Breaking news: Jos. A Bank (JOSB) has a suitor. It's Men's Warehouse (MW) which is now trying on a buyout offer for size. The takeover attempt is in fact a role reversal. Jos. A Bank recently bid for Men's Wearhouse. Hot Stock Minute host Lauren Lyster discusses the proposal with Yahoo Finance Senior Columnist Mike Santoli in the video above.
Tiffany (TIF) is dazzling as we head into the holiday season. The luxury jeweler is up more than 6% in the premarket thanks to a rock-solid earnings beat. Here are the numbers: adjusted earnings of 73-cents a share when expectations where for 58-cents. Sales were also more than $20-million above estimates at $911.48-million.
We're also learning earnings from a number of other companies this morning. Hormel (HRL) had a solid beat with earnings of 58-cents a share when expectations were for 54-cents. Revenues also topped expectations. Restaurant and retail chain Cracker Barrel (CBRL) also beat for quarter with earnings of $1.14 a share, a penny better than predictions. And Chico's (CHS) missed by 2-cents on earnings. Sales also missed the forecast. The stock has been down more than 5% in early trading.
Bayer is in talks to acquire one of its partner companies. The German giant is offering up more than $2.4-billion dollars for Norway's Algeta. Together the companies market a prostate cancer drug. It was approved for sale here in the U.S. back in May.
There's some Intel on Intel (INTC) coming from Bloomberg. The chipmaker is reportedly looking to unload its internet TV service called "On Cue." Never heard of it? That's because it hasn't launched yet. Bloomberg says Intel wants $500-million for the business. Intel stock is up 11% year-to-date.
STOCKS TO WATCH
Hewlett-Packard (HPQ) reports later today. HP is expected to post earnings of a $1.00 a share. That would be down from $1.16 a year ago. Analysts are predicting the computer and printer maker to report revenue of $27.91-billion, down about 7% from a year ago. Even in a slumping PC market, HP's stock is up over 68% this year.
TiVo (TIVO) will also report after the bell. The company is expected to post earnings of 6-cents per share, which would be a huge drop from the 44-cents it posted a year ago. On a positive note, revenue is expected to be up 1/3, to over $81-million. The DVR technology company saw a big bump in profits when it won settlements against Google and Cisco back in June. Investors will be very interested to see how TiVo can make money outside of the courtroom. TiVo's stock has been on a bit of a roller-coaster for the year, but is up close to 4% year-to-date.
Palo Alto Networks (PANW) is up 8.5% following its report yesterday. The company posted earnings of 8-cents a share beating estimates of 7-cents. Revenue also grew 49% from last year to $128-million. So, what exactly is behind the beat? The network security provider has seen a steady growth in its subscription service recently. Still, shares for the year are still down just over 10%.
Workday (WDAY), which we highlighted yesterday ahead of its earnings, has been up 10% in the premarket. The company posted a loss of 12-cents a share which beat estimates for a loss of 17-cents. It also posted revenues of $127.9-million up from an estimate of $117.8-million. The cloud application company has had a pretty good year so far seeing its stock up 38% year-to-date.