Friday, June 29, 2012

Stocks to Watch: Research In Motion, PNC (Update 1)

Samsung said it's not interested in acquiring Research In Motion(RIMM), the struggling BlackBerry maker.

James Chung, a spokesman for Samsung, was quoted by Reuters as saying: "We haven't considered acquiring the firm and are not interested in (buying RIM)." Shares were tumbling 4.9% to $16.61 in premarket trading Wednesday. Bank of New York Mellon(BK) reported fourth-quarter earnings of 42 cents a share, missing the average estimate of 53 cents by analysts surveyed by Zacks. Shares were falling 4.6% to $20.30. Yahoo!(YHOO) co-founder Jerry Yang resigned from the Internet company's board.Yang also resigned from the boards of Yahoo! Japan and Alibaba Group. He cited a need to "pursue other interests outside Yahoo!" for the decision. Is Yang Really Gone From Yahoo!The news could be a sign that Yahoo! is getting ready to make a deal, perhaps selling the company outright or disposing of certain assets.Yahoo! shares were adding 3.1% to $15.91. ASML Holding(ASML), a chip-equipment supplier, said fourth-quarter earnings fell 12% on a revenue decline of 20%.ASML, which makes lithography systems, earned €317 million ($405 million), down from €362 million in the same period a year ago. Revenue was €1.21 billion. ASML said it expects sales for the first half of 2012 to be around €2.4 billion, unchanged from current levels.ASML was rising 3.1% to $43.92. Goldman Sachs(GS) reported fourth-quarter earnings of $1.84 a share, beating the $1.46 a share expected by analysts polled by Zacks. Shares were rising 1.8% to $99.44.Analysts ratcheted down fourth-quarter estimates for both Goldman Sachs and Morgan Stanley(MS) in the last several months, as it became evident that weakness in capital markets was likely to stay for some time. PNC Financial Services(PNC) reported fourth-quarter earnings of $1.39 a share, below the average analyst estimate of $1.41. Revenue came in at $3.55 billion, beating the average analyst estimate of $3.54 billion. Shares were falling 1.2% to $60.50. eBay(EBAY) is seen earning 55 cents a share when it reports quarterly earnings after the bell Wednesday. Shares were rising 1% to $30.84. TD Bank, a unit of Canada's Toronto-Dominion Bank(TD), and BB&T(BBT) submitted preliminary bids to acquire BankUnited(BKU) , according to people familiar with the situation, The Wall Street Journal reported. BankUnited is expected to fetch more than $2 billion. BankUnited's board is expected to consider the offers and decide on a next step within a few days, said a person familiar with the matter, the newspaper reported. BankUnited shares were up 0.9% to $26.16. US Bancorp (USB) earned 69 cents a share in the fourth quarter. The period included items that lifted profit by 5 cents a share.Analysts were expecting profit of 63 cents a share.Shares were up 0.4% to $28.90. -- Written by Joseph Woelfel and Andrea Tse>To contact the writer of this article, click here: Andrea Tse. >To order reprints of this article, click here: Reprints

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