1. Bank earnings galore: On Thursday, JPMorgan Chase, Wells Fargo and Citigroup will report their first quarter earnings.
JPMorgan’s (JPM) fourth quarter profits, reported in January, were better than expected. CEO Jamie Dimon said at the time that his general outlook was rosy. This week, Dimon appeared even more optimistic in his annual letter to shareholders, where he bragged about his bank’s monster balance sheet.
Wells Fargo (WFC), on the other hand, is still feeling the effects of its fake accounts debacle. The Department of Labor this week ordered Wells Fargo to rehire a whistleblower it fired in 2010 and pay him $5.4 billion in lost wages. But Wells Fargo’s $110 million settlement with wronged customers might help it move away from the scandal, and some analysts say rising interest rates mean both Wells Fargo and Citigroup will exceed expectations.
Still, it’s been a rocky ride for bank stocks, which soared after Donald Trump was elected but have slumped since then.
Top 10 Bank Stocks To Invest In 2018: The Middleby Corporation(MIDD)
Advisors’ Opinion:
- [By Monica Gerson]
Middleby Corp (NASDAQ: MIDD) is expected to post its quarterly earnings at $0.84 per share on revenue of $515.56 million.
Jack in the Box Inc. (NASDAQ: JACK) is estimated to post its quarterly earnings at $0.70 per share on revenue of $360.22 million.
Top 10 Bank Stocks To Invest In 2018: MEI Pharma, Inc.(MEIP)
Advisors’ Opinion:
- [By Chris Lange]
MEI Pharma, Inc. (NASDAQ: MEIP) saw its shares make a solid gain on Thursday after the company received a crucial upgrade from Oppenheimer. Most analysts only issue price targets that are within a range of 5% to 25% for stocks, but this upgrade absolutely blows these small calls out of the water.
Top 10 Bank Stocks To Invest In 2018: Newmont Mining Corporation(NEM)
Advisors’ Opinion:
- [By Sara Cornell]
The management team member who garners the most attention right now is Dave Mathewson, VP, Head of Exploration. Dave is a geologist with more than 35 years’ experience in the gold exploration space, and specifically, in Nevada. He is credited with a number of notable discoveries for Newmont Mining Corp (NYSE: NEM), and later went on to Gold Standard Ventures Corp (NYSE: GSV) helping take that company from a start-up to a now $481 million market cap.
- [By Joel Elconin]
December gold futures have taken the SPDR Gold Trust (ETF) (NYSE: GLD) along for the ride; the ETF is trading higher by $1.74 at $124.48. That puts the ETF in the area it was the same day gold peaked during the Nov. 4 session, at $124.40, and well above the close from that day of $124.04. Also, Newmont Mining Corp (NYSE: NEM) shares were seen trading higher by $1.15 at $38.14 Monday. Earlier in the session, shares peaked at $38.91, just shy of its Oct. 3 high of $39.33.
- [By Ben Levisohn]
Newmont Mining (NEM) soared to the top of the S&P 500 today after gold prices rose, lifting the entire gold mining sector.
Agence France-Presse/Getty Images
Newmont Mininggained 7.6% to $35.27 today, while the S&P 500 was little changed at 2,249.26. Front Month Comex Gold for January delivery gained 1.5% to $1156.40 today, while the VanEck Vectors Gold Miners ETF (GDX) climbed 7.8% to $21.82.
Standpoint Research’s Ronnie Moas upgraded Newmont Mining to Buy from Hold today.
Newmont Mining’s market capitalization rose to $18.7 billion today from $17.4 billion yesterday. It reported net income of $193 million on sales of $7.7 billion in 2015.
Top 10 Bank Stocks To Invest In 2018: Brady Corporation(BRC)
Advisors’ Opinion:
- [By Shauna O’Brien]
Robert Baird announced on Friday that it has cut its rating on Brady Corp (BRC).
The firm has downgraded BRC from “Outperform” to “Neutral,” and has given the company a $33 price target. This price target suggests a 8% upside from the stock’s current price of $30.52.
Analysts see the company’s WPS segment growing faster than expected.
Brady shares were mostly flat during pre-market trading Friday. The stock is down 9% YTD.
- [By Mike Deane]
For the 28th year in a row, Brady Corp (BRC) has increased its dividend payout to investors.
The Milwaukee, WI-based company increased its quarterly dividend to 19.5 cents from 19 cents, an increase of 2.6%. The annual dividend now stands at 78 cents. The quarterly dividend will be paid on October 31st, 2013 to all shareholders of record on October 10, 2013.
BRC shares were down 40 cents, or 1.23%, by market close on Wednesday. YTD, the company’s stock is down over 4%.
- [By Michael Flannelly]
Before the opening bell on Thursday, identification solutions provider Brady Corp (BRC) posted a loss in the fourth quarter, despite a rise in revenues, as it was negatively impacted by a number of charges. However, excluding these charges, the company was able to top Wall Street analysts’ earnings and sales estimates. Nonetheless, BRC shares are plummeting in Thursday’s trading.
The Milwaukee, Wisconsin-based company posted a loss from continuing operations of $176.2 million, or $3.41 per share, in the fourth quarter, versus last year’s fourth quarter earnings from continuing operations of $20.9 million, or 40 cents per share. Furthermore, Brady posted a net loss of $177.2 million, or $3.43 per share, compared to net earnings of $11.6 million, or 22 cents per share, in the same period a year ago.
The fourth quarter loss includes non-cash impairment charges of $204.4 million, $15.6 million in restructuring charges, and $4 million in acquisition-related charges. Excluding these charges, Brady Corp said earnings would have been 53 cents per share in the quarter. According to analysts polled by Thomson Reuters, the company was expected to earn an adjusted 51 cents per share in the fourth quarter.
The company’s fourth quarter sales came in at $309.1 million, up 15% from $269.1 million in sales posted last year. On average, analysts were expecting the company to see $307.13 million in revenues for the quarter.
Looking ahead, Brady Corp. sees fiscal 2014 earnings coming in between $1.80 and $2.00 per share, below the analysts’ view of $2.30 per share.
Brady Corp shares were down $1.71, or 5.25%, during early morning trading on Thursday. The stock is up 7.93% year-to-date.
Top 10 Bank Stocks To Invest In 2018: Citrix Systems Inc.(CTXS)
Advisors’ Opinion:
- [By Jim Robertson]
At the beginning of the month, LogMeIn announced the completion of its merger with Citrix Systems, Inc (NASDAQ: CTXS) GetGo, Inc subsidiary.
In late October, LogMeIn reported 22% third quarter revenue growth to $85.1 million and GAAP net loss was $0.7 million compared to a GAAP net income of $5.6 million. LogMeIn will report its fourth quarter and fiscal year 2016 financial results for the period ended December 31, 2016 following the close of market on February 28.
- [By Chris Lange]
The stock posting the largest daily percentage gain in the S&P 500 ahead of the close Monday was Citrix Systems, Inc. (NASDAQ: CTXS) which jumped 6.8% to $84.93. The stocks 52-week range is $59.72 to $87.99. Volume was 5.19 million which is well above the daily average of around 2.09 million shares.
- [By Ben Levisohn]
Citrix Systems (CTXS)soared nearly to the top of the S&P 500 today afterreports it had hired Goldman Sachs (GS) to pursue a sale of the company.
S. MARTIN/AFP/Getty Images
Citrix Systemsgained 6.8% to $84.93 today, while the S&P 500 finished little changed at 2,373.47.
Business Insider’s Matt Weinbergerhas the details:
Citrix, the $13 billion tech company best known for software like GoToMeeting, is working with Goldman Sachs to negotiate a possible sale, reports Bloomberg, citing anonymous sources.
This isn’t the first time that Citrix has shopped itself around: in late 2015, and under pressure from activist shareholder Elliott Management, Citrix was said to have unsuccessfully tried to find a buyer.
Citrix Systems market cap rose t0 $13.3 billion today from $12.4 billion on Friday. It reported net income of $536 million on sales of $3.4 billion in 2016.
- [By Ben Levisohn]
Wynn Resortsgained 4.8% to $104.30 today, while the S&P 500 finished little changed at2,373.47. At 2:45, Wynn was easily the top performing stock in the S&P 500, only to be surpassed by Citrix’s (CTXS) late day surge.
Top 10 Bank Stocks To Invest In 2018: Mastercard Incorporated(MA)
Advisors’ Opinion:
- [By Mitchell Clark]
This is a stock to own for the long term. It has an excellent long-term track record. Management just announced another dividend increase and more share repurchases.
Earnings growth in 2016 is expected to accelerate over the performance in 2015. The big credit card brands are institutional favorites.
MasterCard Incorporated’s (NYSE:MA) sales and earnings growth have been quite consistent over the years.
- [By Ashley Moore]
But before we get to the stock pick, here’s a list of the 10 top-performing Warren Buffett stocks so far this year…
Company YTD Gains
Moody’s Corp. (NYSE: MCO) 34.25%
Apple Inc. (Nasdaq: AAPL) 30.24%
Verisign Inc. (Nasdaq: VRSN) 29.88%
Restaurant Brands Inc. (NYSE: QSR) 29.16%
WABCO Holdings Inc. (NYSE: WBC) 28.97%
Visa Inc. (NYSE: V) 26.20%
Liberty Sirius XM Group Class C (Nasdaq: LSXMK) 24.54%
MasterCard Inc. (NYSE: MA) 24.35%
Liberty Sirius XM Group Class A (Nasdaq: LSXMA) 22.89%
Sirius XM Holdings Inc. (Nasdaq: SIRI) 22.81%
Again, we don’t recommend all of the stocks above for retail investors. After all, Warren Buffett is one of the most wealthy and legendary investors in history. He has a completely different set of goals from us.
- [By John Ballard]
Partnerships play a crucial role in extending PayPal’s reach to new customers and driving higher engagement. The deal with Visa(NYSE:V) opened the door for partnerships with Mastercard(NYSE:MA), Citigroup(NYSE:C), and Fidelity National Information Services (NYSE:FIS). As a result, more deals will come that will increase PayPal’s relevancy and ubiquity in the mobile payment landscape.
- [By Matthew Cochrane]
With this mindset, it is no wonder that PayPal finished 2016 on a wave of deal-making momentum. In the past 12 months, PayPal completed agreements with a number of financial and tech companies including Alibaba Group Holding Ltd (NYSE: BABA), Citigroup Inc (NYSE: C), Facebook Inc (NASDAQ: FB), Mastercard Inc (NYSE: MA), Visa Inc (NYSE: V), and Vodafone Group Plc (NASDAQ: VOD).
Top 10 Bank Stocks To Invest In 2018: Ebix, Inc.(EBIX)
Advisors’ Opinion:
- [By Peter Graham]
Small cap insurance software stock Ebix Inc (NASDAQ: EBIX) reported Q1 2017 earnings before the market opened this morning. Q1 revenue rose 11% to $79.1 million and decreased 1% over Q4 2016 revenue of $80.0 million. The year over year revenue improvement reflected growth in the Companys Exchange, Risk Compliance, and Broker Solution channels. On a constant currency basis, Q1 revenue increased 10% to $78.5 millionwith theExchange channel continued to bethe Companyslargest -accounting for 67% of Q1 2017 revenues. Q1 2017 net income rose 19% to $26.4 million with the improvement principally reflected the benefit of higher revenues and operating income as compared to the same period last year.
Top 10 Bank Stocks To Invest In 2018: Aerohive Networks, Inc.(HIVE)
Advisors’ Opinion:
- [By Lisa Levin]
Shares of Aerohive Networks Inc (NYSE: HIVE) were down 33 percent to $3.10. Aerohive Networks reported a Q2 loss of $3.9 million on revenue of $42.3 million, and disclosed that it has extended its $10 million buyback plan.
- [By Monica Gerson]
Some of the stocks that may grab investor focus today are:
Wall Street expects Citigroup Inc (NYSE: C) to report quarterly earnings at $1.16 per share on revenue of $17.34 billion before the opening bell. Citigroup shares rose 0.47 percent to $48.70 in after-hours trading.
HP Inc (NYSE: HPQ) disclosed that it would be implementing a restructuring plan that would likely result in the firing of 3,000 to 4,000 employees, annual savings of $200 million to $300 million, and a charge of $350 million to $500 million. Management also announced a 7 percent surge in the stock’s dividend and an additional $3 million share repurchase program. The company issued its outlook for fiscal 2017, guiding for EPS of $1.55 to $1.65, mostly below the Street’s consensus of $1.64. HP shares fell 1.32 percent to $14.95 in the after-hours trading session.
Analysts are expecting JPMorgan Chase & Co. (NYSE: JPM) to have earned $1.39 per share on revenue of $23.99 billion in the latest quarter. JPMorgan will release earnings before the markets open. JPMorgan shares gained 0.37 perecent to $67.99 in after-hours trading.
Aerohive Networks Inc (NYSE: HIVE) reported weak preliminary results for its third quarter. The company said it expects a net loss of $(0.06) to $(0.07) per share, versus consensus at $(0.04) per share. Revenue guidance of $40 million also fell short of expectations for almost $48 million. Aerohive shares dropped 18.29 percent to $4.60 in the after-hours trading session.
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Top 10 Bank Stocks To Invest In 2018: Pharmerica Corporation(PMC)
Advisors’ Opinion:
- [By Monica Gerson]
PharMerica Corporation (NYSE: PMC) is estimated to report its quarterly earnings at $0.43 per share on revenue of $509.45 million.
United States Cellular Corp (NYSE: USM) is projected to report its quarterly earnings at $0.26 per share on revenue of $975.54 million.
Top 10 Bank Stocks To Invest In 2018: RadiSys Corporation(RSYS)
Advisors’ Opinion:
- [By Lisa Levin]
RadiSys Corporation (NASDAQ: RSYS) was down, falling around 18 percent to $2.97 after the company lowered its sales forecast for the second quarter. The company now expects Q2 sales of $35 million, versus earlier outlook of $41 million to $47 million.
- [By Lisa Levin]
RadiSys Corporation (NASDAQ: RSYS) was down, falling around 18 percent to $2.95 after the company lowered its sales forecast for the second quarter. The company now expects Q2 sales of $35 million, versus earlier outlook of $41 million to $47 million.
