Cal-Maine Falls Short of Expectations and 4 Hot Stocks to Watch
Samsung Semiconductor (SSNLF.PK) is considering constructing a new sales and R&D center in San Jose consisting of a 10-storeyed building having a floor area about 1.1 million square feet. The report in Engadget.com claims the facility will include a parking garage and an amenity pavilion, and be laid out “to encourage interaction among staff.’
According to BusinessInsider, serial entrepreneur Blake Krikorian has quit his position as a director on the board of Amazon.com Inc (NASDAQ:AMZN) after selling one of his companies and taking a position at the acquirer of the company. There has been speculation that Amazon rivals such as Apple Inc (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG) and Microsoft Inc (NASDAQ:MSFT) have been looking to acquire Krikorian’s year-old home automation startup id8 Group R2 Studios Inc.
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Malpractices by banks such as improper paperwork, high fees leading to foreclosures, and the packaging and sale of risky mortgage securities that collapsed during the financial crisis will cost them another $10 billion in terms of final settlements. Of this, about $3.75 billion would be made available to people evicted from their homes, according to the New York Times. About 14 banks, including JPMorgan (NYSE:JPM), Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Citigroup (NYSE:C) and Ally Financial, might reach a deal on the settlement with regulators by the end of the week.
Cal-Maine Foods (NASDAQ:CALM) reports Q2 EPS of $0.60 which is short of analysts’ expectations by $0.37. Revenues grow 13.3% year-on-year to $328.9 million. Profitability for the quarter was pressured by higher costs incurred on primary feed ingredients and additional expenses relating to recent acquisitions.