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Daily Dividend Report: PM, CVS, TGT, APA, SWY
11 Mar 2010 at 4:08pm
This morning, Philip Morris International (PM) declared its quarterly dividend of 58 cents per share, maintaining the amount paid last quarter. Based on the current stock price, investors can expect a yield of about 4.7% going forward.
Sector Wrap: Technology, Energy, Financials
11 Mar 2010 at 3:58pm
The broader indices have traded in a tight range all week as there has been little corporate or economic data to move the major averages. On the week, the Dow is trading flat, the S&P 500 is trading up one half of one percent and the Nasdaq has gained the most, up 1.3% so far.
Thursday's ETF Movers: ROB, IIH
11 Mar 2010 at 3:22pm
In midday trading Thursday, the Claymore Luxury Goods ETF (ROB) is outperforming other ETFs, up about 1.4% on the day. Components of that ETF showing particular strength include shares of Orient-express Hotels Limited (OEH), up about 3.8% and shares of Luxottica Group (LUX), up about 1.4% on the day.
Thursday Midday Sector Leaders: Communication Services, Railroads
11 Mar 2010 at 3:12pm
In midday trading Thursday, Communication Services shares were relative leaders, up on the day by about 1%. Leading the group were shares of Terrestar (TSTR), up about 22.8% and shares of GeoEye (GEOY) up about 16.9% on the day.
Thursday Midday Sector Laggards: Air Services, Luxury Goods
11 Mar 2010 at 3:02pm
In midday trading Thursday, Air Services shares were relative laggards, down on the day by about 2.3%. Helping drag down the group were shares of Transat (TRZ.
Financial Firms Shopping For Deals
11 Mar 2010 at 2:42pm
After Barclays announced yesterday that it was looking to acquire a US regional bank, investors saw shares of Fifth Third (FITB), SunTrust (STI) and Regions Financial (RF) post sizable gains. Today, however, asset management firms will have the spotlight.
Today's Big Gainers: SNV, ES, GEOY, EPL
11 Mar 2010 at 2:32pm
Synovus (SNV) Chairman and Chief Executive Officer Richard Anthony is presenting at Citis (C) 2010 Financial Services Conference today. The company, which has received TARP funds, hopes to become profitable this year.
Today's Big Losers: CNK, CSR, WG
11 Mar 2010 at 2:12pm
Cinemark Holdings (CNK), announced the completion of the Digital Cinema Implementation Partners financing transactions, which are expected to cover the cost of conversion for a large portion of the Companys US screens. The company said their immediate focus will be on 3D deployments Following the 3D roll-out, they will begin the full digital conversion of theatres.
Downgrades: YHOO, BBBY
11 Mar 2010 at 12:38pm
This morning, Benchmark downgraded shares of Yahoo! (YHOO) from Buy to Hold calling the stock a value trap. While shares could appear attractive at these levels, the firm warns that further losses in market share to Google and Microsoft could make the stock overvalued.
Upgrades: UNM, BA, VECO
11 Mar 2010 at 12:22pm
This morning, Goldman Sachs initiated coverage on shares of the Unum Group (UNM) with a Buy rating. The firm believes Unum is well positioned in the sector for long term growth and as an added value to shareholders, Goldman believes a buyback program could be announced soon.
Exxon Mobil Announces Capex Plans for 2010
11 Mar 2010 at 12:18pm
Exxon Mobil (XOM) revealed its capital expenditures plans for 2010. In an analyst meeting, the oil giant said it will spend about $27 billion in 2010 on capital projects, $1 billion more than it spent in 2009.
Smithfield Swings to a Profit
11 Mar 2010 at 12:02pm
Smithfield Foods (SFD) swung to a profit for a third quarter, as the company fought back from a loss due to a weak economy and high feed costs. Smithfield earned $37.3 million, or 22 cents per share, as compared to a loss of $105.7 million, or 74 cents per share, in the same quarter last year.
Sony Unveils Motion-Control System for PlayStation
11 Mar 2010 at 11:52am
Sony (SNE) has unveiled a new video game control system that allows players to play games with their body movements, called PlayStation Move. The new control system which challenges Nintendos motion-controlled Wii will be available later in the year.
ING Downgrades ArcelorMittal
11 Mar 2010 at 11:48am
There is another call on the steel sector for ING this morning. ING downgraded ArcelorMittal (MT) stock from Buy to Hold today, ING said it sees price increases on the horizon for raw materials iron ore and coking coal of as much as 35 percent.
Stocks to Watch: Gymboree, Men's Wearhouse
11 Mar 2010 at 11:32am
Keep an eye on retail stocks Gymboree (GYMB) and Mens Wearhouse (MW) today, after both announced earnings last night that could impact their trade today. Childrens clothing retailer Gymboree announced an earnings increase of 13 percent in its fourth quarter, to $33.2 million, or $1.11 per share.
FuelCell Shares Trade Higher on New Subcontract
11 Mar 2010 at 11:22am
FuelCell Energy (FCEL) shares are trading higher Thursday after the company announced late yesterday it won a $2.1 million subcontract from Air Products (APD). FuelCell will incorporate its clean energy technology into a hydrogen fueling station that Air Products is developing.
Carlos Slim Tops Forbes Billionaire List
11 Mar 2010 at 11:02am
Carlos Slim Helu has toppled Bill Gates from the head of the Forbes annual billionaire rankings. Slim, whose fortune is based in the Mexican telecom industry, is worth $53.5 billion, an increase of $18.5 billion over last years rankings.
BP Enters Brazil Market with Devon Acquisition
11 Mar 2010 at 10:48am
BP (BP) said it is acquiring a bundle of assets from Devon Energy (DVN), which will marks its entry into Brazil. BP said it will pay $7 billion for stakes in 10 exploration blocks in Brazil, 240 leases in the Gulf of Mexico, and a 5.63 percent stake in Azerbaijan assets, of which it already holds 39.77 percent.
OPEC Hikes Oil Demand Projections
10 Mar 2010 at 4:02pm
The Organization of Petroleum Exporting Countries released a report today projecting that world oil demand would rise to nearly 900,000 barrels per day this year. Thats 100,000 barrels more in demand than it projected in February.
Daily Dividend Report: OLP, HNZ, VGR, BKCC, SPLS
10 Mar 2010 at 3:58pm
After the bell yesterday, One Liberty Properties (OLP) declared its quarterly dividend of of thirty cents per share, an increase of about 36% over its prior dividend. Notable about this dividend is the company's decision to pay shareholders in cash instead of a combination of shares and cash that was so common in 2009.
Wednesday Midday Sector Laggards: Machine Tools, Gold Stocks
10 Mar 2010 at 3:28pm
In midday trading Wednesday, Machine Tools shares were relative laggards, down on the day by about 1.3%. Helping drag down the group were shares of Flow International (FLOW), down about 9.8% and shares of Exco Tech Limited (XTC.
Wednesday's ETF Movers: FBT, GDX
10 Mar 2010 at 3:22pm
In midday trading Wednesday, the First Trust Biotech ETF (FBT) is outperforming other ETFs, up about 3.3% on the day. Components of that ETF showing particular strength include shares of Intermune (ITMN), up about 64.4% and shares of Amylin Pharmaceuticals (AMLN), up about 4.9% on the day.
Wednesday Midday Sector Leaders: Department Stores, Airlines
10 Mar 2010 at 3:18pm
In midday trading Wednesday, Department Stores shares were relative leaders, up on the day by about 2.6%. Leading the group were shares of Bon Ton Stores (BONT), up about 10.8% and shares of Cost Plus (CPWM) up about 7.9% on the day.
Downgrades: JCG, CVX, DOW
10 Mar 2010 at 2:52pm
This morning, Citigroup downgraded shares of J. Crew (JCG) from Buy to Hold as the stock has climbed more than twenty percent over the last month.
Today's Big Losers: ABVT, PSS, NAV, TRK
10 Mar 2010 at 2:28pm
AboveNet (ABVT) posted revenue in the fourth quarter of $94.3 million, an increase of $4.5 million, or 5%, compared to the fourth quarter of 2008. Operating income was $23.5 million compared to $25.3 million for the fourth quarter of 2008.
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