Stock Catalyst Cheat Sheet: Halliburton, Intel, Sprint, Huntington Bancshares, Illumina
Halliburton Company’s (NYSE:HAL) first quarter earnings conference call reveals a decided move to oil, away from the currently low priced natural gas. Five of the company’s fracking fleets are following this strategic move, and its gas rig count has shrunk more than forecast. Its quarter results were said to be strong, despite disruptions from moving the rigs, and in the future gas rig count deficits will be offset by those pumping oil and liquids. Halliburton Company Earnings: Profits Grow by Double Digits For Fifth Straight Quarter>>
Intel Corporation’s (NASDAQ:INTC) introduction of quad-core Ivy Bridge chips will occur next Monday, according to CEO Paul Otellini, in a message to shareholders, and that the second launch (dual core) is expected in June. The dual core chips are intended for laptops such as the Dell (NASDAQ:DELL) XPS 13 ultrabook, MacBook Air (NASDAQ:AAPL) and HP (NYSE:HPQ) Envy, according to a CNet report.
Sprint Nextel Corp. (NYSE:S): The Google (NASDAQ:GOOG) Wallet, a year after introduction, still has only Sprint as its carrier partner and one smartphone line, according to a Business Insider report. Verizon Wireless (NYSE:VZ) does not support Wallet service, and the situation regarding mobile payments remains the same as that company, along with AT&T (NYSE:T) and T-Mobile (DTEGY) might introduce their own mobile payments service called Isis quite soon.
Huntington Bancshares Inc. (NASDAQ:HBAN) reveals details from its first quarter earnings conference call. The company is cautiously optimistic despite the global debt uncertainty, and that the Midwest region is leading the U.S. recovery. Modest growth in net interest income, total loans, and fee income is expected, with somewhat less increase in noninterest expenditures. Also projected is a continual improvement in credit quality contrasted with current levels.
Illumina Inc. (NASDAQ:ILMN) is apparently re-electing its incumbent directors, a sign that it remains opposed to a Roche (RHHBY) takeover. Accordingly, the latter company has elected to not extend its $51.00 cash tender offer for all of the shares of Illumina, which will be allowed to expire at 6:00 p.m. EDT, on April 20, 2012. Roche CEO Severin Schwan summed up his company’s position by commenting that “We continue to hold Illumina and its management in very high regard but, with access only to public information about Illumina’s business and prospects, we do not believe that a price above Roche’s offer for Illumina of $51.00 per share would be in the interest of Roche’s shareholders. We have throughout this process desired to engage in a constructive dialogue with Illumina’s management, listen to its views of value and prospects, and offer a fair and adequate price to Illumina’s shareholders. But in the absence of such discussions, our duty to be disciplined with the assets of Roche’s shareholders has led to this decision. Roche will continue to consider options and opportunities to develop further its portfolio of businesses in order to expand its diagnostics leadership position.”
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