Schaeffer's Trading Floor Blog

Buzz Stocks: Sirius XM, Pfizer, General Motors, and eBay

Today's stocks to watch include SIRI, CVS, PFE, GM, AMZN, and EBAY

by 8/7/2012 9:20 AM
Stocks quoted in this article:

The bulls remain in control this morning, sending stocks higher ahead of the open as the S&P 500 attempts to crack above a significant technical level. Meanwhile, Fed-watchers are waiting to hear what Ben Bernanke has to say at a town hall meeting this afternoon. In the meantime, here is some company-specific news to watch today:

  • Earnings news: Sirius XM Radio Inc (NASDAQ:SIRI) saw its second-quarter revenue rise 13%, exceeding expectations. For the year, the satellite radio company lifted its earnings outlook to $900 million from $875 million (Reuters); CVS Caremark Corporation (NYSE:CVS) earnings rose 18% to slightly surpass analysts' estimates. The pharmacy retailer upped its full-year earnings guidance to $3.32 to $3.38 per share, up from $3.23 to $3.33 (The Wall Street Journal); Chesapeake Energy Corporation (NYSE:CHK) earnings were mixed, as per-share results (excluding items) fell one penny shy of Street expectations, while revenue easily exceeded projections. (MarketWatch)

  • Pfizer Inc. (NYSE:PFE) and Johnson & Johnson (NYSE:JNJ) have cancelled Phase Three trials of a potential Alzheimer's treatment, as the advanced clinical studies failed to achieve the primary goals of halting the profess of dementia. (The Wall Street Journal)

  • General Motors Company (NYSE:GM) is facing a $3 billion federal lawsuit filed by Spyker, owner of the Saab brand of automobiles. The Dutch company alleges GM deliberately tried to force Saab into bankruptcy by preventing various deals that could have saved the brand. GM purchased Saab in 2000 and sold it to Spyker in February 2010. (Detroit Free Press)

  • DreamWorks Animation SKG, Inc. (NASDAQ:DWA) along with financial partners in China, have announced plans for a $3.14 billion Shanghai-based theme park, expected to open by 2016. CEO Jeffrey Katzenberg calls the expansion a "perfect fit." (CNBC)

  • In what could be a further challenge to traditional bookstores, Amazon.com, Inc. (NASDAQ:AMZN) has unveiled a textbook rental program for traditional printed books (the online retail giant started a digital textbook rental service last year). Students can pay a fee -- up to 70% less than the retail purchase price -- to keep the books for up to 130 days (and return them in decent condition). (Los Angeles Times)

  • Speaking of Amazon, eBay Inc (NASDAQ:EBAY) is experimenting with a service called eBay Now, which offers same-day delivery service in partnership with traditional retailers such as Target Corporation (NYSE:TGT) and Macy's, Inc. (NYSE:M). The service – which is powered by a mobile app -- works through a network of couriers. Once a shopper buys a product, the courier accepts the order, drives to the physical store to retrieve it, and delivers it to the shopper's home. (Reuters)

  • What do you mean you're not on Facebook Inc (NASDAQ:FB)? If you don't have a presence on the social media site, it could raise a red flag, according to some employers and psychologists. (Daily Mail)


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