Wednesday, June 8, 2011

Focus Stocks: MCP, SPWRA, MCD, XOM

Molycorp, Inc. (NYSE: MCP) slumped more than 5% in Wednesday's pre-market trading after the company announced that, subject to market conditions, certain of its selling stockholders intend to offer 10,000,000 shares of Molycorp's common stock in a registered public offering. In addition, the selling stockholders intend to grant the underwriters of the Common Stock an option to purchase an additional 1,500,000 shares of the Common Stock.

SunPower Corp. (NASDAQ: SPWRA) late Tuesday slashed its 2011 earnings outlook citing pricing pressure and a shift from utility-scale projects in Italy. However, the second-largest U.S. solar panel maker raised its second-quarter revenue outlook and said the U.S. will be its biggest market for the next few years. SunPower cut its gross margin guidance for fiscal 2011 to 15 percent to 17 percent from a previous range of 20 percent to 22 percent and raised its second-quarter revenue outlook to $550 million to $600 million from a previous $475 million to $525 million. The company sees annual adjusted profit of $1.20 to $1.70 a share.

McDonald's Corp. (NYSE: MCD) said Wednesday that its global comparable sales at all restaurants in operation at least 13 months climbed 3.1% in May. Sales rose 2.4% in the U.S., up 2.3% in Europe and gained 4.3% in Asia, Middle East and Africa. 

Exxon Mobil Corporation (NYSE: XOM) on Wednesday announced two major oil discoveries and a gas discovery in the deepwater Gulf of Mexico after drilling the company's first post-moratorium deepwater exploration well.

Full Disclosure: None.
Related Posts with Thumbnails

Wikinvest Wire