From Briefing.com: 5:58PM Emcore misses by $0.03, ex items (EMKR) 11.30 +0.50 : Reports Q2 (Mar) loss of $0.07 per share, excluding non-recurring items, $0.03 worse than the Reuters Estimates consensus of ($0.04); revenues rose 35.5% year/year to $41.2 mln vs the $42 mln consensus.
4:35PM Rudolph Tech beats by $0.01, guides above consensus, sees "breakout quarter" (RTEC) 16.02 -0.09 : Reports Q1 (Mar) earnings of $0.09 per share, excluding non-recurring items, $0.01 better than the Reuters Estimates consensus of $0.08; revenues rose 37.7% year/year to $31.8 mln vs company guidance of $30-32 mln, issued March 15. Co issues upside guidance for Q2, sees EPS of $0.17-0.21 vs. $0.16 consensus; sees Q2 revs of $52-55 mln vs. $47.33 mln consensus. CEO commented, "We are very pleased with the fast start of our integration after closing our merger with August Technology. This fast start has led to our forecasting a "breakout quarter" for Rudolph Technologies".
4:27PM Virage Logic reports $0.03 above consensus, ex-items; guides Q3 above consensus (VIRL) 12.39 : Reports Q2 (Mar) earnings of $0.06 per share, excluding non-recurring items, $0.03 better than the Reuters Estimates consensus of $0.03; revenues rose 18.9% year/year to $15.2 mln vs the $14.8 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.06-0.07 vs. $0.04 consensus; sees Q3 revs of $15.2-15.7 mln vs. $15.60 mln consensus.
4:26PM Chipmos Technology beats by $0.05, affirms Q2 revs (IMOS) 7.35 +0.06 : Reports Q1 (Mar) earnings of $0.27 per share, $0.05 better than the Reuters Estimates consensus of $0.22; revenues rose 30.7% year/year to $134.5 mln vs the $129.9 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $137-143 mln vs. $140.1 mln consensus. Co remains cautiously optimistic about its business for the near and long-term. Co says "While sales of LCD TVs remained strong in Q1, there was a downturn in the LCD panel market due to seasonality. We currently expect a growth period for LCD TVs will occur in the second half of this year due to price reductions."
4:22PM O2Micro misses by 4 cents (OIIM) : Reports Q1 (Mar) earnings of $0.03 per share, $0.04 worse than the Reuters Estimates consensus of $0.07; revenues rose 24.9% year/year to $29.1 mln vs the $29.3 mln consensus.
4:20 pm : Per usual, the market was again unable to sustain a convincing advance, as growing interest rate concerns and a mixed batch of earnings data prevented investors from taking full advantage of plummeting prices across the energy complex.
The yield on the 10-yr note (-08/32) climbed back toward four-year highs near 5.14% after more strong economic data raised concerns that Fed tightening has further to go than expected. About 30 minutes after the opening bell sounded, a report showed that the ISM services index jumped to 63.0 -- the highest level since August 2005, as the prices paid component shot up to 70.5, driven higher by energy prices. Also validating that economic growth remains robust was March factory orders, which jumped a stronger than expected 4.2%. That left an 11.6% year/year pace -- the strongest since August 2004.
Meanwhile, since the broad-based nature of upside surprises has acted as a source of buying support for the market in the face of rising interest rates, a mixed bag of earnings reports over the last 24 hours left investors somewhat skeptical about the pace of earnings growth. Such concerns continue to underpin our Neutral market view. Procter & Gamble (PG 56.30 -1.81) beat forecasts by a penny, but sales were light, Q4 EPS guidance a bit disappointing and with the rate of growth checking in at its slowest pace in three years, the Dow component lost 3.1%. Coupled with a disappointing Q3 report from Clorox (CLX 61.52 -2.90), the Consumer Staples was unable to attractive defensive-minded investors amid a day of broad-based consolidation.
Microsoft (MSFT 23.17 -0.84) closing at a new 52-week low also weighed heavily on the market and the Technology sector. Reports that Microsoft is considering buying a stake in Yahoo! (YHOO 32.17 +0.32) led investors to question the tech giant's growth strategy. Software was also under pressure after Adobe Systems (ADBE 35.06 -3.29) said Q2 earnings would miss analysts' expectations. Playing into our Overweight rating on Technology, however, was a raised Q3 EPS outlook from Qualcomm (QCOM 51.75 +0.69), and an analyst upgrade on Motorola (MOT 21.92 +0.67), which is a suggested holding in our Active Portfolio.
Among the six other economic sectors losing ground, Health Care turned in the day's second worst performance. Downside Q2 guidance pushed CIGNA (CI 90.48 -15.02) to a 52-week low and exacerbated recent consolidation in the managed health care space while reports of more infections sent Bausch & Lomb (BOL 43.96 -4.79) to a new 52-week low.
On a positive note, energy prices plunged providing consumers some relief heading into the summer driving season, especially since prices at the pump jumped 13% in the last month. Gasoline futures closed down 4.0% at $2.089 a gallon while crude oil futures lost 3.0% and closed near $72 a barrel after the EIA showed that demand for gasoline was flat last week as inventories rose 2.1 mln barrels. That was the first climb in nine weeks and the market was expecting another draw down (consensus 650,000 barrels). Unfortunately for the bulls, the Energy sector's inability to provide leadership (-1.5%) reminded investors that Energy sector profits are unlikely to grow at the same rate as over the past year. Industrials, however, eked out a small gain as 3M Co. (MMM 85.90 +1.40) surged to session highs into the close of trading and transportation stocks benefited from the 3.0% pullback in the price of crude. BTK -1.0% DJ30 -16.17 DJTA +0.4% DJUA -0.3% DOT -0.9% NASDAQ -5.87 NQ100 -0.2% SOX +1.2% SP400 -0.1% SP500 -5.36 XOI -1.5% NASDAQ Dec/Adv/Vol 1508/1520/2.15 bln NYSE Dec/Adv/Vol 1806/1432/1.74 bln
3:53PM Amkor discloses resolution with Maxim Integrated Products with respect to pending litigation (AMKR) 12.49 +0.29 : On April 27, 2006 Amkor Technology and Sumitomo Bakelite and Sumitomo Plastics America reached resolution with Maxim Integrated (MXIM) Products with respect to pending litigation involving allegedly defective epoxy mold compound. Amkor has agreed to pay Maxim $3.0 million of the total settlement and release its claims against Sumitomo in consideration of a release from all claims against Amkor related to this litigation. We had previously reserved $2.0 million for this settlement and will record a charge of $1.0 million in the Consolidated Statement of Operations for the three months ended March 31, 2006. The settlement of this case will resolve the last litigation regarding the allegedly defective epoxy mold compound, as discussed in our Form 10-K for the year ended December 31, 2005.
3:31PM Google PC back on the front burner? - CNet "Half Baked" Blog (GOOG) 395.41 +.61 : CNet reports Allen Delattre, global managing director of the electronics and high-tech industry practice at Accenture, said during a brief conversation that "it is only a matter of time" before the co comes out with a home device. Why? For one thing, such a home device, especially if it doesn't come with Microsoft (MSFT) software or other applications, will be cheap to manufacture and buy. The co could also cut support cost by developing online support tools. Most support calls aren't hardware-related anyway, so automating customer service or handling it through the Web should be possible. More important, the co is increasingly rolling out services that could be promoted by a home device. The device would essentially let consumers hook into the Internet and would be populated with applications developed by the co, such as Gmail and the calendar applications. There would be easy links to services such as the co's video store. On the other hand, the tech graveyards are full of PC-like devices (Audrey, eVilla, the JavaStation, etc.) that never took off.
10:04 am Sonic: Piper Jaffray downgrades Outperform to Market Perform. Firm is saying that with gasoline prices approaching $3/gallon and corresponding media attention picking up steam, they view SONC's opportunity for near term earnings upside as diminishing given the pressure on the co's lower-end consumers' discretionary spending.
10:03 am Adobe Systems: CIBC Wrld Mkts downgrades Sector Outperform to Sector Perform. Firm downrgades due to concerns that slow down in demand, which the co highlighted last night in its mid-quarter update, may negatively impact Aug results. The firm says given slowing N.T demand and valuation, 24X F07E EPS, they see few catalysts to move the stock higher.
10:02 am Ceres Group: Friedman Billings downgrades Outperform to Mkt Perform. Firm downgrades based on two factors: 1) Monday evening's announcement that CERG had accepted a cash offer of $6.13 per share, and 2) the subsequent run-up in the stock price to about $6.00. From the current price, the firm sees limited upside given their take that the offer on the table was competitive and will be consummated.
09:59 am Performance Food: HSBC Securities upgrades Neutral to Overweight. Target $29 to $37. Firm ups rating on stock as mgmt appears to be back in its comfortable groove, improving profitability and growing the core foodservices business; the firm says as they look through unusual Q1 2006 costs, the picture appears attractive.
09:55 am Genesis Microchip: CIBC Wrld Mkts downgrades Sector Outperform to Sector Perform. The firm says they are trimming estimates, based on another disappointing quarter/outlook. They says while GNSS is not expensive, constant est revisions and negative D.T.V data points force them to the sidelines for now.
09:54 am 1-800 CONTACTS: KeyBanc Capital Mkts / McDonald upgrades Underweight to Hold. Firm is saying results were considerably ahead of forecast despite an increase in losses in the manufacturing operation and limited availability of certain doctor exclusive brands. The firm says most of the upside appears to have come from unrealized foreign exchange gains and stronger than expected retail sales. As they had indicated previously, CTAC has dramatically curtailed advertising as a result of its inability to secure an adequate supply of certain doctor exclusive brands; however, the cumulative effect of CTAC's brand building initiatives over the past several years, was enough to sustain stronger than expected top-line momentum over the near term.
09:51 am WMS Industries: Nollenberger Capital reiterates Buy. Target $32 to $38. Firm is noting the co reported Q3 ahead of expectations. The co noted the lowered guidance due to the delayed Russia shipments, there for they lowered their 4Q06 operating expectations. The firm says they would be buyers on weakness.
09:51 am Alcan Aluminium: Prudential reiterates Neutral. Target $43 to $54. Firm ups target to reflect their updated aluminum price forecast of $1.06 per pound. The firm estimates second quarter earnings should be in line with first quarter earnings as higher metal prices should be offset by higher input costs, lower technology and power generation sales, and a lesser beneficial impact due to passing through of higher aluminum prices for downstream engineered products.
09:50 am Hilton Hotels: CIBC Wrld Mkts reiterates Sector Outperform. Target $31 to $34. Firm is saying that they continue to recommend shares of Hilton; upside in 1Q06, a raised outlook for the full year, and positive momentum into 2007 should help to lift the share price.
09:49 am Oxford Industries: BB&T Capital Mkts upgrades Hold to Buy. Target $54. Firm is saying that they they forecasted the Womenswear Group would generate rev of $288 mln (~20% of mix) and operating income of $17 mln (~14% of overall profitability). They estimate the deal will cause net dilution of approx $0.44 during FY'07, with the loss of sales volume/operating income (estimated $0.60) more than offsetting benefit of reduced interest expense on lower debt levels (estimated +$0.16). The firm says while the near-term impact of the transaction drags on earnings, they believe the divestiture of the womenswear group is appropriate, shedding a lowgrowth commoditized business; setting the stage for more visible and sustainable earnings growth longer term.
09:49 am Tim Hortons: RBC Capital Mkts initiates Outperform. Firm is saying that Tim Hortons should deliver 14.5%-15.0% average annual earnings growth over the 2005-2008 period by leveraging its clear leadership position in Canada and strengthening its position in the United States. The firm says Tim Hortons is that rare breed: a mature co with a strong consumer franchise that nonetheless has above-average earnings growth potential.
09:48 am MasTec: Sanders Morris Harris initiates Hold. Firm starts with Hold rating based on their concerns about near-term margin challenges. The firm says the bigger picture is positive, including rev of near $1 bln, healthy EBITDA, and free cash flow growth.
09:41 am Genesis Microchip: WR Hambrecht downgrades Buy to Hold. Firm downgraded as their revised model for FY:07 indicates contraction in earnings and only modest revenue growth. In the near term, they are growing increasingly concerned over the co's two-chip to one-chip transition in the digital TV market (and associated rev per box loss), which appears to be having greater impact to TV segment rev than they had originally anticipated.
12:33 pm Procter & Gamble (PG)
55.67 -2.44: There is Procter & Gamble and then there is Procter & Gamble, excluding Gillette. That qualifier runs throughout the Dow component's fiscal third quarter earnings release, which contained some good news and some not-so-good news. Given the price action in the stock, it is apparent that the market is choosing to focus on the latter.
The negative response revolves around three points. First, P&G's net sales increased a heady 21% to $17.25 billion, but were actually shy of the consensus estimate of $17.52 billion, according to Reuters Estimates. Secondly, although P&G raised its full-year outlook, its EPS guidance of $0.52-0.54 for the fiscal fourth quarter is below the consensus estimate of $0.55. And third, the concrete evidence of Gillette's dilution factor, and its impact on the company's EPS growth rate, is calling into question P&G's premium valuation.
Including the dilution from Gillette, which was in line with P&G's prior guidance, earnings per share for the third quarter were $0.63 or 7.0% higher than the year-ago period. The removal of a $0.01 per share tax benefit put P&G's EPS result a penny ahead of the consensus estimate. The company's base EPS growth, which excludes Gillette, was approximately 20%. For the full year, P&G expects EPS to be $2.61-2.63, including an estimated $0.19-0.23 of Gillette dilution. Excluding Gillette, the company noted it is on track to deliver a fourth consecutive year of double-digit EPS growth.
It was evident in the third quarter report that P&G's products continued to be greeted with solid demand around the world. Organic volume, which excludes the impact of divestitures and acquisitions, jumped 5.0% behind double-digit developing market growth while organic sales, which also exclude foreign exchange, increased 6.0%. The latter is above the company's long-term targeted growth range of 3-5% and was described as broad-based across all business segments and in both developed and developing regions.
Additionally, P&G achieved significant margin improvement in the quarter with gross margins increasing 110 basis points to 51.7% and operating margins jumping 160 basis points to 19.4%. The gains resulted from the mix benefit from the Gillette acquisition, volume growth, price increases, and cost savings initiatives that more than offset higher commodity costs.
All in all, there were patches of disappointment in the latest update from P&G that provide some justification for the weakness in the stock today. There was little in it, however, that would suggest a long-term investor should abandon the stock altogether. The long-term benefits of the Gillette acquisition were reflected in the margin improvement, the company's impressive cash flow generation ($2.80 billion in free cash flow in the quarter), and upward revision to its full-year earnings estimate. Valuation concerns could hang over the stock for the time being, yet P&G should continue to be viewed as a core holding in a defensive-oriented portfolio.
--Patrick J. O'Hare, Briefing.com
11:52 am Clorox (CLX)
61.20 -3.22: Clorox shares tumbled on Wednesday after the consumer products company said third quarter profits fell, as higher commodity costs offset price increases and tighter cost controls, and guided lower for the fourth quarter. Furthermore, the company, whose brands include Kingsford charcoal, Glad trash bags, and its namesake bleach, also announced the retirement of Chairman and Chief Executive Officer Jerry Johnston, who is currently recovering from a recent heart attack.
Clorox said it earned $110 million, or $0.72 per share, in the latest quarter, compared with year ago profit of $118 million, or $0.76 per share. Revenue rose 6.5% to $1.16 billion, up from $1.09 billion last year. According to Reuters Estimates, analysts on average were looking for earnings per share of $0.71 and $1.16 billion in revenue.
Volume was flat in the quarter, as price increases reduced retail sales and poor weather conditions in certain markets impacted charcoal sales. The company said sales growth outpaced volume growth, primarily due to higher prices and efficiencies in trade promotion spending. Meanwhile, gross margin declined 30 basis points to 41.5% as volatile commodity costs continued to weigh on results.
Looking to the fourth quarter, the company projected earnings from continuing operations of $1.00 to $1.06 per share with sales growth between 3% and 5%. That compares with analysts' forecast for earnings of $1.07 per share, according to Reuters Estimates. The company also projected fiscal year earnings of $2.97 to $3.03 per share, along with 5% to 6% sales growth, compared with the consensus estimate of $3.03 per share. In the long-term, Clorox expects fiscal 2007 earnings in the range of $3.20 to $3.30 per share on sales growth between 3% and 5%. That falls below analysts' expectations for earnings of $3.37 per share.
Elsewhere, Procter & Gamble (PG) reported higher quarterly profits, but offered a disappointing outlook for the current quarter, sending its shares lower during the regular trading session. In spite of the tempered forecast, however, Briefing.com continues to hold a Market Weight rating on the Consumer Staples sector, and a favorable view on the household products group in particular given its defensive orientation.
--Richard Jahnke, Briefing.com
10:29 am Marsh & Mclennan (MMC)
29.93 -0.27: Marsh & Mclennan, the nation's largest insurance brokerage, on Wednesday reported first quarter results that fell below analysts' expectations, offering further evidence that the company has yet to recover from a large regulatory settlement with New York Attorney General Eliot Spitzer in January 2005 over allegations of improper accounting, bid rigging, and the use of contingent commission fees.
For the quarter, Marsh & Mclennan reported net income of $416 million, or $0.75 per share, compared with $134 million, or $0.25 per share, a year earlier. Excluding discontinued operations, earnings were $238 million, or $0.43 per share, up from $129 million, $0.24 per share, last year. Analysts on average were looking for earnings of $0.52 per share, according to Reuters Estimates.
First quarter revenue slipped 1.5% to $3.03 billion from $3.07 billion in the prior year period. By division, risk and insurance services revenue fell 7% to $1.5 billion, largely due to the resigning of unprofitable accounts, as well as continued declines in commercial insurance pricing, particularly in Europe. The company's asset manager Putnam also showed weakness during the quarter, with revenue down 13% to $345 million and assets under management down 7% at $190 billion. Meanwhile, Marsh & Mclennan's consulting business recorded revenue of $1 billion, up 8% year/year, and risk consulting and technology division saw revenue climb 4% to 243 million.
Weighed down by a recent investigation by regulators, Marsh & Mclennan has seen its stock languish in the past year. Although the company has modestly improved its business tone, it continues to struggle with rebuilding its image amid declining revenue. As such, we would remain on the sidelines with the stock until the company can demonstrate more meaningful operating improvements, particularly in its insurance brokerage unit.
--Richard Jahnke, Briefing.com
09:48 am Qualcomm (QCOM)
51.97 +0.91: For many, choosing a handset is not just about phone features and benefits, it's about the carriers and the technology they use for their networks. The two major technologies in the world that service providers use to carry voice and data services across their networks are CDMA (Code Division Multiple Access) and GSM (Global System for Mobile Communications). GSM has been the standard in Europe and Asia, while CDMA has ruled in the US. Today, Qualcomm, the world's second largest maker of cell phone chips, raised its guidance reflecting higher shipments that resulted from healthy demand growth for handsets in the developed and emerging markets.
CDMA, Qualcomm's brainchild, is gaining momentum in the race to become the world's dominant wireless technology. The company's increased forecast reflects stronger than expected new orders for its low-end chip sets, as well as its high-end 1xEV-DO chipsets. QCOM expects shipments could rise to as many as 56 million units from 36 million a year earlier - up from its previous guidance of 53 mln.
At the time of its second quarter report on April 19th, Qualcomm raised the bar for the third quarter forecasting EPS of $0.36-$0.38 and revenues of $1.77-$1.87 bln. Today, the company, which ranks second behind Texas Instruments (TXN) in handset chip sales, moved the needle a bit higher. It now sees earnings of $0.38-0.40 per share and revenues at or above the high end of its previous guidance. The market consensus currently stands at $0.38 per share and $1.835 bln in revenues.
Shares of Qualcomm, as well as the handsets manufacturers like Motorola (MOT), are moving higher in early trading. Qualcomm is still in negotiations with Nokia (NOK) over a cross-licensing agreement, which remains an overhang on shares. Today's revision gives evidence of greater CDMA momentum in the emerging markets as well as Europe and Asia. The next big catalyst on the horizon is the 3G licenses in China, the timetable of which has been delayed on numerous occasions.
--Kimberly DuBord, Briefing.com
09:12 am Electronic Data Systems (EDS)
27.62: Electronic Data Systems on Tuesday reported higher profits and revenue for the fiscal first quarter, driven by a jump in new contract signings, but missed analysts' expectations. Additionally, the Plano, Texas-based computer services company issued lower than expected guidance for the second quarter. EDS shares, in turn, are trading slightly lower in pre-market activity. Still, while the latest results fell short of analysts' expectations, they reflect progress in the company's turnaround plans and cost cutting initiatives, with profits up nearly six-fold.
In the most recent quarter, EDS earned $24 million, or $0.05 per share, up from a year ago profit of $4 million, or $0.01 per share. Analysts were expecting earnings of $0.08 per share, according to Reuters Estimates. On a pro forma basis, which excludes a $0.01 per share loss on discontinued operations and $0.07 per share for expensing of stock based compensation, earnings increased to $69 million, or $0.13 per share in the first quarter.
Revenue for the period rose 7.2% to $5.08 billion from $4.74 billion, compared with the consensus estimate of $4.8 billion. The increase was led by a 28% jump in government revenue to $840 million, along with solid growth in the company's other segments, including a 3% increase to $2.3 billion in the Americas, a 16% increase to $1.6 billion in EMEA, and a gain of 8% in the Asia-Pacific region.
EDS said it signed $10 billion in contracts during the quarter, up 45% from the prior year period. In particular, the company signed significant contracts with General Motors (GM) and the U.S. Department of the Navy. It also achieved $400 million in new HR outsourcing contracts, including a substantial end-to-end HR services contract for ExcellerateHRO.
For the current quarter, EDS said it expects to earn $0.12 to $0.17 per share, including the impact of stock based compensation expense, on revenue of $5.0 to $5.2 billion. That compares with analysts' forecast for earnings of $0.18 per share and revenue of $5.05 billion, according to Reuters Estimates.
--Richard Jahnke, Briefing.com
08:56 am Devon Energy (DVN)
62.79: Devon Energy, the second largest independent oil and gas producer in the US, reported a 24% increase in first quarter profits to $700 mln, or $1.56 per share, as higher prices offset lower production. Delayed restoration of operations in the Gulf of Mexico, combined with asset divestitures, led to a 14% decline in average daily production. Excluding the impact from the 2005 hurricanes, production would have been up 2%. On April 6th, the company lowered its full year production guidance, reflecting delays, to 215 mln barrels of oil equivalent from 217 mln.
Devon's top and bottom line benefited from a 30% increase in natural gas prices and a 55% increase in crude prices during the quarter. Total revenues grew more than 16% to $2.7 bln, half of which were made up of natural gas sales. The remainder includes oil, natural gas liquids, and marketing and midstream sales. Despite higher price realizations, along with a lower share count, DVN missed analysts' estimate by three cents.
The latter point notwithstanding, soaring energy prices continue to drive the energy sector higher. Considering DVN is mainly a gas producer, price action is geared more towards fluctuations in natural gas futures. We would be buyers at current levels given the company's recent successful bid for Chief Holdings Barnett Shale acreage, in addition to its raised expectations for per-well recoveries. Devon is the largest producer by far in the Barnett Shale field in East Texas that is estimated to have 20 tcf of possible recoverable reserves.
--Kimberly DuBord, Briefing.com
08:10 am Time Warner (TWX)
17.42: The world's largest media company reported a 59% jump in first quarter profits to $1.46 bln due to asset sales. The star of the show was the Cable segment, which delivered outstanding results driven by strong basic and digital subscriber growth and a record-setting number of subscriber additions for its high-speed data and digital phone services. Operating income before depreciation and amortization, the key metric for media companies, grew 8% reflecting double-digit increases at the Cable and Filmed Entertainment segment, as well as a gain for Networks.
As expected, revenues declined at its AOL and Filmed Entertainment units, weighing on the quarterly performance. Total revenues rose less than one percent to $10.5 bln. Per share profits, excluding items of 20 cents per share, met expectations. The pressure on Time Warner from shareholder activists to return value to stockholders has led to increased buybacks and dividends. The company's net debt load, however, increased by $1.7 bln to $17.8 bln in the quarter reflecting payments in the quarter.
AOL revenues fell 7% to $2.0 bln due to a decrease in Subscription revenues that was offset in part by a rise in advertising revenues, leading to a 17% decline in operating income. Time Warner Cable revenues rose 15% reflecting higher subscription revenues and a slight decline in advertising revenues. Time Warner's triple play rollout has been quite successful in garnering new data and voice subscribers, while raising the average monthly revenue per subscriber by 15% to $87 - the 21st consecutive quarter of double-digit growth.
Overall, it was a solid start for the media giant, which also reaffirmed it full year outlook. We continue to favor the media sector with increasing visibility, renewed focus on shareholder returns, and growth prospects for the industry, but prefer News Corp (NWS/A) and Disney (DIS), both suggested holdings in our Active Portfolio.
--Kimberly DuBord, Briefing.com |
