News Update: Goldman Sachs (NYSE:GS) Rejects Shareholder Demands for Compensation Reform TradeTheTrend 2026-09-19 | News Update: Goldman Sachs (NYSE:GS) Rejects Shareholder Demands for Compensation Reform
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Urban Outfitters Sees Better Fourth Quarter Sales; Sparks Catalogue Controversy TradeTheTrend 2012-12-12 | Urban Outfitters (NASDAQ:URBN) in the news after it announced yesterday its fourth-quarter same-store sales are up as the holiday season continues. So far, numbers indicate a percentage increase in the high single digits, which is a good thing after the company posted third quarter results in November that fell just short of expectations. This isn't the only thing in the news though. Apparently the store's catalogue, which features a few f-bombs and other profanity on some of its products, is sparking some controversy. Although many parents and shoppers might be upset about this, business professionals see it as a great marketing ploy and also some great free advertising on news outlets like this one.
SolarCity Lowers Pricing on IPO TradeTheTrend 2012-12-12 | SolarCity Corp, the top U.S. installer of residential solar systems, is delaying its initial public offering. The company said it is expecting a lower pricing and will be offering more shares in the IPO.SolarCity now expects to sell 11.5 million at $8 each, 1.4 million more than originally planned. The stock was also going to be sold around $13 to $15 each, bring the valuation at nearly $1 billion. But with the new pricing, the IPO will be cut in half to about $585 million.This is more bad news for the renewable energy sector, a business segment that's been plagued with failures such as Solyndra and the recent A123 Systems bankruptcy.But, if all goes according to plan, SolarCity could be priced on this Wednesday night with trading set to begin Thursday on the Nasdaq.
Fed Could Announce New Stimulus TradeTheTrend 2012-12-12 | More stimulus could be coming from the U.S. Federal Reserve today, as it is set to announce a new round of bond buying. Many expect the Fed to expand on its current plan by buying $45 billion of U.S. debt a month to help sustain the struggling U.S. economy.World equities and commodities are higher so far today due to this expected news as well as higher futures on Wall Street, which will put it in a sixth day of gains. The Fed's decision is due at 12:30 p.m. eastern time, with a Ben Bernanke news conference a little after 2 p.m. eastern. Although this is the biggest news in the financial world today, the focus will most likely go back to the fiscal cliff talks. So far, it still seems that democrats and republicans are in a stalemate even as both sides have exchanged new proposals on the matter.
Joy Global Reports Good Fourth Quarter Earnings, Negative on Outlook TradeTheTrend 2012-12-12 | Joy Global (NYSE:JOY) seeing green during the fourth quarter. The company reported its earnings this morning, posting earnings per share of $1.94, higher than the $1.87 analysts were expecting. Revenue for the quarter also rose 19 percent to $1.59 billion, higher than the Wall Street estimate of $1.42 billion. Even though the mining company did well, it started seeing a slow down in demand for its products at the end of this year, and expects it to continue into 2013. Joy Global says the outlook continues to be weak because companies don't want to start new projects because of the sluggish economy.For the year, the company say profits of $762 million or $7.13 per share on revenue of $5.66 billion.
Costco Posts Excellent First Quarter Results TradeTheTrend 2012-12-12 | Costco (NASDAQ:COST) announcing excellent first quarter earnings going into a busy holiday season. The wholesale retailer posted earnings per share of 95 cents, higher than the 93 cents analysts were expecting. Revenue for the quarter rose 9.5 percent to $23.2 billion, but missed on the consensus estimate of $23.7 billion. The increase in revenue and EPS indicates a 30 percent rise in profits which Costco says is mostly due to higher membership fees and a rise in comparable store sales. The company also plans to give back to its stock holders by issuing a special dividend worth $7 per share.
BHP Billiton Sells Stake in Australian Project To PetroChina TradeTheTrend 2012-12-12 | BHP Billiton (NYSE:BHP) striking a deal with PetroChina over a natural gas project in Australia. The energy and mining company agreed to sell a minority stake in the project for $1.63 billion after it deemed the site a "non-strategic asset." This was due to the estimated $30 billion it would cost to build infrastructure. But PetroChina is willing to foot the bill during a time where energy companies in China are vying for foreign oil and gas supplies to meet rising demand. The sale remains in the hands of join venture partners though who, as of right now, are choosing to not exercise rights to match the offer from PetroChina.
HSBC Paying $1.9 Billion Money Laundering Settlement TradeTheTrend 2012-12-11 | HSBC (NYSE:HSBC) paying a record $1.9 billion settlement with the U.S. authorities over a money-laundering investigation. The British bank was dealing with U.S. probes for some time over money transfers it reportedly made to Mexican drug cartels, questionable Iranian sources, and others. In a statement early Tuesday, Group Chief Executive Stuart Gulliver said "We accept responsibility for our past mistakes. We have said we are profoundly sorry for them, and we do so again." HSBC has been cooperating with U.S. regulators, ending 109 banking correspondent relationships for reasons of potential money laundering risk and spent over $290 million on remedial measures. Details and specifics on the settlement have yet to be revealed.
Infinity Pharmaceuticals Soared on New Cancer Drug TradeTheTrend 2012-12-11 | Infinity Pharmaceuticals (NASDAQ:INFI) popular in today's session after shares of the company surged to their highest level in a decade yesterday. The company announced positive results from its clinical trial of its drug IPI-145, a treatment for blood cancers. This caused it's stock to increase 21.4 percent to $27.35, close to the day's peak of $27.60. The study on this new drug is not over and is still not approved for sale yet. But, Infinity says it was active against advanced blood cancers like chronic lymphocytic leukemia and Hodgkin's lymphoma, making it a very desirable drug. Infinity Pharmaceuticals could continue to rise in today's session. Premarket, its stock was up just a half a percent.
U.S. Government Selling Remaining Shares of AIG TradeTheTrend 2012-12-11 | The U.S. government is done with American International Group (NYSE:AIG). Today marks the last sale of AIG shares, with the Treasury Department selling 234.2 million shares of the insurer. The Treasury offered the shares at $32.50 each, a potential gross of $7.6 billion. AIG was bailed out back in 2008 and has been a good investment for the U.S. despite the enormous risk. In total, the U.S. government has made $22.7 billion on the insurer over the course of the past few years. At the height of the bailout, the government owned as much as 92 percent of AIG, saying the firm that insured 100,000 municipalities, retirement plans, and individual companies.
WebMD to Cut 250 Jobs to Save On Costs TradeTheTrend 2012-12-11 | Health information website WebMD (NASDAQ:WBMD) announced a slew of job cuts this morning. The company said it will be cutting 250 jobs or 14 percent of its workforce. The reason is to reduce costs in the coming years, even though it will be taking a $6 million to $8 million charge in the fourth quarter for the move, mostly due to severance pay and other restructuring. But the company believe through these cuts and plans to streamline its operations and increasing user engagement, it will save $45 million on operating costs. The job cuts will be effective at the end of the year while other planned cost saving measures will start at the beginning of 2013.
Delta Buys Large Stake in Virgin Atlantic TradeTheTrend 2012-12-11 | Delta Air Lines (NYSE:DAL) making the official announcement it will be buying a 49 percent stake in Virgin Atlantic from its owner Singapore Airlines. The deal will cost $360 million and end the Asian airline's 12-year investment in the British carrier. The new deal with give the second-largest U.S. airline more business in the U.K. and Europe and give the company Virgin's landing rights at London Heathrow airport. And with landing slots hard to come by at the international hub, it will definitely give Delta a leg up on its competition.The sale is still subject to regulatory clearance both in the United States and Europe but is expected to go through. Delta saw an almost 1.5 percent increase to its shares in premarket trading and should be climbing in today's session.
Unipixel Stock Gaining On New Business Deal TradeTheTrend 2012-12-11 | UniPixel Inc. (NASDAQ:UNXL) continuing its upward momentum today as it still rides on some good business news. The company announced Friday it reached a deal to license some of its technology for touch screen devices and other electronics to an unnamed personal computer maker.UniPixel believes the agreement will allow it to expand its business and production capacity. Definitely a good thing after the company posted a third quarter loss of $2 million or 24 cents a share a few months ago. Financial terms and the name of the PC maker were not disclosed. So far today, shares of the company gained almost 3 percent premarket and are set to continue to go higher. Yesterday, UniPixel stock soared nearly 50 percent.
AMD Could Be Cutting Jobs Amid Possibly Lower Earnings Results TradeTheTrend 2012-10-15 | Advanced Micro Devices (NYSE:AMD) could be announcing a slew of layoffs as early as next week. Bloomberg reports, citing a person with knowledge of the matter, that the chipmaker will be cuttings as many as 2,340 jobs, or about 20 percent of its workforce.The reason for the cut could be due to the decrease in the sale of personal computer which rely on AMD's processors. The cut would slim down its personnel and ultimately begin focusing more on mobile processing, something that is in high demand right now.There are various other news outlets reporting different amounts of layoffs but as of right now it seems there will be cuts, due to the company announcing it saw a 10 percent decline in sales for the third quarter. AMD fairing well though despite this news. The company stock is currently up almost 3 percent to $2.82.
Retail Sales Jump 1.1% in September TradeTheTrend 2012-10-15 | Retail sales in the U.S. rose in September, giving Wall Street some hope that the economy is continuing to recover. According to the Commerce department, sales increased by 1.1 percent, higher than what was expected.By the numbers, car sales increased by 1.3 percent, electronics were up a whopping 4.5 percent, probably due to sales of Apple's newest iPhone model, and sales at food and beverage stores were up 1.2 percent. This is also more good news for President Obama and his re-election campaign, which already had good jobless numbers last week with the unemployment rate dropping to 7.8 percent, the first time its been below 8 percent since 2009. As for retail sales going forward, they will most likely continue to rise as the holiday shopping season approaches.
Gannett Posts Better Than Expected Third Quarter Results TradeTheTrend 2012-10-15 | Gannett (NYSE:GCI) reported its third quarter earnings this morning, beating Wall Street expectations. The media company posted EPS of 56 cents, higher than the 53 cents analysts were expecting. Revenue for the quarter rose 3.4 percent to $1.31 billion, also above the average estimate of $1.29 billion. President and CEO Gracia Martore said in their press release the company saw record third quarter results for their broadcasting segment as well as continuing growth in their digital assets. She added their growth in the quarter demonstrates their new strategy they announced back in February is finally gaining traction.Investors not happy with these results though. Gannett's stock is currently down over a half a percent to $17.78.
Microsoft Announces X-Box Music TradeTheTrend 2012-10-15 | Microsoft's (NYSE:MSFT) is getting rid of its Zune music service for something different. The software company announced Xbox Music. The service will run on the company's Xbox 360 console starting Tuesday as well as Windows-based devices once Windows 8 is launched toward the end of October. Xbox Music will boast about 30 million songs, larger than Apple's (NASDAQ:AAPL) iTunes store which only has about 26 million. There will be a paid $10 a month service to stream and download music as well as a free version that will contain advertisements. Shares of Microsoft are up slightly on the news, up over a half a percent to $29.38 in early trading.
Citigroup Beats the Street on Third Quater Earnings TradeTheTrend 2012-10-15 | Citigroup (NYSE:C) reporting its third quarter earnings this morning. The bank posted EPS of $1.06, beating analyst estimates of 96 cents a share. Revenue for the quarter grew 3% to $19.4 billion, also above the street's estimate of $18.35 billion. Both these earnings figures exclude a $4.7 billion writedown of its stake in a brokerage operated by Morgan Stanley. CEO Vikram Pandit continued to assure investors of the companies success in their press release. He said their core businesses showed momentum during the quarter and said the company is managing their risk carefully given the global economic conditions.Investors liking Citigroup stock this morning. Shares of the company are up almost 2.5% to $35.63 in early trading.
Sprint Being Acquired by Softbank for $20.1 Billion TradeTheTrend 2012-10-15 | Wireless phone company Sprint (NYSE:S) is getting a new owner. 70 percent of the mobile carrier will be bought by Softbank Corp. for about $20.1 billion. The Japanese company is using the acquisition to continue its planned network expansion and customer acquisition. As part of the agreement, Softbank will pay around $12.1 billion to Sprint shareholders and will invest $8 billion of new capital for various purposes. The transaction is approved by the boards of directors for both Softbank and Sprint and is expected to be closed by mid-2013.Sprint stock is higher on this news. It began trading over 2% higher today at $5.87.
Constellation Brands Reports Mixed Second Quarter results TradeTheTrend 2012-10-05 | Constellation Brands (NYSE:STZ) reporting their second quarter results this morning. The wine company posted EPS of 71 cents, higher than the 54 cents analysts were expecting. Revenue for the quarter rose 1.2% to $698.5 million, missing estimates of $710 million. President and CEO of the company Rob Sands said in their press release he was pleased with the company's strong market performance and is proud of the success in their innovation pipeline. Investors like Constellation's earnings report. The company's stock is up over 4% in early trading to $36.21.
Avon Products Executive Chairman Stepping Down TradeTheTrend 2012-10-05 | Avon Products (NYSE:AVP) seeing a boost in today's trading, as Executive Chairman Andrea Jung announced she will be stepping down. She will leave Avon's board by the end of the year, with lead independent director Fred Hassan taking her place. This announcement comes as new leadership takes shape for the company as new CEO Sheri McCoy takes on her new role. Jung said her decision comes to reflect the transition of new leadership and will continue as a senior advisor to the board.Avon Products soaring in today's session. Its stock is up almost 6% to $17.19.
Zynga Stock Down on Disappointing Q3 Earnings Forecast TradeTheTrend 2012-10-05 | Zynga (NASDAQ:ZNGA) falling on Wall Street after releasing its preliminary third quarter results yesterday. The software gaming company predicting a net loss of between $90 million and $105 million for the quarter on revenue between $300 million and $305 million. Zynga also forecast 2012 bookings, or the total value of the virtual goods sold within its games, of between $1.085 billion and $1.1 billion. This was down from a previous expectation of between $1.15 billion and $1.225 billion. This is bad news not only for the company but for Facebook (NASDAQ:FB) as well, who gets a lot of its revenue from the game maker.Zynga stock feeling the heat from investors in early trading. Shares of the company are down over 18% to $2.30.
Canada Sees Unemployment Rate Increase in September TradeTheTrend 2012-10-05 | While the United States may have received some heartening employment rate news for September, the same can not be said for Canada. The country reported job gains, but an increase in the jobless rate as well.Canada saw an increase of 52,000 jobs in September, out performing estimates according to the Dow Jones Newswire, but not enough to help the unemployment rate. The jobless rate rose .1% in September to 7.4%.The job gains were in the retail, construction, recreation and agriculture among others. Job losses were primarily in the business, support services, and natural resources.
The Wet Seal Replaces Four Board Members TradeTheTrend 2012-10-05 | Clothing brand The Wet Seal Inc. (NASDAQ: WTSLA) is in the midst of a leadership shakeup. The company has announced today that four of its member of the board of directors will be resigning, including its chairman.Members Jonathan Duskin, Sidney Horn, Henry Winterstern, and chairman Hal Kahn have resigned from its board. They have been replaced by stock-holder Clinton Group's nominees: Dorrit Bern, Lynda Davey, Mindy Meads, and John Mills. Former Chariman Hal Kahn will stay on as a consultant to ensure an orderly transition. Wet Seal Stock is already up over one and a half percent to $3.19.
Unemployment Rate Falls to 7.8% on New Jobs Report TradeTheTrend 2012-10-05 | This close to the election, it seems that any economic data is politically important, and the monthly jobs report is no exception. The Department of Labor reported its employment situation statistics this morning, showing job gains and an unexpected drop in the unemployment percentage.The economy added 114,000 jobs in September, just shy of a Bloomberg survey's median estimate of 115,000 jobs. More importantly, the unemployment rate fell .3 percentage points to 7.8%. The unemployment statistic has not been that low since January of 2009.What sort of effect this report will have on the upcoming presidential election remains to be seen, but both sides will undoubtedly have their own spin.
Zumiez Reports Over 18% Increase in September Sales TradeTheTrend 2012-10-02 | http://www.mysmartrend.comSports apparel retailer Zumiez (NASDAQ:ZUMZ) reporting its September sales this morning, posting an increase of 18.6%. Net income came in at $62.7 million, compared to the $52.9 million from the same period last year. The company's comparable store sales increased 5.6%, on top of the 10.1% increase in the year ago period. This is great news for the company, who issued third quarter earnings guidance in the beginning of September at an EPS range of 42 to 45 cents, lower than the 56 cents analysts were expecting. At market open, investors have confidence in the retailer. Zumiez stock is currently up over 2% to $28.17.
Express Stock Falls After Cutting Q3 Forecast TradeTheTrend 2012-10-02 | http://www.mysmartrend.comExpress Inc. (NYSE:EXPR) updating its outlook for the third quarter. The retail chain no sees net income in the range of $14 million to $17 million or 16 to 20 cents per diluted share. This is down from their previous estimate of 27 to 32 cents. This puts their third quarter earnings estimate well below the 29 cents analysts were expecting. Express Chairman, President and CEO Michael Weiss said in a statement that trends became increasingly difficult in the month of September driven by a loss in traffic at its stores,. Weiss says they have the initiatives in place to curb these losses and will gain more momentum starting in October. This news has caused Express shares to plummet at market open. Currently, the retailer's stock is down over 17% to $12.38.
Tyco and ADT Doing Well on Wall Street After Spin Off TradeTheTrend 2012-10-02 | Tyco International (NYSE:TYC) and its spin off ADT (NYSE:ADT) seems to be getting a warm welcome on Wall Street. Both were up over 3% on Monday and look to increase in today's session as well.http://www.mysmartrend.comTyco announced it was planning to spin off ADT and the company's pipe and valve business a year ago to renew focus to its separate businesses. CEO Edward Breen has been selling the company's units and spinning off its parts since assuming his role back in 2002. So far, his plans seem to be paying off.Tyco expects annual revenue of about $10.5 billion this year while ADT expects their revenue from last year of $3.1 billion to increase by 7% a year over the next five years. Both companies opening with mixed numbers this morning though. Tyco stock is trading over 1% to $28.84 while ADT is down over 1% to $36.89.
NY Attorney General Suing JP Morgan Over Mortgage Securities TradeTheTrend 2012-10-02 | http://www.mysmartrend.comJP Morgan (NYSE:JPM) dealing with a lawsuit from the New York Attorney General Office this morning. It is suing the big bank for allegedly defrauding investors who lost over $20 billion on mortgage-backed securities sold by its Bear Stearns unit.If the NY Attorney General wins the case, it could pave the way for more government actions on other banks that were tied to the securities that caused the 2008 financial crisis. JP Morgan said they will fight these claims.The case is the first from a group of federal and state prosecutors and regulators formed by President Obama back in January.This news not really affecting JP Morgan stock this morning. Shares of the company are trading flat at opening.
Chrysler September Sales 12% Higher TradeTheTrend 2012-10-02 | http://www.mysmartrend.comChrysler announced its sales for September, posting a 12% increase in the month. This is the automaker's best September since 2007 and the 30th straight month of sales increases. It is the first out of the U.S. car manufacturers that are reporting their sales today. Forecasters are expecting a combined annual sale of 14.4 million to 14.6 million, which is about even with the pace of recent months.The great sales numbers are likely to continue due to customers taking advantage of low interest rates on car loans and the recovery of other consumer markets.
American Airlines Grounds 8 Flights Over Safety Concerns TradeTheTrend 2012-10-02 | http://www.mysmartrend.comAmerican Airlines having more trouble with its aircraft as it announces the grounding of eight planes for inspection. This comes after seats became loose on two flights in the last few days causing delays and concerns over safety. This just adds to the many problems piling up for American. Its parent company, AMR Corp, filed for bankruptcy back in November. This along with cost cuts for its pilots and the canceling of flights has decreased its reliability in the marketplace, making competitors like Southwest and Delta more attractive to consumers.
Honda Recalls 572,000 Additional Vehicles TradeTheTrend 2012-10-01 | Honda expanded its power steering hose recall from May on Saturday, adding close to 572,000 cars to the pool. Model year 2003 through 2007 Honda Accord V6 vehicles in the US have now been recalled in addition to the 2007-2008 Acura TL's from the May recall.The problem stems from the power steering hose, which may degrade over time due to high temperatures. This could cause the hose to leak, leading to a loss of power steering, or smoke and fire.Honda has said that the updated hoses will not be available until 2013, so repairs must be made at Honda dealerships in the interim.
Workday Files for $546 Million IPO TradeTheTrend 2012-10-01 | Software company Workday looking to go public. The business, which focuses on software that helps manage office operations, filed an initial public offering to raise as much as $546 million. Workday will offer over 22 million shares at $21 to $24 each. Morgan Stanley and Goldman Sachs are leading the sale. It plans to be listed on the New York Stock Exchange under the ticker symbol "WDAY".
Visteon Names New CEO TradeTheTrend 2012-10-01 | Visteon Corp. (NYSE:VC) naming a new chief executive officer this morning. Former Dura Automotive CEO Timothy Leuliette will be the auto parts new leader. He has been Visteon's interim CEO since August 10, when Don Stebbins stepped down. The company also separated the roles of CEO and chairman, naming board member Francis Scricco as non-executive chairman. Visteon seeing some confidence from investors over this news. The company's stock is up over 2% to $45.43.
Honeywell to Acquire Controlling Stock in Thomas Russell Co. TradeTheTrend 2012-10-01 | Conglomerate Honeywell International (NYSE: HON) said Monday it has entered into an agreement to buy a 70% stake in the privately-owned Thomas Russell Co. Thomas Russell is a manufacturer of components used in the processing and treating of natural gas. Honeywell's UOP business will be executing the deal, valued $525 million. UOP hopes that Thomas Russell's natural gas technology will help expand its own energy business.The agreement says the remaining 30% stake in the company could be subsequently purchased by Honeywell, or may be sold by Thomas Russell to another party. It is expected that the deal will close in the fourth quarter of this year.
Xstrata Shareholders Approve Glencore Acquisition Bid TradeTheTrend 2012-10-01 | Xstrata board members approved the $33 billion bid from Glencore today, finally listening to the company's investors. After months of talks and negotiations over the price, Xstrata was able to come to a consensus after changing the deal to ensure a payment plan keep its top managers safe once the merger is complete. The deal is not final though. Three separate votes by shareholders must be done to finally make the acquisition official.On this news, Xstrata shares are currently up almost 3% on the London exchange while Glencore is trading flat.
Smartrend Update: Abercrombie & Fitch Trend Alert TradeTheTrend 2012-10-01 | Welcome to your Smartrend Update, from mysmartrend.com, where you can get more actionable trend alerts on stocks every day to help you trade and make money. I'm Chuck Pierce. SmarTrend posted a trend alert for Abercrombie & Fitch (NYSE:ANF), as Credit Suisse assumed coverage on the company's stock setting its rating at "underperform." The clothing retailer recently made a list of the top five companies in the apparel retail industry with the lowest forward P/E ratio. To find out where Abercrombie & Fitch stock is heading as well as other trending stocks, visit mysmartrend.com for more actionable trend alerts to help you trade in the markets and make money.
Smartrend Update: Books-A-Million Trend Alert TradeTheTrend 2012-10-01 | Welcome to your Smartrend Update, from mysmartrend.com, where you can get more actionable trend alerts on stocks every day to help you trade and make money. I'm Chuck Pierce. SmarTrend posted a trend alert for Books-A-Million (NASDAQ:BAMM). Recently, The company made a list of the top five companies in the specialty stores industry with the lowest price to cash flow. To find out where Books-A-Million stock is heading as well as other trending stocks, visit mysmartrend.com for more actionable trend alerts to help you trade in the markets and make money.
3M to Buy Ceradyne Inc. TradeTheTrend 2012-10-01 | 3M (NYSE: MMM) announced it has agreed to acquire ceramics company Ceradyne, Inc.. The deal will value Ceradyne stock at $35 per share, making for a total of about $860 million.3M's acquisition will become a part of its Advanced Materials and Energy division, a part of the conglomerate's Industrial and Transportation Business. 3M hopes that the acquisition of Ceradyne will allow it to produce tailor-made products by means of Ceradyne's ceramics expertise. The deal is expected to finish some time in the fourth quarter of this year.
Fandango Appoints New President TradeTheTrend 2012-10-01 | Movie ticket website Fandango has a new president today as Paul Yanover has been appointed to the newly created position. Yanover is a former executive from Disney's digital division, and has over 20 years of experience in entertainment and ecommerce. The new president will report to Fandango's parent company NBC Universal, and will focus on improving the site's customer experience. In addition, Yanover will seek to increase Fandango's original content output on the web, TV, and mobile platforms.
American Express Subsidiaries Refunding $85 Million to Customers TradeTheTrend 2012-10-01 | Credit card company American Express (NYSE:AXP) announced the finalization of several settlements with regulatory agencies resulting in $85 million in refunds to customers.The subsidiaries, which include American Express Centurion Bank, American Express Bank FSB, and American Express Travel Related Services Company, were cited by regulators for violations related to debt collection practices, late fee charges, and credit card solicitations.In addition to the refund, American Express will also pay civil penalties totaling $27.5 million to the regulators.Investors are pleased with AMEX finally reaching these settlements. Its stock is up over 2% to $58.19.
Macys Announces it Will Hire 80,000 Seasonal Employees TradeTheTrend 2012-10-01 | Another retailer coming out with its hiring numbers for the holiday season. Macy's (NYSE:M) is falling in line with the rest of America's big box stores, saying it will increase its seasonal employees by 80,000, 2.5% higher from the previous year.Macy's Chairman, President, and CEO Terry Lundgren said in their press release the hiring will insure Macy's customers are "well served" both on the sales floor and behind the scenes. He also added that Macy's has the largest holiday hiring program in American retailing.Hiring has already begun for some positions, with a larger push for employment coming in mid-October.As for Macy's on Wall Street, the company's stock seeing a boost on this news. Shares are up over 2% to $38.53.
Integrys Energy to Buy Fox Energy Company TradeTheTrend 2012-10-01 | The Wisconsin Public Service Corporation, a subsidiary of Integrys Energy Group, has announced that it will buy Fox Energy Company for $440 million. The purchase will see Integrys paying $390 million for Fox Energy's natural gas power plant in Wisconsin, and $50 million in fees for the premature end of a tolling agreement between the two companies. The acquisition of this plant will see the Wisconsin Public Service Corporation expanding its portfolio in regards to the type of energy sources it harnesses. The deal is expect to finish around the start of April 2013, but still needs the approval of lenders and regulators.
Cal-Maine Reports First Quarter Earnings TradeTheTrend 2012-10-01 | Cal-Maine Foods Inc. (NASDAQ: CALM) reported its first quarter earnings today. The Egg producer and shipper saw a net profit for the quarter of $9.4 million, more than three times its profit from a year ago. The company saw EPS of $0.39, beating analyst estimates of $0.35. Cal-Maine's revenue increased 12% to $272.9 million, beating estimates of $258.6 million.The company attributed its success to maintaining high efficiency in its production in the face of rising feeding costs. Cal-Maine stock is up over 2% to $45.86.
Fairway Market Files for IPO TradeTheTrend 2012-09-25 | A small grocery store chain in New York City is going public. Fairway Group Holdings, the holding group for the popular Fairway Market stores, filed for its initial public offering on Monday. The small market, which started in the 1930s, has grown to 11 stores in the New York, New Jersey, and Connecticut area.Sterling Investment Partners acquired 80 percent of the chain back in 2007 and will retain ownership of the company once it goes public. Fairway said that proceeds of the IPO will fund future growth and will be used for general corporate purposes.The preliminary filing did not disclose how many shares will be sold or at what price. The stock is expected to be traded on the NASDAQ exchanged under the ticker symbol "FWM".
Toys R Us Hiring 45,000 Seasonal Employees, Up From Last Year TradeTheTrend 2012-09-25 | Toys R Us is the latest retailer anticipating a big holiday season this year. The company announced it will be hiring 45,000 seasonal employees, up 15 percent from the same time last year.Retail sales are predicted to rise this holiday season but Toys R Us says the increase in hiring is to fill the new positions needed for their "Buy Online, Pick Up In Store" offering, which is newly enhanced this year.Toys R Us is not the only retailer increasing their hiring. Both Wal-Mart and Kohl's have already announced they will be taking on more employees than the previous year, showing companies are betting on a busy season.
Downgrade Alert for Deutsche Telekom TradeTheTrend 2012-09-25 | Deutsche Telekom (NASDAQ:DTEGY) was downgraded from Buy to Hold at Jefferies today. The stock closed yesterday at $12.88 on volume of 253,000 shares, below average daily volume of 302,000.Deutsche Telekom has overhead space with shares priced $12.88, or 8.0% below the average consensus analyst price target of $14.00. The stock should find initial support at its 50-day moving average (MA) of $11.80 and further support at its 200-day MA of $11.40.Over the past year, Deutsche Telekom has traded in a range of $8.83 to $15.72 and closed yesterday at $12.88, 46% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.1%.
Upgrade Alert for Safeway TradeTheTrend 2012-09-25 | Safeway (NYSE:SWY) was upgraded from Market Perform to Outperform at BMO Capital today. The stock closed yesterday at $15.94 on volume of 4.6 million shares, below average daily volume of 6.0 million.Potential upside of 19.6% exists for Safeway, based on a current level of $15.94 and analysts' average consensus price target of $19.07. Safeway shares should encounter resistance at the 200-day moving average (MA) of $19.21 and support at the 50-day MA of $15.91.
Caterpillar Cuts 2015 Profit Forecast TradeTheTrend 2012-09-25 | Caterpillar (NYSE:CAT) lowered its profit forecast for 2015 to $12 to $18 per share, from $15 to $20 per share previously. The construction equipment maker also lowered its revenue projection to between $80 billion and $100 billion.The company said the reason for the cut in forecast was due to the slower-than-expected growth in the global economy. For the current year, the company says it sees revenue to come in about $2 billion below its previously projected range of $68 billion to $70 billion.Caterpillar's stock not fairing well so far in today's trading. Shares of the company are down 2 percent to $88.83.
Staples Closing Stores in New Strategic Plan TradeTheTrend 2012-09-25 | Staples (NASDAQ:SPLS) announcing a slew of store closures to begin a new strategic business plan. The office products company announced it will be speeding up 15 closures in the U.S. and plans on closing 45 stores and some delivery businesses in Europe.Staples says the plans will help promote growth as well as heighten the customer experience. The company expects the closures could result in charges of $145 million to $195 million by the end of fiscal 2012.Currently, Staples stock is falling on this news. Shares of the company are trading over 2 percent lower to $12.04.
