HP DECLARES Dividend and 4 Hot Morning Stocks Rounding Out the Week
Regardless of a miss on its Q2 earnings, and the drop of 5 percent in the stock of Morgan Stanley (NYSE:MS), CLSA’s Mike Mayo boosts the firm’s rating from Underperform to Outperform and ups its price target from $15 to $16.
Baker Hughes (NYSE:BHI) reported a solid Q2 as profits rose over 30 percent to $439 million and revenues came in ahead of estimates due to a good performance from onshore operations in the U.S. that also countered the seasonal slowdown in Canadian operations. With the company showing sustained improvement internationally and in the Gulf of Mexico, CEO Martin Craighead remains cautiously upbeat for the rest of the year.
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Leerink Swann have upgraded the shares of Onyx Pharmaceuticals (NASDAQ:ONXX) to Outperform and the PT is boosted from $65 to $82 saying the firm will see a “significant positive” on the outlook for its Nexavar liver cancer treatment after the failure of Bristol-Myers‘ (NYSE:BMY) brivanib to meet its primary survival objective.
Hewlett-Packard (NYSE:HPQ) declares a dividend of $0.132 per share, the fourth in HP’s fiscal year 2012, payable on Oct. 3, 2012, to stockholders of record as of the close of business on Sept. 12, 2012; the payout gives a forward yield of 2.76 percent.
Shares of Chipotle (NYSE:CMG), a leader in the fast-casual dining segment, fell 12 percent after the company reported a slowdown in customer traffic and warned of higher food costs due to extreme weather.