Schaeffer's Trading Floor Blog

Buzz Stocks: Salesforce.com, Bristol-Myers Squibb, QUALCOMM, and Microsoft

Among today's stocks to watch: CRM, BMY, QCOM, PNRA, and MSFT

by 8/24/2012 8:33 AM
Stocks quoted in this article:

Stocks are headed lower this morning as QE3 hopes once again recede into the background. To round up the week, here are some stories we are watching:

  • Earnings news: Salesforce.com, inc. (NYSE:CRM) sales rose 34% in the second quarter, edging out analysts' estimates. The company's per-share earnings results of 42 cents also topped expectations. For the current quarter, however, CRM expects per-share earnings of 31 to 32 cents, falling shy of the consensus 34-cent view (Bloomberg BusinessWeek); Autodesk, Inc. (NASDAQ:ADSK) announced second-quarter results and revenue that missed analysts' expectations. In other company news, the software firm plans to eliminate jobs, resulting in up to $60 million in restructuring charts. (NBC News)

  • Bristol-Myers Squibb Co. (NYSE:BMY) has tapped the brakes on development for a potential hepatitis C treatment. The pharmaceutical company said it ended a mid-stage test of the drug after a participating patient died of heart failure. Eight other patients taking part in the study were hospitalized. (BusinessWeek)

  • Brinker International, Inc. (NYSE:EAT), the parent of Chili's and other casual eateries, has lifted its quarterly dividend by 25% to 20 cents per share. The restaurateur has also upped its stock buyback amount to $626 million. (CBS News)

  • Elsewhere in the sector, Panera Bread Co (NASDAQ:PNRA) said its Board signed off on a three-year share repurchase plan worth up to $600 million. (Investor's Business Daily)

  • QUALCOMM, Inc. (NASDAQ:QCOM) is investing an unspecified amount to acquire Israeli-based chip maker DesignArt Networks. QCOM officials noted, "DesignArt and its products [which include high-speed wireless infrastructure] will both enhance and accelerate our initiatives to derive increased capacity and coverage in mobile networks." (MarketWatch)

  • Something else new will be packaged along with the Windows 8 operating system from Microsoft Corporation (NASDAQ:MSFT). The company is introducing its first new logo in 25 years. Early reviews are mixed. (The Washington Post)

  • Finally, the feud between Madonna and Elton John may be nearing resolution. The First Lady of Pop extended an olive branch at a concert in France, dedicating a song to Sir Elton. We can all rest easy at night. (Entertainment Weekly)


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