U.S. Hot Stocks: Hot Stocks to Watch
July 14 2016 - 9:48AM
Dow Jones News
By Maria Armental
Among the companies with shares expected to trade actively in
Thursday's session are J.P. Morgan Chase & Co. (JPM), Delta Air
Lines Inc. (DAL), Yum Brands Inc. (YUM) and Coach Inc. (COH).
J.P. Morgan posted stronger-than-expected second-quarter
earnings and a surprise increase in revenue, driven by a surge in
its trading business and lower expenses. Shares rose 2.8% to $64.90
in premarket trading.
Delta on Thursday said it has decided to reduce its U.S.-U.K.
capacity on its winter schedule because of additional foreign
currency headwinds from the steep drop in the British pound and the
economic uncertainty from Brexit. The No. 2 air carrier by traffic
announced the reduction with its results for the June quarter. In
the quarter, earnings rose a better-than-expected 4.1%, but revenue
fell more than analysts anticipated. Shares rose 0.6% to
$39.78.
Yum Brands on Wednesday raised its projection for core operating
profit growth, citing the rebound of its China business during the
first half of the year. The company said it expects to complete the
spinoff by Oct. 31. Shares rose 3.9% to $89.10.
Handbag retailer Coach on Thursday said it named a new head of
its Stuart Weitzman division, bringing in Wendy Kahn from Valentino
Fashion Group and marking the latest management change as the
company continues reshape itself. Shares fell 3% to $40.75.
BlackRock Inc. (BLK) said Thursday that net inflows to
fixed-income products helped boost its assets under management in
the latest quarter to a record high, even as profit fell for the
world's largest money manager. Shares fell 1.3% to $353.
Cree Inc. (CREE) agreed tp sell its North Carolina-based company
Wolfspeed to German chip maker Infineon Technologies AG for $850
million in cash. Cree shares rose 9.5% to $27.46.
CSX Corp.'s (CSX) revenue fell 12% in the second quarter as
lower coal shipments--a key business for freight lines--continued
to pressure the railroad operator. Shares fell 0.7% to $28.
Devon Energy Corp. (DVN) said Thursday that it will sell its 50%
ownership stake in Access Pipeline to Wolf Midstream Inc. for C$1.4
billion (US$1.1 billion). Shares rose 2.1% to $39.80.
Omnicom Group Inc. (OMC) reported its earnings in the
most-recent quarter rose above analysts' expectations, although a
small rise in revenue fell just short of expectations, hurt by
foreign exchange rates. Shares fell 1.7% to $83.50.
--George Stahl contributed to this article.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
July 14, 2016 09:33 ET (13:33 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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