Stocks to Watch: Best Buy, Pfizer
NEW YORK -- Best Buy
Best Buy bought 50% of the mobile-phone company's European retail operations for about $2.1 billion in 2008 as it looked to expand across Europe. But the venture proved costly, and Best Buy had to abandon plans to build megastores on the continent.
Drug giant Pfizer
British oil company BP
"These strong first-quarter results demonstrate the progress BP is making ... and underpin our commitment to material operating cash flow growth by 2014," said BP CEO Bob Dudley, in a statement Tuesday.
Swiss banking giant UBS
In the first quarter, UBS' investment bank posted a profit of 977 million francs before taxes and the wealth management arm posted a profit 664 million francs before taxes.
The nutrition specialist reported revenue of $1.1 billion, a 17% increase over the prior year's quarter, topping analysts' estimates of $1.07 billion. Herbalife also enjoyed saw volume growth of 13% from the same period last year.
Excluding items, Herbalife earned $1.27 a share, up from 88 cents a share in the prior year's quarter. Analysts were looking for earnings of $1.07 a share.
The Los Angeles-based company, which has recently faced accusations that it's a pyramid scheme, also raised its 2013 guidance to between $4.60 and $4.80 a share.
-- Written by Joseph Woelfel
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