.72% higher today.
American Realty Capital Trust Inc. (NASDAQ:ARCT): The company sports a 6.5 % dividend yield, as well as a 100% occupancy ratio. Though the sale-leaseback concept is not a new idea, Cramer said that it has become incredibly popular because it gives “domestic security” and pays a dividend. He also suggested that this type of business model, is just what investors should be looking for. Shares are trading at 0.74% higher today.
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