Schaeffer's Trading Floor Blog

Buzz Stocks: JPMorgan, Boeing, General Motors, and Biogen

Among today's stocks in the news to watch are JPM, BA, GM, and BIIB

by 1/16/2013 8:46 AM
Stocks quoted in this article:

U.S. stock futures are pointed lower this morning, indicating an open that will erase yesterday's modest gains. Meanwhile, here are some stocks to watch in the news today:

  • Earnings news: JPMorgan Chase & Co. (NYSE:JPM) announced a 53% surge in fourth-quarter profit, banking per-share earnings of $1.39. The figure topped the average analyst outlook of $1.16 per share. Revenue edged higher for the period, up to $24.4 billion from $22.2 billion a year ago, roughly in line with the consensus view. (CNBC); Goldman Sachs Group, Inc. (NYSE:GS) announced per-share earnings of $5.60, up from $1.84 in the year-ago reporting period. Analysts were projecting more modest growth to $3.71 per share, according to FactSet. Revenue surged 53% to $9.2 billion from the fourth quarter of 2011. (USA Today)

  • Meanwhile, General Motors Company (NYSE:GM) said it expects "modest" growth in its 2013 profit, as it faces increased competition in the Chinese market and rising costs in North America. The automaker's chief financial officer for North America projected that "The second half of the year is going to be better than the first half," as new vehicles are introduced. (Bloomberg Businessweek)

  • The Dreamliner drama continues to be a nightmare for The Boeing Company (NYSE:BA), as Japan's two largest airlines grounded all of the aerospace company's 787s for safety checks. One of All Nippon Airways' (ANA) jets was forced to make an emergency landing following an error message across the cockpit console and a burning odor. ANA operates 17 of the 787s, while Japan Airways' fleet has seven. (USA Today)

  • Investment banking giant Morgan Stanley (NYSE:MS) will defer bonuses to all employees making more than $350,000 annually and who are slated to receive a bonus of $50,000 or more. The company will take three years to gradually complete the deferred payments, which will take the form of half cash, half stock. This move strives to achieve a dual purpose: improving retention rates and placating shareholders. (Chicago Tribune)

  • United Airlines -- a division of United Continental Holdings Inc (NYSE:UAL) -- is becoming the first U.S. carrier to provide in-flight Wi-Fi service on overseas routes, including trans-Atlantic and trans-Pacific treks. Three hundred of its aircrafts will be equipped with the service by the end of the year and will cost passengers between $3.99 and $14.99, depending on the flight's duration. (TechCrunch)

  • Biogen Idec Inc. (NASDAQ:BIIB) and Elan Corporation, plc (ADR) (NYSE:ELN) have filed for U.S. Food and Drug Administration and European Medicines Agency approval of their jointly developed drug Tysabri as a first-line treatment for multiple sclerosis. The medication is already approved in 65 countries for use in reducing flare-ups of the illness. (Zenopa)

  • In the wake of Lance Armstrong's doping confession to Oprah Winfrey, NIKE, Inc. (NYSE:NKE) has pledged its continued support to the Livestrong charity. While the athletic apparel giant severed its ties with the cyclist in October, it will still donate $7.5 million in 2013 and 2014 to the cancer foundation he founded. Other donors, however, have backed away from the organization. (Portland Business Journal)


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