Welcome to John Ransom’s Stocks in the News where the headlines meet the trendlines.
Stock number one: Carbonite, Inc.
Carbonite beats by $0.07, beats on revs—Briefing.com
Carbonite beats by $0.07, beats on revs; guides Q2 EPS in-line, revs above consensus; guides FY14 EPS above consensus, revs in-line (CARB) : Reports Q1 (Mar) earnings of $0.02 per share, excluding non-recurring items, $0.07 better than the Capital IQ Consensus Estimate of ($0.05); revenues rose 18.8% year/year to $29.1 mln vs the $28.58 mln consensus.
Trailing PE: NA; Forward PE: NA
Estimate Trend: Flat
Ransom Note Trendline: Avoid Carbonite
Stock number two: JPMorgan Chase & Co.
JPMorgan Vice Chairman Ponti Leaving for Health-Care Fund —Bloomberg
Andrea Ponti, JPMorgan Chase & Co. (JPM)’s vice chairman of global health-care investment banking, is preparing to leave and set up an investment firm targeting the industry. Rakesh Patel and Cathrin Petty will continue to run JPMorgan’s health-care investment banking business in Europe, the Middle East and Africa, according to a memo from Laurence Hollingworth, head of EMEA coverage, that was obtained by Bloomberg News. The contents of the document were confirmed by a spokeswoman for the bank in London.
Trailing PE: 14; Forward PE: 9
Estimate Trend: Up
Price to Book: 1.03
Ransom Note Trendline: JP Morgan
Stock number three: Coach, Inc.
Coach earnings plunge as US sales tumble--FT.com
Coach shares tumbled by nearly 10 per cent after the US accessories group reported worse than expected quarterly earnings and a sharp dip in North American sales.
Sales in stores open at least a year fell 21 per cent in the group’s core home market, missing Wall Street estimates of a 15 per cent decline. It blamed a later than usual Easter and wet weather for its poor performance.
Trailing PE: 13; Forward PE: 14
Estimate Trend: Mixed
Ransom Note Trendline: Avoid Coach