Welcome to John Ransom’s Stocks in the News where the headlines meet the trendlines.
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Stock number one: Freeport-McMoRan Inc.
Freeport’s Profit Declines-- Wall Street Journal
Freeport-McMoRan Inc. on Tuesday said its third-quarter earnings fell 32%, as weaker average prices for copper, gold and oil weighed on revenue.
Phoenix-based Freeport reported a profit of $562 million, or 53 cents a share, down from $830 million, or 79 cents a share, a year earlier. The latest period included net charges of 11 cents a share for items such as accounting adjustments and asset sales gains.
Symbol: FCX
Trailing PE: 12; Forward PE: 11
PEG: .0.34
Dividend: 4.10
Estimate Trend: NA
Ransom Note Trendline: Buy Freeport McMoran.
Stock number two: Alcoa Inc.
Judge hears NC challenge to Alcoa's rights to dams --Associated Press
A dispute between North Carolina officials and Alcoa Inc. over the right to control the water and electricity coming from the state's second-largest river system was set to go before a federal judge Wednesday.
Symbol: AA
Trailing PE: NA; Forward PE: 17
PEG: 0.43
Dividend: 0.70%
Estimate Trend: Up
Ransom Note Trendline: Sell Alcoa
Stock number three: Garmin Ltd.
Garmin Earnings Get Boost From Fitness, Aviation Revenues -- 24/7 Wall Street
Garmin Ltd. (GRMN) reported its third-quarter results Wednesday before the market opened as $0.76 in earnings per share and $706 million in revenue. Thomson Reuters had consensus estimates of $0.71 in earnings per share and $677.35 million in revenue for the quarter. In the third quarter of the previous year, Garmin reported $0.69 in earnings per share and $643.64 million in revenue.
Symbol: GRMN
Trailing PE: 16; Forward PE: 18
PEG: 2.74
Dividend: 3.50%
Estimate Trend: NA
Ransom Note Trendline: Sell Garmin