4 Super Hot Stocks: JPM Whacks Market, PetSmart Jumps 3%, and RIMM Down Again
JP Morgan (NYSE:JPM) is down nearly 2% in early trading after reporting third quarter results. The bank beat estimates, but earnings still declined 4% from last year. JPM earned $4.26 billion ($1.02 per share), compared to $4.42 billion ($1.01 per share) last year. An accounting change to the bank’s value of liabilities added 29 cents per share to earnings. Other big banks such as Bank of America (NYSE:BAC) and Citigroup (NYSE:C) are also trading lower.
PetSmart (NASDAQ:PETM) is trading more than 3% higher before the opening bell. The company raised its third quarter and full-year guidance on better-than-expected same-store sales growth.
Shares of Fastenal Co. (NASDAQ:FAST) are inactive before the open, despite the company reporting a 29% rise in third quarter earnings. The company sells tools and other industrial supplies. Competitors include MSC Industrial Direct (NYSE:MSM) and W.W. Grainger (NYSE:GWW).
Research in Motion Limited (NASDAQ:RIMM) is falling another 2.5% today as the CrackBerry outage continues. The company has apologized to customers through a released statement and even a youtube (NASDAQ:GOOG) video. However, the company does not know when the BlackBerry outage will be fixed. The outage comes at a perfect time for Apple (NASDAQ:AAPL), which just released its new iPhone 4S.