Stock number one is:
Wal-Mart Stores, Inc., (SYMBOL: WMT) and the headline says: Wal-Mart Cuts Profit Forecast as Higher Taxes Damp Sales -- Bloomberg
Wal-Mart missed analysts’ earnings projections for the fifth straight quarter, as payroll taxes and poor global economies impacted today’s second quarter earnings report. The company guided analysts a little lower on full-year earnings projections, and cut its full-year revenue growth projections in half.
To offset economic woes, Wal-Mart is aiming to double its sales of beer and liquor by 2016.
The stock appears to be bouncing at support levels today. Expect it to trade between $74 and $79 in the foreseeable future. Growth stock investors should trade out in the upper $70’s for better opportunities.
Our Ransom Note trendline says: HOLD WAL-MART.
Stock number two is:
Cisco Systems Inc., (SYMBOL: CSCO) and the headline says: Cisco Cutting Jobs as Revenue Forecast Misses Estimates -- Bloomberg
Network equipment maker Cisco Systems reported fourth quarter earnings up 18% and revenue up 6% year-over-year, led by strength in its enterprise business. However, economic weakness in international markets is hampering Cisco’s growth goals. The company announced plans to lay off another 4000 employees, totaling 12,300 in the last two years.
Cisco’s earnings are projected to grow 9, 5 and 8% over the next three years. The PE is 12 and the dividend yield is 2.78%.
Expect the stock to trade between $24 and $26.50 in the near-term. Traders could make money short-term.
Our Ransom Note trendline says..... HOLD CISCO SYSTEMS.
Stock number three is:
Open Letter to Obama and Congress From Internet Giants Calls For Reining In Government Surveillance | Nick Sorrentino
(An important interview) Saving the Net from the surveillance state (And Crony Media): Glenn Greenwald speaks up (Q&A) | Nick Sorrentino