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Gapping Up and Down This Morning

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NYSE

GAINERS

Symb Last Change Chg %
APAM.N 38.83 +3.63 +10.31
AGI.N 14.28 +0.71 +5.23
BCC.N 30.44 +1.49 +5.15
HY.N 52.49 +1.84 +3.63
NYCB.N 13.62 +0.31 +2.33

LOSERS

Symb Last Change Chg %
WDAY.N 61.63 -2.91 -4.51
LOCK.N 11.69 -0.37 -3.07
RIOM.N 4.52 -0.10 -2.16
WWAV.N 15.98 -0.29 -1.78
ERA.N 19.54 -0.34 -1.71


NASDAQ

GAINERS

Symb Last Change Chg %
AFFY.OQ 3.58 +1.29 +56.33
IMMR.OQ 8.24 +1.97 +31.42
HOTT.OQ 13.87 +3.12 +29.02
PCOM.OQ 14.89 +2.25 +17.80
CIEN.OQ 17.53 +2.59 +17.34

LOSERS

Symb Last Change Chg %
SCTY.OQ 16.49 -2.78 -14.43
HTHT.OQ 16.51 -2.76 -14.32
CYTR.OQ 2.39 -0.28 -10.49
YY.OQ 18.00 -1.98 -9.91
ROYL.OQ 2.16 -0.23 -9.62

AMEX

GAINERS

Symb Last Change Chg %
REED.A 4.38 +0.35 +8.68
EOX.A 6.76 +0.47 +7.47
BXE.A 5.50 +0.31 +5.97
CTF.A 21.15 +0.40 +1.93
MHR_pe.A 24.50 +0.46 +1.91

LOSERS

Symb Last Change Chg %
SVLC.A 2.21 -0.09 -3.91
FU.A 3.11 -0.08 -2.51
AKG.A 3.41 -0.08 -2.29
ALTV.A 10.93 -0.15 -1.35
ORC.A 14.40 -0.05 -0.35

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$MCD Reports Better Than Expected Same Store Sales

McDonald’s Corp. (MCD), the world’s largest restaurant chain, said sales at stores open at least 13 months fell less than analysts estimated in February as low prices kept consumers coming to restaurants amid a weak economy.

Global same-store sales fell 1.5 percent, the Oak Brook, Illinois-based company said today in a statement. Analysts projected a 1.6 percent drop, the average of 13 estimates compiled by Consensus Metrix.

Chief Executive Officer Don Thompson has been pushing value items worldwide in McDonald’s 34,400 locations, including in Asia, where the fast-food chain competes with Yum! Brands Inc. (YUM)’s KFC and Pizza Hut brands. McDonald’s, which has about 9,400 stores in its Asia region, has lured customers in China with delivery service, value dinners and bubble tea.

McDonald’s February sales were helped by “everyday affordable prices,” Thompson said in today’s release….”

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Gapping Up and Down This Morning

SOURCE 
NYSE

GAINERS

Symb Last Change Chg %
HCI.N 24.81 +4.04 +19.45
SBGL.N 6.22 +0.45 +7.80
RIOM.N 4.62 +0.29 +6.70
PBYI.N 27.60 +1.47 +5.63
ANFI.N 7.59 +0.26 +3.55

LOSERS

Symb Last Change Chg %
HY.N 50.65 -1.70 -3.25
WAC.N 47.45 -1.50 -3.06
WWAV.N 16.27 -0.40 -2.40
PBF.N 40.29 -0.96 -2.33
RESI.N 20.07 -0.44 -2.15

NASDAQ

GAINERS

Symb Last Change Chg %
OSIR.OQ 9.35 +2.44 +35.31
CTCM.OQ 11.69 +1.65 +16.43
VICL.OQ 4.04 +0.54 +15.43
PNTR.OQ 2.90 +0.38 +15.08
HCIIP.OQ 24.30 +3.12 +14.71

LOSERS

Symb Last Change Chg %
OSH.OQ 3.92 -0.58 -12.89
ACUR.OQ 2.67 -0.37 -12.17
OSBC.OQ 3.18 -0.41 -11.42
SOHU.OQ 43.44 -5.40 -11.06
IIN.OQ 4.22 -0.48 -10.21

AMEX

GAINERS

Symb Last Change Chg %
SVLC.A 2.30 +0.17 +7.98
AKG.A 3.49 +0.13 +3.87
SAND.A 8.82 +0.29 +3.40
REED.A 4.03 +0.05 +1.26
BXE.A 5.19 +0.03 +0.58

LOSERS

Symb Last Change Chg %
MHR_pe.A 24.04 -0.45 -1.84
EOX.A 6.29 -0.10 -1.56
CTF.A 20.75 -0.12 -0.57
FU.A 3.19 -0.01 -0.31

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Corporate Buybacks Hits $1 Trillion

“Corporate buybacks have surpassed the $1 trillion mark for the first time since 2009, a sign the credit boom is reaching new heights, according to Brian Reynolds, chief market strategist at Rosenblatt Securities.

“Buyback announcements for the S&P have now topped the trillion dollar mark for this credit boom. And even though this boom is about to begin its fifth year, this past month has seen the fastest growth for buyback announcements, as if CEOs are making up for lost time,” Reynolds said in a note on Wednesday.

(Read MoreIs Corporate Behavior Too Bubblicious in Bond Market?)

He said buybacks, where a company repurchases its own outstanding shares to reduce the number of shares in the market, have helped boost share prices.

“Buybacks have been the main driver of higher equity prices during the current credit boom, which began in 2009, as all other major stock market participants combined have been net sellers.”

Since March 2009, the S&P 500 has risen from its low of 676 to Wednesday’s close of 1541, an increase of almost 104 percent….”

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$TWC To Spin Off Magazine Business

“Time Warner Inc. will spin off its magazine business later this year, turning the nine-decade-old publisher of Time, People and Sports Illustrated into a separate publicly held company.

The board authorized management to proceed with the plan after a review of options, the New York-based media company said yesterday in a statement. As part of the move, Time Inc. Chief Executive Officer Laura Lang will step down from the role…”

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Gapping Up and Down This Morning

SOURCE
NYSE

GAINERS

Symb Last Change Chg %
FLTX.N 24.73 +1.20 +5.10
CGG.N 24.44 +1.11 +4.76
RKUS.N 21.28 +0.82 +4.01
DKL.N 28.99 +1.10 +3.94
WAC.N 48.95 +1.82 +3.86

LOSERS

Symb Last Change Chg %
AGI.N 13.42 -0.47 -3.38
ABBV.N 37.51 -0.73 -1.91
SBY.N 19.34 -0.35 -1.78
PBF.N 41.25 -0.73 -1.74
SCM.N 15.12 -0.22 -1.43

NASDAQ

GAINERS

Symb Last Change Chg %
ACUR.OQ 3.04 +0.99 +48.29
DYAX.OQ 3.91 +0.64 +19.57
HIMX.OQ 4.06 +0.62 +18.02
CREE.OQ 51.16 +6.44 +14.40
ASNA.OQ 18.90 +2.37 +14.34

LOSERS

Symb Last Change Chg %
GFNCL.OQ 4.16 -1.59 -27.68
IPXL.OQ 14.80 -5.20 -26.00
REGI.OQ 6.01 -1.59 -20.92
HGSH.OQ 4.60 -0.81 -14.97
NURO.OQ 2.07 -0.32 -13.39

AMEX

GAINERS

Symb Last Change Chg %
AKG.A 3.36 +0.24 +7.69
SAND.A 8.53 +0.13 +1.55
MHR_pe.A 24.49 +0.24 +0.99
CTF.A 20.87 +0.20 +0.97
ALTV.A 11.05 +0.10 +0.91

LOSERS

Symb Last Change Chg %
FU.A 3.20 -0.11 -3.32
SVLC.A 2.13 -0.05 -2.25
EOX.A 6.39 -0.11 -1.69
REED.A 3.98 -0.04 -1.00

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EU Antitrust Regulators Fine $MSFT $731 Million

“EU antitrust regulators fined Microsoft 561 million euros ($731 million) on Wednesday for breaking a promise to offer European consumers a choice of web browser.

Microsoft had made the pledge in 2009 in settling an antitrust investigation in Europe, where the software group’s regulatory troubles date from the last decade and have cost it a total of 2.16 billion euros, including the latest fine….”

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$NDAQ to Form Market Place for Trading Unlisted Shares

“(Reuters) – Nasdaq OMX Group Inc said it will form a marketplace for trading in shares in unlisted companies in a joint venture with SharesPost Inc, whose private trading platform has run into regulatory trouble.

The stock exchange operator will own a majority of the venture, Nasdaq Private Market. Specific terms were not disclosed.

The new market, to be based in San Francisco, will launch later this year, pending regulatory approvals, and will be led by SharesPost founder Greg Brogger.

SharesPost’s online trading platform, which matched buyers and sellers of unlisted shares, was charged by the Securities and Exchange Commission last March for failing to register as a broker-dealer before offering securities…”

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$FCX Expects to Double Copper Delivery to China

Freeport-McMoran Copper & Gold Inc. (FCX), the world’s second largest copper miner, may double sales of copper concentrate to China in the next three years as mined production expands, according to Javier Targhetta, the company’s senior vice president of marketing and sales.

Sales to China may be 800,000 to 1 million metric tons by 2016, up from more than 500,000 tons this year, Targhetta said in an interview in Madrid yesterday. The company’s concentrate sales to the biggest metals buyer have grown 10 times since 2005, he said. Copper concentrate is the material from mines that’s processed into cathodes for use in pipes and wiring.

“We hope to significantly increase sales to China in the coming three years,” Targhetta said before Metal Bulletin’s copper conference in Madrid. “We are one of the ones increasing our mined production. Certainly the Chinese market is a good one for us to place part of new concentrate that we will be producing.”

China will boost concentrate imports by 17 percent this year, soaking up some of the expected growth in mine supply, Barclays Plc said Feb. 15. Freeport in January forecast copper sales this year of 4.3 billion pounds (1.95 million tons) from 3.66 billion pounds in 2012. China is moving its import requirements toward copper concentrate from refined metal, Citigroup Inc. said March 4.

More Copper….”

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$JNJ Does Not Get FDA Approval for Blood Thinner

“The U.S. Food and Drug Administration (FDA) last night rejected an application from Johnson & Johnson (NYSE: JNJ) and Germany’s Bayer A.G. to extend the use of the two companies’ blood thinning drug Xarelto for reducing risk of heart attacks and strokes in patients with chest pain or previous cardiac illness. The drug was approved in 2011 for use to prevent clotting during some joint replacement surgeries, and its use has been expanded to treat irregular heartbeats and other types of blood clots….”

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Gapping Up and Down This Morning

SOURCE

NYSE

GAINERS

Symb Last Change Chg %
WDAY.N 61.72 +4.10 +7.12
SSTK.N 34.17 +1.65 +5.07
RH.N 39.44 +1.88 +5.01
SUSS.N 47.22 +2.23 +4.96
SDLP.N 28.43 +1.18 +4.33

LOSERS

Symb Last Change Chg %
RIOM.N 4.31 -0.29 -6.30
PBYI.N 25.29 -1.28 -4.82
CLV.N 22.00 -0.95 -4.14
SBGL.N 5.63 -0.23 -3.92
HCI.N 20.36 -0.21 -1.02

NASDAQ

GAINERS

Symb Last Change Chg %
HGSH.OQ 5.41 +1.00 +22.68
TIGR.OQ 2.17 +0.32 +17.30
THRX.OQ 24.29 +3.37 +16.11
OUTD.OQ 8.65 +1.10 +14.57
MEIP.OQ 9.25 +1.15 +14.20

LOSERS

Symb Last Change Chg %
SCSS.OQ 17.28 -3.21 -15.67
RNIN.OQ 2.73 -0.45 -14.15
RPRX.OQ 10.24 -1.66 -13.95
TUES.OQ 7.78 -1.20 -13.36
ZLTQ.OQ 3.98 -0.49 -10.96

AMEX

GAINERS

Symb Last Change Chg %
HMG.A 16.50 +9.60 +139.13
SGA.A 47.62 +3.64 +8.28
PBM.A 4.28 +0.28 +7.00
LCI.A 8.84 +0.57 +6.89
CKX.A 13.80 +0.76 +5.83

LOSERS

Symb Last Change Chg %
SAND.A 8.40 -0.74 -8.10
SVLC.A 2.18 -0.06 -2.72
EOX.A 6.50 -0.17 -2.55
FU.A 3.31 -0.08 -2.36
CTF.A 20.67 -0.29 -1.38

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$FNM & $FRE to Form a Joint Venture

“Fannie Mae and Freddie Mac will build a new joint company for securitizing home loans as a stepping stone toward shrinking the government’s role in the mortgage market, the regulator of the U.S. government-controlled firms said on Monday.

“The overarching goal is to create something of value that could either be sold or used by policymakers as a foundational element of the mortgage market of the future,” Edward DeMarco, acting director of the Federal Housing Finance Agency, told the National Association for Business Economics.

Fannie Mae and Freddie Mac, which were bailed out by the government in 2008, help finance about two-thirds of new U.S. home loans. DeMarco is seeking to shrink their footprint and reduce risks to the taxpayers that support the mortgage giants.

Since they were seized by the government, the companies have drawn nearly $190 billion from the U.S. Treasury to stay afloat.

By creating a new securitization company, FHFA intends to pave the way for a single securitization platform and force Fannie Mae and Freddie Mac to abandon their separate systems…”

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$QCOM to Raise Dividend and Start a $5B Share Buy Back

Source

“NEW YORK (MarketWatch) — Qualcomm Inc.QCOM +2.12% said Tuesday it raised its quarterly cash dividend by 40% to 35 cents a share from 25 cents a share, effective for dividends payable after March 27. The San Diego-based chip maker also announced a new $5 billion share buyback program with no expiration date that will replace the existing $4 billion program. Shares rose 1.8% in premarket trading. “

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Congressional Leaders Find the London Whale Was Only Part of the Debacle

“While a trader known as the “London whale” has come to represent a multibillion-dollar blowup at JPMorgan Chase, Congressional investigators have discovered that the problems involved more senior levels of the nation’s largest bank.

A report by the Senate Permanent Subcommittee on Investigations highlights flaws in the bank’s public disclosures and takes aim at several executives, including Douglas Braunstein, who was chief financial officer at the time of the losses, according to people briefed on the inquiry. The report’s findings — scheduled to be released on March 15 — are expected to fault the executives for allowingJPMorgan to build the bets without fully warning regulators and investors, these people said.

The subcommittee, led by Senator Carl Levin, could ask Mr. Braunstein and other senior executives to testify at a hearing this month, according to the people. The subcommittee does not currently intend to call the bank’s chief executive, Jamie Dimon, but Congressional investigators interviewed Mr. Dimon last year.

JPMorgan, which has been cooperating with the investigation and discussed the findings with the subcommittee, declined to comment. Mr. Braunstein and other bank executives have not been accused of any wrongdoing, and he is not the focus of a separate law enforcement investigation into the trading loss.

Congressional officials have yet to set the final details of the hearing and plans may change, the people cautioned. Politico earlier reported the scheduled date for the release of the report.

The Congressional investigation could revive questions about the role of senior executives in the $6 billion trading loss at a time when the bank has started to put the blunder behind it.

Mr. Dimon declared last year that the “Whale has been harpooned.” The bank reported record earnings in January and has forced out the architects of the bet.

The Senate report, however, shifts the focus from lower-level traders in London who placed the bet to senior executives and regulators who failed to stop it. Expanding on a sweeping report the bank released in January, the Congressional inquiry is expected to open a window into how executives ignored warning signs and failed to alert investors about changes to its method for detecting risk….”

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Shell to Build LNG Plants in U.S. & Canada

“(Reuters) – Royal Dutch Shell said it would build two small-scale gas liquefaction units in Louisiana and Ontario as part of an investment plan to unlock value in the use of liquefied natural gas as a transport fuel.

“These two units will form the basis of two new LNG transport corridors in the Great Lakes and Gulf Coast regions,” Shell said in a statement on Tuesday.

Shell said it was also working to use natural gas as a fuel in its own operations, which follows an investment decision in 2011 on a similar corridor in Alberta, Canada.

Shell, which has bet the most heavily of all the top oil firms on a future for cleaner-burning natural gas, said it is using its expertise to make LNG a viable fuel option for the commercial market.

In the Gulf Coast corridor, Shell plans to install the liquefaction unit at its Geismar Chemicals facility to supply LNG along the Mississippi river and intra-coastal waterway and to exploration areas offshore Gulf of Mexico and onshore Texas and Louisiana….”

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$GM Widens Lead Over $TM as Deliveries to China Rise 7.9%

General Motors Co. (GM)’s China sales rose during the first two months of the year, extending the U.S. carmaker’s lead over Toyota Motor Corp. (7203) in the world’s biggest auto market, as demand for Japanese brands shrank.

Combined sales in the country during January and February climbed 7.9 percent to 525,835 vehicles, Detroit-based GM said on its website today. In the past week, Japan’s Toyota, Nissan Motor (7201) Co. and Honda Motor Co. have reported declines in January- to-February deliveries in China.

The results show GM is gaining market share in both of the world’s two biggest automobile markets. Based on data released last week, U.S. sales at the maker of Chevrolet and Buick cars have risen 11 percent this year, outpacing the growth in total light-vehicle deliveries in the country.

Automakers in China commonly release two-month data when the week-long Lunar New Year holiday falls on a different month from a year earlier, as was the case this year….”

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$BA Says Battery Fix Will Be Quick Pending Approval

 

“NEW YORK (Reuters) – Boeing Commercial Aircraft Chief Executive Ray Conner said the company is very confident about its proposed fix for batteries that melted down on two 787 Dreamliners in January, and the process of getting the fix installed and the plane flying again can move quickly once the solution is approved by regulators.

Conner said parent Boeing Co saw no reason to adjust its forecast for the number of 787 jets delivered this year. He spoke at an investor conference hosted by JPMorgan in New York….”

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$XOM Beats $BP Again in a Bid to Drill in Russia

“MOSCOW (Reuters) – BP , which lost its first deal to drill for oil in Russia’s Arctic to ExxonMobil , tried to negotiate a new deal with Russian state oil company Rosneft and was again beaten to the punch by its U.S. rival.

ExxonMobil won access to the Arctic Laptev Sea fields, where Rosneft’s prospective reserves amount to 36 billion barrels of oil equivalent, under a deal last month, but three industry sources said BP had also been in talks with Rosneft to explore several blocks there.

Setbacks have become the norm for BP’s activities in Russia, where it formed a joint venture, TNK-BP , in 2003, by pooling its assets with those of four Soviet-born billionaires. It is currently selling out of that troubled venture to Rosneft.

TNK-BP became a battle of wills between the British firm and the tycoons, who blocked BP’s first attempt to form an Arctic exploration deal with Rosneft, a deal that BP executives had compared to the opening of a new North Sea.

Having negotiated that venture, which the tycoons said was in breach of the TNK-BP agreement, BP had to step aside and watch ExxonMobil take the spoils in 2011.

Now Rosneft has preferred ExxonMobil for the Laptev fields, even though BP will become a significant shareholder of Rosneft in April and name two directors to its board as part of the takeover of TNK-BP.

The government has even offered Dudley a seat on the board at state controlled Rosneft, headed byIgor Sechin, an influential ally of President Vladimir Putin…..”

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$SCMR to Go Ahead with Dissolution

Source 

“Co announced today that its Board of Directors has determined that, for the reasons stated in the Definitive Proxy Statement filed with the Securities and Exchange Commission in connection with the Special Meeting of Stockholders of the Company held on January 29, 2013, and after reviewing strategic alternatives for all of the Company’s assets and available options for providing value to the Company’s stockholders, it is advisable and in the best interest of the stockholders for the Company to proceed with its previously announced liquidation and dissolution in accordance with the plan of complete liquidation and dissolution that the stockholders approved at the Special Meeting, effective as of the close of business on March 7, 2013….”

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$HES Moves Closer to Becoming a Pure Energy Play

“Integrated oil company Hess Corp. (NYSE: HES) has announced plans to complete its transformation into a pure-play energy exploration and production (E&P) company by shedding its remaining downstream assets (refining, marketing and trading) and seeking to monetize its midstream (pipelines, gathering systems and processing plants) assets in the Bakken shale play. The company also says it will boost its dividend and launch a new $4 billion share buyback program.

Hess began the process of divesting its downstream business in January 2012 with the closure of its Hovensa refinery in the U.S. Virgin Islands. The 350,000-barrel a day refinery was a joint venture with Venezuela’s national oil company. This past January, Hess announced that it is closing its Port Reading, N.J, refinery, taking another 70,000 barrels a day of throughput out of East Coast refining….”

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