Stocks to Watch: Best Buy, HP, JPMorgan
NEW YORK -- Best Buy(BBY) reports third-quarter earnings before Tuesday's opening bell and Wall Street is looking for profit of 12 cents a share from the consumer electronics retailer on revenue of $10.73 billion.
The talk of a potential buyout by Best Buy founder Richard Schulze hasn't translated to any appreciation in the stock, which is down more than 40% so far this year, hitting a 52-week low of $13.52 on Friday.
Hewlett-Packard(HPQ) is expected by analysts Tuesday to post fiscal fourth-quarter profit of $1.14 a share in the October-ended period on revenue of $30.43 billion.
The stock is down more than 48% year to date.
JPMorgan Chase(JPM) named on Monday Marianne Lake as its next chief financial officer, succeeding Doug Braunstein, who is becoming the bank's vice chairman.
Lake, currently the financial chief of the company's consumer and community banking business, is expected to transition into the CFO role during the first quarter of 2013.
Campbell Soup(CPB) is expected to post earnings of 85 cents a share in its fiscal first quarter.
H.J. Heinz(HNZ) is expected by analysts Tuesday to post fiscal second-quarter earnings of 88 cents a share.
Credit Suisse (CS) said Tuesday it was overhauling its investment banking division and merging its private banking and wealth management arms to cut costs and satisfy regulators.
It was disclosed Monday that hedge fund Tiger Global Management had purchased a stake of 65 million class A shares in Groupon(GRPN) , which represents 9.9% of the daily deal company's outstanding class A stock.
Urban Outfitters (URBN) on Monday reported an increase in third-quarter earnings but fell short of analysts' estimates by a penny.
Sales rose to $693 million from $610 million a year earlier.
-- Written by Joseph Woelfel
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