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GDP Revised Lower than Expected

March 24, 2012   |   By: Forbes

The US economy grew more slowly in the third quarter than was initially reported.

The Commerce Department revised third quarter gross domestic product to a 2% pace in the third quarter, from an initial estimate of 2.5%.

Economists had not expected as much of a downward revision.

US stocks are trending lower following the data, with the SPDR S&P 500 trading down slightly.

The dollar is trading lower, with the US Dollar Bullish Fund trading down over .1%. The Euro Trust , meanwhile, is trading up over .1%.

Gold is trading at $1,698 an ounce Tuesday, leading the iShares Gold Trust to trade up over 1.1%, while the SPDR Gold Shares trades up about 1.2%. The Gold Miners ETF () is trading up 1.8%.

Crude oil is trading at $98.50 a barrel, leading the... Read More

Western Digital Plans To Challenge Seagate Judgement

March 23, 2012   |   By: Forbes

Hard drive maker Western Digital said today that a judgment was rendered against it late last week in an arbitration action brought by Seagate Technology .

An arbitration award of $525 million was rendered against Western Digital (nyse: WDC - news - people ) in the confidential arbitration action. The award does not... Read More

Tyson Foods Whiffs In Latest Quarter

March 23, 2012   |   By: Forbes

Meat producer Tyson Foods reported a decline in fiscal fourth quarter earnings today.

Profits fell to $97 million, or $0.26 per share, from $213 million, or $0.57 per share, in last year's fourth quarter. Tyson said sales rose 12.9%, to $8.4 billion.

Per-share results fell short of analyst expectations, however revenue was just ahead.

Tyson's chicken unit netted a loss in the quarter, while it beef, pork, and prepared foods segments posted gains.

Tyson said it expects that price increases in all of its categories will help it hit its 2012 sales forecast of $34 billion or more. That forecast meets analyst expectations.

Tyson competes with Read More

New Week, Same Sour Note For Stocks

March 23, 2012   |   By: Forbes

Investors are ringing in the new trading week on a sour note as the congressional "super-committee" in charge of lowering the deficit is expected to condede defeat, reignited the debate over taxing and spending, and opening the door for another US downgrade.

In overseas trading, Japan's Nikkei 225 Stock Average was lower by about a third of a percent, and the Hang Seng Index was higher by about 1.4 percent.

The FTSE 100 was was lower by almost 2.2 percent, and the German DAX was lower by 2.9 percent.

In the US, markets are sharply lower this morning.

Some key data due to be released this week includes GDP on Tuesday and initial claims on Wednesday.

On the earnings front, expect to hear from Books A Million and Chicos on Tuesdaym Read More

Daily Dividend Report: LANC, PCP, GPC, FLS, SJI, MTR

March 23, 2012   |   By: Forbes

Lancaster Colony Corporation announced its quarterly dividend of 36 cents per share, an increase of about 9% over its prior dividend in September of 33 cents. The dividend will be payable December 30, 2011 to shareholders of record on December 9, 2011. The indicated annual payout for the current fiscal year ending June 30, 2012 is $1.41 per share, up nine percent from the $1.29 per share paid in fiscal 2011.

Shares are lower by about two percent.

In other dividend news, Precision Castparts Corporation (nyse: Read More

Analyst Moves: RIMM, WAG

March 23, 2012   |   By: Forbes

Research In Motion was downgraded today by JMP Securities. A Market Underperform rating was assigned with a $12 price target. Estimates were also cut, as the smartphone sector is experiencing increased competition.

Shares are lower by over 3.8 percent.

Walgreen (nyse: WAG - news - people ) was downgraded today by Morgan... Read More

Fusion-io Trades Lower on Follow-On Offering

November 23, 2011   |   By: Forbes

Data storage platform company Fusion-io () is seeing its shares decline today, with heavier than usual volume, after it priced a follow-on public offering.

The company said late yesterday it had price an offering of 8.84 million shares of common stock at $33 per share.

3 million of the shares are being offered by Fusion-io, while the remainder are being offer by selling stockholders.

Fusion-io will not receive any proceeds from shares sold by stockholders.

Underwriters have been granted the option to purchase an additional 1.3 million shares from the stockholders.

Market News Video produces and distributes online videos about stocks and investing.

Footwear Earnings: DSW, Collective Brands, Brown Shoe

November 23, 2011   |   By: Forbes

Footwear retailer DSW reported third quarter earnings today of $53.7 million, or $0.75 per share, compared to a loss of $3.3 million, or $0.79 per share, last year.

Adjusted earnings of $0.88 per share beat analyst estimates.

Revenue, up 8.5% to $530.7 million, was shy of forecasts.

DSW raised its full year guidance to earnings of $2.90 to $2.95 per share.

Payless ShoeSource (nyse: PSS - news - Read More

Zale Earnings Sparkle vs. Expectations

November 23, 2011   |   By: Forbes

Jewelry retailer Zale reported a narrower loss for its fiscal first quarter following the close of trading yesterday.

Zale's loss narrowed to $32 million, or $0.99 per share, from a loss of $97 million, or $3.03 per share, in last year's first quarter.

The loss was narrower than analysts expected, as well.

Revenue rose 7.3%, to $351 million, on same-store sales of 5.8%.

Gross margin rose to 53.5 % from 50.5%, on price hikes and lower discounts that were partially offset by rising commodity costs, the company said.

Zale CEO Theo Killion noted the company's performance demonstrates the progress it is making towards returning to profitability, as its efforts to expand operating margins gain traction.

Read More

Solar Power Companies Disappoint with Earnings

November 23, 2011   |   By: Forbes

Several China-based solar power companies are reporting lackluster earnings today.

JA Solar (nasdaq: JASO - news - people ) posted a loss in the third quarter of $0.36 per American depositary share, compared to earnings of $0.49 per share last year.

JA Solar also cut its full year shipments forecast.

Solar panel producer Suntech Power HoldingsRead More

GDP Revised Lower than Expected

November 23, 2011   |   By: Forbes

The US economy grew more slowly in the third quarter than was initially reported.

The Commerce Department revised third quarter gross domestic product to a 2% pace in the third quarter, from an initial estimate of 2.5%.

Economists had not expected as much of a downward revision.

US stocks are trending lower following the data, with the SPDR S&P 500 trading down slightly.

The dollar is trading lower, with the US Dollar Bullish Fund trading down over .1%. The Euro Trust , meanwhile, is trading up over .1%.

Gold is trading at $1,698 an ounce Tuesday, leading the iShares Gold Trust to trade up over 1.1%, while the SPDR Gold Shares trades up about 1.2%. The Gold Miners ETF () is trading up 1.8%.

Crude oil is trading at $98.50 a barrel, leading the... Read More

Gilead Pays Up For Pharmasset

November 22, 2011   |   By: Forbes

Gilead Sciences has agreed to acquire Pharmasset for $137 per share in cash.

The transaction values Pharmasset (nasdaq: VRUS - news - people ) at $11 billion, and is expected to be completed in the first quarter of 2012.

Pharmasset's board has approved the transaction, and Read More

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