Schaeffer's Trading Floor Blog

Buzz Stocks: Cisco Systems, Toyota, Intel, and Wal-Mart

Among today's stocks in the news to watch: CSCO, TM, INTC, WMT, and AMD

by 11/14/2012 8:42 AM
Stocks quoted in this article:

U.S. stock futures are indicated moderately higher this morning as investors take comfort in a positive earnings surprise from a blue-chip tech name. Meanwhile, AMD is dispelling rumors, and the world's largest retailer is experimenting with a new kind of service. Here are stocks to watch in the news today:

  • Earnings news: Cisco Systems, Inc. (NASDAQ:CSCO) announced first-quarter earnings of 48 cents per share (excluding items), topping analysts' estimates by two pennies. Revenue rose 6% to $11.88 billion, above expectations of $11.77 billion (CNBC); Staples, Inc. (NASDAQ:SPLS) reported quarterly profits of 46 cents per share in the third quarter, excluding items. This number narrowly surpassed the Street's per-share estimate of 45 cents. Revenue, however, edged 2% lower to $6.35 billion, falling short of expectations. (Reuters)

  • In its second major recall in just over a month, Toyota Motor Corporation (ADR) (NYSE:TM) is recalling 2.77 million vehicles from around the globe, due to issues with the steering component and water pump. The defects have caused no accidents and can be fixed in about an hour, but may cost the automaker hundreds of millions of dollars to repair. (Chicago Tribune)

  • Intel Corporation (NASDAQ:INTC) and QUALCOMM, Inc. (NASDAQ:QCOM) may partner up to invest roughly 30 billion yen ($378 million) in Japanese electronics concern Sharp Corp. Sharp -- whose displays are widely seen on iPads and iPhones -- may be a good match for Intel in particular, as it tries to shift out of PCs into the smartphone and tablet marketplace. (Reuters)

  • Advanced Micro Devices, Inc. (NYSE:AMD) is dispelling rumors that it is putting itself (or any of its patents) up for sale. The semiconductor company has cut its staff by about 15%, however, and has seen its stock price dip 76% in the past eight months. (Bloomberg Businessweek)

  • Zynga (NASDAQ:ZNGA) has announced another high-profile departure as it loses its Chief Financial Officer, Dave Wehner. Wehner is reportedly exiting the beleaguered social-gaming company for a larger player in the social-media world: Facebook Inc (NASDAQ:FB). In other management news, Zynga's head of mobile operations has been promoted to chief operations officer, filling a post that had been empty since August. (CNN)

  • Wal-Mart Stores, Inc. (NYSE:WMT) has debuted Goodies, a delivery service that allows customers to sample organic and ethnic grocery choices. In exchange for a monthly fee of $7, subscribers will receive trial portions of unique products not available in WMT stores, which can then be purchased in regular sizes on a separate website, (USA Today)

  • Plaintiffs have filed a $250 million class-action lawsuit against Papa John's International, Inc. (NASDAQ:PZZA), alleging the pizza chain sent roughly half a million unwanted text messages in early 2010. A PZZA spokeswoman notes the alleged spam was delivered via a third-party service, thereby invalidating claims against the eatery. (CNN)

  • And finally, rapper-actor-entrepreneur 50 Cent banked $177,000 in nine minutes by selling his $249.95 headphones on the shopping network QVC. (Philadelphia Inquirer)

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