Schaeffer's Trading Floor Blog

Buzz Stocks: Dell, BP, Starbucks, and NIKE

Among today's stocks in the news to watch: DELL, BP, SBUX, NKE, and EBAY

by 11/16/2012 8:44 AM
Stocks quoted in this article:

Stocks are looking at a fourth consecutive down day, as futures are slightly lower amid continued fiscal-cliff fears. Elsewhere, BP is being forced to open its coffers, and Twinkies may be going the way of the Oldsmobile. Here are stocks to watch in the news this options-expiration Friday:

  • Earnings news: Dell Inc. (NASDAQ:DELL) confessed a 47% drop in net income to 27 cents per share. Excluding items, the PC maker banked 39 cents per share, a penny shy of analysts' estimates. Revenue slid 11% lower to $13.72 billion, also falling short of the consensus outlook (CNBC); Gap Inc. (NYSE:GPS) announced a third-quarter profit of 63 cents per share, up from 38 cents the prior year and in line with analysts' estimates. Sales jumped 7.8% to $3.86 billion, edging out expectations. The apparel retailer also lifted its earnings forecast for the full year to $2.20 to $2.25 per share. (Bloomberg Businessweek)

  • BP plc (ADR) (NYSE:BP) will pay a $4 billion fine for the role it played in the 2010 oil spill disaster in the Gulf of Mexico. In addition, three of its employees were indicted on criminal charges, including manslaughter. This is in addition to roughly $525 million in civil penalties already levied against the oil company. (Los Angeles Times)

  • In an attempt to up shareholder value, Starbucks Corporation (NASDAQ:SBUX) said it will repurchase 25 million additional shares, augmenting its existing plan. The coffee giant's total authorized buyback now amounts to 37.1 million shares. (MarketWatch)

  • NIKE, Inc. (NYSE:NKE) announced a two-for-one stock split, scheduled for Dec. 24. The athletic apparel and footwear company also lifted its quarterly dividend by 17% to 21 cents per share. This will be payable on Dec. 26 for shareholders of record as of Dec. 10. (Huffington Post)

  • The Procter & Gamble Company (NYSE:PG) is making cutbacks to its non-manufacturing workforce, eliminating between 2% and 4% of these jobs over three fiscal years starting in 2014. This is in addition to an already announced reduction that will cut the consumer-products giant's employee pool by 10%. (Chicago Tribune)

  • eBay Inc (NASDAQ:EBAY) users in New York City -- at least the majority of Manhattan and western Brooklyn -- can now enjoy same-day delivery. As a holiday promotion, eBay is making customers' first three deliveries free. (TechCrunch)

  • Stock up on Twinkies while you can -- privately owned Hostess Brands Inc is seeking permission to liquidate its iconic brands as part of bankruptcy proceedings. The company will also lay off 18,500 workers. (CNBC)

  • Finally, Burger King locations in Japan are offering an all-you-can-eat buffet featuring burgers, fries, and onion rings, for customers who want to get their fill within a half-hour time frame. The deal will be offered from Nov. 17 through Nov. 21. (The Consumerist)

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