Netflix (NASDAQ:NFLX) shares are giving back some of their recent gains after a negative note from Caris’ David Miller. The analyst said he thinks Netflix will provide an outlook that shows operating losses for at least the next 2 quarters during it’s quarterly report Wednesday. Miller went onto say that he remains concerned about the possibility of higher licensing payments from EPIX.
WebMD (NASDAQ:WBMD) shares are catching a bid premarket on news that it held discussions with various PE firms regarding a potential buyout, but those talks were reportedly terminated without any proposal.A special committee ended the process with the suitors in August.The company has provided info after inquiries from Carl Icahn and other investors.Shares of the company have fallen 52% in the past 12 months, but are trading 2% higher premarket on the news.
Scott Kirby, the President of US Airways (NYSE:LCC) is leading the company’s analysis of potential merger with bankrupt AMR Corp., though any bid may still be close to a year away, reported Bloomberg, citing sources familiar with the matter. US Airways Group (NYSE:LCC) has potential upside of 57.1% based on a current price of $6.48 and an average consensus analyst price target of $10.18. US Airways Group is currently below its 200-day moving average (MA) of $6.68 and should find support at its 50-day MA of $5.24.
Freeport-McMoran (NYSE:FCX) reported Q4 EPS of $0.67, which includes a $0.05 charge for labor costs. Consensus estimates were for EPS of $0.61.The company reported Q4 revenues of $4.16 billion, vs. consensus estimates of $3.74 billion.The company lowered its 2012 copper sales target to 3.8b lbs vs. 11/17 forecast of 3.9b lbs.Freeport forecasts gold production of 1.2m oz. vs. its prior 1.1m.
Annoying bank fees will be on the rise, as banks start to increase their overdraft fees. An economic research firm, Moebs Services, estimated the median overdraft fees of banks rising from $27.50 to a new high of $30, making it the largest jump within the past 30 years. Banks had made large profits from high overdraft fees in the past, adding up to an incredible $37.1 billion in 2009. However, since new regulations have been put into place on overdraft fees in 2010, banks have reportedly lost money. Before the regulations, banks could automatically enroll their customers in overdraft protection services which automatically credited a negative account a cash advance, which the customer unknowingly had to pay back. The new regulations forced banks to give their customers the option of enrolling in an overdraft protection plan as opposed to automatically enrolling them. This has caused the banks’ profits to lower, and as a result, banks are increasing their fees in order to make up for lost profit.
The Wall Street Journal reports that Johnson & Johnson’s (NYSE:JNJ) Janssen Pharmaceuticals will pay $158 million to resolve claims related to the sales and marketing of its Risperdal antipsychotic drug.The settlement resolves a case brought by the state of Texas in 2004.Johnson & Johnson (NYSE:JNJ) has potential upside of 9.1% based on a current price of $64.98 and an average consensus analyst price target of $70.91.
General Motors (NYSE:GM) reported that its global sales totaled more than 9M vehicles in 2011, a 7.6% gain compared with 2010. GM gained four-tenths of a point of market share to 11.9% of the global vehicle industry, the company said.Sales were up in all four reporting regions of North America, South America, Europe and International Operations. Chevrolet sold 4.76 million vehicles around the world in 2011, setting a global sales record.General Motors (NYSE:GM) has potential upside of 35.6% based on a current price of $24.65 and an average consensus analyst price target of $33.43.
Google (NASDAQ:GOOG) is expected to report Q4 earnings after the market close today with a conference call scheduled for 4:30 pm ET.According to First Call, the consensus estimates is $10.49 for EPS and $8.40 billion for revenue. Google has demonstrated dominant search market share as well as strong in ad revenue.Additionally, investors will look for signs of continued strength in its new social network Google+, the latest news on its pending $12.5B acquisition of Motorola Mobility (NYSE:MMI) and progress related to the Android platform. Updates on Google Wallet and Google TV will be closely followed. The company added nearly 2,600 new employees in Q3 — so headcount will be another key metric watched.Google (NASDAQ:GOOG) has potential upside of 14.9% based on a current price of $635.43 and an average consensus analyst price target of $730.3.
The number of individuals seeking unemployment benefits fell last week to 352,000, the fewest since April 2008. The declining numbers added to evidence that the job market is strengthening.According to the Labor Department, applications fell 50,000, the biggest drop in the seasonally adjusted figure in more than six years.A department spokesman cautioned that volatility at this time of year is common. Applications had jumped two weeks ago, largely because companies laid off thousands of temporary workers hired for the holidays.
General Electric (NYSE:GE) is expected to report Q4 earnings on Friday, January 20th before the market open with a conference call scheduled for 8:30 am ET.According to First Call, analysts are looking for EPS of $0.38 on revenue of $40.03 billion. The consensus range is $0.37-$0.39 for EPS, and $38.29 billion-$41.54B for revenue, according to First Call.In the third quarter, GE’s EPS narrowly beat revenue estimates.General Electric (NYSE:GE) has potential upside of 8.9% based on a current price of $19.15 and an average consensus analyst price target of $20.85.
