U.S. Hot Stocks: Hot Stocks to Watch

   By Maria Armental 
 

Among the companies with shares expected to trade actively in Thursday's session are J.P. Morgan Chase & Co. (JPM), Delta Air Lines Inc. (DAL), Yum Brands Inc. (YUM) and Coach Inc. (COH).

J.P. Morgan posted stronger-than-expected second-quarter earnings and a surprise increase in revenue, driven by a surge in its trading business and lower expenses. Shares rose 2.8% to $64.90 in premarket trading.

Delta on Thursday said it has decided to reduce its U.S.-U.K. capacity on its winter schedule because of additional foreign currency headwinds from the steep drop in the British pound and the economic uncertainty from Brexit. The No. 2 air carrier by traffic announced the reduction with its results for the June quarter. In the quarter, earnings rose a better-than-expected 4.1%, but revenue fell more than analysts anticipated. Shares rose 0.6% to $39.78.

Yum Brands on Wednesday raised its projection for core operating profit growth, citing the rebound of its China business during the first half of the year. The company said it expects to complete the spinoff by Oct. 31. Shares rose 3.9% to $89.10.

Handbag retailer Coach on Thursday said it named a new head of its Stuart Weitzman division, bringing in Wendy Kahn from Valentino Fashion Group and marking the latest management change as the company continues reshape itself. Shares fell 3% to $40.75.

BlackRock Inc. (BLK) said Thursday that net inflows to fixed-income products helped boost its assets under management in the latest quarter to a record high, even as profit fell for the world's largest money manager. Shares fell 1.3% to $353.

Cree Inc. (CREE) agreed tp sell its North Carolina-based company Wolfspeed to German chip maker Infineon Technologies AG for $850 million in cash. Cree shares rose 9.5% to $27.46.

CSX Corp.'s (CSX) revenue fell 12% in the second quarter as lower coal shipments--a key business for freight lines--continued to pressure the railroad operator. Shares fell 0.7% to $28.

Devon Energy Corp. (DVN) said Thursday that it will sell its 50% ownership stake in Access Pipeline to Wolf Midstream Inc. for C$1.4 billion (US$1.1 billion). Shares rose 2.1% to $39.80.

Omnicom Group Inc. (OMC) reported its earnings in the most-recent quarter rose above analysts' expectations, although a small rise in revenue fell just short of expectations, hurt by foreign exchange rates. Shares fell 1.7% to $83.50.

--George Stahl contributed to this article.

Write to Maria Armental at [e-mail]

(END) Dow Jones Newswires

July 14, 2016 09:33 ET (13:33 GMT)

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