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7 Stocks To Know For Wednesday: CIENA, Texas Instruments, Banco Santander, Applied Materials, Potash, Pall, Nokia

By Daily Markets on | More Posts By | Stock Market Blog
  • Spain’s largest bank Banco Santander (NYSE:STD) agrees to pay $2.5 billion in cash to purchase a 24.9% stake in its Mexican unit that it sold to Bank of America (NYSE:BAC) in 2003, thus raising its stake in the Mexican division to almost 100%. With this acquisition, earnings per share will increase by 1.3% in the first year.
  • The world’s largest online retailer Amazon.com (NASDAQ:AMZN) was sued by the maker of “Smarties” candies, which wants the retailer to stop selling its products.
  • CIENA’s (NASDAQ:CIEN) third-quarter sales forecast beats analysts’ estimates. Its shares rose more than 8.5% to $15.03.
  • America’s second largest chipmaker Texas Instruments (NYSE:TXN) boosted guidance in its mid-quarter update. UBS is setting a $25 price target for the company. This move may lead other chipmakers higher. Its stock is 1.5% higher in early Wednesday trading. Chipmaker giant Intel (NASDAQ:INTC) shares are 0.5% higher, NVIDIA (NASDAQ:NVDA) shares are more than 1% higher in morning trading.
  • Applied Materials (NASDAQ:AMAT) Wednesday announced that a quarterly cash dividend of $0.07 per share payable on the company’s common stock.
  • As Apple (NASDAQ:AAPL) gains market share in smartphone, Nokia (NYSE:NOK) suffers. Nokia’s dominant market share is at risk of being eroded in Europe.
  • Potash Corp. of Saskatchewan (NYSE:POT) rose 2% to $96.17 in early Wednesday trading. Chief Financial Officer Wayne Brownlee said the company expects Chinese potash consumption to normalize in 2011.
  • Biopharmaceutical company Pall (NYSE:PLL) said full-year earnings will likely come in at the high end of its previous forecast for earnings between $1.95 and $2.05 a share. Its shares are up 10% in early trading.

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