Stocks to watch: Ford, GM, Apollo
General Motors and Ford prepare to release sales figures for June. Apollo's quarterly results beat forecasts, while Darden's miss estimates.
By Joseph Woelfel, TheStreet
Shares of these companies might have price swings in regular trading Tuesday.
General Motors (GM) and Ford (F) are expected to report car sales for June. Ford shares were gaining 0.8% to $13.90. A Ford sales analyst said sales rose in June from a year earlier, without being more specific, Bloomberg reported. Auto sales are forecast to rise 2% from May and 8% from a year earlier, according to Reuters.
Research In Motion (RIMM) defended itself against an "open letter" from what's believed to be a senior manager who voiced frustrations about product delays and called for a sweeping reorganization. The BlackBerry maker also was part of a consortium that posted the winning $4.5 billion bid for Nortel's remaining patent portfolio. RIM shares were up 0.2% to $28.92 in premarket trading.
Education provider Apollo Group (APOL) reported fiscal-third-quarter earnings from continuing operations of $203.5 million, or $1.45 a share, on revenue of $1.24 billion. Analysts polled by Thomson Reuters expected Apollo to earn of $1.33 a share on revenue of $1.19 billion. Apollo shares were gaining 1.4% at $44.30 in early trading.
Darden Restaurants (DRI), the operator of the Olive Garden and Red Lobster restaurants, said its fiscal-fourth-quarter profit rose 19% to $137.4 million, or 99 cents a share, from year-earlier earnings of $115.6 million, or 80 cents. Still, the profit was 1 cent less than the $1 per-share profit analysts had forecast. Darden shares were down 0.6% to $49.44.
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[BRIEFING.COM] The major averages hover just below their highs with one hour remaining in the final session of the week.
Tomorrow, most global markets, including the U.S., will be closed for Good Friday, while Japan's Nikkei and China's Shanghai Composite will remain open. On Monday, the New York Stock Exchange will open at its regular time, while markets across Europe and Hong Kong's Hang Seng will remain closed for Easter Monday. Nasdaq +17.71 at 4103.94... NYSE Adv/Dec ... More
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