Schaeffer's Trading Floor Blog

Buzz Stocks: FedEx, Sirius XM Radio, Pfizer, and Amazon.com

Among today's stocks in the news to watch are FDX, SIRI, PFE, and AMZN

by 12/19/2012 9:03 AM
Stocks quoted in this article:

After two consecutive triple-digit gains, the Dow is set to head higher again this morning, with futures pointed north ahead of the open. In company news, here are some stocks to watch today:

  • Earnings news: Oracle Corporation (NASDAQ:ORCL) said second-quarter earnings (excluding items) totaled 64 cents per share, exceeding analysts' per-share expectations of 61 cents. Revenue rose 3.2% to $9.09 billion, above the consensus view of $9.02 billion. The software concern also upped its current-quarter guidance, which now straddles analysts' predictions (CNBC); Citing a sluggish economy and effects from Hurricane Sandy, FedEx Corporation (NYSE:FDX) announced an 18-cent drop in second-quarter net profit to $1.39 per share, excluding items. Despite this decline, FDX still posted revenue of $11.1 billion -- a 5% increase from a year ago. Analysts were looking for per-share results of $1.41, on $10.84 billion in revenue. Ahead of the bell, the delivery services giant is up nearly 1%.(CNBC)

  • UBS AG (USA) (NYSE:UBS) was ordered to pay a fine of $1.5 billion to settle charges of fraud, bribery, and "pervasive" rigging of inter-bank interest rates by the Swiss bank. The amount marks the second-largest bank penalty on record, and is more than triple the fine British bank Barclays had to pay in June for similar rigging charges. (NBC News)

  • Faced with the departure of CEO Mel Karmazin, Sirius XM Radio Inc (NASDAQ:SIRI) has appointed Jim Meyer to fill the position on an interim basis. Meyer is currently the satellite radio company's head of sales and operations, and will step into the role immediately while SIRI conducts a search for Karmazin's replacement. (The Baltimore Sun)

  • Amid slumping sales of Lipitor -- which lost its patent 13 months ago -- Pfizer Inc. (NYSE:PFE) will likely reduce its primary-care-drug sales force by about 20%. This amounts to roughly 600 job cuts. (Bloomberg)

  • Amazon.com, Inc. (NASDAQ:AMZN) has been hard at work, not only on the next iteration of its Kindle Fire tablet, but on its contribution to the smartphone market. Reportedly, the online retailing giant will debut a handheld in the $100-to-$200 price range as early as the second quarter next year. There has not yet been an official announcement, however, and an AMZN smartphone has been rumored for more than a year. This would naturally be concerning news for Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG), and other smartphone players. (Los Angeles Times)

  • Finally, seemingly unfazed by the considerable drop in his net worth this year, Mark Zuckerberg donated $500 million to the Silicon Valley Community Foundation yesterday. This was the Facebook Inc (NASDAQ:FB) CEO's largest philanthropic donation to date, but no word on whether it will make FB users forgive the recent shift in privacy terms (or the rumors that autoplay video ads will begin streaming on the site next year). (CNET; CNBC)


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