Hot Stock Minute

Sponsored by
Hot Stock Minute

Stocks Try to End 5-Day Losing Streak; GDP and Jobless Claims; Twitter Teams with NFL

Hot Stock Minute

Wall Street is trying to break a week-long losing streak. Futures have been up this morning, in what has been a rare appearance of the green. Yesterday the Dow shed 61 points, and the S&P retreated further from 1,700. Two things that could move markets today are a new estimate of GDP which came in at an annual rate of 2.5% shy of expectations and weekly jobless claims which were significantly below estimates of 330,000 at 305,000. Yahoo Finance Senior Columnist Mike Santoli has more in the video above.

It's proving to be a real "fine" time for JPMorgan (JPM). There are several reports this morning that the bank could be forced to pay $11-billion to settle cases with the Feds. That's up from a figure of $7-billion being floated just yesterday. JPM faces a number of criminal and civil cases stemming from problematic mortgage-backed securities. The stock is up nearly a percent in the premarket, following an advance of nearly 3% yesterday. However, it's still down 3.5% over the past week in the wake of the London Whale settlement. Right now, shares are up 16% so far in 2013.

You'll no longer be able to pick a BlackBerry (BBRY) at T-Mobile. The cell carrier says it's pulling the devices from shelves. It's the latest indication that the Q10 and Z10 phones have gotten crushed by Apple (AAPL) and Android offerings. And the company itself seems to be shriveling too, even as it moves towards a buyout. Shares are up slightly at this hour, but fell more than 6% yesterday. That brings their 5-day performance to a loss of 22%, and year-to-date the stock is now down 32%.

Twitter has teamed-up with the NFL. Soon the social media service will feature game highlights, and other content from the league. The announcement comes as Twitter readies for an IPO. In fact, it has just added JP Morgan and Morgan Stanley (MS) to the banks that will help with the offering.

STOCKS TO WATCH

J.C. Penney (JCP) has been down as much as 12% this morning, following a 15% plunge yesterday. Reuters is reporting that Penney wants to raise as much as $1-billion in new equity. The goal here: to build up cash reserves ahead of the holiday season. Yesterday's drop in the stock brought shares prices to their lowest level in 13 years. Even before this morning's drop, shares were down 49% year-to-date.

Bed, Bath & Beyond (BBBY) has been up as much as 6.5% since reporting earnings after yesterday's closing bell. The company nudged past estimates on both the top and bottom lines making $1.16 a share on $2.82-billion in revenues. The numbers represent an 11% increase in profits over last year, and same-store sales were up nearly 4%. Prior to the report, the stock was up 32% year-to-date.

Nike (NKE) reports after the closing bell, in what could be called the new "kick-off" to earnings season. The company is expected to post profits of 78-cents a share up from 64-cents last year on revenue just shy of $7-billion. At this point, the stock is up 33% year-to-date, and 44% in the last 52-weeks, leading some to question whether the stock has had too much of a run-up. Analyst Brian Yarbrough at Edward Jones tells the Wall Street Journal he'll be watching for a slowdown in North America or a failure to resume modest growth in China.

Caesars (CZR) has been down more than 6% since yesterday's close, following a drop of more than 7% during the regular session. Caesars has announced a secondary offering of 10-million shares, diluting what's already on the market. This, coming from a company that's been reporting quarterly losses, plus a drop in traffic at its casinos. As of yesterday's close, Caesar's stock has been up 182% year-to-date.

Rates

View Comments

Recommended for You

  • LeBron James says he's returning to Cavaliers

    CLEVELAND (AP) — LeBron James is returning home to Ohio, reversing the decision he made four years ago that led to two NBA titles in Miami and crushed Cleveland Cavalier fans.

    Associated Press
  • Dubai airport soars in rankings of world's busiest

    DUBAI, United Arab Emirates (AP) — Now that he's had a taste of running the world's busiest air hub for international passengers, Dubai Airports CEO Paul Griffiths is determined to hang on to the honor while setting his sights on an even bigger prize: beating Atlanta for the title of busiest…

    Associated Press
  • India building world's highest railway bridge

    Indian engineers are toiling in the Himalayas to build the world's highest railway bridge which is expected to be 35 metres taller than the Eiffel Tower when completed by 2016. The arch-shaped steel structure is being constructed over the Chenab River to link sections of the spectacular mountainous…

    AFP
  • Inventor pushes solar panels for roads, highways

    SPOKANE, Wash. (AP) — The solar panels that Idaho inventor Scott Brusaw has built aren't meant for rooftops. They are meant for roads, driveways, parking lots, bike trails and, eventually, highways.

    Associated Press
  • Play

    Finding Value in Small Stocks, Dividend Payers

    Financial Advisor Teresa Jacobsen likes some beaten-down small company shares, while dividend-paying stocks are helping her find income in a low-rate environment.

    WSJ Live
  • Business Insider
  • California man sentenced to 15 years for espionage

    OAKLAND, Calif. (AP) — A federal judge has sentenced a California chemical engineer to 15 years in prison and fined him $28.3 million for a rare economic-espionage conviction for selling China a secret recipe to a widely used white pigment.

    Associated Press
  • 22 stocks that may be the gems of earnings season

    Goldman Sachs analysts pick 22 stocks that they think will outperform this earnings season.

    MarketWatch
  • Apple: Morgan Stanley Names it a Top 12-Month Pick, Displacing Google

    The gang at Morgan Stanley today named Apple (AAPL) among 15 stocks to own for the "next 12 months," branded "Vintage Values," based on greater than $1 billion in market cap and a likelihood ...

    Barrons.com
  • Newmont Mining gearing up for a big breakout

    After bouncing around for more than seven months, shares of Newmont Mining appear to be gearing up for a bullish breakout that could take the stock up nearly 20% over the next six months. A rise above ...

    MarketWatch
  • Indians balk at $33 million statue in new budget

    NEW DELHI (AP) — In a country grappling with poverty, sluggish growth and a daunting deficit, India's new budget has set aside 2 billion rupees ($33 million) for a colossal iron-and-bronze statue almost twice the size of the Statue of Liberty.

    Associated Press
  • UAW: 'Consensus' reached with Volkswagen on union

    NASHVILLE, Tenn. (AP) — United Auto Workers leaders said Thursday they have reached a "consensus" with Volkswagen and expect the German automaker to recognize the union if they sign up enough workers at a new local for the company's assembly plant in Tennessee.

    Associated Press
  • Play

    Bank of America Seeks 5-Cent Dividend

    Bank of America is asking regulators to reapprove a five-cent-a-share quarterly dividend, a test of its ability to please investors and appease the Federal Reserve at the same time. Christina Rexrode joins MoneyBeat.

    WSJ Live
  • Why Putin's Raid on $88 Billion Wealth Fund Won’t Cure What Ails Russia

    President Vladimir Putin's government is blowing a hole in Russia's finances by unsealing one of its rainy-day funds, all for a growth spurt that will fizzle out, according to the Finance Ministry's debt chief. By tapping into the $88 billion stockpile to finance infrastructure, Russia is eroding…

    Bloomberg
  • 3 reasons to ignore all these 'correction' calls

    Stocks set record highs last week and just days later after some rough waters here come the Pundits of Doom. Here's why you should ignore them.

    Yahoo Finance
  • 'Real Housewives' Star Sentenced to 8 Years in Prison for Fraud

    The 'Real Housewives' celebrity pleaded guilty to bank, mail and wire fraud, as well as identity theft. He said his wife was not involved.

    Credit.com
  • Stigmatized nuclear workers quit Japan utility

    TOKYO (AP) — Stigma, pay cuts, and risk of radiation exposure are among the reasons why 3,000 employees have left the utility at the center of Japan's 2011 nuclear disaster. Now there's an additional factor: better paying jobs in the feel good solar energy industry.

    Associated Press
  • House votes to make business tax break permanent

    WASHINGTON (AP) — The House voted Friday to make permanent a temporary tax break that makes it easier for businesses to invest in new equipment, one of many expired tax breaks that Congress must deal with by the end of the year.

    Associated Press
  • Airbus to launch rebranded A330-800/900neo: sources

    By Tim Hepher LONDON (Reuters) - European planemaker Airbus will both revamp and rebrand its A330 passenger jet at a launch expected to kick off next week's Farnborough Airshow, people familiar with the matter said on Friday. The A330-800neo and A330-900neo will be upgraded versions of the A330-200…

    Reuters
  • GM hires Infiniti chief to runs its Cadillac brand

    TOKYO/DETROIT (Reuters) - General Motors Co said on Friday it has hired Johan de Nysschen, chief of Nissan Motor Co's Infiniti premium brand, to run its Cadillac division. He joins the U.S. automaker on Sept. 1 as president of the luxury brand and executive vice president at GM, after two years at…

    Reuters