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German Growth Forecast Cut

November 22, 2011   |   By: Forbes

Germany is no longer expected to grow as quickly in 2012, according to its central bank.

The Bundesbank cut its growth forecast today. It now expects German GDP to grow at a 0.5% to 1% rate next year.

The forecast compares to a prior prediction for 1.8% expansion in the German economy.

The iShares MSCI Germany Index Fund (nyse: EWG - news - people ) is trading down 2.9% Monday,... Read More

Lloyds Banking Group Clarifies Leadership Picture

November 22, 2011   |   By: Forbes

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.

Chairman, CEO... Read More

Toll Brothers Taps Seattle Market

November 22, 2011   |   By: Forbes

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.

Market... Read More

Victor Emerges In Battle For Transatlantic

November 22, 2011   |   By: Forbes

The battle to acquire Transatlantic Holdings appears to be won, at least for now.

Alleghany Corporation (nyse: Y - news - people ) said today it has agreed to acquire Transatlantic for $59.79 per share in cash and stock, or a total of about $3.4 billion.

Transatlantic will become an independent standalone subsidiary of Alleghany following the... Read More

Western Digital Plans To Challenge Seagate Judgement

November 22, 2011   |   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

November 22, 2011   |   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

November 22, 2011   |   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

November 22, 2011   |   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

November 22, 2011   |   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

Food and Beverage News: Heinz, Dr Pepper Snapple

November 19, 2011   |   By: Forbes

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.

Heinz (nyse: HNZ - news - Read More

XHB, JYF: Big ETF Inflows

November 19, 2011   |   By: Forbes

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.

Market News... Read More

EFA, IAI: Big ETF Outflows

November 19, 2011   |   By: Forbes

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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