What’s Moving These Shares March 22nd?
The Dow Jones (NYSE:DIA) is ticking lower slightly to 12,017, the S&P 500 (NYSE:SPY) is down to 1294 and the Nasdaq (NASDAQ:QQQQ) is edging lower at 2,683 on the 55th trading day of 2011, and here is a group of stocks making moves on our radar and the reasons why:
1) Walgreen Company (NYSE:WAG): Shares are down 6.9% to $39.08 per share today. Over 27 million shares have traded hands. The company stated net income jumped to $739 million, or $.80 cents per share, in the quarter relative to earnings of $669 million, or $.68 cents per share, in the previous year’s quarter. Revenue climbed 9% to $18.5 billion. The consensus among analysts expected a profit of $.80 cents per share on revenue of $18.39 billion. Sales and prescription sales at stores open more than a year increased about 4%. Gross profit margin fell below expectations, a catalyst for today’s stock selloff. Walgreen Company operates retail drugstores that offer a wide variety of prescription and non-prescription drugs as well as general goods. See: Retailer Roundup: Your Cheat Sheet to the Winning and Losing Stocks>>
2) Netflix (NASDAQ:NFLX): Shares are up 3.7% to $220.69 per share today. Over 5 million shares have traded hands today. Credit Suisse (NYSE:CS) upgraded the company’s stock on the future potential expansion potential abroad, a huge untapped market for Netflix. Netflix Inc. is an online movie rental service. The Company ships DVDs with no due dates or late fees, directly to the subscriber’s address. Netflix also provides background information on DVD releases, including critic reviews, member reviews and ratings, and personalized movie recommendations.
3) Carnival Corporation (NYSE:CCL): Shares are down 5.19% to $38.91 per share today. Over 8 million shares have traded hands today. Carnival reported net income of $152 million, or $.19 cents per share, down from $175 million, or $.22 cents per share, a year ago. Revenue increased 8% to $3.42 billion from $3.18 billion on consumers will to pay more for ticket prices and on merchandise aboard the ship. Analysts expected revenue of $3.28 billion, thus a beat for Carnival on the top-line. Carnival Corporation owns and operates cruise ships offering cruises to all major vacation destinations including North America, the United Kingdom, Germany, Southern Europe, South America and Asia/Pacific. The Company, through a subsidiary also owns and operates hotels and lodges.
4) Adobe Systems (NASDAQ:ADBE): Shares are up over 1% to $32.71 per share. Over 5 million shares have traded hands today. Adobe is announcing last quarter’s earnings after-the-bell today. Analysts are expecting $.57 earnings per share today on $1.03 billion in revenue. Adobe Systems Incorporated develops, markets, and supports computer software products and technologies. The Company’s products allow users to express and use information across all print and electronic media. Adobe offers a line of application software products, type products, and content for creating, distributing, and managing information.
5) Dollar General (NYSE:DG): Shares are up 1.81% to $30.93 per share today. Over 3.5 million shares have traded hands today. The company’s net income popped to $222.5 million, or $.64 cents per share, from $87.2 million, or $.26 cents per share, last year. The consensus among analysts expected net income of $.59 cents per share. Revenue increased 9% to $3.49 billion from $3.19 billion, beating expected revenue of $3.52 billion. Dollar General Corp. operates a chain of discount retail stores located primarily in the southern, southwestern, midwestern and eastern United States. The Company offer a broad selection of merchandise, including consumable products such as food, paper and cleaning products, health and beauty products and pet supplies, and non-consumable products such as seasonal merchandise. See: Retailer Roundup: Your Cheat Sheet to the Winning and Losing Stocks>>
6) Bristol Myers Squibb Co. (NYSE:BMY): Shares are up 1.38% to $26.38 per share today. Over 14.5 million shares have traded hands. Analysts boosted their sales expectations for a drug, known as ipilimumab, that improved survival times among melanoma (skin cancer) trials. Bristol-Myers Squibb Company is a global biopharmaceutical company that discovers, develops, manufactures and sells pharmaceutical and nutritional products. The Company’s products and experimental therapies address cancer, heart disease, HIV/AIDS, diabetes, rheumatoid arthritis, hepatitis, organ transplant rejection and psychiatric disorders.
7) Discover Financial Services (NYSE:DFS): Shares are choppy and down .4% to $22.55 per share. Over 5 million shares have traded hands today. The company releases its quarterly earnings report after-the-bell today. Analysts are estimating $.51 earnings per share on revenue of $1.63 billion. Discover Financial Services is a credit card issuer and electronic payment services company. The Company issues credit cards and offers student and personal loans, as well as savings products such as certificates of deposit and money market accounts and operates an automated teller machine(ATM)/debit network, which includes ATMs, as well as POS terminals nationwide.
8) St. Jude Medical, Inc (NYSE:STJ): Shares are surging 6% to $51.34 per share today. Over 8.5 million shares have traded hands. The company received praise from J.P. Morgan (NYSE:JPM) analyst on their new product Quadra, quoted as “the most important new product” in implantable defibrillators in the last nine years. St. Jude Medical, Inc. develops, manufactures, and distributes medical devices for the worldwide cardiovascular market. The Company serves patients and its health care customers with products and services including heart valves, cardiac rhythm management systems, specialty catheters, and other cardiovascular devices.
9) Molycorp, Inc. (NYSE:MCP): Shares are rocketing 14% to $50.92 per share today. Over 9.5 million shares have traded hands. The CEO announced the company’s revenues are in fact rising, a reassurance to Wall Street this stock is not just a fad, but a proven money maker. Molycorp, Inc. produces rare earth minerals. The Company produces rare earth products, including oxides, metals, alloys and magnets for a variety of applications including clean energy technologies, technology, and defense applications.
10) Express, Inc. (NYSE:EXPR): Shares are up 6.7% to $18.57 per share today. Over 2 million shares have traded hands. The company earned $48.4 million, or $.55 cents a share, relative to the quarter before when it earned $46 million, or $.60 cents a share. Analysts expected $.49 cents per share, a beat for Express. Revenue increased 14% to $621.5 million, surpassing the $590 million among analyst consensus. Gross margins expanded to 36.5% from 34%. Express, Inc. operates specialty retail apparel stores throughout the United States that target women and men between 20 and 30 years old. The Company offers apparel and accessories to address fashion needs across multiple aspects of their lifestyles including work, casual and going-out occasions. Express operates stores throughout the United States and retails online.