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.
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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.
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.
Several China-based solar power companies are reporting lackluster earnings today.
JA Solar
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) 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
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
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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) 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
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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) in the confidential arbitration action. The award does not... Read More
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.
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