Hot Stock Minute

CBS & Whole Foods Reporting; Riverbed Sinks on Earnings

CBS (CBS) which reports after the closing bell. We've all been hearing about the company's battles with Time Warner Cable (TWC) over subscription fees to carry CBS programming. This is part of a larger move by the company to lower its dependency on advertising dollars. Along these lines, the company has recently strengthened ties with Netflix (NFLX). Analysts are looking for earnings of 72-cents a share up from 65-cents last year on revenue of $3.51-billion. The stock is up 33% year-to-date and set a new 52-week high about two weeks ago.

Whole Foods Market (WFM) also reports after today's close. Analysts are looking for significant growth over last year with revenues that surpass $3-billion and earnings of 37-cents a share, up a nickel from a year ago. Whole Foods has reported double-digit revenue increases for the past four quarters. 65% of analysts rate it as a buy. The stock is currently up 21% year-to-date. It hit an all-time high back on July 17th.

Cubist Pharmaceuticals (CBST) has been up almost 6% in early trading. The company is buying two smaller drug makers. One of them, Trius (TSRX), has been up as much as 17%. Meanwhile the other, Optimer (OPTR), has been down 8%. Cubist is considered one of the few big players in the U-S when it comes to antibiotics. The acquisitions give it more current offerings and a larger pipeline. Prior to the movement we're seeing on this deal, Cubist was up 32% year-to-date. The stock is also at its highest level since 2001, when it topped $60 a share.

Networking hardware company Riverbed Technology (RVBD) has been down as much as 19% in early trading. Riverbed reported earnings after yesterday's closing bell. Not as bad as you might think. A match on earnings of 22-cents a share, with a slight miss on revenue which came in at $255-million. The problem: guidance for the current quarter was below estimates. Riverbed was down 17% year-to-date even before this morning's drop.

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