Schaeffer's Trading Floor Blog

Buzz Stocks: Lowe's, Cisco Systems, Lion's Gate, and BP

Today's hot stocks to watch in the news include LOW, CSCO, LGF, and BP

by 11/19/2012 8:53 AM
Stocks quoted in this article:

The holiday-shortened week looks ready to start off on a positive note, as futures are solidly higher. Meanwhile, Cisco is moving further into the cloud and BP is hoping to help its sagging shares. Here are some stocks making news today:

  • Earnings news: Lowe's Companies, Inc. (NYSE:LOW) reported a third-quarter jump in net income to 35 cents per share. Excluding items, the home-improvement retailer banked 40 cents per share, topping analysts' estimates by four cents. Revenue edged up 2% to $12.07 billion, also exceeding expectations (ABC News); Tyson Foods, Inc. (NYSE:TSN) said fourth-quarter earnings surged 91% to 55 cents per share (excluding earnings), while revenue was virtually flat at $8.37 billion. Analysts were projecting per-share results of 44 cents on $8.48 billion in sales. The company's chicken business posted profits of $116 million, a notable change from the year-earlier loss of $82 million. (MarketWatch)

  • Cisco Systems, Inc. (NASDAQ:CSCO) has spent $1.2 billion to scoop up Meraki, a privately held cloud computing company that offers Wi-Fi technology, online security, and mobile device administration. The deal is expected to close in 2013 following regulatory approval. (CNBC)

  • Even facing a hefty fine, BP will also spend roughly $5.9 billion to buy back its own shares. Since the Deepwater Horizon disaster, BP has shed about one-third of its value. (Reuters)

  • It was a big weekend for Lions Gate Entertainment Corp. (USA) (NYSE:LGF), as Breaking Dawn - Part 2 -- the fifth and last installment of The Twilight Saga -- collected more than $141 million at the domestic box office. This was the second-best debut for Twilight series films. (Bloomberg Businessweek)

  • From the rumor mills, Yahoo! Inc. (NASDAQ:YHOO) and Facebook Inc (NASDAQ:FB) are reportedly considering forging an alliance around search. While "anonymous insiders" are occasionally credible, this speculation could wind up being only that -- speculation. For one thing, YHOO already has a 10-year contract in place with Microsoft Corporation's (NASDAQ:MSFT) Bing, only three of which have been completed. Other sources with the companies are already dismissing the reports as fallacy. (Gizmodo, AllThingsD)

  • Finally, Justin Bieber and Taylor Swift were the big winners at the 40th annual American Music Awards (AMAs). And just so the post-Generation-Y sect had something to watch, Stevie Wonder offered a musical tribute to AMA founder, Dick Clark. (CBS News)

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