Stocks To Watch For June 17

Some of the stocks that may grab investor focus today are: Research In Motion Limited RIMM cut its earnings forecast for the year and announced its plans to cut an unspecified number of jobs. RIMM reported its quarterly net income at $695 million, or $1.33 per share, versus a net income of $769 million, or $1.38 per share, in the year-ago period. Its revenue surged 16% to $4.9 billion. Analysts were expecting earnings of $1.32 per share on revenue of $5.15 billion. The company shipped 13.2 million smartphone units and 500,000 units of its new Playbook tablet. Analysts were expecting smartphone shipments of 13.3 million and Playbook shipments of 436,000. For the fiscal year ending next February, RIMM now projects earnings in the range of $5.25 to $6 per share, down from its earlier forecast of $7.50 per share. Analysts expected earnings of $6.31 per share. RIMM shares dipped 14.35% to $30.26 in after-hours trading. Capital One Financial Corp COF agreed to purchase ING Direct from ING Groep NV ING for $9 billion in cash and stock. COF shares dropped 0.10% to $48.95 in after-hours trading, while ING shares jumped 3.99% to $11.74 in the after-hours trading session. Lender Processing Services Inc LPS issued a weaker-than-expected quarterly forecast. LPS now projects FQ2 adjusted earnings of $0.54 to $0.56 per share, down from analysts' estimates of $0.80 per share in the period. LPS shares tumbled 10.14% to $21.00 in the after-hours trading session. Shares of Pandora Media Inc P dropped below its initial public offering price on its second day of trading. Shares of Pandora Media dipped 23.88% to $13.26 in regular trading yesterday on the NYSE after surging 8.9% on Wednesday. Pandora Media raised $234.9 million in an IPO on Wednesday. Pandora Media shares dropped another 4.07% to $12.72 in after-hours trading. Culp Inc CFI reported its Q4 net income at $6.0 million, or $0.45 per share, versus a net income of $5.4 million, or $0.41 per share, in the year-ago quarter. The latest quarter net income includes a 1.3 million income tax benefit. Culp's net sales surged 5.5% y/y to $60.4 million, from $57.2 million. Analysts were expecting earnings of $0.25 per share on revenue of $55.10 million. The company also announced a $5.0 million share buyback program. Culp shares gained 6.77% to $8.20 in after-hours trading. Trading Ideas.