Schaeffer's Trading Floor Blog

Buzz Stocks: IBM, Target, Apple, and LinkedIn

Among today's stocks to watch: IBM, INTC, TGT, AAPL, and LNKD

by 10/17/2012 8:57 AM
Stocks quoted in this article:

Despite respectable gains across the globe, U.S. stocks are indicated slightly lower ahead of the bell, as investors digest a slew of earnings reports at home. Here are some stocks to watch in trading today:

  • Earnings news: Third-quarter figures failed to impress at Intel Corporation (NASDAQ:INTC) and International Business Machines Corp. (NYSE:IBM). Dropping PC sales cut into Intel's results, as the chipmaker said revenue retreated 5.5% to $13.5 billion and earnings slid lower to 58 cents per share (60 cents on an adjusted basis). Still, both figures managed to exceed analysts' expectations. Meanwhile, Big Blue said earnings per share were essentially flat year-over-year, coming in at $3.62 (excluding items) to exceed expectations. Revenue was moderately lower from the previous year and failed to match the consensus view (USA Today); Bank of America Corp (NYSE:BAC) reported a third-quarter profit of $340 million, or roughly zero cents on a per-share basis. Analysts were expecting a per-share loss of 7 cents. (CNN Money)

  • Target Corporation (NYSE:TGT) is gearing up for the holiday shopping season and vows to remain competitive. On the heels of similar pledges from other traditional retail chains such as Toys R Us, TGT said it will match prices from online rivals including, Inc. (NASDAQ:AMZN). Online holiday sales are expected to account for one-fifth of all purchases this season. (CNN Money)

  • It's official -- Apple Inc. (NASDAQ:AAPL) has distributed press invites for the iPad Mini launch. The invite-only event is scheduled for next Tuesday morning and should put an end to speculation regarding the device's size, features, and price. (Mashable)

  • Visa Inc (NYSE:V) -- fresh from a new record high -- plans to name a new CEO by the end of the month. Current CEO Joseph Saunders will retire when his contract expires in March. (Reuters)

  • LinkedIn Corporation (NYSE:LNKD) is rolling out a significant update to its bread-and-butter -- the profile section. The business-focused social networking site has now made it simpler for its 175 million members to amplify and update their online presences. (TechCrunch)

  • General Motors Company (NYSE:GM) plans on developing an electric version of the Cadillac, using the same technology -- a lithium-powered electric motor along with a gasoline engine -- as the Chevy Volt. (CNN Money)

  • Finally, Beyonce (Knowles) has been tapped as the halftime performer at this season's Super Bowl. The 31-year-old R&B and pop singer follows a post-wardrobe-malfunction string of more seasoned performers, including Madonna, The Who, Bruce Springsteen, and Tom Petty. (Entertainment Weekly)

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