Friday, May 11, 2012

DailyMarkets.com - CAT Sells Stake In Logistics Biz.

DailyMarkets.com - CAT Sells Stake In Logistics Biz.

CAT Sells Stake In Logistics Biz.

Posted: 11 May 2012 12:02 PM PDT

Caterpillar Inc. (NYSE:CAT) has agreed to sell its 65% stake in its logistics business to private-equity firm Platinum Equity in a deal valued at approximately $750 million. The transaction, subject to customary closing conditions, is expected to close in the third quarter of 2012.
Caterpillar Logistics Services LLC, the third party logistics division of Caterpillar's wholly owned subsidiary, Caterpillar Logistics Inc., has been providing logistics service to more than 50 customers across … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Pool Corp. Hikes Dividend

Posted: 11 May 2012 11:43 AM PDT

Pool Corp. (NASDAQ:POOL) recently announced its decision to hike its quarterly dividend by 2 cents to 16 cents per share. This translates into a 14.0% increase from the prior dividend. The increased dividend will be paid on May 30, 2012, to stockholders of record on May 14.
This represents the seventh dividend increase by Pool since its inception in 2004 and brings the forward annual dividend yield as of May 10, 2012, to 1.77%. The current hike comes exactly after a year. The company had last … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Another Dismal Showing By Video Games

Posted: 11 May 2012 11:42 AM PDT

A lack of major releases dragged video game retail sales in April down 32% year over year to $630.4 billion, according to market research firm NPD. Dollar sales declined significantly from $1.10 billion on a monthly basis.
Both hardware and software sales continued to decline in April, primarily owing to the ongoing transition from the physical to the digital platform. Hardware fell 32% year over year to $189.7 million, while software sales plunged 42% year over year to $292.1 million. … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Quality Systems’ Prelim Results

Posted: 11 May 2012 11:42 AM PDT

Quality Systems (NASDAQ:QSII) reported preliminary unaudited results for the fourth-quarter and fiscal year. For the fourth quarter, the company expects revenues in a band of $107 and $111 million while revenues for the fiscal year are pegged in the region of $428 million to $431 million.
Earnings per share for the fourth quarter are expected to be in the region of 24 cents to 27 cents while that for the fiscal year should be about $1.27 to $1.30.
Results for the fiscal fourth quarter were … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

GameStop’s Sales Decline

Posted: 11 May 2012 11:42 AM PDT

GameStop Corporation (NYSE:GME) bore the brunt of weak traffic and lack of significant game title launches, which was well evident in its dismal first quarter 2012 sales numbers.
The video game and entertainment software retailer came out with its first quarter 2012 sales and earnings figures ahead of its scheduled date.  GameStop reported earnings of 54 cents a share, a penny ahead of the Zacks Consensus Estimate, but 4% lower than the comparable prior-year quarter. Reported earnings were … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Carrols Beats Overall

Posted: 11 May 2012 11:23 AM PDT

Carrols Restaurant Group, Inc. (NASDAQ:TAST), reported first quarter 2012 adjusted earnings of 16 cents per share compared with 14 cents per share in the year-earlier quarter. However, the company reported GAAP loss of 16 cents, which includes after-tax charges of 32 cents per share, compared with GAAP earnings of 10 cents in year-earlier quarter.
This included impairment charges, lease charges and spin-off related expenses. Reported earnings beat the Zacks Consensus Estimate by a penny.
The company … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Stone To Buy Stake From Anadarko

Posted: 11 May 2012 11:23 AM PDT

Gas-focused exploration and production company Stone Energy Corporation (NYSE:SGY) has farmed in to independent energy giant Anadarko Petroleum Corporation's (NYSE:APC) working interest in a U.S. Gulf field.
The purchase by Stone Energy comprises Anadarko’s 25% working interest in the five block deepwater Pompano field in Mississippi Canyon, 22% in Mississippi Canyon Block 29, and another 10% in portions of Mississippi Canyon Block 72.  
Per the agreement, Stone Energy is expected to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

JPM Trading Loss Hits Bank Stocks

Posted: 11 May 2012 11:23 AM PDT

Following the announcement of a huge trading loss at JPMorgan Chase & Co. (NYSE:JPM), the banking sector stocks fell in the after-market trading on Thursday. In its quarterly regulatory filing, JPMorgan stated that its chief investment office (CIO) has incurred substantial mark-to-market losses during the first six weeks of the current quarter.
CIO is a unit of JPMorgan, which it uses to make broad-based bets in order to hedge its loan portfolio.
JPMorgan incurred a huge loss of nearly $2 … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Magna Beats, EPS Escalates 12%

Posted: 11 May 2012 11:13 AM PDT

Magna International Inc. (NYSE:MGA) posted its first quarter 2012 earnings per share of $1.46, surpassing the Zacks Consensus Estimate and year-ago earnings of $1.30 by 12%. The increase in earnings was attributable to higher production and sales, along with profits earned from programs launched in 2011.
The earnings were also boosted by the decrease in weighted average number of shares outstanding due to repurchase of shares. In absolute terms, profits were $343 million in the reported quarter, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Statoil To Explore Barents Sea

Posted: 11 May 2012 11:13 AM PDT

Statoil ASA (NYSE:STO) is on track for an extensive exploration venture in the Skrugard area of the Barents Sea. This exploration operation will comprise four new prospects near its Skrugard and Havis discoveries and is due to start in late 2012. The campaign also includes production licenses PL532 and PL608.
The company remains upbeat on Barents Sea exploration that led to two significant oil discoveries with estimated recoverable volumes of 400 million to 600 million barrels of oil equivalent in … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Willis: “Market Ignoring China, India, Spain”

Posted: 11 May 2012 10:50 AM PDT

05/11/12 Sunrise Securities’ Ben WIllis talks about today’s action in the US equity markets, as well as the technology and financial sectors. Ongoing event risk in the Euro zone and expectations for US gasoline prices are also … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MBIA’s Loss Saga Continues

Posted: 11 May 2012 10:48 AM PDT

Mortgage insurer MBIA Inc. (MBI) reported first-quarter pre-tax loss of $548 million or $3.23 per share, in stark contrast to pre-tax income of $25 million in the prior-year quarter. The loss during the quarter resulted from losses on insured exposures, realized losses from sales and impairments of investments, and legal and litigation-related costs and expenses.
Net income came in at $10 million, or 5 cents per share, compared with a net loss of $1.3 billion, or $6.37 per share, … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

ReneSola Posts Higher Loss

Posted: 11 May 2012 10:48 AM PDT

Before markets opened today, ReneSola Ltd. (NYSE:SOL) reported first quarter 2012 results. In the reported quarter, the company clocked adjusted loss per American Depositary Share (ADS) of 47 cents per share, missing the Zacks Consensus Estimate of 30 cents of loss per ADS. Numbers, however, were way behind than the year-ago quarterly earnings of 49 cents per share.
Operational Results
In the reported quarter, ReneSola's revenues of $211.5 million plummeted 41.1% from $359.2 million in the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MarkWest To Buy Keystone Biz

Posted: 11 May 2012 10:48 AM PDT

MarkWest Energy Partners, L.P. (NYSE:MWE) has agreed to purchase 100% ownership interest in Keystone Midstream Services, LLC. The deal, which is slated to be closed in the second quarter of 2012, has been settled at a purchase price of $512 million.
Owned by Stonehenge Energy Resources, LP, and partners of Rex Energy Corporation (NASDAQ:REXX) and Sumitomo Corporation, Keystone possesses properties in Butler County, Pennsylvania. The company's assets comprise two cryogenic gas processing plants with a … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Mixed Bag From ArcelorMittal

Posted: 11 May 2012 10:28 AM PDT

Steel giant ArcelorMittal (NYSE:MT) posted earnings of 1 cent per share in first-quarter 2012, down 98.6% from 69 cents per share in the year-ago quarter. The results missed the Zacks Consensus Estimate of 22 cents.
Sales edged up 2.3% to $22,703 million from $22,184 million in the year-ago quarter, beating the Zacks Consensus Estimate of $22,404 million. Greater steel shipments led to increased sales in the quarter.
Steel shipments inched up 1.2% to 1.2 million tons. Although demand in North … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Valero Deploys Fiserv

Posted: 11 May 2012 10:28 AM PDT

Fiserv, Inc. (NASDAQ:FISV) recently announced that its CorPoint Deposit Manager, cash management solution platform has been selected by Valero Retail Holdings, Inc. for its retail outlets in North America. An armored-carrier agnostic remote cash capture solution and smart-safe hardware devices are to be installed at these stores by Valero as per this contract.
Through this application, Fiserv will provide an inexpensive user-friendly solution which would give Valero's central office access to … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

El Paso & KMI Ready To Merge

Posted: 11 May 2012 10:12 AM PDT

El Paso Corporation (NYSE:EP) is set to complete its proposed merger with Kinder Morgan, Inc. (KMI) on May 24, 2012. Both the companies have already received all required approvals from their respective board of directors, shareholders and regulators.
In October 2011, El Paso had entered into an agreement to merge with Kinder Morgan. The deal is worth approximately $38 billion. The deal value includes $17 billion outstanding debt of El Paso and its subsidiaries.
Per the agreement, the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

MDVN Misses; Focus On Enzalutamide

Posted: 11 May 2012 10:12 AM PDT

Medivation Inc. (NASDAQ:MDVN) reported first quarter earnings of 1 cent per share, well below the Zacks Consensus Estimate of $1.13. The company, however, had posted a loss of 24 cents in the year-ago period. The company swung to a profit in the first quarter of 2012 due to the accelerated recognition of deferred revenues under the Pfizer (NYSE:PFE) collaboration.
Revenues came in at $36.8 million, missing the Zacks Consensus Estimate of $67 million. Revenues, however, increased 150.4% from the … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Oil Creeps Lower On Weak Chinese Data

Posted: 11 May 2012 05:00 AM PDT

05/11/12 Front month crude prices were once again in the red Friday afternoon following a weak reading in Chinese production and investment … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards

Euro Still Lower Vs Dollar

Posted: 11 May 2012 07:00 AM PDT

05/11/12 The euro is again trading lower against the dollar Friday in the forex markets on continued political concerns in Greece and weak data out of … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards
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