» » 7 Stocks To Know For Thursday: JPMorgan, Ebay, Abercrombie & Fitch, Ross Stores, Joy Global, BP, Ford
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7 Stocks To Know For Thursday: JPMorgan, Ebay, Abercrombie & Fitch, Ross Stores, Joy Global, BP, Ford

By Daily Markets on | More Posts By | Stock Market Blog
  • BP (NYSE:BP) (BP.L) shares are up in early Thursday trading. Both Fitch and Moody’s (NYSE:MCO) drop BP rating on Thursday, citing the extreme financial risks associated with the Gulf oil spill. They say further downgrades are possible.
  • JPMorgan (NYSE:JPM) has been fined a record 33.32 million pounds ($49.12 million) by UK’s Financial Services Authority (FSA) for failing to segregate customer funds held by its futures and options business with JPMorgan Chase Bank after the merger of JP Morgan & Co and Chase Manhattan Corporation in 2000.
  • Abercrombie & Fitch (NYSE:ANF) shares rose nearly 5% in early trading after announcing that total sales rose 10% to $198 million. However, its May same-store sales declined 3%, more than the average forecast for a drop of 2.3%.
  • eBay (NASDAQ:EBAY) was upgraded at MKM from Sell to Neutral. Since earnings, the stock has fallen 19%, and there shouldn’t be any further potential negative catalysts. Its shares are up nearly 2% in early trading.
  • Ross Stores (NASDAQ:ROST) reports same-store sales for May rose 5%, surpassing analysts’ forecast for a gain of 4%. Ross Stores said total sales rose 9% to $614 million. Its shares rose more than 5%.
  • Ford (NYSE:F) announced late Wednesday that it will phase out its Mercury brand later this year, thus allowing the automaker to concentrate on its Ford brand and its Lincoln division. Its shares rose more than 2% in early Thursday trading.
  • Maker of mining equipment Joy Global (JYG) rose 9.2% to $57.25 in early trading after the company increased the profit forecast for 2010 to as much as $4 a share, compared with analysts’ estimate of $3.11 a share.

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