(Source: MARKETWIRE)
Futures are showing signs of a green open this morning. Explicit
Picks is watching several stocks this morning for possible early
morning trades. Our team at Explicit Picks tracks stocks market-wide
with a focus on providing investors with winning micro-cap and
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Most technology companies were off to a slow start Monday morning but
Apple Inc., Texas Instruments Inc. and Motorola all finished strong.
Both Apple Inc and Texas Instruments reported higher than expected
earnings, while Motorola benefited from a top notch new add over the
weekend. CIT Group Inc. still upstaged all reports with its
announcement that billionaire Carl Icahn has offered to underwrite a
$6 billion dollar loan to the commercial lender.
Carl Icahn, the corporate raider who may be the largest holder of CIT
Group Inc bonds, said the troubled lender is paying too much for an
ill-conceived plan to win over a select few creditors. Icahn sent a
letter to CIT's board on Monday offering to underwrite a $6 billion
loan to the company. CIT Group Inc has acknowledged the offer, and
says it intends to ask for more information on his proposal.
Apple Inc closed up 8% with a late day rally yesterday due to its
much better than expected earnings reports. The maker of the iPhone
and iPod earned $1.82 a share in its fiscal fourth quarter, up from
$1.26 a share in the same period last year. Apple's sales of the
iPhone and Mac hit quarterly records. The company sold 7.4 million
iPhones and 10.2 million iPods.
Texas Instruments Inc also beat forecasts Monday after posting
better-than-expected revenue. While analysts who follow Texas
Instruments expected the company to turn in a gain of .39 cents a
share on sales of $2.82 billion, Texas instruments actually reported
earnings of .42 cents on sales of $2.88 billion. The company's shares
rose 2.3 percent to $24.05 after closing at $23.52 Monday.
Shares of Motorola Inc. surged Monday as Verizon Wireless launched an
aggressive ad campaign to promote a new Motorola phone. Over the
weekend ads began to air for the new Motorola "Droid" cell phone.
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