Early movers: fdo, hpq, aig, bbry, coh & more
Early movers: fdo, hpq, aig, bbry, coh & more"
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_These stocks are moving before the bell on Wednesday:_ Family Dollar Stores — The retailer reported fiscal third quarter profit of $1.05 per share, two cents above estimates, with revenues
in line. The company also raised its forecast for the year, although it does say its customers are experiencing some "financial headwinds". Hewlett-Packard — HP was upgraded to
"buy" from "sell" at Citigroup, with Citi pointing to increasing benefits from cost savings in the second half of the year, as well as increasing momentum from HP's
services segment. Coach — BMO Capital began coverage on Coach with an "outperform" rating, citing an attractive valuation and new management leadership. AIG — As expected, AIG is
among the non-banks designated as systemically important by the Financial Stability Oversight Council. The insurance giant issued a statement saying it expected this designation and welcomes
it. General Electric's GE Capital unit received the same designation, while another unnamed company, assumed to be Prudential Financial, received a hearing on its request for an appeal
as it seeks to avoid that designation. Nabors Industries — Nabors said its second quarter profit would fall short of Wall Street estimates. The oil services provider points to tougher
competition and fewer rentals of its rigs. Nu Skin —The company raised its earnings and revenue guidance for the current quarter and the fiscal year, pointing to sales gains in the China,
North Asia, and the Americas. The maker of skin care products now sees second quarter earnings of $1.20 per share compared to its prior guidance of 91 - 95 cents per share. BlackBerry —The
smart phone maker is planning more job cuts on top of the five thousand it laid off in 2012, according to the Wall Street Journal. DirecTV, AT&T and Time Warner Cable —The three
companies are the remaining bidders for Hulu, according to All Things D. DirecTV and a partnership between AT&T and media executive Peter Chernin want to purchase all of the video
service, while Time Warner Cable seeks a minority stake. Smithfield Foods — CEO Larry Pope will be questioned by senators today, amid concerns about the recent deal to sell the pork producer
to China's Shuanghui International. Helen of Troy — Helen of Troy reported quarterly profit of 82 cents per share, excluding certain items, 11 cents above estimates. The personal care
products maker has warned in recent months that its results could be hurt this year by a tough retail environment. Cliffs Natural Resources— CEO Joseph Carrabba will retire from the mining
company by the end of the year. He'll continue to serve as CEO until a successor is named. Separately, BB&T Capital upgraded the stock to "buy" from "hold".
Restoration Hardware — A sale of 12 million company shares has been launched by stockholders in the home goods retailer. Restoration Hardware will not receive any proceeds from the sale.
Duke Energy — Moody's placed the utility on review for a possible ratings upgrade. The rating agency cites the resolution of various uncertainties surround the company in recent months.
_(Read More_: See CNBC's Market Insider Blog) _—By CNBC's Peter_ Schacknow _uestions? Comments? Email us at [email protected]_
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