Lloyds Banking Group updated its leadership situation today.
The firm said that, in case CEO Antonio Horta-Osorio is not able to return by the end of the year board member David Roberts would serve as interim chief executive.
Horta-Osorio is on a leave of absence, reportedly recovering from exhaustion, and chief financial officer Tim Tookey has been interim CEO in his absence.
However, Tookey is planning to leave the firm, therefore Lloyds named Roberts to take the helm in case Horta-Osorio does not return by the end of the year, although that is still expected.
Horta-Osorio took the leave just eight months after joining the firm from Banco Santander .
Late Friday, American Apparel said its acting president, Tom Casey, is resigning.
Luxury home builder Toll Brothers announced an acquisition today that marks its first entry into the Seattle market.
Toll said it has agreed to acquire CamWest Development, one of the largest privately held home building companies in the Pacific Northwest, for an undisclosed cash sum.
CamWest develops luxury single-family homes, condos and townhomes in the Seattle metropolitan area as well as in King and Snohomish counties.
The average CamWest home sells for $500,000. The company anticipates delivering 180 homes in 2011, producing revenues of $90 million.
Rivals PulteGroup and DR Horton also build homes in the Seattle area.
The battle to acquire Transatlantic Holdings appears to be won, at least for now.
Alleghany Corporation
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Transatlantic will become an independent standalone subsidiary of Alleghany following the... Read More
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
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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.
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
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
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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.
Food producer H.J. Heinz reported a decline in fiscal second quarter earnings today.
Profits fell to $237 million, or $0.73 per share, from $251.4 million, or $0.78 per share, in last year's second quarter.
Adjusted earnings of $0.81 per share were just ahead of analyst estimates.
Sales missed analyst expectations, however, rising to $2.83 billion from $2.61 billion last year.
Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, the largest inflow was seen in the SPDR S&P Homebuilders ETF , which added 1.6 million shares, or a 3.5% increase week over week. Among the largest underlying components of XHB, in morning trading today Select Comfort Corporation is off about 2%, and Ryland Group is lower by about 0.9%.
And on a percentage change basis, the ETF with the largest increase in inflows was the WisdomTree Dreyfus Japanese Yen Fund , which added 200,000 shares, for a 50.0% increase in outstanding shares.
Turning today to week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, the largest outflow was seen in the iShares MSCI EAFE Index Fund , which shed 4.2 million shares, or a 0.6% decrease week over week. Among the largest underlying components of EFA, in morning trading today National Bank Greece is up about 0.2%.
And on a percentage change basis, the ETF with the largest outflow was the iShares Dow Jones US Broker-Dealers Index Fund , which lost 450,000 of its shares, for a 15.3% decline in outstanding shares. Among the largest underlying components of IAI, in morning trading today Goldman SachsRead More
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