Petrobras Strikes Black Gold and 4 Morning Hot Stocks in Action
Home loan servicer and lender Nationstar (NYSE:NSM) reports an adjusted Q2 EPS of $0.44, same as in the last quarter. Acquisitions from BofA, MetLife, and Aurora help boost servicing portfolio to $193 billion, up 87 percent on Q1. On a q-on-q basis, service fee income climbs 25 percent and origination revenue is up 53 percent.
Comparable store sales at sporting goods retailer Dick’s Sporting Goods (NYSE:DKS) climb 3.8 percent y-on-y split between a 2.9% increase at Dick’s Sporting Goods stores, +4.4% at Golf Galaxy, and +34.6% in eCommerce. The retailer manages to reduce SG&A expenses by 37 bps to 22.33 percent of sales. For the full year, same store sales are expected to grow 4-5 percent.
Estee Lauder‘s (NYSE:EL) sees revenue boost as new offerings drive double-digit gains in Skin Care and Makeup; expects sales to grow at 6-8 percent for the full year, and FQ1 EPS at $0.68 – $0.74, saying FQ1 will be a tough act to follow.
In “one of the most significant oil discoveries” in the country’s offshore subsalt area, Brazil’s Petrobras (NYSE:PBR) reports finding a 400 meters column in the Carcara prospecting region containing continuous and connected oil reserves of excellent quality. This find could be as big as the 2007 discovery in the Lula field, estimated to be worth about 8.3 billion barrels of oil and natural gas.
Same store sales at Saks (NYSE:SKS) are up 4.7 percent y-on-y following good demand for apparel, jewelry and fashionable items. Increased tech spending boosts SG&A expenses by 20 bps to 27.1 percent of sales, while previous guidance is kept intact.
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