Gap Inc. (NYSE: GPS), a global specialty apparel company, after-market close on Thursday reported its first-quarter financial results. The company’s first-quarter profit was flat. However, the San Francisco, California-based company raised its guidance for the year, sending shares higher in after-hours trading.
Continue reading Gap Shares Rise in After-Hours Trading (GPS)
At the Ira Sohn charity conference, David Einhorn revealed his longs and shorts. We were privileged to be part of the conference. Below is a quick rundown of his presentation:
1. Short Martin Marietta Materials. Says stock is overvalued and benefitted from a one-time national fiscal stimulus. Stock is down 8% after the comments.
2. Long GJF, a stock in Norway. It has a p/e of 9 and a dividend yield of 7% .
3. Social Media Stocks. He would buy Japanese social media networks which sport single digit p/e ‘s, much lower than Facebook.
4. Long Apple. Hedge funds own only 5% of Apple. They are underweight Apple compared to the S&P 500. He thinks Apple can exceed 1 trillion dollar market cap because most Apple customers want more Apple products. Apple monetizes its value through repeated, recurring sales, and should have a higher multiple. It does not have piracy problems in China as in Microsoft (there are tons of knock-offs in China. An entire Apple store clone was built in China).
Home Depot Inc. (NYSE: HD), operator of the Home Depot stores, today, reported its first-quarter financial results. The Atlanta, Georgia-based company reported weaker-than-expected first-quarter sales, sending shares down sharply in pre-market trading today.
Groupon Inc. (NASDAQ: GRPN) shares surged in after-hours trading on Monday after the Chicago-based company posted a quarterly profit. GRPN managed to post a profit for the quarter by slashing marketing spending and signing up more customers and merchants.
Continue reading Groupon Shares Surge as Company Posts Quarterly Profit (GRPN)
Chesapeake Energy Corporation (NYSE: CHK), a natural gas and oil exploration and production company, late Friday, announced that it entered into a $3 billion unsecured loan from Goldman Sachs Bank USA and affiliates of Jefferies Group Inc. The announcement has sent CHK shares sharply higher in trading today.
Continue reading Chesapeake Energy Shares Rise as Company Secures $3 Billion Loan (CHK)
Shares of Monster Worldwide Inc. (NYSE: MWW), provider of online recruiting solutions, surged on Friday after Reuters reported that the company has drawn interest from a number of potential buyers.
Continue reading Monster Worldwide Shares Surge on Acquisition Report (MWW)
NVIDIA Corporation (NASDAQ: NVDA), the Santa Clara, California-based technology company engaged in creating the graphics chips used in personal computers, today reported better-than-expected first-quarter revenue. NVDA’s outlook also beat Street expectations, sending shares sharply higher in trading today.
Continue reading NVIDIA Shares Jump on Q1 Revenue, Outlook (NVDA)
Kohl’s Corporation (NYSE: KSS), operator of family-oriented department stores, today reported a sharp decline in its first-quarter profit as its gross margin were hurt by price cuts designed to lure shoppers.
Shares of AOL Inc. (NYSE: AOL), a global web services company with a range of brands and offerings, have risen sharply in early trading today after the New York City-based company reported better-than-expected results for the first quarter of 2012. AOL’s results beat Street estimates despite weaker ad revenue in the U.S.
Continue reading AOL Shares Rise as Q1 Profit Beats Estimate (AOL)
DirecTV (NASDAQ: DTV), a provider of digital television entertainment in the U.S. and Latin America, reported an increase in its first-quarter profit and revenue. However, shares of the El Segundo, California-based company have opened lower in early trading as it added fewer-than-expected subscribers in the first quarter.