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: Costco, Molycorp, Joy Global (Update 1)

Stocks in this article: COSTSCHKMCPFBJOYGCLWRINTCCMCSA

NEW YORK -- Costco Wholesale (COST), 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) 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) 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: tips@thestreet.com.

Copyright 2012 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.

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