Stocks to Watch: McDonald's, Molina (Update 1)
NEW YORK -- McDonald's(MCD) , the fast-food giant, is expected Friday to report sales figures for May.
Shares of McDonald's are down 12% year to date.
Deutsche Bank sees opportunity in the weakness, reiterating its buy rating Thursday and $100 price target on McDonald's. The stock fell 28% Thursday to $88.38.
Molina Healthcare(MOH) withdrew its 2012 earnings guidance Wedensday because of potential expansion-related costs in Texas. and the stock declined 31.02% in trading Thursday to $17.77.
Bur the stock is rebounding in premarket trading Friday after the company said it will be able to keep providing managed-care services for Medicaid beneficiaries as of 2013 in Ohio.
The stock is up 29.77% to $23.06 in premarket trading Friday.
Best Buy (BBY) founder and chairman Richard Schulze resigned from the board on Thursday.
Schulze said he was exploring options for his 20.1% stake in the electronics retailer.
Best Buy fell Thursday by 1% to $19.70.
Francesca's Holdings(FRAN) , the Houston-based specialty apparel retailer, on Thursday reported better-than-expected quarterly results and gave a solid outlook.
The company forecast earnings of 22 cents to 23 cents a share for its fiscal second quarter ending in July on sales of between $69 million and $71 million. Analysts forecast profit of 22 cents a share on sales of $68.6 million.
Piedmont Natural Gas (PNY) said fiscal second-quarter profit rose 6%.
Earnings were $50.2 million, or 70 cents a share, up from year-earlier profit of $47.4 million, or 66 cents.
Revenue fell 21% to $308.4 million.