IBM weighs on Dow
It was a mixed day in the market for
. The current environment will reward astute high quality stock
pickers who know how to avoid the dangerous landmines that have
weighed on the market thus far in 2014. The Dow Jones Industrial
average finished Wednesday with a small loss of 41 points.
Hurting the index was the performance from
International Business Machines (
. That technology bellwether was down more than 3%. The company
beat earnings expectations, but missed on revenue estimates. A
sales decline in hardware was the culprit and put investors in a
sour mode. Other technology stocks fared better today as the
gained nearly ½%. The
Standard & Poors 500 Index
again finished flat.
Advanced Micro Devices plunges
stock market today
delivered another earnings disappointment in the chip sector.
Last week it was
. Today it was
Advanced Micro Devices (
. The recovering chip maker reported earnings that beat estimates
by the proverbial penny per share, but revenue guidance for the
first quarter was light. Investors choose to lock in profits from
last year's impressive run. Shares fell by nearly 12% closing at
$3.67 per share. Wells Fargo increased its estimates for the
company and maintained an Outperform rating on the stock.
Brinker International gets fat on earnings
Shares of restaurant operator
Brinker International (
gained 6% today after the company reported impressive results.
Consumers are flocking to the casual dining space. With
properties like Chile's and Maggiano's, Brinker posted adjusted
profits of 59 cents per share. That beat estimates by a penny per
share. Revenues also beat expectations. The company is very
optimistic about the second half of fiscal year 2014 ending June
30, 2014. Citigroup maintained a buy rating on the stock.
Coach shares sink on poor results
On the flip side shares of luxury consumer goods company
missed earnings estimates badly and the stock sank 6% as a
result. The company made $1.06 per share versus an expectation of
$1.12. Revenues also missed the number. The big disaster for
Coach was in North America where same store sales dropped by 14%.
Stifel did not see the report as being all that bad. I'm not so
sure I would agree.
Nu Skin shares rebound on analyst
Nu Skin (NUS)
caught a break today as Deutsche Bank supported the company
saying that issues in China may be short term in nature. In
addition Deutsche sees the result of government investigation
into the company's marketing practices as being a modest fine.
They maintain a buy rating on the stock that plunged on worries
about it being a pyramid scheme. The stock is up more than 5%
today. Deutsche has a target on the stock of $115 per share.
Icahn puts pressure on Apple
had a small boost as activist investor Carl Icahn chastised
management for not doing more with respect to a buy-back of
stock. It's hard to argue with him as Apple has some $150 billion
in cash on its balance sheet. Icahn believes Apple shares would
appreciate greatly with a meaningful and aggressive share
buy-back campaign. Apple shares finished higher by ½%. Well,
that's it for this edition of the
Stock Market Today
. Check back regularly for new updates and feel free to leave a
comment or question below.
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