Schaeffer's Trading Floor Blog

Buzz Stocks: Michael Kors, Texas Instruments, Amgen, and Oracle Corporation

Among today's stocks to watch: KORS, TXN, AMGN, ORCL, and MCD

by 9/21/2012 9:12 AM
Stocks quoted in this article:

It's expiration Friday after five long weeks, and U.S. stock futures are pointed higher as global investors hold out hope that Spain can reach a bailout resolution to its fiscal problems. For those of you not standing in an iPhone 5 line, here are some stocks in the news to watch today:

  • Earnings news: Oracle Corporation (NASDAQ:ORCL) said per-share earnings came in at 53 cents (excluding items), matching analysts' consensus view. Revenue, however, came up short of expectations (Silicon Valley Mercury News); KB Home (NYSE:KBH) booked third-quarter net income of 4 cents per share, versus a year-ago loss of 13 cents. Revenue was up 16% for the period, and net orders grew by 3% to 1,900 homes. (Reuters)

  • Also on the earnings front, Michael Kors Holdings Ltd (NYSE:KORS) upped its earnings and revenue outlooks for the second quarter and full year, noting double-digit same-store sales growth. For the second quarter, the apparel designer expects to earn 38 cents to 40 cents per share (five cents better than its earlier outlook). Fiscal 2013 is expected to be seven cents more profitable than originally projected, with per-share earnings of $1.39 to $1.41 per share. (The Wall Street Journal)

  • Two bits of dividend news today: Texas Instruments Incorporated (NASDAQ:TXN) upped its quarterly payout by 24% to 21 cents per share, marking the ninth year in a row the chipmaker has boosted its dividend. It will be payable on November 19 to shareholders of record on Oct. 31 (Bloomberg); McDonald's Corporation (NYSE:MCD), meanwhile, raised its quarterly dividend by 10% to $0.77 per share. Shareholders of record by December 3 will receive a payout on December 17. (Barron's)

  • The Boeing Company (NYSE:BA) secured a $3.3 billion order from Japan's All Nippon Airways (ANA), who plans to buy 11 Dreamliner planes. ANA will take delivery of the aircraft between 2018 and 2021. (Reuters)

  • The U.S. Food and Drug Administration has approved Prolia -- an injection developed by Amgen, Inc. (NASDAQ:AMGN) -- for treating osteoporosis in men. In the second quarter, AMGN sold $120 million of the drug, which had already been cleared to treat postmenopausal women with osteoporosis. (Chicago Tribune)

  • The Canadian arm of General Motors Company (NYSE:GM) has reached a tentative contract with the Canadian Auto Workers Union, providing annual lump sum payments for workers but no salary adjustments. This came roughly 72 hours after the union settled with the Ford Motor Company (NYSE:F) unit in Canada.(The New York Times)

  • The Dow Jones Industrial Average will bid adieu to Kraft Foods Inc (NASDAQ:KFT) today. The macaroni-and-cheese pioneer plans to spin off its North American grocery business; as a result of its subsequently reduced size, it can no longer trade in the blue-chip index. KFT will be replaced by insurer UnitedHealth Group Inc. (NYSE:UNH) on Monday. (The Wall Street Journal)

  • Finally, Wayne "Newman!" Knight will be playing Santa in the Broadway musical Elf (based on the 2003 Will Ferrell movie of the same name). Passing down the red pants will be George "Norm!" Wendt, who originated the role on stage in 2010. (Entertainment Weekly)

Here are some additional articles of interest:


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