MARKET CURRENTS
real-time news and commentary for investors
MARKET CURRENTS
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Today - Tuesday, May 22
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7:16 AM Goldman Sachs reiterates its Sell rating on Campbell Soup (CPB) after the company recorded a "low quality" earnings beat in FQ3. Analysts with the firm see the core U.S. soup segment as a major issue, with price increases at risk of driving down sales. Comment!
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7:10 AM Comcast (CMCSA) launches Xfinity TV on its X1 next-generation cloud-enabled TV platform. The company says the service - available soon for HD/DVR customers - will use cloud servers to integrate customized apps, social media, and traditional video services - all controlled by an iPhone or iPod touch if desired. 1 Comment
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7:02 AM United Airlines (UAL) plans to add daily nonstop service to Tokyo from Denver International Airport - the first carrier to fly direct to Asia out of Denver. The move continues an industry trend of unprofitable European routes getting trimmed in favor of new Asian routes. Comment!
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6:57 AM Guess? (GES) delivers a parting shot against Gucci over a three-year lawsuit that ended up with a small award of $2.5M against it over licensing issues, saying the whole affair could have been settled with a single letter or phone call. The suit asked for damages of over $100M, tripled, on the premise that Gucci's designs were intentionally copied by Guess? to boost sales. Comment!
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6:25 AM Piper backtracks on a recent upgrade of Lowe's (LOW) after yesterday's guidance blunder, shuffling LOW to Neutral from Overweight, and reducing price-target to $28 from $41. "We still expect home remodeling growth to run above GDP growth for 2012-3, but no longer believe LOW is fully participating in the remodeling cycle," firm says. Shares -10% Monday to $25.60. 1 Comment
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