Schaeffer's Trading Floor Blog

Buzz Stocks: Sirius XM, Netflix, General Motors, and Comcast

Today's hot stocks to watch in the news include SIRI, NFLX, GM, and CMCSA

by 11/1/2012 9:05 AM
Stocks quoted in this article:

It's a busy day on Wall Street and investors are cautiously optimistic ahead of a number of earnings reports and economic data. U.S. markets could also get a lift from strength in overseas markets. Meanwhile, here are some companies making news ahead of the open:

  • Earnings news: Sirius XM Radio Inc (NASDAQ:SIRI) announced a third-quarter profit of a penny per share on revenue of $867.4 million, narrowly outpacing analysts' estimates. The company added almost half a million subscribers during the reporting period (Bloomberg); Visa Inc (NYSE:V) earned $1.54 in its fiscal fourth quarter, exceeding analysts' expectations by four cents. Revenue rose 15% to $2.73 billion, also topping estimates (Barron's); Excluding items, Exxon Mobil Corporation (NYSE:XOM) banked $2.09 per share in its third quarter, above the $1.96 expected by analysts. (Bloomberg Businessweek)

  • Netflix, Inc. (NASDAQ:NFLX) has a new shareholder, as Carl Icahn acquired a 10% stake in the streaming video company, noting that it is undervalued. Investors appreciated this vote of confidence from the billionaire investor and sent the shares higher yesterday afternoon. (Reuters)

  • Close to 30% of General Motors Company (NYSE:GM) retirees opted for a lump-sum pension payout in lieu of a monthly check. By distributing these individual payments -- up to $400,000 -- GM will eliminate roughly $29 billion of its estimated pension liability. (Detroit Free Press)

  • Comcast Corporation (NASDAQ:CMCSA) is offering free WiFi via its Xfinity hot spots to anyone impacted by Hurricane Sandy. The service will be provided in nine states plus Washington, D.C., through November 7. (CNET)

  • Target Corporation (NYSE:TGT) announced a 2.4% jump in October same-store sales, citing improved demand for food and health and beauty products. The reading was below analysts' expectations for a 3.3% increase. (Yahoo! Finance)

  • Finally, from the how-do-I-get-that-gig department, here's a guy who earns his salary by jumping on mattresses every day. (San Francisco Chronicle)

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