Schaeffer's Trading Floor Blog

Buzz Stocks: Nokia, Target, New York Times, and Abercrombie & Fitch

Today's stocks to watch include NOK, TGT, NYT, ANF, and KFT

by 8/15/2012 9:09 AM
Stocks quoted in this article:

As investors prepare to chew on a slew of economic data points today, U.S. stock futures are pointed modestly lower. Meanwhile, the S&P 500 Index (SPX) continues to dance around the 1,400 level. From Abercrombie earnings to a new CEO that will decide what news is fit to print, here are some stocks to watch today:

  • Earnings News: Staples, Inc (NASDAQ:SPLS) announced a 32% drop in fiscal second-quarter earnings and lowered its full-year guidance as sales recoiled 5.5% (The Wall Street Journal); Target Corporation (NYSE:TGT) second-quarter earnings glided above analysts' expectations and revenue rose 3.3% (Bloomberg BusinessWeek); It was a rough second quarter for Abercrombie & Fitch Co. (NYSE:ANF), as the retailer posted a 52% drop in earnings. In other news, ANF upped its stock buyback program by 10 million shares (The Wall Street Journal); Bob Evans Farms Inc (NASDAQ:BOBE) reported a 16% drop in first-quarter earnings but lifted its full-year earnings estimate by a penny. The restaurateur and packaged-foods company also boosted its quarterly dividend to 27.5 cents from 25 cents per share. (The Wall Street Journal)

  • Nokia Corporation (ADR) (NYSE:NOK) is higher in pre-market trading after announcing plans to launch a smartphone using Microsoft Corporation's (NASDAQ:MSFT) Windows 8 platform. Tech watchers hope the new device will be released ahead of the next iPhone from Apple Inc. (NASDAQ:AAPL). (Reuters)

  • The New York Times Company (NYSE:NYT) has appointed former BBC executive Mark Thompson as its chief executive officer, capping off a nine-month search. (Bloomberg)

  • The Board of Directors for Kraft Foods Inc (NASDAQ:KFT) has given the thumbs up for a spin-off of the consumer-products giant's North American grocery business. As previously reported, the new company will begin to trade under the symbol "KRFT," leaving Kraft Foods Inc. with the name Mondelez International and the ticker "MDLZ." (NASDAQ)

  • Carlyle Group LP (NASDAQ:CG) is buying a $3.3 billion controlling stake in Getty Images from private equity firm Hellman & Friedman. Getty distributes photos, videos, and other multimedia products for use online and in print. (CNBC)

  • Finally, the Food and Drug Administration found something wrong with The Hershey Company (NYSE:HSY) implying that its chocolate syrup is healthy. (The Consumerist)

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