Traders Buzz: Nokia Corporation, Bank of America Corp, Rite Aid Corporation, General Electric Company


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NYSE:NOK / NYSE:BAC
04/25/2013 [ACCESSWIRE]

NEW YORK, April 25, 2013 -Bestdarnpennystocks.com, one of the leaders in providing investment alerts on U.S. stocks are announcing Investment Highlights on Nokia Corporation, Bank of America Corp, Rite Aid Corporation, General Electric Company.

Nokia Corporation (ADR)(NYSE:NOK) shares increased 3.91% to $3.33. The company on April 25 declared the roll-out of the new Asha 210 phone. It happens to be the very device that was shown on the website of the company a few days back.

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Additionally, the company, on April 18, announced its earnings results. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.04) by $0.02. The company had revenue of $5.85 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same quarter in the prior year, the company posted ($0.08) earnings per share. The company’s quarterly revenue was down 20.4% on a
year-over-year basis.

Bank of America Corp(NYSE:BAC) shares increased 1.32% to $12.48. The company on April 17 reported a lower-than-expected first-quarter profit and its revenue fell.

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Net income increased to $2.62 billion, or 20 cents per share, from $653 million, or 3 cents per share in the same period a year earlier. Adjusted revenue fell 8.4% to $23.85 billion. Revenue from the fixed income, currency and commodities markets fell $829 million to $3.3 billion. Analysts had expected BofA to earn 22 cents per share.
Additionally, Morgan Stanley reported on April 23 that it has raised its rating on financial services company, Bank of America Corp (BAC). The firm has upgraded BAC from an “Equal-weight” to an “Overweight,” and
has raised the company’s price target from $13 to $16.

Rite Aid Corporation (NYSE:RAD) shares gained 0.97% to $2.61. Goldman Sachs analyst Matthew J. Fassler reiterated a Neutral rating on Rite Aid on April 15, and slightly raised the price target from $1.75 to $2.60.

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For the quarter ended March 2, Rite Aid reported a profit of $123.1 million, or 13 cents a share, compared with a year-earlier loss of $161.3 million, or 18 cents a share. Analysts most recently projected a loss of two cents. The company previously reported that total drugstore sales fell 9.7% to $6.46 billion.

General Electric Company(NYSE:GE) shares increased 0.38% to $22.04. The company’s shareholders rejected a proposal on April 24 to split the roles of chairman and chief executive, jobs currently held by Jeff Immelt. The
proposal from the American Federation of State, County and Municipal Employees (AFSCME) pension plan failed at the company's annual shareholder meeting in New Orleans, receiving roughly 25 percent of shares voted.

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Additionally, the company, on April 19, said its first-quarter revenue beat Wall Street expectations, assuaging fears of a miss after a lukewarm report on March U.S. factory activity.

The company said revenue rose slightly to $35 billion, surpassing the $34.51 billion analysts had expected. The company said it earned $3.53 billion, or 34 cents per share, in the quarter, compared with $3.03 billion, or 29 cents per share, a year earlier. Adjusted profit was 35 cents per share, matching analysts' average forecast. 

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