Schaeffer's Trading Floor Blog

Buzz Stocks: American Express, Ford Motor, Sirius XM Radio, and JPMorgan

Today's hot stocks to watch in the news include AXP, F, SIRI, and JPM

by 1/11/2013 9:21 AM
Stocks quoted in this article:

After two days in the black, U.S. stock futures have turned just slightly lower in morning trading. In company-specific news, here are some names to watch:

  • Earnings News: After the close last night, Chevron Corporation (NYSE:CVX) offered guidance for its fourth-quarter report (which is set for release on Feb. 1). The gas and oil giant is predicting a quarter-over-quarter increase to its fourth-quarter profit, thanks to improved results from its exploration-and-production operation, as well as its refining, marketing, and chemical businesses. Daily production for the first two months of the quarter jumped 2.3% from the year-ago period, and 6.1% since last quarter. Investors are pleased by the prospect, and have boosted CVX shares by 0.8% in pre-market trading. (MarketWatch)

  • In a conference call with shareholders, American Express Company (NYSE:AXP) announced it is working to restructure its operations in the fourth quarter. The global payments firm said it will reduce its 63,500-strong workforce by 4%-6% by the end of 2013, resulting in 5,400 positions being cut. On top of that, AXP said it will take a $400 million restructuring charge, which, along with other costs, is expected to lower its fourth-quarter net income by 50%. Ahead of the bell, AXP is off by 0.5%. (CNBC)

  • Ford Motor Company (NYSE:F) is taking measures to expand its vehicle lineup worldwide, looking to add 2,200 white-collar positions in its U.S. offices. Most of the jobs will be in F's engineering, manufacturing, and information technology departments. This marks largest growth in new salaried positions for the automaker in more than 10 years. (FOX Business)

  • After a string of recent mishaps, The Boeing Company's (NYSE:BA) 787 Dreamliner is back in the news with two incidents in Japan. The first was a crack in the windshield of an All Nippon Airways-owned craft (spotted an hour into the flight), causing the plane to be diverted to a nearby airport where it landed safely. The other 787 was found to have an oil leak after it had successfully landed at an airport in southern Japan. Due to these troubling setbacks, reports by Reuters and Bloomberg indicate U.S. transportation officials and the Federal Aviation Administration will conduct separate reviews of BA's 787 Dreamliner. (USA Today)

  • Sirius XM Radio Inc (NASDAQ:SIRI) -- which currently has the benefit of being installed in 70% of new vehicles -- is seeing increased competition from Pandora Media Inc (NYSE:P), as more cars come equipped with Internet connections that would allow for the streaming-music service. Both companies were in attendance at the Consumer Electronics Show this week in order to garner supporters among the auto industry. (Chicago Tribune)

  • JPMorgan Chase & Co. (NYSE:JPM) is likely to receive an order from the Federal Reserve and the Office of the Comptroller of Currency requiring the banking giant to adjust shortcomings in its compliance procedures. The bank will probably not have to pay a fine, but will need to implement stricter measures against money laundering. (Reuters)

  • Finally, one Seattle woman is conducting an interesting experiment this year, eating and drinking nothing but products from Starbucks Corporation (NASDAQ:SBUX). So far, she is spending an average of about $19 per day on her meals and beverages and is not receiving any payment from the coffee chain, though she is collecting good fodder for her blog. (The Consumerist)

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