Upbeat Stocks At Street: Wells Fargo & Company (NYSE:WFC), AMC Entertainment Holdings, Inc. (NYSE:AMC), CBS Corporation (NYSE:CBS)

July 15, 2015 9:15 am0 commentsViews: 660

Wells Fargo & Company (NYSE:WFC) released that its Q2 net income applicable to common stock dropped to $5.36B from $5.42B in the similar quarter previous year. EPS for the latest quarter were $1.03, increased from $1.01 in the Q2 of 2014. Analysts polled by Thomson Reuters expected the company to report earnings of $1.03 per share for the quarter. Analysts’ estimates typically exclude special items. Net interest income for the quarter grew to $11.27 billion from $10.79 billion in the prior year, while total non-interest income declined to $10.05 billion from $10.28 billion last year. Chief Financial Officer John Shrewsberry said, “Wells Fargo’s second quarter results once again reflected the benefit of our balanced business model. Compared with the first quarter, revenue increased on net interest income growth and expenses declined. Our balance sheet remained strong, as evidenced by solid asset quality, liquidity and capital, and we were within our targeted ranges for ROA, ROE and efficiency.” Shares of Wells Fargo & Company (NYSE:WFC) traded at $57.25 by surging 0.90% with price volatility of 1.44% for a week and 1.15% for a month. Its beta stands at 1.00 times.

AMC Entertainment Holdings, Inc. (NYSE:AMC) and privately-held Starplex Cinemas have signed into a definitive buy contract for AMC to takeover Starplex for $172M in cash, subject to working capital as well as other adjustments. When completed, AMC will operate 380 theatres with 5,300 screens. The acquisition will expand AMC’s ability to deliver an exceptional movie experience to more movie-goers. The transaction is expected to lead to earnings-per-share, EBITDA and cash flow accretion, exclusive of one-time transaction-related charges, in 2016 and beyond. AMC Entertainment Holdings, Inc. (NYSE:AMC) stock hit highest price at $32.83, beginning with a price of $32.00 and reported an advance of 2.51% to the closed at $32.64 with a day range of $31.84-$32.83. The total market capitalization remained 3.17 Billion, total volume of 306320 shares held in the session was surprisingly higher than its average volume of 257.47 shares.

CBS Corporation (NYSE:CBS) and E.W. Scripps Co. (SSP) have reached a new three-year affiliation contract for WTVF, the top-rated local television station in Nashville. Scripps purchased WTVF in April at what time it merged its broadcast assets with those of the former Journal Communications. It also acquired a second CBS-affiliated station – KMTV in Omaha, Nebraska, whose affiliation agreement expires in mid-2016. It was 1996 when Scripps last had a CBS-affiliated TV station. CBS Corporation (NYSE:CBS) stock has highest price of $55.89 in last session, beginning with a price of $55.44 and reported a decrease of -0.25% to the closed at $55.40 with a day range of $55.18-$55.89. The stock is going forward its 52-week low with 14.34% and moving down from its 52 week high price with -13.16%.

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