October 13, 2010 by staff
European stocks posted solid gains Wednesday thanks to rising expectations the Fed will take further measures to stimulate the U.S. economy. Asian stock indexes ended higher, with Hong Kong setting a high of 28 months, while Japan saw the first rise in four sessions in the wake of upbeat data releases machinery.
BMO Capital Markets upgraded Tuesday meat producer Smithfield Foods Inc. / quotes/comstock/13 *! Sfd / quotes / nls / SFD (SFD 15.90, 0.28, 1.78%) to outperform from market perform. In a research note,anlyst Kenneth Zaslow said, “an overreaction to rising corn prices and hog prices lower temporarily created an attractive entry point.” The broker raised its price target for shares to Smithfield and 21 from and 18, implying a reduction of 30% rising to 35% of current price.
JP Morgan Chase & Co. / quotes/comstock/13 *! JPM / quotes / nls / JPM (JPM 40.38, -0.02, -0.05%) said Wednesday net income for the third quarter increased 23% to 4.42 billion, or $ 1 0, 01 per share and cons 3.59 billion, or 82 cents per share for the same period a year ago. Revenue fell to $ 23.82 billion from $ 26.62 billion, while revenue on a global basis and under management totaled $ 24.3 billion. Analysts polled by FactSet Research had forecast earnings of 90 cents per share on revenues of 24.3 billion.
Intel Corp. / quotes/comstock/15 *! Intc / quotes / nls / intc (INTC 19.70, -0.07, -0.36%) reported after Tuesday’s closing bell that it posted a third quarter profit of 2.96 billion, or 52 cents per share, compared to a profit of 1.86 billion, or 33 cents per share for the same period a year ago. Revenues increased 18% to 11.1 billion. Analysts had expected earnings of 50 cents per share on revenues of $ 11 billion.
Lockheed Martin Group / quotes/comstock/13 *! LMT / quotes / nls / LMT (LMT 71.01, 0.46, 0.64%) agreed to sell its Enterprise Integration Group unit of Veritas Capital Fund IV and 815 million, the capital of company announced Wednesday. The Enterprise Integration Group specializes in engineering and risk mitigation for the intelligence community of the United States. Veritas said Lockheed placed the union on the block in June.
Shares of Apple Inc. / quotes/comstock/15 *! AAPL / quotes / nls / AAPL (AAPL 301.43, 2.89, 0.97%) increased by about 1% ahead of the opening bell at the beginning level and 300 for the first time.
Host Hotels & Resorts Inc. / quotes/comstock/13 *! HST / quotes / nls / HST (HST 16.04, 0.23, 1.42%) recorded a net loss in the third quarter and 58 dollars, or 9 cents per share, broadly in line with its loss a year earlier and 57 dollars, or 9 cents per share. The REIT reported total revenues for the quarter increased 11.4%. Analysts polled by FactSet had expected a loss of 11 cents per share on sales of 971.2 million and. The company also said it expects full-year loss of 22 cents to 23 cents per share.
Please feel free to send if you have any questions regarding this post , you can contact on
Disclaimer: The views expressed on this site are that of the authors and not necessarily that of U.S.S.POST.