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Starbucks (SBUX | Quote | Chart | News | PowerRating)
was in-line; same store sales rose 4% in July, less than expected. The company
also announced an additional 25 million share buyback.
Ingersoll Rand (IR | Quote | Chart | News | PowerRating) raised its dividend 12.5% and said it would
accelerate its share buyback program.
Leapfrog (LF | Quote | Chart | News | PowerRating) missed by $0.16.
WellCare Group (WCG | Quote | Chart | News | PowerRating) beat by $0.07.
Traders are talking about Cuba, and what happens when the country eventually becomes a free, market based economy.
Some themes to watch longer-term:
Hotels: Take a look at Hilton (HLT | Quote | Chart | News | PowerRating), which rallied yesterday and today. Tourism from the U.S. could expand greatly.
Sugar: Processor Imperial Sugar Company (IPSU | Quote | Chart | News | PowerRating) rallied today. Cuba was once the world's largest exporter of sugar but since the Soviet Union collapsed in 1990, harvests have been a fraction of what they used to be.
Cruise lines: Royal Caribbean (RCL | Quote | Chart | News | PowerRating).
And don't forget about oil--which was discovered in the North Cuba Basin, and the Varadero Oil Field currently supplies about 40% of Cuba's needs.
Keep in mind, though, that the U.S. has had a trade embargo with Cuba since 1961, and just yesterday White Houses spokesman Tony Snow said that "there are no plans to reach out'' to Cuba now.
Brice Wightman
PowerRatings are courtesy of PowerRatings.Net
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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