Toyota’s Profit Surges, Intel’s New Division, and 3 More Hot Stocks
Toyota Motor Corp. (NYSE:TM): Toyota’s net profit saw a surge of 70 percent to 438.4 billion yen ($4.4 billion), helped considerably by the weaker yen and cost reductions; the consensus called for 451.69 billion yen. Revenues saw gains of 16.2 percent to 6.28 trillion, with U.S. volume picking up 12.2 percent to 589,390 vehicles riding on the strong performance of the redesigned Corolla and the new Lexus IS. Toyota’s numbers easily trounced industrywide growth, which fell at 8.9 percent.
Intel Corp. (NASDAQ:INTC): Intel is creating a new embedded products unit, the Internet of Things Solutions Group, which will report directly to CEO Brian Krzanich. The new division springs up just a month following Intel’s launch of the low-power Atom CPU, intended specifically for embedded devices. The effort is meant to ensure that Intel doesn’t get left behind as more and more lifestyle products are developed with chips and processors incorporated inside.
Wells Fargo & Co. (NYSE:WFC): Wells Fargo has apparently been under investigation for more than a year over its mortgage bonds practices, Bloomberg reports. Regulators are working to determine if Wells Fargo fell in violation of the Financial Institution Reform and Recovery Act; the probe is one of many looking into the bank’s role in the issuance of subprime mortgage loans that ultimately spurred the U.S. housing and financial crises.
Honda Motor Co. (NYSE:HMC): Honda was able to spark a 212 percent gain in sales in China over October 2012, moving 75,000 vehicles in the country last month. The results signal that demand for Honda’s cars is returning as anti-Japanese sentiment subsides after a territory dispute between China and Japan spurred a significant drop and negative attitudes toward Japanese products. As for the year to date, Honda’s sales in China are up 15.8 percent, to 494,108 units.
Molson Coors Brewing Co. (NYSE:TAP): Earnings per share of $1.45 was ab1le to beat by 6 cents, though revenue of $1.17 billion missed by $0.05 billion. The company says consumer beer demand was weak across its global markets during the third quarter. In the U.S., MillerCoors saw a 1.9 percent slide in sales, as commodity and brewing costs increased; the bottom-line beat was attributed largely to cost-cutting measures, lower interest expenses, and a favorable tax rate.
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