5 Stocks in the News Today: JPM, JCP, TKR, LIFE, RATE

PUBLISHED: 12 Apr 2013 @ 19:59 | Comments (0) | More info about Ed Liston

JPMorgan Chase & Co. (NYSE:JPM): the banking giant announced higher profit but its revenue declined. It reported 33 percent increase in net income to touch record high net income of $6.53 billion. It had reported its net income at $4.92 billion for the corresponding quarter of the last year. On per share basis, the company’s net income stood at $1.59 per share. However, its revenue for the quarter declined 3 percent to $25.8 billion. JPMorgan Chase also slashed its provision for credit losses by 15 percent.

JPMorgan Chase stock is currently trading at $49.23, down 0.16 percent. It is trading above its 20 days moving average price of $49.10 but below its 50 days moving average price of $49.25. The stock oscillated in the range of $48.45 and $49.53 in the current trading session. JPMorgan Chase has its Price Earnings ratio at 9.46. The stock commands the market capitalization of $188.31 billion and its stock is trading at the beta of 1.35.

J.C. Penney Company Inc. (NYSE:JCP): Its stock traded in the range of $14.24 and $15.03 in the current trading session and at this point is at $14.42, down 3.03 percent. The stock’s highest price point of 52 weeks stands at $36.89 while its lowest price point is at $13.55. J.C. Penney stock is trading at beta of 1.82, implying high volatility. The company commands market capitalization of $3.19 billion. The apparel company announced the appointment of Blackstone Group as its financial advisor. It is undergoing restructuring as it ousted its CEO Ron Johnson. J.C. Penney also announced that Pershing Square Capital Management, one of its key investors, has decided to infuse more capital to revitalize the company. The company is rumored to be looking at $1 billion worth of investment for its turnaround.

Timken Co. (NYSE:TKR): The company acquired Smith Services. The financial terms and conditions of the deal have not been disclosed. The new acquisition will help Timken to augment its industrial service portfolio. Smith Services earned $17 million in revenue for the year 2012. The stock is trading 1.18 percent lower, at $54.40. The company has traded 46k shares in the current trading sessions so far and its stock has traded in the range of $32.59 and $58.50 in the past 52 weeks. Its usual trading volume stands at 748k shares. The company stock’s beta is 2.12, making it a highly volatile stock. Timken’s P/E ratio stands at 10.72. It had reported its latest Earnings per Share at $5.07. The company develops and markets steel products and mechanical components. It sells its products through authorized distributors and sales organizations. Timken is based out of Ohio and was established in 1899.

Life Technologies Corporation (NASDAQ:LIFE): The stock is trading 0.06 percent higher, at $66.85. The company has traded 1.049 million shares in the current trading sessions so far and its stock has traded in the range of $39.73 and $67.92 in the past 52 weeks. It announced acquisition of KDR Biotech Co. Both the companies have been collaborating since 1982. The financial terms and conditions of the deal have not been disclosed. Life Technologies expect the acquisition to boost its customer relationship in Asia and Pacific geographical area. The company stock is highly volatile as its beta is 1.27, while its P/E ratio stands at 27.82. It had reported its latest Earnings per Share at $2.40. Life Technologies commands market capitalization of $11.39 billion. It deals in life science technologies and provides research consumables and diagnostic solutions. Life Technologies is based out of California and was established in 1987.

Bankrate Inc. (NYSE:RATE): The stock shot up after receiving rating upgrade from Stifel Nicolaus. Its new rating stands at Buy, up from previous rating of Hold. The company stock is currently trading at $12.94, up 7.94 percent from its previous close of $11.96. The stock had opened at $12.84 and has traded in the range of $12.44 and $13.31 in the current trading session. It has traded 999k shares as of now. Bankrate commands market capitalization of $1.28 billion and its Price Earnings ratio is 44.14. The stock is currently in the bullish mode as it is trading above its 20 days moving average price and 50 days moving average price of $12.84 and $12.78. the company provides online personal finance services. It is based out of Florida and was established in 1993.

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