Corning FORMS JV With Samsung and 3 Morning Hot Stocks to Note
Supplemental insurance provider Aflac (NYSE:AFL) reported operating earnings higher by 3.9 percent on a year on year basis, revenues climbed 9.2 percent of which U.S. revenues were up 5.2 percent; ROE on an annualized basis works out to 13.9 percent. Pressure on investment yields leads the company to guide towards the lower rung of the 2012 EPS of $6.45 – $6.52.
The hire of new CEO Marissa Mayer by Yahoo (NASDAQ:YHOO) appears to have led Dan Loeb’s Third Point to invest in another 2.5 million shares in the company, giving it a stake of about 73 million shares or 6 percent of outstanding capital.
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Strong demand for LCD and 3D TVs in China has led Corning (NYSE:GLW) and Samsung (SSNLF) to form a Chinese LCD glass joint venture that will build a Gen. 8 glass plant in Wuxi city costing up to $600 million. Production is likely to commence end-2013.
Ryder System (NYSE:D), provider of transportation and supply chain management products, posted a moderate Q2, but stands out in a weak environment as it nudges up its Q3 guidance to the upper range of estimates. Q3 EPS is expected at $1.15 – $1.22 per share and FY12 earnings could be $3.75 – $3.90. Market expectations were $1.17 and $3.76 respectively.
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