Here’s a look at some of the stocks the Yahoo Finance team will be watching for you today. Earnings continue to dominate the headlines.
Verizon (VZ) stock fell this morning after it reported a miss on both its top and bottom lines for the first quarter. Revenue fell more than 7% from a year ago as it lost monthly wireless subscribers for the first time despite the re-launch of its unlimited data plans. In the spirit of full disclosure, our parent company Yahoo plans to close its deal with Verizon at the end of June.
Qualcomm (QCOM) shares were higher in early trading. The chipmaker delivered better-than-expected earnings and revenue for last quarter. Revenue rose 9% to $6 billion from a year ago. However, guidance for the current quarter was a bit tepid on concerns over royalty payments being withheld by Apple (AAPL) in a legal dispute with the tech giant.
Starbucks (SBUX) stock was higher this morning. Stifel Nicolaus upgraded the stock to buy from hold. The firm expects same-store sales growth to accelerate to at least 5% to 6% for the next four quarters.
Gap (GPS) shares got a nice lift in early trading after JP Morgan upgraded the stock to neutral from underweight and raised its price target by $3 to $24 a share. The investment firm sees stability in the retailer’s Old Navy stores and limited downside risk to overall earnings.