Regal Entertainment Group (NYSE:RGC) was upgraded from Hold to Buy at Stifel Nicolaus today. The stock closed yesterday at $13.70 on volume of 3.8 million shares, above average daily volume of 1.8 million.Regal Entertainment Group (NYSE:RGC) has potential upside of 12.3% based on a current price of $13.70 and analysts’ consensus price target of $15.38. The stock should find initial support at its 50-day moving average (MA) of $13.57 and further support at its 200-day MA of $13.06.
CNN Money reports that AMAZON will be adding a new side to their multi-faceted business. Leveraging their dominant exposure, Amazon is set to start producing network tv quality television shows, with professional budgets. They aim to bring streaming original comedy and children’s content to their audience, all original material. Amazon plans to solicit original scripts in these two genres, and if one is optioned, the creater gets $10,000, if it is made into a series, the creator gets $55,000 and up to 5% residuals. While most companies would be discouraged from branching out into this new media territory, Amazon should be just fine, leveraging, among other assets, Joe Lewis, a long time Hollywood name, who brings his years of experience from Comedy Central, 20th Century Fox, and a cloud based tv station called, BARK Industries. That’s all for now, but for more updates, keep it right here, to the financial news network online.
World Fuel Services (NYSE:INT) was downgraded from Buy to Neutral at SunTrust today. The stock closed yesterday at $43.70 on volume of 733,000 shares, above average daily volume of 531,000.Potential upside of 22.4% exists for World Fuel Services, based on a current level of $43.70 and analysts’ average consensus price target of $53.50. The stock should discover initial support at its 50-day moving average (MA) of $42.46 and subsequent support at its 200-day MA of $40.29.
Flextronics (FLEX) was upgraded today by Bank of America/Merrill Lynch (BAC) as the company has been seeing higher profit margins. A $7.50 price target was set.
5-1-12-Pfizer (NYSE:PFE) reported Q1 EPS of $0.58, ex-items, topping estimates of $0.56.Revenues in the quarter came in at $15.4 billion, vs. estimates of $15.469 billion.The company sees FY $58 billion – $60 billion, vs. estimates of $62.14 billion.The company sees FY EPS of $2.14 -$2.24, vs. estimates of $2.26.
In trading on Wednesday, apparel stores shares were relative leaders, up on the day by about 1.9%. Leading the group were shares of Charming Shoppes (CHRS), up about 23.6% and shares of Ascena Retail Group (ASNA) up about 12.8% on the day.
Comcast (CMCSA) announced that it earned $1.224 billion, or 45 cents per share in its most recent fiscal quarter, versus $943 million, or 34 cents per share, in the same period last year. Analysts had expected earnings of 42 cents per share.
Published on Tue, 05/01/2012 – 08:53 By FNNO Staff in News corner, axp, GRPN, SBUX, american express, board, groupon, grpn, starbucks 5-1-12-Shares of Groupon (NASDAQ:GRPN) shares sold off in the last hour of trading Monday on news that Starbucks (NASDAQ:SBUX) Chairman and CEO Howard Schultz and Accel Partners’ Kevin Efrusy were stepping down from Groupon’s board.The members will be replaced by Daniel Henry, CFO of American Express (NYSE:AXP), and Deloitte Vice Chairman Robert Bass.The shakeup comes as Groupon looks to shore up investor confidence following its Q4 restatement which was a nightmare for the company’s stock.The departures were voluntary, however, AllThingsD reported that several sources noted that Schultz almost left the board right before Groupon’s public offering last fall, following several ongoing disputes with its management, but opted to stay on so as to not cause any issues with the IPO.Groupon’s stock rose to over $31 on November 4th of 2011, but has come off considerably since it’s IPO and is trading at $10.72 this morning, about flat on the day after falling over 10% yesterday.
Europe’s finance ministers are trying to strike a deal that will force banks to set aside more cash to prevent another crisis.
5-1-12-Ford (NYSE:F) reported its April sales in the US fell 5% to 180,350 vehicles, the company said Tuesday.Cars fell 11.2% to 64,789 and specifically by segment; Fusion sales rose 2% to 21,610, Focus sales rose 12.5% to 19,425, Mustang sales fell 4.6% to 7,801.Meanwhile Utilities fell 1% to 50,724: Escape sales fell 20% to 16,986, Explorer sales rose 6.6% to 13,419, and Edge sales rose 12.4% to 10,520.SmarTrend alerted subscribers to take profits in Ford Motor on April 20, 2012 at $11.55, since then the stock fell 2.4%. We are now watching for any positive developments that could result in a new uptrend signal.
