Schwab Pops on 2014 Revenue Estimate and 2 Other Hot Stocks to Watch
The Charles Schwab Corp. (NYSE:SCHW): Current price $23.48
On Tuesday, Schwab said that it expects revenue to grow between 3 to 5 percent more rapidly than expenses next year, reversing a higher-than-expected rise in costs in the first half. The retail brokerage firm made the projection as it reported that its third-quarter profit rose by 17 percent year-over-year to $290 million, while revenue jumped by 15 percent to its highest figure in 13 years. In the third quarter, earnings per share came to 22 cents, surpassing analysts’ consensus estimate of 20 cents, said Thomson Reuters I/B/E/S. Shares are up by more than 7 percent Tuesday in heavy trading.
Micron Technology Inc. (NASDAQ:MU): Current price $17.27
Serus Corporation announced that Micron Technology has selected its solution to optimize its world supply chain. Micron plans to implement the Serus cloud-based solution across its worldwide operations. Vice President of Supply Chain, Micron Technology, John Waite commented that, “After evaluating multiple solutions for improving our supply chain visibility, we determined the Serus solution best addresses our global issues in a timely and cost-effective manner. Serus’ cloud-based architecture and deep semiconductor expertise also played a role in our decision process.”
Teradata Corp. (NYSE:TDC): Current price $44.05
Shares are down more than 16 percent Tuesday in extremely heavy volume after the data management firm lowered its full-year guidance, saying that its business outside of the United States and Europe had to struggle during the last quarter. If the losses hold for the trading session, shares would close near the bottom of their 52-week range. Teradata released third-quarter profit and revenue numbers that missed Wall Street predictions, attributed to a 21-percent slide in revenue from the Asia, Pacific, and Japan markets, and a 19-percent decrease in revenue from the Middle East and Africa.
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