Schaeffer's Trading Floor Blog

Buzz Stocks: Apple, Ford, McDonald's, and Citigroup

Today's stocks to watch include AAPL, F, MCD, NWS, VZ, YHOO

by 7/25/2012 9:12 AM
Stocks quoted in this article:

After three triple-digit losses, the Dow and the S&P are trying to shake free of this trend. Nasdaq futures, however, are pointed lower thanks in large part to poorly received earnings from some tech heavyweights. Here are some highlights from today's earnings news and more:

  • Earnings news: Citing iPhone sales that have slowed as consumers await the next model, Apple Inc. (NASDAQ:AAPL - 600.92) reported per-share results of $9.32, falling short of analysts' estimates of $10.36 (Time Business); Netflix, Inc. (NASDAQ:NFLX - 80.39) earnings beat the Street, but investors are focusing on a lower guidance and discouraging subscriber numbers (The Washington Post); Ford Motor Company (NYSE:F - 9.06) announced a 57% drop in second-quarter profit, thanks to slowing overseas sales. Per-share results were slightly higher than estimates (CNN); In one spot of bright news, Caterpillar Inc. (NYSE:CAT - 81.43) earnings solidly trumped analysts' expectations as profit and revenue moved higher (CNBC); PepsiCo, Inc. (NYSE:PEP - 68.79) earnings exceeded the Street's view by three cents per share but net income was off more than 20% from the previous year (Bloomberg).

  • In other potentially bad news for Netflix, Verizon Communications Inc. (NYSE:VZ - 43.77) and Redbox – a division of Coinstar, Inc. (NASDAQ:CSTR - 60.65) – have begun to test their joint video service. The service is expected to launch broadly later this year. (All Things D)

  • Sandy Weill, the former head of Citigroup Inc. (NYSE:C - 25.24), has suggested that banks be split between their investment banking and banking divisions, in order to protect taxpayers. (Bloomberg)

  • McDonald's Corporation (NYSE:MCD - 88.06) is testing a fried chicken-wing menu item in the Atlanta market. Branded Mighty Wings, these are the second attempt by the fast-food giant to add the popular delicacy (?) to their menu. So far, there are no plans to extend this launch beyond the Atlanta region. (The Huffington Post)

  • Yahoo! Inc. (NASDAQ:YHOO - 15.43) board member Daniel Loeb has bought 2.5 million additional shares in the Internet company, spending roughly $39.5 million. YHOO was already the largest holding in Loeb's hedge fund. (CNBC)
  • Modern Family has grown to become television's most-watched sitcom, so it's no wonder cast members are getting greedy. Sofia Vergara, Ty Burrell, and others are suing Twentieth Century Fox – part of News Corp (NASDAQ:NWS - 21.94) – in hopes of voiding their contracts ahead of the next season, which will be the show's fourth. (Bloomberg)
  • Finally, New York City Mayor Michael Bloomberg noted that the Big Apple collected $259 million in economic benefits during the first year that gay marriage was legal. Roughly 8,200 licenses were issued for gay couples, representing more than 10% of all licenses. (Bloomberg)

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