This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Stocks to Watch: Deere, Target, J.C. Penney (Update 1)

Stocks in this article: ANFDESPLSTGTJCPGE

NEW YORK --

Deere (DE), the farm machinery manufacturer, reported second-quarter earnings of $1.06 billion, or $2.61 a share, up from year-earlier profit of $904.3 million, or $2.12 a share.

Analysts, on average, expected earnings of $2.53 a share.

Deere also raised earnings guidance for the year to $3.35 billion.

Shares of Deere rose 1.15% in premarket trading Wednesday to $77.50.

The Difference Between You and JPM


Target (TGT) reported Wednesday first-quarter net earnings of $697 million, or $1.04 a share, up from $689 million, or 99 cents a share, a year earlier.

First-quarter adjusted earnings were $1.11 a share.

Analysts, on average, anticipated Target would post a profit of $1.01 a share on revenue of $16.86 billion.

Target said earlier this month that same-store sales rose 5.3% in the first quarter, its strongest quarterly performance in more than six years.

Shares of Target rose 2.58% in premarket trading Wednesday to $56.50.

Wells Fargo Is the Cheapest, Safest Bank


J.C. Penney (JCP) reported a wider-than-expected quarterly adjusted loss of $55 million, or 25 cents a share, and said it was discontinuing its dividend.

J.C. Penney expects to have additional restructuring charges in 2012 so it dropped its outlook for GAAP earnings of $1.59 a share for the year. Eliminating the quarterly dividend of 20 cents a share is expected to save J.C. Penney $175 million annually.

Shares J.C. Penney dropped 13.54% to $28.81 in premarket trading Wednesday.

The Cheapskate's Guide to Trading from Anywhere


Staples (SPLS), the office products retailer, reported Wednesday first-quarter net income of $187.1 million, or 27 cents a share, down from year-earlier earnings of $198.2 million, or 28 cents.

The first quarter included $28 million in pretax expenses, or 3 cents a share, related to staff reductions and a contractual dispute from the acquisition of Corporate Express.

On average, analysts expected the company to earn 30 cents a share in the first quarter on sales of $6.18 billion.

Shares of Staples fell 4.07% in premarket trading Wednesday to $14.15.


Teen retailer Abercrombie & Fitch (ANF) reported Wednesday quarterly net income of $3 million, or 3 cents a share, down from year-earlier earnings of $25.1 million, or 28 cents.

The company was forecast by analysts to post first-quarter profit of 2 cents a share.

Shares of Abercrombie & Fitch fell 7.14% in premarket trading Wednesday to $42.16.


General Electric (GE) said on Tuesday that it is acquiring a pair of underground mining equipment companies.

Shares of GE rose 2.45% in premarket trading Wednesday to $18.85.

-- Written by Joseph Woelfel



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

>To submit a news tip, send an email to: tips@thestreet.com.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,805.41 +127.51 0.76%
S&P 500 1,964.58 +13.76 0.71%
NASDAQ 4,483.7150 +30.9230 0.69%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs