This may be a short and choppy week, but we have many bits of news for active traders and day traders this Tuesday morning. We have included news and given a summary of the moves in the following stocks this Tuesday: Bank of America Corporation (NYSE: BAC); Brocade Communications Systems Inc. (NASDAQ: BRCD); Campbell Soup Company (NYSE: CPB); Chico’s FAS, Inc. (NYSE: CHS); Focus Media Holding Ltd. (NASDAQ: FMCN); Market Vectors Egypt Index ETF (NYSE: EGPT); Harman International Industries Inc. (NYSE: HAR); Hewlett-Packard Co. (NYSE: HPQ); Jack in the Box Inc. (NASDAQ: JACK); Medtronic Inc. (NYSE: MDT); Netflix, Inc. (NASDAQ: NFLX); and Shanda Interactive Entertainment Ltd. (NASDAQ: SNDA).
Bank of America Corporation (NYSE: BAC) is actually indicated higher this morning by over 1% at $5.57 despite reports that it has been warned by regulators to bolster its financial position.
Brocade Communications Systems Inc. (NASDAQ: BRCD) may have turned in a net loss after items and options, but non-GAAP earnings were $0.16 EPS and $550 million versus estimates of $0.14 EPS and $527.4 million. Shares were up 6% last night and the $4.48 close of Monday is still up 6.7% at $4.78 on Tuesday morning.
Campbell Soup Company (NYSE: CPB) reported that normalized earnings were down nominally from a year earlier at $0.82 EPS and that sales fell 1% to $2.16 billion; estimates were $0.79 EPS on $2.2 billion in sales.
Chico’s FAS, Inc. (NYSE: CHS) reported that its third-quarter earnings was $0.16 EPS but after $0.02 in acquisition costs, while estimates were $0.20 EPS. Sales were $538.5 million versus estimates of $548.5 million. Same-store sales in the quarter rose 3.7% versus 5% or more expected and it turned in another $0.05 dividend for a 1.8% or so dividend yield.
Focus Media Holding Ltd. (NASDAQ: FMCN) was crushed yesterday with roughly a 40% drop after short seller Muddy Waters raised concerns about the company. The company has denied the allegations and said that the information provided was misrepresented. Shares are trading up 12% at $17.40 so far this morning, but this is a fluid situation and the “Muddy Waters” stocks tend to remain highly volatile for a period after a report of this sort is issued.
Market Vectors Egypt Index ETF (NYSE: EGPT) has not traded but trading on the Egyptian Exchange was halted after a 4.5% broad market drop due to continues protests and violence in Cairo after reports of dozens of deaths.
Harman International (NYSE: HAR) had its CEO featured on a Jim Cramer interview last night and Cramer said it is now getting to be a bargain at barely 10-times earnings with 20% growth possibilities. Zacks also named it the value stock of the day this morning.
Hewlett-Packard Co. (NYSE: HPQ) is now down 1% at $26.59 despite having been up almost 4% after earnings. Some wanted a better path to a return of growth but frankly the report and even the lower guidance should have been enough to quell at least some fears about the company.
Jack in the Box Inc. (NASDAQ: JACK) was up 4% in the after-hours on Monday after beating earnings estimates with higher same-store sales. Volume is very light and the stock is only indicated up 1% so far in early bird trading.
Medtronic Inc. (NYSE: MDT) has reported earnings of $0.84 EPS adjusted on $4.13 billion in sales; estimates were $0.82 EPS and $4.1 billion in sales. The medical devices giant has guided its fiscal year (April-2012) to $3.43 to $3.50 EPS versus estimates of $3.44 EPS.
Netflix, Inc. (NASDAQ: NFLX) had its secondary and placement offering announcement last night and now shares are getting hit all over again after a SELL rating was slapped on the stock. Netflix is trading down 5.2% at $70.60 in active trading.
Shanda Interactive Entertainment Ltd. (NASDAQ: SNDA) is getting acquired after receiving a “going private” letter a month ago. Monday’s ADS close in New York was $39.39 and the buyout price $41.35 per ADS.
JON C. OGG
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