There are some picks in this sector that have excellent valuations and strong earnings growth.
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Analysts had high expectations, but a slowdown in iPhone sales hurt the quarter in a big way.
Everyone knows a new iPhone is coming soon, and as a result, people are delaying iPhone purchases until the next version is out. So now Apple (AAPL) finds itself in a new boom-and-bust cycle for its most important product -- and the quarter reported Tuesday definitely fell into the bust side.
Normally, 1 or 2 of the company's top 10 markets might struggle. Now, for the first time, it's seeing trouble across the board.
With its favorable funding mix, improved core business performance, and expansion strategies, the commercial bank should continue to yield profitable earnings in the upcoming quarters.
By Zacks Equity Research
Regions Financial Corporation's (RF) second-quarter 2012 earnings from continuing operations came in at 20 cents per share, outshining the Zacks consensus estimate by 6 cents. Moreover, the results compare favorably with the 14 cents per share reported in the prior quarter.
Quarterly results benefited from improved net interest margin and better credit quality backed by lower loan loss provisions and reduced non-performing assets. Moreover, improved funding mix and decline in non-interest expenses were the positives for the quarter. Yet, lower top-line, aided by reduced non-interest income was a dampener.
The company launches a generous education program to help new employees pick up high-demand skills. But some people question the motive.
This week, visitors to Amazon's (AMZN) homepage were greeted with an open letter from CEO Jeff Bezos seeking employees for the company's storage and distribution warehouses. The main draw is a new education initiative called the Amazon Career Choice Program, which will pay up to $8,000 over four years to equip employees with "high-demand" skills in engineering, information technology, or nursing. Bezos also touted improved safety conditions at Amazon's warehouses, which have been criticized as "sweatshops" after reports that employees at one warehouse were working in 100-plus-degree temperatures and needed medical care.
So, while some praise Bezos' education drive, others see a huge public relations stunt.
Stocks slide as US companies continue to indicate caution with their guidance and Moody's signals worries about more debt fallout in Europe.
The celebration, however, may be short-lived as massive defense spending cuts loom.
Firearm stocks are outperforming the market since the shooting, while movie chains are suffering.
While the rest of the economy struggled to add jobs and grow, employment within the firearms and ammunition industry exploded by 30.6% between 2008 and 2011. The industry's federal tax payments also soared by 66.5% to hit $2.5 billion. That's according to the National Shooting Sports Foundation, which earlier this year released a report highlighting these figures, and a nearly two-year-long string of month-over-month increases in the number of buyers requesting background checks in order to be able to buy new weapons.
It's too bad that one of those background checks was on alleged mass murderer James Holmes, who appears to have acquired the weapons used to kill 12 people and injure dozens more at a Colorado screening of the new Batman movie, "Dark Knight Rises," legally. Now the industry and its investors are holding their collective breath, waiting to see whether the shooting spree will claim their profits among its victims.
MetroPCS is upgraded to 'outperform,' and J.C. Penney is initiated at 2 firms.
Tuesday's noteworthy upgrades include:
A German court decision could prevent European consumers from buying one of Samsung's most popular tablets.
Apple (AAPL) has won a preliminary injunction against primary competitor Samsung in the ongoing battle surrounding iPad copycats.
Apple has continuously claimed that Samsung's Galaxy Tab 7.7 infringes on the design of the iPad, and as ZDNet report, a German court seems to agree. The new ruling does not impact the Galaxy Tab 10.1N, a larger Samsung-developed tablet that another court had previously ruled did not infringe on Apple's designs.
Don't miss out on a potential bull market.
By Sheldon Liber
If you can recall a few short years ago, March 9, 2009 to be exact, the Dow Jones Industrial Average hit rock bottom. I will never forget that day because I had the good fortune to call it on the money -- Nostradamus was a punk! Have we reached bottom?
At the time I received comments regularly about the market falling further and cash being the only safe haven. Then the market reversed itself, and folks who thought it was another false start were left behind. The same opportunity may await investors if they keep their watchful eyes on the IBEX 35, the Spanish stock market index. It has been steadily sinking this year and on Monday recorded its worst two- session intraday decline since 2008, according to Bloomberg. It closed at 6,177.40 at 5:30 p.m. in Madrid. This is about a 29% drop for the year.
There are hundreds that might not even bother to exist, for all this market cares.
First Horizon (FHN) is one of those banks where, for the longest time, you couldn't lose. It was the fastest-growing bank in one of the stable and consistent growth areas in the country: Tennessee. It was the hometown bank that grew nicely.
You figured it gave you a nice dividend and every time it got too cheap you could count on someone -- maybe BB&T (BBT) -- to make a bid, and lightning would strike.
More deals are coming after CNOOC's $15B grab of Canada's Nexen.
By Aaron Levitt
Most investors had never heard of Canadian energy company Nexen (NXY) -- until Monday, when it became the center of the largest overseas takeover from a Chinese company. China's biggest offshore oil and gas explorer, CNOOC (CEO) has agreed to pay $27.50 for each common share of Nexen, or roughly $15.1 billion. That's nearly a 61% premium to the company's closing price on July 20.
China has certainly taken notice of North America's shale oil boom. Earlier this year, Sinopec (SHI) made its first incursion into U.S. shale with a $2.2 billion investment to create a joint venture with Devon Energy (DVN). However, China's latest deal just goes to show how serious the Asian Dragon is about securing these resources.
The iPhone maker is set to report earnings after the closing bell, while the telecommunication giant reports higher second-quarter profit.
Apple (AAPL), the iPhone, iPad and iPod maker, delivers its much-anticipated fiscal third-quarter report after the closing bell Tuesday and analysts are calling for earnings of $10.36 a share on revenue of $37.23 billion. The stock is up more than 45% so far in 2011, but it's pulled back quite a bit since hitting an all-time high of $644 on April 10. TheStreet will be live-blogging Apple's earnings beginning at 3:45 p.m. EDT on Tuesday.
AT&T (T), the telecommunication giant, reported second-quarter profit rose to $3.9 billion, or 66 cents a share from $3.59 billion, or 60 cents a share a year ago. The company also added 320,000 contract customers in the quarter. Analysts expected earnings of 63 cents a share and new net subscribers on contract-based plans of about 200,000 ; that compares with Verizon's gain of 888,000 in the second quarter. Shares of AT&T were up 0.5% in pre-market trading.
The company may disappoint investors because of seasonal factors with the iPhone and supply issues with the iPad.
Fans are waiting for a new iPhone this fall, and shoppers in Europe and China aren't spending as much anymore. Will we see a perfect storm of disappointment Tuesday?
Wall Street is used to the company delivering jaw-dropping numbers, but that may not be the case this time around. People are waiting for a new iPhone, expected around October, so sales of current iPhones have slowed.
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These hot movers could rise by double digits in coming months.
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[BRIEFING.COM] Equity indices closed out the month of August on a modestly higher note. The Russell 2000 (+0.6%) and Nasdaq Composite (+0.5%) finished ahead of the S&P 500 (+0.3%), which extended its August gain to 3.8%. Blue chips lagged with the Dow Jones Industrial Average (+0.1%) spending the bulk of the session in the red.
The final week of August represented one of the quietest stretches for the stock market so far this year. The first four sessions of the week produced the ... More
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