Markets rose slightly on Wednesday, taking the Dow and S&P 500 very close to all-time highs. The banking and energy segments were the most benefited from the recuperating oil prices, which rose more than 3.15 percent today.
The S&P 500 Index closed up 0.08 percent, with Discover Financial Services (NYSE: DFS), up 8.14 percent on its earnings, and Chesapeake Energy Corporation (NYSE: CHK), up 4.82 percent on rising oil prices, having posted the largest gains.
The Dow Jones Industrial Average gained 0.24 percent. Among the largest gainers were Goldman Sachs Group Inc (NYSE: GS) and UnitedHealth Group Inc (NYSE: UNH).
The Nasdaq 100 Index surged 0.16 percent, driven by gains at Viacom, Inc. (NASDAQ: VIAB) and Western Digital Corp (NASDAQ: WDC).
Shares of The Coca-Cola Co (NYSE: KO) lost 4.79 percent on Wednesday, after the announcement of its first quarter financial results. While EPS of $0.45 beat consensus estimates by $0.01, and revenue of $10.28 billion was in-line with expectations, shipment volumes for sodas and other products were quite weak.
Best Cheapest Companies To Buy Right Now: Intuit Inc.(INTU)
Intuit Inc. provides business and financial management solutions for small businesses, consumers, and accounting professionals primarily in the United States, Canada, the United Kingdom, Australia, India, and Singapore. The companys Small Business segment provides QuickBooks financial and business management online services and desktop software; QuickBooks technical support services; financial supplies; and QuickBooks Accountant, QuickBooks Accountant Plus, and QuickBooks Online Accountant, as well as the QuickBooks ProAdvisor Program for the accounting professionals. This segment also offers small business payroll products and services, including online payroll offerings, such as Quickbooks Online Payroll and Intuit Online Payroll; desktop payroll offerings comprising QuickBooks Basic Payroll and QuickBooks Enhanced Payroll; and full service payroll offerings, such as Intuit Full Service Payroll and QuickBooks Assisted Payr oll. In addition, it provides merchant services, including credit and debit card processing; Web-based transaction processing services for online merchants; online payment services; GoPayment mobile payment processing services; and QuickBooks point of sale solutions. Its Consumer segment provides TurboTax income tax preparation products and services; and electronic tax filing services. The companys Professional Tax segment offers Lacerte, ProSeries, ProFile, and Intuit Tax Online professional tax products and services; and electronic tax filing services, bank product transmission services, and training services. The company sells its products and services through various sales and distribution channels, including Websites, promotions, call centers, retail locations, and online mobile application stores, as well as through alliance partners, such as banks, credit unions, and other financial institutions. Intuit Inc. was founded in 1983 and is headquartered in Mountain View, California.
- [By Monica Gerson]
Intuit Inc. (NASDAQ: INTU) reported upbeat results for its third quarter and raised its FY16 guidance. Intuit shares dropped 2.15 percent to $105.00 in the after-hours trading session.
- [By Shauna O'Brien]
Morgan Stanley reported on Wednesday that it has downgraded financial management solution provider Intuit Inc. (INTU).
The firm has cut its rating on INTU to “Underweight,” and has given the company a $62 price target. This price target suggests a 6% decline from the stock’s current price of $66.30. This downgrade reflects the company’s slowing growth of its tax business.
Intuit shares were mostly flat during pre-market trading Wednesday. The stock is up 11% YTD.
- [By Alex Jordon]
A variety of acquisitions ramps up Oracle’s presence in cloud computing, like deals with RightNow, Taleo, and Eloqua. The annual run-rate of their cloud business is already over $1 billion, larger than Workday (WDAY) and SAP (SAP) combined. New customers include British Telecom (BT), BMC Software (BMC), Siemens (SI), Yahoo (YHOO), and Intuit (INTU).
Best Cheapest Companies To Buy Right Now: Isle of Capri Casinos Inc.(ISLE)
Isle of Capri Casinos, Inc., together with its subsidiaries, develops, owns, and operates gaming facilities and lodging and entertainment facilities in the United States. It owns and operates 14 casino gaming facilities located in Black Hawk, Colorado; Lake Charles, Louisiana; Lula, Biloxi, Natchez, and Vicksburg, Mississippi; Kansas City, Caruthersville, and Boonville, Missouri; Bettendorf, Davenport, Waterloo, and Marquette, Iowa; and Pompano Beach, Florida. The company?s properties feature approximately 15,000 slot machines; 370 table games, including 110 poker tables; 3,000 hotel rooms; and 40 restaurants. It also operates a harness racing track at its casino in Florida. Isle of Capri Casinos, Inc. was formerly known as Casino America, Inc. and changed its name to Isle of Capri Casinos, Inc. in October 1998. The company was founded in 1990 and is based in St Louis, Missouri.
- [By Lisa Levin]
Isle of Capri Casinos (NASDAQ: ISLE) reported better-than-expected earnings for its fourth quarter on Tuesday.
The company posted adjusted earnings of $0.62 per share on revenue of $264.9 million. However, analysts were expecting earnings of 0.54 per share on revenue of $266.8 million.
Vanguard Short Term Corporate Bond ETF (the Fund) seeks to track the performance of a market-weighted corporate bond index with a short-term, dollar-weighted average maturity. The Fund employs a passive management or indexing investment approach designed to track the performance of the Barclays Capital U.S. 1-5 Year Corporate Index (the Index). This Index includes the United States dollar-denominated, investment-grade, fixed-rate, taxable securities issued by industrial, utility and financial companies, with maturities between 1 and 5 years. The Fund invests by sampling the Index, meaning that it holds a range of securities that, in the aggregate, approximates the full Index in terms of key risk factors and other characteristics. All of the Funds investments will be selected through the sampling process, and at least 80% of the Funds assets will be invested in bonds included in the Index. The Funds investment advisor is Vanguard Fixed Income Group. Advisors’ Opinion:
- [By Steven Goldberg]
Youll never grow rich owning Vanguard Short-Term Corporate Bond ETF (VCSH), but you wont go broke, either. I especially love two numbers about this fund: its annual expense ratio of just 0.10% and its average duration of 2.8 years (duration is a measure of interest-rate sensitivity; a duration of 2.8 years suggests that the funds price would drop by 2.8% if interest rates rose by one percentage point). The exchange-traded fund invests in short-term, high-quality corporate and government bonds. It yields just 1.9%, but the modest payout is a fair trade-off for the low risk.
Best Cheapest Companies To Buy Right Now: Bank Of Montreal(BMO)
Bank of Montreal provides diversified financial services primarily in North America. The companys personal banking products and services include chequing and savings accounts, credit cards, mortgages, creditor insurance, and financial and investment advice; and commercial banking products and services comprise business deposit accounts, commercial credit cards, business loans and commercial mortgages, cash management solutions, foreign exchange, and specialized banking programs for small business and commercial banking customers. It also offers wealth management products and services, such as investment and wealth advisory services; online investing services; financial services and solutions to high net worth and ultra-high net worth clients; and investment management, and trust and custody services to institutional, retail, and high net worth investors. In addition, the company provides life insurance, accident and sickness insurance, and annuity products to brokers and individuals, as well as reinsurance solutions. Further, it offers investment and corporate banking services, including clients debt and equity capital-raising services, as well as loan origination and syndication, balance sheet management solutions, and treasury management services; strategic advice on mergers and acquisitions, restructurings, and recapitalizations, as well as valuation and fairness opinions; and trade finance, risk mitigation, and other operating services. Additionally, the company provides trading products comprising research and access to global markets for institutional, corporate, and retail clients; new product development and origination services, as well as risk management advice and services to hedge against fluctuations; and funding and liquidity management services to its clients. It operates approximately 1,500 bank branches. Bank of Montreal was founded in 1817 and is headquartered in Montreal, C anada.
- [By Monica Gerson]
Bank of Montreal (USA) (NYSE: BMO) is expected to report its quarterly earnings at $1.76 per share on revenue of $5.02 billion.
EVINE Live Inc (NASDAQ: EVLV) is projected to report a quarterly loss at $0.10 per share on revenue of $162.13 million.
Best Cheapest Companies To Buy Right Now: Fogo de Chao, Inc.(FOGO)
Fogo de Chao, Inc., incorporated on May 24, 2012, is a holding company. The Company operates Brazilian churrascaria steakhouses under the brand of Fogo de Chao. The Company operates through two segments: the United States and Brazil. The Company is specialized in fire-roasting meats utilizing the Southern Brazilian cooking technique of churrasco. It delivers Brazilian dining experience through the combination of its Brazilian cuisine and its service model known as espeto corrido (Portuguese for continuous service) delivered by its gaucho chefs. The Company offers its guests with entree service table-side, which is available at each guest’s seat, green side up from its gaucho chefs. Each gaucho chef rotates throughout the dining room, and is responsible for a specific cut of meat, which they prepare, cook and serve to its guests throughout their meal. The Company operates over 30 restaurants in the United States and over 10 restaurants in Brazil, and a joint venture restaur ant in Mexico.
The Company’s menu consists of steak, including picanha, filet mignon, beef ancho, alcatra, fraldinha and costela; chicken, lamb and pork, including cordeiro, costela de porco, frango, lombo and linguica; seafood, including smoked salmon, jumbo shrimp cocktail and grilled spiced shrimp skewers; side dishes, including spring pea and asparagus soup, garlic mashed potatoes, caramelized bananas, pao de queijo, farofa, polenta, fogo feijoada and sauces; market table, including edamame roasted corn salad (seasonal), forbidden black rice salad (seasonal), hearts of palm, black pepper candied bacon, chicken salad and cold smoked salmon; desserts, including papaya cream, strawberry cream, caramelized pineapple and chocolate mousse cake, and bar fogo, including picanha sirloin slider, charcuterie board, grilled spiced shrimp skewers, mango refresco and superfruit lemonade. The Company’s menu also includes wines, such as Lapostolle, Merlot; Belle Glos, Pinot Noir; Lapostolle, Merlot, Rapel Valley, and Silver Oak, Cab! ernet Sauvignon.
- [By Monica Gerson]
Fogo De Chao Inc (NASDAQ: FOGO) is expected to post its quarterly earnings at $0.28 per share on revenue of $76.80 million.
Constellium NV (NYSE: CSTM) is estimated to report its quarterly earnings at $0.06 per share on revenue of $1.18 billion.
Best Cheapest Companies To Buy Right Now: Toll Brothers Inc.(TOL)
Toll Brothers, Inc., together with its subsidiaries, designs, builds, markets, and arranges finance for single-family detached and attached homes in luxury residential communities. It is also involved in building or converting existing rental apartment buildings into high-, mid-, and low-rise luxury homes. In addition, the company develops, owns, and operates golf courses and country clubs associated with various planned communities, as well as individual communities. It serves move-up, empty-nester, active-adult, age-qualified, and second-home buyers in 19 states in the United States. Toll Brothers, Inc. was founded in 1967 and is headquartered in Horsham, Pennsylvania.
- [By Eileen Rojas]
Toll Brothers has rising sales volume and unit prices
For the third quarter ended on July 31, Toll Brothers’ (NYSE: TOL ) net income was $46.6 million, or $0.26 per share. The latest income figures were down 24% from last year’s third-quarter results of $61.6 million, or $0.36 per share. The company’s total quarterly revenues were $689.2 million, up 24% over last year, and homebuilding deliveries were 1,059 units, up 10% compared to the same period last year.
- [By George Putnam, Editor, New Generation Research, Inc.]
Steve Halpern: Now, another company that you talk about is Toll Brothers (TOL), which focuses on the higher-end of the home market, as well as condominiums. Do you think there’s still opportunity with TOL?