OCZ Technology Shares Slump and 3 Morning Hot Stocks Demanding Attention
Yum Brands (NYSE:YUM) reported good numbers for the third quarter with net income rising 23% on the back of strong domestic demand and good growth in China. It added 192 locations in China, where its operating profit rose 22%. In the US, sales in restaurants open at least a year jumped 7%. Adjusted EPS for the quarter was $ 0.99 per share, while revenues rose 9% to $ 3.57 billion, while analysts expected earnings of $ 0.97 a share on revenues of $ 3.66 billion.
A report by research firm comScore that showed PC usage falling by 20% year-on-year in September leads analysts to believe that Facebook (NASDAQ:FB) could be impacted adversely by the trend, which reflects an increasing shift on the part of users to mobile devices.
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Shares of OCZ Technology (NASDAQ:OCZ) are trading down by almost 41% after a glut of bad news from the company. It named Ralph Schmitt as its new President and CEO with immediate effect, and applied to the SEC for additional time to file its 10-Q for the second quarter. The flash hard drive maker also issued a warning that net revenues for the quarter could be much lower than previous estimates of $ 110 million-$ 120 million.
In an effort to appease the European Commission which is investigating its domination of the search market, Google (NASDAQ:GOOG) has reportedly offered to brand its search results such as maps, airline flight details and other search results by adding its corporate stamp. Google’s rivals are unlikely to be impressed, considering their long-standing view that the search giant gives undue preference to its own results in search result displays.
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