From the Wires
The Zacks Analyst Blog Highlights: U.S. Bancorp, Goldman Sachs Group, PNC Financial Services Group, Bank of America and Altera
By: PR Newswire
Dec. 6, 2012 09:30 AM
CHICAGO, Dec. 6, 2012 /PRNewswire/ -- Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include U.S. Bancorp (NYSE:USB), Goldman Sachs Group Inc.'s (NYSE:GS), PNC Financial Services Group Inc. (NYSE:PNC), Bank of America Corp. (NYSE:BAC) and Altera Corporation (Nasdaq:ALTR).
Get the most recent insight from Zacks Equity Research with the free Profit from the Pros newsletter: http://at.zacks.com/?id=5513
Here are highlights from Wednesday's Analyst Blog:
U.S. Bancorp to Up Repurchase Reserve
U.S.Bancorp (NYSE:USB) plans to boost its mortgage repurchase reserves in the fourth quarter of 2012. The decision comes on the heels of Freddie Mac's increase in its repurchase requests. The company conveyed this information to investors at Goldman Sachs Group Inc.'s (NYSE:GS) financial services conference yesterday, according to a Reuters report.
Altera Trims Outlook, Shares Fall
Chipmaker Altera Corporation (Nasdaq:ALTR) recently trimmed its revenue guidance for fourth quarter 2012 and updated its financial guidance for 2013.
Altera now expects revenue to be 8% to 10% lower than the third-quarter levels, compared to the previous guidance of down 6% to 10%.
This translates into revenues of $445.5 million – $465.3 million, down from the previous estimate of $455.4 million – $465.3 million.
The solid growth in new products will be more than offset by lower sales of the company's existing products.
Meanwhile, for 2013, gross margin is targeted around 69% – 70%. Research and Development is estimated at approximately $104 million, driven by increased variable compensation expense and stock-based compensation. SG&A is likely to come around $315 million on the back of variable compensation for bonus, sales commission and stock-based compensation.
Other Income/Expense is projected at $1 million. Tax rate is expected to be 13%. Capital expense is expected to be $65 million.
Earlier, Altera reported a net income of $157.5 million or 49 cents per share in the third quarter of 2012, easily beating the Zacks Consensus Estimate of 46 cents per share.
Want more from Zacks Equity Research? Subscribe to the free Profit from the Pros newsletter: http://at.zacks.com/?id=5515.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today: http://at.zacks.com/?id=5517
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leon Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=5518.
Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.
Follow us on Twitter: http://twitter.com/zacksresearch
Join us on Facebook: http://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.
SOURCE Zacks Investment Research, Inc.
SOA World Latest Stories
Subscribe to the World's Most Powerful Newsletters
Subscribe to Our Rss Feeds & Get Your SYS-CON News Live!
SYS-CON Featured Whitepapers
Most Read This Week