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Bank of America (NYSE:BAC): With cyber crime, last year, costing the finance sector an estimated $2.5 billion, firms are buying new Internet domain suffixes in an attempt to prevent scammers from deceiving customers into giving them their confidential details at bogus websites that look authentic. The new suffixes include dot-citi (NYSE:C), dot-bofa (NYSE:BAC) and dot-barclays (NYSE:BCS). COF, JPM and American Express (NYSE:AXP)are also buying addresses.
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J.M. Smucker (NYSE:SJM): J.M. Smucker’s sales breakdown is the following: U.S. Retail Coffee +4%, U.S. Retail Consumer Foods +15%, International +40%. The company’s volume, led by peanut butter and Folgers Coffee brands is up by 2%. The purchased Sara Lee food service business added 7 percentage points to their net sales growth. In the fiscal year 2013, the firm’s net sales gross is expected to increase by 7%, while their earnings per share will fall in the range of $5.00-$5.10.
Walgreen (NYSE:WAG): Following a broad post ESRX settlement trend, and falling back into favor with the Street, Morgan Stanley upgraded Walgreen (NYSE:WAG) to Equal-weight from Underweight shares of WAG +16.2% over the last 30 days, with an improved visibility.
Gap Inc. (NYSE:GPS): Gap Inc. has continued their top line growth with healthy merchandise margins. Chief Executive Officer Glenn Murphy said that due to online and social media, their marketing investments have paid off because they have helped to increase their product demand. Traffic at their outlets is also good. Executives anticipate that the company will stick with their goal which is to open 30 stores in China. However, they will test the reaction to their brands before jumping in full force.
Apple Inc. (NASDAQ:AAPL): Apple Inc. (NASDAQ:AAPL) has been reiterated as a Conviction Buy by Jefferies’ Peter Misek, who also raised his price target from $800 to $900. Checks show the iPad Mini and the iTV have gone into production, and further data indicates that the expected iPad builds have been substantially bumped for the rest of the year. The $900 PT comes from slapping a 12X multiple (ex-cash) on their expected, fiscal year 2013, earnings per share.
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