Schaeffer's Trading Floor Blog

Buzz Stocks: Microsoft, General Electric, Starbucks, and Yahoo!

Among today's stocks in the news to watch: MSFT, GE, SBUX, and YHOO

by 10/19/2012 8:55 AM
Stocks quoted in this article:

A round of mixed earnings results has spooked investors somewhat, resulting in a potentially lower start to the session. Meanwhile, homebuilders will be in focus once again as existing home sales hit the Street. To round out your expiration Friday, here are some stocks to watch:

  • Earnings news: Google Inc (NASDAQ:GOOG) said -- prematurely -- that third-quarter earnings came in at $9.03 per share (excluding items), down from $9.73 the previous year and well south of analysts' estimates. Revenue also fell short of the mark (USA Today); General Electric Company (NYSE:GE) announced per-share earnings of 36 cents (excluding items) for the first quarter, matching the consensus view. Revenue, however, was just shy of expectations at $36.35 billion versus $36.95 billion (Bloomberg Businessweek); Microsoft Corporation (NYSE:MSFT) posted a 22% drop in first-quarter revenue to $16 billion, while earnings per share totaled 53 cents. Analysts were targeting per-share results of 56 cents and $16.5 billion in sales. (MarketWatch)

  • Archer Daniels Midland Company (NYSE:ADM) has acquired a 10% stake in Australian firm GrainCorp Ltd. as a potential precursor to a larger deal. ADM shelled out for 22.8 million GrainCorp shares at $11.75 apiece, or a 33% premium to the previous closing price. (The Wall Street Journal)

  • Starbucks Corporation (NASDAQ:SBUX) has opened its first store in India, marking its presence in its 61st country. With this expansive two-level Mumbai location, the company hopes to tap into what promises to be a growing coffee market. (CNN)

  • Meanwhile, Yahoo! Inc. (NASDAQ:YHOO) announced it will close its Korean business within the next few months as it streamlines its overall global business. YHOO cited "growing challenges" (in a market replete with local competition) as the reason for this exit. (TechCrunch)

  • Sony Corporation (ADR) (NYSE:SNE) is shuttering a factory in central Japan, resulting in the elimination of 840 jobs. The restructuring move -- which coincides with roughly 1,100 early retirement arrangements -- is expected to save the electronics company $385 million. (The Washington Post)

  • Finally, today marks the 25-year anniversary of "Black Monday," when the Dow Jones Industrial Average faced its worst single-day drop since 1929, plunging 22.6%. It would ultimately take about two years to recover this one-session drop. (Financial News)

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