Ultimate Market Recap: Twitter Tops Facebook in Mobile Ads, VeriFone Falls 13%

Early Buzzers: Walgreens Drops, Navistar Surges 11% and Facebook Climbs Higher

Shares of Walgreens (NYSE:WAG) fell more than 1.21 percent in early morning trading. The company reported it had August sales of $5.85 billion, representing a 4.5 percent decrease from the $6.12 billion seen a year earlier. Prescriptions filled at comparable stores fell 6.8 percent due to not being part of the Express Scripts (NASDAQ:ESRX) pharmacy network.

Navistar International (NYSE:NAV) shares jumped 11 percent, despite reporting that net income in the third quarter fell 94 percent from the year earlier quarter. The company fell short of revenue estimates, but beat on the bottom line. “Clearly we are not pleased with these results,” said Lewis B. Campbell, Navistar chairman and chief executive officer. “However, I was satisfied to learn on day one that Troy Clarke and his team were already working on a plan to deal with many of the important issues we face, most importantly restoring our core North American Truck, Engine and Parts businesses to their market leader positions. I believe we have good line of sight and a keen sense of urgency for moving forward.”

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Facebook (NASDAQ:FB) shares jumped 2 percent in early morning hours, adding on to gains seen yesterday. According to a late Tuesday filing with the Securities and Exchange Commission, Mark Zuckerberg has no intention of selling any of his Facebook shares when a lockup expires in late October. In fact, he plans on keeping his shares in the company for at least one year. Zuckerberg is Facebook’s largest shareholder, with about 444 million shares of Class B common stock and an option for an additional 60 million Class B shares.

Shares of VeriFone Systems (NYSE:PAY) dropped 9.55 percent this morning. Late Wednesday, the company announced that third quarter sales rose 54 percent to $489.1 million, falling short of the average estimate of $498.7 million. “The revenue was a little low in the quarter, and guidance for the next quarter and the next year was lower,” said Gil Luria, an analyst at Wedbush Securities Inc., according to Bloomberg.

Investor Insight: Facebook CEO promises Not to ZUCKER PUNCH Investors

Wall St. Brief: Amazon’s BIG Day, AIG Needs Money, and Navistar Earnings

Apple’s (NASDAQ:AAPL) TV ambitions remain stagnant thanks to the cable-TV industry’s stubbornness to work with them, reported Bloomberg. Disagreements between the two include Apple’s user interface control, its ability to sell consumers hardware rather than lease it, and content deals. Apple has compromised over the last issue; it is “furthest along” in talks with Time Warner Cable (NYSE:TWC).

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After Wednesday’s smartphone unveilings by Nokia (NYSE:NOK) and Motorola (NASDAQ:GOOG), Amazon (NASDAQ:AMZN) will join the party today with its own event. A TV ad has already been showing a “Paperwhite” backlit Kindle e-reader, a 7-inch Kindle Fire, and a second, larger Fire. Meanwhile, according to The Verge,  Amazon may show its rumored but unfinished smartphone.

AIG (NYSE:AIG) reportedly will raise close to $2 billion by selling a portion of its 18 percent share in AIA Group (AAIGF.PK). AIG is offering 600 million shares between  HK$25.75-HK$26.75 each vs. AIA’s Hong Kong closing price of HK$26.30 ($3.39) on Thursday. The news comes after Tuesday’s expiration of the lock-up on AIG’s holding in AIA.

Navistar (NYSE:NAV) dodged a FQ3 net loss from a $196 million tax benefit that helped to offset the company’s botched attempt to create a  a new diesel engine. Navistar did see its net profit fall to $84 million from $1.4 billion in 2011, but it could have been worse. Without the tax benefit, Navistar would have incurred a $100 million loss. Revenue fell 6 percent to $3.32 billion, affected by declining military sales and South American engine volumes.

The merger between Glencore (GLCNF.PK) and Xstrata (XSRAF.PK) could still be saved before a vote of the latter’s shareholders on Friday, reported the Wall Street Journal. Glencore has said it would not accept major Xstrata investor Qatar Holdings demands and raise its offer price, but one phone call could change things.

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Owens Corning NAMES CFO and 4 Hot Stocks on the Move

AuRico Gold Inc. (NYSE:AUQ):  The Company is pleased to announce the appointment of Mr. Daniel Gignac as Vice President of  Operations, Mexico. Mr. Gignac brings over 30 years of global mining experience, where he has held increasingly senior operational roles, most recently with Newmont Mining Corporation. Mr. Gignac will report to Russell Tremayne, Chief Operating Officer, Mexico, and his appointment will further strengthen the current operational team at the Company’s Mexican assets. Mr. Gignac will focus on supporting the accelerated underground development initiatives at the Ocampo mine and further optimize operational enhancements at both the El Chanate and Ocampo mines. Shares of AuRico Gold Inc. are trading at 2.44% higher today.

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Owens Corning (NYSE:OC):   Executive Michael C. McMurray of Owens Corning has been named Chief Financial Officer by the board. He will replace Duncan J. Palmer who has joined Reed Elsevier PLC, a British-based data provider. Shares of the construction and industrial-materials maker are trading at 1.32% higher today.

The Men’s Wearhouse, Inc. (NYSE:MW):  The Men’s Wearhouse turned in a 4.1% increase in their fiscal second-quarter earnings as same-store sales grew for their  namesake and Moores brands. Shares rose 9.9% to $35 in the pre-market, as earnings beat the retailer’s expectations and the company lifted their full-year view. Shares of The Men’s Wearhouse, Inc. are trading 15.5% higher today.

Hovnanian Enterprises, Inc. (NYSE:HOV):  CEO Ara K. Hovnanian commented,”We believe the housing market’s recent overall strength and our significantly improved sales pace this year indicates that the market, for new homes,  has bounced off the bottom and is in a period of gradual recovery. Additionally, we are encouraged with our progress in operating metrics, particularly with the 290 basis point year-over-year improvement of our gross margin, and the 390 basis point reduction in total selling general and administrative expenses as a percentage of total revenues during the third quarter.” Shares of Hovnanian Enterprises, Inc. are trading 1.25% lower today.

Warner Chilcott PLC (NYSE:WCRX):  Branded drug maker Warner Chilcott PLC communicated about their pending stock sales by the following private equity owners: Bain Capital Partners, J.P. Morgan Partners and Thomas H. Lee Partners, as well as members of their senior management. In total, the group of shareholders will sell 42.9 million shares, boosting Warner Chilcott’s public float by roughly 25%. Shares slid 10.15% to $12.75.

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Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

 

OCZ Technology CUTS Revenue Forecast and 4 Hot Stocks in Action

Office Depot Inc (NYSE:ODP): Because the overall retail sector turned lower on Wednesday, a number of retail stocks bucked the trend. Office Depot Inc. saw a 5 percent increase. Shares of Office Depot Inc are trading 2.08% lower today.

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American Realty Capital Trust Inc (NASDAQ:ARCT) along with Realty Income (NYSE:O) announced that they have signed a definitive agreement beneath which Realty Income is to acquire all of the outstanding shares of American Realty Capital Trust in a transaction worth about $2.95 billion. The board of directors of both companies unanimously approved the agreement, and after a shareholder vote by both companies, the transaction should close during Q4 or early in 1Q13. The acquisition is to be financed by Realty Income directly issuing $1.9 billion of its common stock to American Realty Capital Trust shareholders, the assumption of about $526 million of debt, and the immediate repayment of nearly $574 million of outstanding debt and transaction expenses. Beneath the terms of the agreement, American Realty Capital Trust shareholders are to receive a fixed exchange ratio of 0.2874 Realty Income shares for each share of American Realty Capital Trust common stock that they own. Based on Realty Income’s closing stock price of $42.48 as of September 5, 2012, this consideration would be equivalent to $12.21 per share. Shares of American Realty Capital Trust Inc are trading 2.30% higher today.

OCZ Technology Group Inc. (NASDAQ:OCZ) lowered its fiscal Q2 revenue forecast, pointing to constraints in the supply of NAND flash memory, which is used in solid-state drives. Shares saw a drop of 24 percent to $4.05 premaurket. Shares of OCZ Technology Group Inc. are trading 17.35% lower today.

HollyFrontier Corp (NYSE:HFC): The annualized dividend that was paid by HollyFrontier Corp. is $0.60 per share, currently paid in quarterly installments, and its newest dividend ex-date was on 09/06/2012. Shares of HollyFrontier Corp are trading 2.23% higher today.

VeriFone Systems Inc (NYSE:PAY) fiscal Q3 income increased 43 percent as the electronic-payments company’s revenue strengthened, led by its services business. However, shares fell 11 percent to $31.50 premarket following the company’s predicted weak Q4 revenue. Shares of VeriFone Systems Inc are trading 11.64% lower today.

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Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

 

Apple Eyes NEW Kindle and 4 Hot Stocks Buzzing Now

Apple Inc. (NASDAQ:AAPL): Amazon (NASDAQ:AMZN) is currently preparing an updated Kindle Fire tablet, as it wishes to revive demand for the device while the market continues to crowd with competing machines from Apple, Microsoft (NASDAQ:MSFT), and Google (NASDAQ:GOOG). Shares of Apple Inc. are trading 0.89% higher today.

Bank of America Corporation (NYSE:BAC): New regulations on derivatives, including a requirement for banks to become registered swap dealers, will not begin until January at the soonest, The New York times reported yesterday, citing a statement by a spokesman for Commodity Futures Trading Commission Chairman Gary Gensler. Shares of Bank of America Corporation are trading 4.53% higher today.

Alexandria Real Estate Equities Inc. (NYSE:ARE): “Niles Creative Group were sought out by Alexandria Real Estate Equities, Inc to design a colossal kinetic art display that creates a spectacular and unexpected visual experience in the guest lobby,” stated David Niles. “We designed the content delivery system and its respective technology to mirror the innovation in science and talent that the center provides.” Shares of Alexandria Real Estate Equities Inc. are trading 0.48% higher today.

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Toyota Motor Corporation (NYSE:TM) executive VP Atsushi Niimi claims that the automaker is considering doubling car sales in China to 1.8 million by 2015, Reuters reports. The company sold nearly 900,000 cars in China last year. Shares of Toyota Motor Corporation are trading 2.29% higher today.

AT&T (NYSE:T) is putting together a minimum of 24 deals worth nearly $2.6 billion for airwaves to catch up with Verizon Wireless (VZ, VOD), which jumped ahead in the race for stockpiling the industry’s most precious asset, according to Bloomberg.

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

Market Recap: ECB Juices Stocks, Bezos WOWS Techies, VeriFone Collapses

Markets closed up on Wall Street today: Dow +1.76%, S&P +1.93%, Nasdaq +2.03%, Oil -0.41%, Gold +0.57%.

On the commodities front, Oil (NYSE:USO) declined to $94.96 a barrel. Precious metals rose, with Gold (NYSE:GLD) rising to $1,704 an ounce while Silver (NYSE:SLV) increased 0.38% to settle at $32.65.

Here’s your Cheat Sheet to today’s top stock stories:

A month after winning its high-profile patent dispute against Samsung in the U.S., Apple (NASDAQ:AAPL) is now targeting its big rival in the latter’s home nation. Apple has accused Samsung of abusing its position as a market leader of third-generation wireless technology and has asked the South Korean antitrust regulator to investigate the issue. An official at the Fair Trade Commission said Apple filed the complaint earlier this year. This particular battle may result in sanctions on Samsung, according to The Wall Street Journal.

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Twitter is thrashing Facebook (NASDAQ:FB) when it comes to selling advertisements on mobile devices, according to a new study published on Thursday, with Internet radio Pandora(NYSE:P) also among the top performers. According to the eMarketer report, Twitter is expected to gross $129.7 million in U.S. mobile ad sales this year against Facebook’s $72.7 million.

Navistar International Corp. (NYSE:NAV) shares jumped almost 18 percent. The company reported fiscal third-quarter results. They came in lower than the previous year but still exceeded expectations. Navistar announced a restructuring plan it hopes will slash costs  by $150 million to $175 million year-over-year beginning in 2013.

Owens-Illinois Inc. (NYSE:OI) shares rose 8 percent. The company had recently been taken to court for possible asbestos hazards, but has been vacated of the charges for the Aug. 31 jury trial.

Amazon (NASDAQ:AMZN) had some big news: The Paperwhite is a backlit e-reader, which is thinner and higher-res than its predecessor. The Paperwhite does not support audio, which is a factor in the $119 Wi-Fi enabled price tag, or $179 for 3G. Amazon also cut the price of its ad-supported Kindle to just $69. We mentioned earlier that if Amazon wanted to keep Kindle in the tablet fight, it would need a $150 device. Well, the new  Kindle Fire is coming in at just $159, exactly what we expected Amazon to do to keep its edge.

VeriFone Systems Inc. (NYSE:PAY) shares fell 13 percent. The company’s fiscal third-quarter net income increased 43 percent as its  revenue got stronger thanks to its services business. Shares did decline after VeriFone also forecast a weak fourth-quarter revenue.

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