2012 Stock Predictions and Outlook
|Your one-stop shop for 2012 stock recommendations and market predictions. |
November crude oil futures closed down 2 cents at $92.10 a barrel. December gold futures settled down $8.30 at $1,744.70 an ounce. The benchmark 10-year Treasury dipped 3/32, raising the yield to 1.834%. The greenback rose 0.37%, according to the dollar index. In corporate news, Morgan Stanley ( MS) beat estimates for the third quarter, helped by higher fixed income trading revenue. The stock fell 3.8%. Shares of Philip Morris International ( PM) lost 4.2% after the tobacco company reported lower-than-expected third-quarter earnings and sales, and provided a disappointing full-year profit outlook. Southwest Airlines ( LUV) swung to a profit in the third quarter from a year-earlier loss and topped earnings estimates. Revenue was little changed as average ticket prices fell amid lower demand last month. The stock edged up 0.34%. Shares of eBay ( EBAY) jumped more than 5% after the online auctioneer missed on the top line in its latest quarter and gave a mixed fourth-quarter outlook. The company did beat earnings per share estimates by a penny, and several brokerages raised their price target on the stock on Thursday. Mellanox Technologies ( MLNX) was a big loser after the company gave weak revenue guidance, saying it expects revenue between $145 and $150 million, well below the consensus estimate of $157 million. Shares plunged 20.5%. Online movie services company Netflix ( NFLX) announced that it has launched in Sweden, Denmark, Norway and Finland. The stock dipped less than 2%. Sprint Nextel ( S) revealed it's adding to its stake in Clearwire ( CLWR) by buying out the founder of the troubled wireless network operator. Clearwire shares tumbled 10.2% and Sprint shares climbed 0.87%.
--Written by Andrea Tse and Joe Deaux in New York. >To contact the writer of this article, click here: Andrea Tse.