Nvidia and Cisco Lead These 4 Super Hot Stocks
Morgan Stanley (NYSE:MS) anticipates possibly having to post $9.6 billion more in collateral to counterparties and some exchanges if its long term credit rating is dropped by three levels by two two ratings organizations—Moody’s Investors Service is considering doing so, which would cause Morgan Stanley to move down from A2 to Baa2. This matter should be resolved by June.
Investing Insights: JPMorgan’s Troubles Compounded By SEC Investigation.
NVIDIA Corporation (NASDAQ:NVDA): First quarter results for NVIDIA were posted: Net income is reported at $60.44 million ($0.10 per share) vs. $135.22 million ($0.22 per share) in the previous year preiod. Revenue was down to $924.9 million in comparison with $962.04 in the previous year quarter. NVIDIA anticipates second quarter of FY 2013 revenue to be between $990 million and $1.05 billion.
Cisco Systems, Inc. (NASDAQ:CSCO): FBN Securities has issued wary comments regarding Cisco’s Q3 earnings call, but still recommends buying the company’s shares because Cisco continues to guide for stable growth with steady margins. FBN maintains an Outperform rating for Cisco, but has reduced the company’s share price target from $27 to $24.
Wells Fargo & Company (NYSE:WFC) now has to purchase back approximately $2.2 million in auction-rate securities from two investors who complained that the banking firm misrepresented the investment opportunities, according to an arbitration panel. Such securities are debt instruments whose interest rates are intended to be reset at frequent (daily, weekly, or monthly) auctions. In the beginning of 2008 many auctions failed, resulting in such investors tied to a product that had been sold as safe and liquid by some firms.
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