Schaeffer's Trading Floor Blog

Buzz Stocks: Microsoft Corporation (MSFT), Apple Inc. (AAPL), Hewlett-Packard Company (HPQ), and BlackBerry Ltd

Today's stocks to watch in the news include MSFT, AAPL, HPQ, and BBRY

by 10/10/2013 9:45 AM
Stocks quoted in this article:

As the government begins the tenth day of its shutdown, futures are surging on the hopes of a breakthrough in congressional budget negotiations. In company news, here are some stocks to watch today:

  • According to inside sources, Microsoft Corporation (NASDAQ:MSFT) is winnowing its list of candidates to succeed CEO Steve Ballmer, with the expectation of having a new chief executive in place by year-end. Candidates that have already been interviewed are said to include Ford Motor Company (NYSE:F) CEO Alan Mulally, former Nokia Corporation (ADR) (NYSE:NOK) CEO Stephen Elop, and Pivotal CEO Paul Maritz, who formerly worked for MSFT. (Bloomberg)

  • An Apple Inc. (NASDAQ:AAPL) job posting in China has led to increased speculation that the company is nearing a partnership with China Mobile Ltd. (ADR) (NYSE:CHL) to launch the iPhone on the planet's largest mobile network. The opening requires an engineer with extensive knowledge of TD-SCDMA, which is a communications protocol used only by CHL. (CNET)

  • The board of Aruba Networks, Inc. (NASDAQ:ARUN) has authorized an expansion of its existing stock repurchasing program by up to $100 million. The original program -- which was approved in June 2012, and was also worth $100 million -- reached its spending limit three months ago, prompting the decision to increase the funds available for buybacks. (MarketWatch)

  • Hewlett-Packard Company (NYSE:HPQ) anticipates its revenue to stabilize next year -- compared to analysts' projections of a 3% decrease -- allowing the firm to return more cash to shareholders. Excluding items, HPQ said it expects to earn $3.55 to $3.75 per share, bracketing the consensus estimate of $3.61. In addition, the company promised to return at least 50% of its free cash flow to stockholders, via buybacks and dividends. (Bloomberg Businessweek)

  • BlackBerry Ltd (NASDAQ:BBRY) is warming up to the idea of a breakup, an inside source said. Amid concerns that Fairfax Financial Holdings Ltd. may not be able to muster the $4.7 billion it would take to buy the company outright, advisers have been pushing BBRY to sell its most valuable components to the highest bidders, which could include major names such as Cisco Systems, Inc. (NASDAQ:CSCO) and SAP AG (ADR) (NYSE:SAP). (Bloomberg)

  • Ruby Tuesday, Inc. (NYSE:RT) shares fell 17% out of the gate this morning after the restaurant posted a fiscal first-quarter earnings miss. RT's per-share loss of 37 cents came in well below forecasts for a loss of 5 cents, and its $289.7 million in sales was about $8 million short of the consensus outlook. The lackluster performance is largely attributable to an 11.4% drop in company-owned same-store sales, plus an 8.4% decline at its U.S. franchise locations. (CNBC)

  • Chevron Corporation (NYSE:CVX) has cautioned investors that its third-quarter earnings will be lower than they were in the prior quarter, due to decreasing fuel margins and a foreign-exchange loss of about $300 million. Analysts were expecting per-share earnings of $3.08 for the current quarter -- considerably higher than CVX's second-quarter earnings of $2.77 per share. (CNBC)

  • Finally, kids seeking out free toys should avoid the Golden Arches early next month, because McDonald's Corporation (NYSE:MCD) is planning to give away books from Nov. 1 through Nov. 14. A company spokeswoman said the paperbacks, which will come with each Happy Meal purchase, are meant to "educate and inspire good choices." (USA Today)


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