U.S. Hot Stocks: Hot Stocks to Watch
April 22 2016 - 8:59AM
Dow Jones News
Among the companies with shares expected to trade actively in
Friday's session are Google parent Alphabet Inc., McDonald's Corp.,
AutoNation Inc. and Boston Beer Co.
Alphabet said profit rose 20% in the first three months of the
year, but the results fell short of analyst estimates as higher
losses from the company's investments in new projects and the
stronger U.S. dollar offset higher advertising.
Microsoft Corp.'s profit fell 25% in the third quarter, as the
company reported lower operating results across several of its
business lines.
McDonald's reported a jump in first-quarter profit that easily
topped expectations as all-day breakfast continued to attract
customers--more evidence that the company's turnaround efforts are
paying off.
General Electric Co. reported growth in revenue and core
earnings for its first quarter, though profit in its industrials
business slid on declines in its transportation, power and
oil-and-gas segments.
Caterpillar Inc. pared its earnings and revenue forecasts for
the year as demand for its construction and mining equipment
remained sluggish through the first quarter, with little sign of
challenges easing this year.
Honeywell International Inc. reported better-than-expected
revenue and earnings in the first quarter, boosted in part by
strength in China.
Starbucks Corp.'s second-quarter profit rose 16% as the coffee
chain drew in more mobile users in the U.S.. Still, sales missed
Wall Street views.
Visa Inc. lowered its forecast for the year, warning it sees
weakness in China, Brazil and oil-based economies.
Advanced Micro Devices Inc. has reached a deal to allow a new
joint venture in China to produce chips in that country using
proprietary technology long considered the crown jewel of AMD and
its rival Intel Corp. AMD also released first-quarter financial
results, which were slightly better than expected.
American Airlines Group Inc. said its profits continued to
benefit from lower fuel prices, but revenue was hurt by weakness in
Latin America.
AutoNation, the largest operator of automotive dealerships in
the U.S., reported a 14% drop in its first-quarter profit as a
slight uptick in incentives and costs associated with hail damage
weighed on results.
Biogen Inc.'s first-quarter profit rose 18% thanks to higher
sales of multiple-sclerosis drug Tecfidera and lower expenses.
Boston Beer Co. said its earnings were nearly cut in half in the
first three months of the year as the maker of Samuel Adams Boston
Lager faces increased competition from brewers of craft beers.
Boyd Gaming Corp. is buying Aliante casino, hotel and spa in
North Las Vegas for $380 million. Lenders took over the casino,
then known as the Aliante Station, in 2011 as part of Station
Casino's bankruptcy reorganization.
Concordia Healthcare Corp. said it has formed a special
committee to assess "various strategic alternatives" for the
company. The Canadian pharmaceutical company issued the statement
after regulators halted the stock following a report by Bloomberg
that Blackstone Group is in early-stage buyout talks.
Hanesbrands Inc.'s first-quarter profit rose sharply, bolstered
by higher sales and operational savings from a series of
acquisitions.
Kimberly-Clark Corp. reported lower first-quarter sales as the
maker of Kleenex tissues and Huggies diapers took another currency
hit, but profit rose thanks to cost savings and a lower tax
rate.
Norfolk Southern Corp. reported a better-than-expected 25%
profit increase in the first quarter, less than two weeks after
Canadian Pacific Railway Ltd. abandoned its nearly $30 billion
pursuit of the rail transportation company.
Schlumberger Ltd., the largest oil-field services outfit, laid
off another 2,000 employees during the first three months of the
year, as quarterly profit dropped 49% on significantly lower
sales.
Sears Holdings Corp. will close another 78 U.S. stores as it
tries to return to profitability after five consecutive years of
losses. The Illinois-based retailer, which had already flagged 50
stores for closing in a push to cut up to $650 million in expenses,
on Thursday said it would close 68 Kmart stores and 10 Sears
stores, with most of those stores slated to close in late July.
Skechers USA Inc. reported better-than-expected results for its
fiscal first quarter with revenue increasing 27%, in part due to
growth in its international wholesale business.
Write to Maria Armental at maria.armental@wsj.com and George
Stahl at george.stahl@wsj.com
(END) Dow Jones Newswires
April 22, 2016 09:44 ET (13:44 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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