Bank of America (BAC) shares are off 14 cents, or 0.8%, at $16.79. Aside from the bad news about consumer credit card borrowing this afternoon, Bank of America’s CEO Brian Moynihan are among those who will be required to testify before the congressional Financial Crisis Inquiry Commission next week, the Wall Street Journal’s Damian Paletta and John McKinnon report this afternoon. Hopefully, the bonuses paid to B of A execs, close to 2007′s levels, according to Dan Fitzpatrick, will take the sting off of things.
$4 billion payment processor Global Payments (GPN) is down $3, or 6%, at $48.97 after the company last night reported better-than-expected profit in its fiscal Q2 ending November, but forecast sales below estimates. The stock was downgraded to “Equal Weight” from “Overweight” by Barclays Capital and to “Market Perform” from “Outperform” at Barrington Research.
For-profit education firm Apollo Group (APOL) is down $3.42, or 5.4%, at $60.52 despitelast night beating sales and profit estimates slightly for its fiscal Q1 ending in November. The company reported new enrollments below some expectations. Deutsche Bank analysts today lowered estimates for the company’s fiscal Q2 and for the full year and BMO Capital analysts cut the stock to “Market Perform” from “Outperform.”
Alberto-Culver (ACV) and Colgate-Palmolive (CL) were both down following a JP Morgan-Chase downgrade of the stocks to “Neutral” from “Overweight” as part of its year outlook piece on consumer stocks, along with Coca-Cola (KO), mentioned earlier. Colgate was off $1.55, or 2%, at $81.45, while Albert-Culver was down 56 cents, or 2%, at $29.13.
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