This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Stocks to Watch: Costco, Molycorp, Joy Global (Update 1)

NEW YORK -- Costco Wholesale (COST - Get Report), the warehouse retailer, said Wednesday that fiscal first-quarter profit jumped 30% as sales and membership fees rose.

Costco earned $416 million, or 95 cents a share, in the quarter, compared with $320 million, or 73 cents a share, a year earlier.

Sales in the quarter rose 9.5% to $23.2 billion; same-store sales rose 7%.

Analysts were looking for first-quarter earnings of 93 cents a share on revenue of $23.7 billion.

Costco said first-quarter revenue from membership fees rose 14.3% to $511 million.

Costco shares rose 0.2% in premarket trading Wednesday to $98.50.

Rising Dividend Stocks That Don't Care About the Fiscal Cliff

Molycorp (MCP), the rare-earth mining company, said Tuesday its president and CEO, Mark Smith, resigned.

Smith was named to lead the company in October 2008. Molycorp said it was beginning a search for a new CEO.

Molycorp was "at a natural inflection point as it transitions its focus from development to ongoing operations," said Ross Bhappu, chairman, in a statement.

Molycorp shares fell 7.6% in premarket trading Wednesday to $10.47.

Joy Global (JOY) posted fiscal fourth-quarter adjusted earnings of $2.05 a share on revenue of $1.6 billion; analysts were expecting earnings of $1.91 a share on revenue of $1.42 billion.

Joy Global said it expected lower volumes for 2013.

The stock rose 0.6% to $58.20.

5 Stocks Facing an Earnings Short Squeeze

Facebook (FB - Get Report) is to replace Infosys (INFY) on the Nasdaq-100 before trading opens Wednesday.

Facebook shares rose 0.8% to $28.20 in premarket trading.

Chesapeake Energy (CHK - Get Report) will sell most of its remaining midstream assets for $2.16 billion as it sells off assets to pay off a heavy debt load.

The buyer of the assets, which are located primarily in the Marcellus, Utica, Eagle Ford, Haynesville and Niobrara shale plays located throughout the continental U.S., is Access Midstream Partners L.P.

Chesapeake shares rose 1.5% to $17.34 in premarket trading Wednesday.

Sprint Nextel (S) is in talks with Intel (INTC) and Comcast (CMCSA) to buy out their stakes in Clearwire (CLWR), the U.S. wireless provider, Reuters reported, citing two people familiar with the matter.

Sprint owns just more than 50% in Clearwire. It would still need buy out the rest of the minority shareholders in Clearwire to gain full ownership, Reuters reported.

Intel and Comcast own on a combined basis roughly 12.4% of Clearwire's total shares outstanding.

10 Widely Held Companies Investors Bet Will Drop

-- Written by Joseph Woelfel

>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to:
Copyright 2012 Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
MCP $0.36 0.00%
COST $147.75 -2.50%
CHK $5.76 1.90%
FB $117.76 -0.25%
S $3.45 -0.58%


Chart of I:DJI
DOW 17,637.36 -13.90 -0.08%
S&P 500 2,049.02 -2.10 -0.10%
NASDAQ 4,717.8970 -7.7420 -0.16%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs