Tax preparation and financial software maker Intuit reported results after the close of trading yesterday for its fiscal first quarter.
The company posted a narrower loss than in last year's first quarter, of $64 million, or $0.21 per share, compared to a loss of $70 million, or $0.22 per share.
Kodiak Oil & Gas said today it has upsized and priced a previously announced public offering of common stock as well as a private offering of senior notes.
The stock offering has been increased from 37.5 million shares to 42 million shares, at $7.75 per share.
The private placement of senior notes due 2019 has been increase from $550 million to $650 million in aggregate principal amount.
Kodiak plans to use the net proceeds to finance its previously announced acquisition of interests in 50,000 net acres of oil and gas properties and related assets in the Williston Basin of North Dakota, to repay all outstanding debt under its second lien credit agreement, to fund capital expenditures... Read More
Leading the charge is American Airlines
(nyse:
AMR -
news
-
people
) parent AMR Corp. , which is trading higher today after it was upgraded to hold from sell by Dahlman Rose.
AMR is trading up over 4.6% today, while the Guggenheim Airline ETF is trading flat.
NYSE Euronext and Deutsche Boerse confirmed today that they have submitted a remedy proposal to the European Commission's competition regulator.
The two proposed remedies to alleviate competition concerns in derivatives trading and clearing raised by the impending merger of the companies, while preserving the logic of the transaction.
The exchanges have proposed to divest the portions of their respective businesses in which they overlap.
Divestitures would include the NYSE Euronext
(nyse:
NYX -
Read More
Haynes International Incorporated announced its quarterly dividend of 22 cents per share, an increase of about 10% over its prior dividend in August of 20 cents. The dividend is payable December 15, 2011 to stockholders of record at the close of business on December 1, 2011. The company also announced net revenues of $154.3 million and net income of $11.3 million, or $0.92 per diluted share, for the three months ended September 30, 2011, compared to net revenues of $104.6 million and net income of $5.5 million, or $0.45 per diluted share, for the same period of fiscal 2010.
Shares are higher by over two percent.
In other dividend news, Pepsico IncorporatedRead More
Marten Transport was upgraded today by Stifel Nicolaus from hold to buy with a $21 price target. The analyst issuing the upgrade cited that recent decline in the stock price have made shares a bargain, and he expects Marten to grow earnings per share by about 15 percent this year compared to last year.
The S&P 500, the Dow Jones Industrial Average, and the Nasdaq are all lower for the week.
Crude oil futures are lower this week, trading around $97.45 per barrel on Friday afternoon.
Gold futures are lower for the week in afternoon trading, to around $1723.79 an ounce.
In notable economic news this week, the economy added 80,000 jobs in the month of October, and unemployment was 9 percent, according to the Labor Department. The weekly jobless claims reports for the past three weeks fell by 5,000 to 388,000.
In corporate news this week, Merck
(nyse:
Read More
Social media site LinkedIn said late yesterday it has priced a follow-on offering at $71 per share.
The company, which made its public debut in May, will offer 8.75 million common shares plus an additional 1.3 million to cover over-allotments.
The company itself is selling just 1.3 million shares in the offering, and the remaining shares will be sold by existing stockholders.
LinkedIn said the purpose of the offering are to raise capital for the company, facilitate an orderly distribution of shares and increase the company's public float.
All selling stockholders, as well as all officers and directors, have agreed to lock-up agreements for a period of 90 days following the offering.
Angie's List will begin trading today on the Nasdaq after pricing its... Read More
PetSmart reported third quarter earnings after the close of trading late yesterday. Profits rose to $56.2 million, or $0.60 per share, from $45.6 million, or $0.38 per share, in last years third quarter. Revenue rose 8% to $1.5 billion, on a 6.1% increase in same-store sales. Results were slightly ahead of analyst estimates. PetSmart raised its full-year forecast to earnings of $2.50 to $2.54 per share, compared to a prior forecast of $2.46 to $2.52 per share. Analyst estimates fall within the new forecast, although the companys fourth quarter forecast for earnings of $0.85 to $0.89 per share is largely below expectations.
Housing starts fell slightly in October, down 0.3% to a seasonally adjusted annual rate of 628,000 units.
Economists had anticipated a bigger decline in housing starts.
The Commerce Department revised its estimates of housing starts in September, saying construction of new residences rose 7.6% instead of its initial 15% forecast.
Also today, the National Association of Home Builders/Wells Fargo Housing Market index rose three points in November, to 20.
A reading above 50 indicates an overall positive take on the real estate market, but this month's reading of 20 is the highest level on the index since May 2010.
And, the Labor Department said today that initial jobless claims fell to a seven-month low for the week ending November 12.
Just about a week to go until Black Friday marks the beginning of the holiday shopping rush, and several retailers are reporting earnings today.
Sears Holdings
(nasdaq:
SHLD -
news
-
people
) posted a wider loss for its fiscal third quarter, or $421 million, or $3.95 per share, compared to a loss of $218 million, or $1.98 per share, last year.
GameStop reported third quarter earnings today that slid to $53.9 million, or $0.39 per share, from $54.7 million, or $0.36 per share, last year.
Earnings at the video game retailer met analyst expectations, although revenue fell slightly short, rising 2.5% to $1.95 billion. Same-store sales fell by 0.6%.
New video game software sales rose 4.8%, driven by Microsoft's Gears of War 3 and Battlefield 3 and Madden NFL 12 from Electronic Arts , among others.
Also today, Activision Blizzard
(nasdaq:
Read More
JustLuxe is a luxury Web publication providing objective analysis and information to affluent consumers to assist with their decision making, such as chartering a yacht, purchasing a jet membership card, booking a luxury hotel, traveling to a specific destination, or buying real estate. Our writers conduct interviews with industry executives and leaders in their fields, analyze product offerings and review the Web sites of leading companies to ensure our readers have up-to-date data to make informed decisions. Consumers can find purveyors of fine luxury goods, services and travel solutions throughout the pages of JustLuxe via content or with our advertising partners. See our Best of Luxury high-end brands and partners.
rss
