Comcast on watch after beating expectations
Investors may be tracking shares of Comcast Corp. (CMCSA) more closely today, up 4 percent in pre-market trading, after the top U.S. cable provider reported second quarter earnings per share results which beat analysts expectations. The firm said today net profit was 33 cents per share, or $967 million, up from 21 cents a share, or $632 million in the same quarter a year earlier. Analysts had expected 26 cents per share, according to Reuters Estimates. Revenue rose 4.5 percent to $8.94 billion. See Full Article here.
Costco looks to drop on lower sales
Another stock likely to be on investors’ radar today is Costco Wholesale Corp (COST), down slightly more than 1 percent in pre-market trading, which reported that sales for stores open at least one year fell 7 percent in July, more than analysts had expected, hurt mostly by a stronger U.S. dollar. Analysts had expected a 6.7 percent fall, according to Thomson Reuters. See Full article here.
First fruits of Chrysler-Fiat alliance
The first fruits of the new Chrysler Group LLC and Fiat SpA alliance may be to scrap Chrysler’s platform for building the popular 300C sedan in favor of new technology from the Italian automaker, Bloomberg reported today, citing two people familiar with the situation. The production changes won’t come until 2014 or 2015, an analyst told the news agency.