Thursday, June 24, 2010

7 Stocks To Know For Thursday: Discover Financial Services, Apple, Hasbro, BP, Barrick Gold, Cisco Systems, Nike

  • Discover Financial Services (DFS: 14.39 +0.38 +2.71%) shares are up 2.4% to $14.35 after it said Thursday it earned $184.9 million, or 33 cents per share, in the quarter ended May 31. This compares with a loss of $148.9 million, or 31 cents per share, a year ago. Earnings were reduced by 13 cents per share because it redeemed $1.2 billion of preferred stock.
  • Apple (AAPL: 269.6475 -1.3225 -0.49%) is expected to sell a record 1 million iPhone 4 today when the new version debuts. The iPhone will be on sale first in the U.S., U.K., France, Germany and Japan. Apple shares are up slightly in early trading.
  • Toymaker Hasbro (HAS: 42.94 +1.82 +4.43%) shares are up nearly 4% in early Thursday trading on takeover talks. Providence Equity Partners is in discussions to buy the company via a leveraged buyout. If this buyout goes through, it would be the largest M&A deal this year. *Update: Hasbro has now clarified that it is not in buyout talks with the private equity firm.
  • BP (BP: 29.18 -0.49 -1.65%) said Thursday it has reinstalled containment cap on the Deepwater Horizon’s blown-out well late Wednesday. The collecting oil and gas was resumed at 1900 Central Daylight Time.
  • Barrick Gold (ABX: 45.3283 +0.5883 +1.31%) was upgraded to Outperform from Neutral at Credit Suisse (CS: 38.77 -1.36 -3.39%) on higher gold price forecast. Its price target is raised to $54 from $47.
  • Cisco Systems (CSCO: 22.7299 -0.1301 -0.57%) was initiated new Buy at Kaufman Bros, with a $30 price target as the company is positioned well to benefit from industry trends. Its stock is down slightly in early trading.
  • Nike shares are down 3.5%. Its estimates are cut at UBS (UBS: 13.87 -0.18 -1.28%) through 2012, with pressure on margins rising. It has a Neutral rating and with a $77 price target.

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