Dollar General Takes a Tumble and 4 Hot Stocks Buzzing Today
Family Dollar Stores (NYSE:FDO) reported a small earnings increase, but missed analysts expectations. The Matthews, North Carolina-based company reported first quarter earnings of $80.3 million, or 69 cents per share, down slightly from $80.4 million, or 68 cents a share last year. On average, analysts expected to see earnings of 75 cents per share.
Zipcar (NASDAQ:ZIP): According to The New York Times, the $500 million acquisition of Zipcar by the Avis Budget Group represents an inevitable evolution for a company that has been more successful as a collectivist concept than as a profit-making venture. For Avis, the purchase represents a new direction in an extremely competitive car rental market and an about-face for Ronald L. Nelson, the company’s chairman and Chief Executive, who had resisted entering the car-sharing segment.
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Dollar General Corp. (NYSE:DG): After forecasting second-quarter earnings that missed estimates, Family Dollar Stores Inc. tumbled 11%.
Alcoa Inc. (NYSE: AA) is basically right back where they were a year ago. This anticipated upside appears to be even less than it was a year ago as analysts now have a consensus target of $10.41. That would represent upside of 20.3% from the current $8.65 share price. For Alcoa, the challenges and the opportunities are often the same. The company keeps suggesting that the aluminum market will double on a world wide basis by 2020. Alcoa is the smallest of the DJIA stocks in market value with a $9.5 billion market cap. Due to their very low share price, it has a very small impact on the DJIA. Alcoa’s dividend yield is also on the low side at only 1.4%.
Longwei Petroleum Investment Holding Ltd. (AMEX:LPH) shares increased 9% and closed at $2.30 in yesterday’s session. The company announced that they had raised their full-year guidance for the fiscal year ending June 30, 2013. The company now forecasts a fiscal year 2013 revenue increase of 30.7% year-over-year to $667.3 million versus prior forecasts of $646.3 million. Longwei also projects net income, adjusted for the warrant derivative liability, to increase by approximately 23.0% year-over-year to $80.1 million versus the prior forecast of $77.6 million.