Hot Stock Minute

3M, GM, Pulte Report; Facebook Goes from Licking to Liking; New Jobless Claims

GM, 3M and more companies are just out with earnings. Let's start with the country's biggest automaker. GM (GM) beat estimates posting profits of 84-cents a share excluding items. Expectations had been for 75-cents. Revenue also raced past the consensus at more than $39-billion. The stock is now up 2%.

On to 3M (MMM), we've got a less impressive beat there: earnings of $1.71 a share, beating estimates by a penny on revenue that was razor thin above expectations. Consumer giant Colgate-Palmolive (CL) has matched estimates with earnings of 70-cents a share excluding items. But PulteGroup (PHM) had a big miss: earnings of 9-cents a share after a 17-cent charge. Estimates had been for 30-cents a share. Revenue was also below estimates so that stock is now down 8%.

Facebook (FB) could now be called a social climber. Shares have been up more than 23% since the company reported earnings after yesterday's closing bell. That put them above $30 for the first time since January. Here's why: The company reported adjusted earnings of 19-cents a share a nickel better than expectations. Revenue was also higher than expected at $1.81 billion. Some other fast facts for you: mobile ads made up 41% of the total ad revenue. That's up from 30% in the prior quarter. In addition, the company says it has surpassed 1,000,000 active advertisers. Does this mean the company has turned a corner, and could even bolt above its IPO price. Yahoo! Finance Senior Columnist Mike Santoli has more in the video above.

Now breaking news: key economic data released at 8:30, right as we began streaming live to your computer. The Labor Department says there were 343,000 new jobless claims filed last week basically in line with expectations had been for about 342,000 claims. Last week's number was the lowest in more than two months at 334,000. Also just out, The Commerce Department says durable goods rose 4.2% in June. Expectations were for a rise of about 1.15%. They climbed 3.6% in May.

Insider trading charges are expected to be announced today against SAC Capital. This is of course the hedge fund started by Steven A Cohen. Word is, the firm will be indicted, as opposed to Cohen himself. The SEC has brought a separate case against Cohen in which he could be barred from managing other people's money.


Amazon reports after the closing bell. Amazon (AMZN) is expected to post earnings of 5-cents a share, up from a penny a year ago. As for revenue, consensus is that it will rise 23% to roughly $15.57 billion. Analysts say Amazon has been improving its margins. However the company has been shelling out stacks of cash particularly as it builds a library for its streaming video service. Amazon hit an all-time high just last week, topping $309 a share. It's currently up 16% year-to-date.

Also reporting after the bell is Starbucks (SBUX). The coffee giant is expected to show significant growth over the past year with profits soaring almost 25% to 53-cents a share on revenue of $3.72 billion. Analysts credit Starbucks with maintaining a strong pipeline of products that helps to drive same-store sales. Part of this strategy includes the announcement this week that Starbucks is teaming with Danone to sell Greek yogurt at its coffeehouses. Starbucks stock is up 32% over the past year and set a multi-year high last week, just pennies below $70. By the way, regional competitor Dunkin Donuts (DNKN) is out with its quarterly results this morning. The chain beat on earnings by a penny, but missed slightly on revenue which was $182.5 million, a 6% rise form last year.

Chinese internet company Baidu (BIDU) has been up as much as 17% since yesterday's close. Baidu reported earnings after the closing bell, posting profits of $1.26 a share, a nickel better than expectations. Revenue was also above consensus at $1.23 billion. The company says it added a record number of online customers for the quarter. It's also reporting success pushing into mobile, so it has upped the outlook for the current quarter. Shares of Baidu have recently been on a tear up 24% this month, even before this morning's gains.

Crocs (CROX) has lost its footing, down 23% in the premarket. The company says it got tripped up in the past quarter reporting earnings of 48-cents a share excluding items when expectations were for 64-cents. Revenue was almost in line with the forecast at $364-million. Crocs is blaming cold weather for the quarter saying it was forced to offer many unplanned discounts. Moving forward, the company is also lowering its outlook. Crocs has been trying to expand beyond its plastic footwear into wedges, sandals and golf shoes. Shares were up about 22% over the past year, but the plunge we're seeing this morning would all but erase those gains.

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