CIT Group Inc. (NYSE:CIT) Today’s Top NYSE Stock To watch
Johnson & Johnson (NYSE:JNJ) And Yum! Brands, Inc. (NYSE:YUM) Is Expected To See Active Trading In Today’s Market
Dallas, TX 7/14/2009 12:10 PM GMT (TransWorldNews)
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CIT Group Inc. (NYSE:CIT), the century-old lender, may receive assistance from the US government to prevent a collapse that could hurt hundreds of thousands of corporate borrowers, the Wall Street Journal reported on July 14, 2009. CIT Group officials spent the weekend trying to work out a plan to assure clients and investors it can work its way out of a deepening liquidity crunch. Stocks of CIT Group plunged 12% yesterday on the New York Stock Exchange amid growing concern the company won't be able to meet nearly $3-billion (U.S.) worth of coming debt payments and will have to file for Chapter 11 protection. Yesterday, the stock closed at $1.35.
Johnson & Johnson (NYSE:JNJ) is expected to announce its moderately lower 2Q2009 earnings on July 14, 2009, before the market opens, due in part to the recent loss of market exclusivity for its popular Topamax drug and slowed sales of consumer products. The company is expected to announce 2Q2009 earnings of $1.11 a share, according to analysts surveyed by Thomson Reuters. According to a poll of analysts by FactSet Research, Wall Street is looking for J&J, to post earnings of $1.11 a share, down from the $1.26 a share earned in the three months ended June 30, 2008. Quarterly revenue is projected to be largely flat on a year-over-year basis, at $15 billion. The stock closed at $57.72 in the last trading session.
Yum! Brands, Inc. (NYSE:YUM) is expected to reports earnings for the fiscal 2Q2009 on Tuesday, July 14, 2009. The Wall Street analysts having a consensus earnings estimate for Yum! Brands of $0.43 per share, on revenues of $2.50 billion, lower than the previous year's earnings of $0.45 per share and revenues of $2.65 billion. For the full year 2009, Yum! Brands said it still expects earnings of $2.10 per share or 10% growth, excluding special items. The stock closed at $35.67 yesterday.
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