Hot Stock Minute

Tiffany and TiVo Report; JPMorgan Chase and Tyson Fall on Downgrades

Tiffany (TIF) is up more than 2.5% on its earnings. The company released its report this morning saying it made 83-cents a share versus estimates of 74-cents a share. Revenue however missed the mark at $925.9-million when consensus was for $941-million. Tiffany says its profits were helped by unexpectedly strong sales in China where it had feared a slowdown. The company is now increasing its outlook for the rest of the year. This morning's gains push Tiffany to a new 52-week high, with shares up more than 40% this year.

TiVo (TIVO) reports this afternoon. The company is expected to post losses of 10-cents a share for the quarter. That would be an improvement over last year when losses were 23-cents a share. Revenue is likely to increase more than 30% to $71.48-million. TiVo's subscriber base has been growing and is now about 3.4-million accounts. In addition, fewer people have been canceling the service. TiVo's shares have been down more than 12% since the start of 2013.

JPMorgan Chase (JPM) has just gotten downgraded by a long-time analyst. Richard Bove at Rafferty Capital cut the country's biggest bank to hold from buy, citing increased regulation and what he calls a government vendetta. He also lowered JPM's price target to $57 from $60. JPMorgan closed around $51 yesterday, up 16% year-to-date. The stock has rallied 39% over the past year. By the way, in an unrelated note, one of two former JPMorgan traders has just been arrested overseas this morning on charges stemming from the London Whale case.

Tyson Foods (TSN) fell more than 7% yesterday, also on a downgrade. Merrill Lynch cut Tyson to neutral from buy citing an increased supply of chickens, which will hurt margins. Merrill also cut Tyson's price target by a dollar to $32 a share. The stock closed around $29 yesterday, after the drop. It's up 48% year-to-date.

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