Stocks to Watch: Wendy's, Disney (Update 1)
NEW YORK -- Wendy's
Excluding items, earnings in the latest quarter were 1 cent a share.
The fast food chain's first-quarter sales were $519.9 million, up from $509.3 million a year earlier.
Analysts, on average, expected first-quarter profit of 3 cents a share on sales of $608 million.
Wendy's lowered its 2012 outlook for adjusted earnings before interest, taxes, depreciation and amortization to a range of between $320 million and $335 million. Previously, the company anticipated adjusted EBITDA of between $335 million and $345 million. Wendy's cited weaker-than-expected sales and margins.
Shares of Wendy's fell 4.52% in premarket trading Tuesday to $4.65.
Deutsche Bank has a buy rating on the media and entertainment giant and recently raised its price target to $56 from $53.
Shares of Disney ticked up 13 cents, or 0.3%, in premarket trading Tuesday to $43.95. The stock has risen nearly 15% year to date.
The cloud hosting company reported first-quarter earnings of $23.2 million, or 17 cents a share, up from year-earlier earnings of $13.8 million, or 10 cents a share. Analysts, on average, expected earnings of 18 cents a share.
Rackspace said currency rates hurt the company's first-quarter revenue by $2 million.
Shares of Rackspace fell 11.92% in premarket trading Tuesday to $50.91.
Shares of DirecTV rose 2.01% in premarket trading Tuesday to $48.87.
McDonald's shares ticked down 11 cents, or 0.12%, to $95.40 in premarket trading Tuesday.
HSBC is Europe's biggest bank.
HSBC shares ticked up 31 cents, or 0.69%, to $45.38 in premarket trading Tuesday.
The video game company's estimated first-quarter loss is slated to be between 40 cents a share and 45 cents a share; analysts expected a loss of 33 cents.
Shares of Electronic Arts fell 12 cents, or 0.79%, in premarket trading Tuesday to $15.01.
-- Written by Joseph Woelfel
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