Stock To Watch: $PCLN, $WMT, $BALT
Priceline.com Inc (NASDAQ:PCLN) shares soared ahead of its scheduled release of fourth quarter results due to multiple reasons which include Orbitz extraordinary performance in its earnings and a positive outlook by Credit Suisse. Last week, Priceline’s rival Orbitz and Tripadvisor posted their above par quarterly numbers, sending positive vibes to its own investors as it heads into quarterly earnings release week. Moreover, the online travel company received another boost from Credit Suisse, which raised its price targer for the company from $1275 to $1450, which indicates a potential upside of over 13% from its current market price. Credit Suisee continues to rate the stock as Overperform and the coming Thursday will be a significant day for the company.
Argentina has fined Wal-Mart Stores, Inc. (NYSE:WMT) with 604,000 pesos for not complying to maintain adequate stocks of price-controlled products post the devaluation of the peso. The Trade Secretary, Augusto Costa mentioned in a press conference that the fine has been imposed after the violations have been brought into government’s notice by the consumers. It is to be noted that the Argentine government has taken steps to control price hike due to falling of peso, and as a part of which it had entered into an agreement with 10 supermarkets to provide supplies of 194 basic goods on the agreed price cap. Following which, the government had asked the consumers to report complaints against super chains who either charged excessive price for these goods or did not stock them adequately.
If reports are to be believed than the dry-bulk sector is expected to rebound, presenting an optimistic view for Baltic trading Ltd (NYSE:BALT) among all. The report states that the dry-bulk sector can get a lift on account of rising demand for raw materials, mainly from China. In addition to this, Baltic has also exercised its option to purchase two new bulk carriers most recently, which are scheduled to be delivered to the company during the period of June-August’2015. The company decided to go ahead for the capital expenditure to expand its fleet and to take advantage of the favorable asset prices.
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