Schaeffer's Trading Floor Blog

Buzz Stocks: Caterpillar, BP, Macy's, and Microsoft

Today's stocks to watch in the news include CAT, BP, M, and MSFT

by 10/22/2012 8:58 AM
Stocks quoted in this article:

U.S. stocks are indicated slightly higher this morning on overseas hopes that Spain will soon see an answer to its bailout hopes. Back at home, economic news is light but earnings will continue to roll in at an impressive pace. Against this backdrop, here are some stocks in the news today:

  • Earnings news: Caterpillar Inc. (NYSE:CAT) announced earnings per share of $2.54 (excluding items), on $16.45 billion in revenue. These results were mixed versus analysts' respective estimates for per-share earnings of $2.22 per share and $16.79 billion in sales. Looking ahead, CAT reduced its guidance for the full year to $9 from $9.25 per share (CNBC); Hasbro, Inc. (NASDAQ:HAS) posted a modest 3.6% drop in third-quarter earnings to $1.24 per share, or $1.28 excluding items. Analysts were expecting results of $1.20 per share. Revenue inched slightly lower to $1.35 billion, falling just short of the consensus estimate. (MarketWatch)

  • BP plc (ADR) (NYSE:BP) will sell its 50% stake in TNK-BP to Russian oil concern Rosneft. In exchange, BP will receive $17.1 billion in cash and a 12.84% stake in Rosneft. (The Associated Press)

  • In other merger-Monday news, Ancestry.com Inc (NASDAQ:ACOM) has signed a deal to take itself private for $32 per share, a 10% premium to the stock's Friday close. European private equity firm Permira is leading the $1.6 billion deal. (CNBC)

  • In an attempt to attract younger consumers, Macy's, Inc. (NYSE:M) is debuting 13 new brands and bolstering 10 existing labels. New fashion offerings will hit the shelves this fall and next spring and include the Fatal Clothing line, which features "tattoo-influenced" tee-shirt designs. (The Wall Street Journal)

  • Windows 8 has its official launch on Friday, but early speculation has concluded few corporations will be early adopters of the Microsoft Corporation's (NASDAQ:MSFT) operating system. In fact, many companies have yet to shift to Windows 7 from Windows XP. (CNBC)

  • Finally, all you children of the 80s -- music video pioneer (and former Genesis frontman) Peter Gabriel is asking his Facebook fans to re-create all or some of his groundbreaking 1986 video, "Sledgehammer." Sign up for the "Grab Your Sledgehammer" contest here and you can win a signed Peter Gabriel print plus a wireless boom box (plus bragging rights). (Mashable)


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