Ultimate Market Recap: New iPhone Nuggets, Green Mountain Avalanche
7 Early Buzzing Stocks: Chesapeake Rebounds 2%, New iPhone With Larger Screen?
After large gains earlier in the week, shares of Chesapeake Energy Corp. (NYSE:CHK) bounced 2.15 percent higher before the opening bell. The natural as giant has been dealing with CEO disclosure issues, which includes Aubrey McClendon running a secret $200 million hedge fund.
Apache Corp. (NYSE:APA) shares declined 2.19 percent in early trading. The company announced that first-quarter earnings declined to $797 million, compared to $1.13 billion a year earlier. The quarter also included a $390 million write-down due to lower-than-expected natural gas prices in North America.
Apple Inc. (NASDAQ:AAPL) shares edged .64 percent higher early Thursday. The iLounge reports the new iPhone will be taller but not wider and display a 4 inch screen as opposed to the 3.5 inch screen on the iPhone 4S. Apple has not confirmed the details.
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Shares of Macy’s Inc. (NYSE:M) dropped more than 2 percent before the opening bell. The clothing retailer reported April same-store sales increased 1.2 percent, falling below estimates of 1.9 percent. Total sales at Macy’s for the four weeks ended April 28 gained 0.4 percent to $1.93 billion.
Amazon.Com Inc. (NASDAQ:AMZN) shares dipped .49 percent lower in early trading. The world’s largest online retailer recently found out that Target (NYSE:TGT) will no longer carry its Kindle product line. Target shares fell almost 2 percent.
Sara Lee Corp. (NYSE:SLE) shares fell more than 1.4 percent in pre-market trading. The global consumer-goods company reported fiscal third-quarter earnings of $123 million, compared to $185 million a year earlier. Sara Lee reported adjusted net income of 20 cents per share. By that measure, the company fell short of mean estimate of 25 cents per share.
Investor Insight: Did the Kindle Just Receive a Target on its Back?
Must-Know Morning News Cheat Sheet for Investors: May 3rd, 2012
Stocks: Green Mountain’s Horrific Earnings Crash, Microsoft’s Incredible Comeback
Green Mountain (NASDAQ:GMCR) shares were off 39 percent premarket after the company issued a profit warning. Its CEO Larry Blanford did say on the company’s fiscal two earnings call that he expects additional moderate growth in sales of its Keurig brewers and K-Cup packs, suggesting that Green Mountain’s story of growth is dying. For the quarter, adjusted earnings per share increased to $0.64 from $0.48 and sales jumped 37 percent to $885.1 million; inventory rose 100 percent.
Investing Insights: 7 Early Buzzing Stocks: Chesapeake Rebounds 2%, New iPhone With Larger Screen?
Showing their unhappiness with the weak demand for Google’s (NASDAQ:GOOG) Android tablets, PC manufacturers including Dell (NASDAQ:DELL), Hewlett Packard (NYSE:HPQ) and Acer are putting their R&D resources into developing Windows 8 (NASDAQ:MSFT) products, according to Digitimes. This also holds true for manufacturer Compal. The first ARM-based (NASDAQ:ARMH) tablets using Windows 8, are coming in October.
On Thursday, BMW AG reported higher-than-expected first quarter earnings thanks to higher sales but kept a conservative guidance for the year; this will come from increasing investments, additional production capacity and new technology. BMW Chief Executive Norbert Reithofer said, “We are still aiming to achieve new record figures for sales volume and pretax earnings in 2012.”
Economy: ECB Interest Rates
The ECB held its monetary policy meeting in Barcelona on Thursday and voted to keep interest rates steady, as the euro area’s economy moves towards recession. As expected, the ECB also left its main overnight lending rate at 1 percent, the level it has been at since late last year. All ears will be on Mario Draghi’s 2:30 P.M. ET press conference to hear him discuss his call for an EU “growth compact” to complement the “fiscal compact.”
Allstate, Skullcandy, Valueclick, Prudential, Teradata Attract Trading Eyes May 3rd
The Allstate Corporation (NYSE:ALL): Allstate reported Q1 adjusted EPS $1.42 versconsensus $1.12. Reported Q1 revenue $8.36B versus consensus $6.44B Shares of The Allstate Corporation are trading 4.22% higher today.
Skullcandy Inc (NASDAQ:SKUL): Skullcandy sees FY12 adjusted EPS $1.10-$1.20 versus consensus $1.16. Sees FY12 revenue $280M-$300M, consensus $288.05M. Shares of Skullcandy Inc are trading 8.77% lower today.
ValueClick Inc (NASDAQ:VCLK): Valueclick sees Q2 adjusted EPS 33c-34c versus consensus 25c. Sees Q2 revenue $155M-$160M, consensus $167.88M. Shares of ValueClick Inc are trading 25.97% lower today.
Prudential Financial Inc (NYSE:PRU): Prudential reported Q1 EPS $1.56 versus consensus $1.71. Reported Q1 revenue $10.65B versus consensus $10.48B. Reported Book value per Common share excluding total accumulated other comprehensive income of $55.85 at March 31, compared to $58.02 at December 31, 2011. Shares of Prudential Financial Inc are trading 8.5% lower today.
Teradata Corporation (NYSE:TDC): Sees 2012 revenue comparison hurt 1 % by forex. Shares of Teradata Corporation are trading 5.62% higher today.
Active Stocks: Green Mountain Coffee, Whole Foods, Weight Watchers May 3rd
Green Mountain Coffee Roasters Inc. (NASDAQ:GMCR): After Green Mountain lowered its FY12 adjusted EPS guidance, Roth Capital believes that the company continues to generate strong growth. The firm reduced its target on the shares to $70 from $120 but maintains a Buy rating. Shares of Green Mountain Coffee Roasters Inc. are trading 42.35% lower today.
Whole Foods Market, Inc. (NASDAQ:WFM): Susquehanna raised its price target on Whole Foods following strong Q2 results. The firm cited its same store sales growth, unit growth, and margin expansion. Shares are Positive rated Shares of Whole Foods Market, Inc. are trading 6.64% higher today.
Weight Watchers International, Inc. (NYSE:WTW): Wedbush lowered its estimates and price target for Weight Watchers citing slower growth and reduced margins. The firm maintains a Neutral on the stock following the company’s Q1 results. Shares of Weight Watchers International, Inc. are trading 16.13% lower today.
Kensey Nash Corporation (NASDAQ:KNSY): Kensey Nash announced that it has entered into a definitive agreement with Royal DSM (NYSE:DSM), under which DSM has agreed to acquire all of the common stock of Kensey Nash through a cash tender offer, followed by a merger with a subsidiary of DSM, for $38.50 per share in cash. DSM will commence all-cash tender offer in May. Tender Offer expected to be completed by June 30. Kensey Nash’s Board of Directors has unanimously approved the tender offer and resolved to recommend that Kensey Nash stockholders tender their shares to DSM in the tender offer. Shares of Kensey Nash Corporation are trading 32.16% higher today.
Acme Packet, Inc. (NASDAQ:APKT): After Acme Packet reported stronger than expected Q1 results, Pacific Crest thinks that the company’s demand and margin trends appear to have bottomed in Q1. The firm expects the company’s fundamentals to improve and it maintains an Outperform rating on the stock. Shares of Acme Packet, Inc. are trading 0.6% higher today.