Goldman Sach's upgrade of Netflix Shares today is suspect, following a 40% rise in share price over just two months.
AutoZone reports a profit of $8.46 a share for the third quarter, beating analysts' estimates by 2 cents, according to Thomson Reuters. Revenue rises more than 6% to $2.34 billion, in line with expectations. The quarter included the launch of 30 new stores in the U.S. and seven new stores in Mexico. President and CEO Bill Rhodes calls the period the company's 31st consecutive quarter of double-digit earnings per share growth. In a note following the results, Oppenheimer research analysts call AutoZone 'one of the best run and most capital-disciplined chains in Retail.' Oppenheimer has a Perform rating on the stock with a $540 price target.
Office supplies retailer Staples reported disappointing first-quarter results on Tuesday and forecast a decline in sales in the current quarter. Excluding items, Staples posted earnings of $0.18 a share for the first three months of the year, missing analyst estimates by $0.03, according to Thomson Reuters. Sales fell almost 3% to $5.65 billion. The company said sales growth was weighed down by a stronger U.S. dollar and store closures. Oppenheimer equity research has a Perform rating on the stock, noting, "We are encouraged with Staples' turnaround efforts, but remain concerned that a strategic repositioning at the chain is simply occurring 'too late.'"
Bad weather weighed on Macy's sales in the first quarter, but the retailer's profit still manages to narrowly beat analysts' expectations. Despite a 1.7% drop in quarterly sales, CEO Terry Lundgren says soft business trends improved in April as the weather warmed, which the company sees as a positive sign for the second quarter. Bank of America Merrill Lynch analyst Lorraine Hutchinson reiterates her 'buy' rating on the stock, as she believes the company is poised for continued growth in 2014, driven chiefly by the company's three-pronged M.O.M. business strategy. Macy's also raises its dividend and increases its share buyback program by $1.5 billion.
Shares of Time Warner are climbing on Thursday after the company reports better-than-expected quarterly results, boosted by box office and small screen success. The company sees a 14% revenue jump at its Warner Bros. segment, which was helped by the box office success of 'The Lego Movie' and 'The Hobbit: The Desolation of Smaug, among other titles. Results are also aided by a 9% revenue increase at its pay-TV channel HBO, which features the popular 'Game of Thrones' series.
Shares of eBay are slipping on Wednesday after the online marketplace reports a first-quarter loss of $2.3 billion tied to a tax charge on foreign earnings and issues a weaker-than-expected profit outlook for the second quarter. eBay still manages to report first-quarter profit that beat Wall Street expectations and revenue that climbed 14% from last year. The company's results are boosted by its PayPal unit, where revenue grew to $1.8 billion and 16% more new active accounts were added.
Online restaurant takeout service GrubHub receives its first analyst initiations on Thursday. Firms including Citigroup and Canaccord Genuity initiate coverage with buy ratings and $40 price targets. William Blair and BMO Capital Markets initiate coverage with Outperform ratings, with BMO issuing a $40 price target as well. BMO Capital Markets cites GrubHub's attractive business model, the increase in mobile interactions, its industry leadership and revenue growth potential as catalysts.
The technology sector is going to experience a major power shift, with some of the most powerful tech companies right now becoming second-tier players, according to some metrics.
A year ago 17 of the 24 regional banks in the banking index had buy or strong buy ratings. This year begins with all 24 sporting hold ratings.
Great Northern Iron Ore Properties (NYSE:GNI) has been downgraded by TheStreet Ratings from a buy to sell.
Here are today's top research calls.
The latest ratings changes by TheStreet Ratings include Groupon and Cablevision, which were both lowered to sell from hold.
TheStreet Ratings released rating changes on 34 U.S. common stocks for week ending January 11, 2013. 30 stocks were upgraded and four stocks were downgraded by our stock model.
TheStreet Ratings released rating changes on 50 U.S. common stocks for week ending December 7, 2012. 20 stocks were upgraded and 30 stocks were downgraded by our stock model.
TheStreet Ratings issues a report identifying 50 "Buy" rated technology stocks to consider heading into the new year.
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