Whirlpool (WHR) CEO Jeff Fettig cheered strong U.S. demand for appliances, despite challenges overseas, in an interview with Barron’s after the company’s second quarter earnings report on Friday. The company posted operating profits of $3.50 per share in the second quarter, against expectations of $3.36, and raised the bottom end of its 2016 earnings guidance.
Associated Press
“In the first half of the year we’re completely on track,” Fettig said, noting that profits hit a record. “That gives us full confidence for the full-year forecast.”
North American margins rose to 12.3%, the company’s best result ever. And while unit shipment growth decelerated in the U.S., the company says it’s on track for 5 to 6% unit volume growth for the year. Growth in home sales and remodeling has helped the company, though Fettig expects consumer confidence could “be subdued during the political season.”
top best stocks: Newcastle Investment Corporation(NCT)
Advisors’ Opinion:
- [By Jim Robertson]
Today, our Under the Radar Moversnewsletter suggested shortingsmall cap debt and golf course REITNewcastle Investment Corp (NYSE: NCT):
this isn’t apt to become a huge winner, but it’s a high-odds winner.
- [By Lee Jackson]
Newcastle Investment Corp. (NYSE: NCT) also had a director buying shares this past week. Wesley Edens picked up1 million shares of the stock at a price of $4.37. The total for the trade was posted at $4,370,000. The consensus price target for the stock is $4.50.The company invests in and manages real estate related and other investments. Its stock ended the weekat $4.31.
top best stocks: Radiant Logistics, Inc.(RLGT)
Advisors’ Opinion:
- [By Monica Gerson]
Some of the stocks that may grab investor focus today are:
United Natural Foods, Inc. (NASDAQ: UNFI) reported better-than-expected earnings for its fourth quarter on Monday. United Natural Foods shares gained 1.51 percent to $42.45 in the after-hours trading session.
Wall Street expects Radiant Logistics Inc (NYSE: RLGT) to post quarterly earnings at $0.03 per share on revenue of $202.06 million after the closing bell. Radiant Logistics shares rose 3.68 percent to close at $3.10 on Monday.
Anadarko Petroleum Corporation (NYSE: APC) announced the acquisition of Freeport-McMoRan Inc (NYSE: FCX)’s deepwater Gulf of Mexico assets for $2 billion. The company also reported an offering of 35.25 million shares of common stock. Anadarko Petroleum shares dropped 2.92 percent to $56.10 in the after-hours trading session.
Find out what's going on in today's market and bring any questions you have to Benzinga's PreMarket Prep.
- [By Lisa Levin]
Wednesday afternoon, the cyclical consumer goods & services sector proved to be a source of strength for the market. Leading the sector was strength from Lithia Motors Inc (NYSE: LAD) and Radiant Logistics Inc (NYSE: RLGT).
top best stocks: HTC CORPORATION (HTCXF)
Advisors’ Opinion:
- [By David Kretzmann]
I expect a lot of talk this week about virtual reality (VR) and augmented reality (AR) — relatively new computing platforms that carry the potential to transform how people interact with technology. At present, there is no clear winner yet with either of these emerging platforms. Facebook (NASDAQ:FB)has Oculus, and Google is doing its part with Daydream. Another key player in the virtual reality landscape is HTC(NASDAQOTH:HTCXF) Vive, which recently hosted an event showcasing the company’s latest developments in VR.
top best stocks: WPP plc(WPPGY)
Advisors’ Opinion:
- [By WWW.THESTREET.COM]
WPP plc (WPPGY) — Most of WPP’s public websites were rendered inaccessible after the world’s biggest advertising group said its IT systems were the focus of a suspected cyberattack. Shares traded down almost 1% in early afternoon.
