Market News
Chubb (CB)
Chubb today declared a regular quarterly dividend in the amount of $0.35 per share payable January 12, 2010 to shareholders of record on December 18, 2009, ex-dividend date December 16, 2009.
At today's $48.84 stock price the dividend yield is 2.87%.
Dec 3 · 9:39:00 PM · Source: Company Press Release
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by Rich Pike
Harley-Davidson (HOG)
Motorcycle manufacturer Harley-Davidson, Inc. Thursday said it will keep its motorcycle operations in York, Pa., and move forward with plans to restructure those operations. The announcement follows yesterday’s ratification of a new seven-year labor agreement by company employees at York, represented by International Association of Machinists and Aerospace Workers (IAM) Local Lodge 175, and today’s decision by the Harley-Davidson Board of Directors to approve the restructuring plan and related funding.
Dec 3 · 1:28:00 PM · Source: Company News
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by Larry Etter
Retail Sales
CNBC.com is reporting that U.S. retailers from Macy's to Costco posted much weaker-than-expected sales for November as shoppers focused only on big bargains at the start of the key holiday selling season. Out of 15 retailers that reported by early Thursday, 11 missed analyst estimates, including Costco Wholesale, Children's Place, Walgreen and Hot Topic, according to Thomson Reuters data.
This is not encouraging for retail sales for the holiday shopping season.
Dec 3 · 12:35:00 PM · Source: CNBC.com
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by Rich Pike
Abercrombie & Fitch (ANF)
Abercrombie & Fitch today reported net sales of $245.7 million for the four-week period ended November 28, 2009, an 8% decrease from net sales of $267.3 million for the four-week period ended November 29, 2008. November comparable store sales decreased 17%. Total Company direct-to-consumer net merchandise sales increased 3% to $24.5 million.
Fellow teen retailer Aeropostale also reported disappointing November sales, which does not bode well for the holiday shopping season.
Dec 3 · 12:29:00 PM · Source: PR Newswire
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by Rich Pike
GE (GE)
The $30 billion deal that switches control of NBC Universal from General Electric to Comcast brings value to allow everyone involved to focus more sharply on their core businesses, leaders of the two companies said Thursday. Comcast, the largest cable TV operator in the US, will end up controlling 51 percent of the newly-formed company while GE will own 49 percent. Jeff Zucker, current president and CEO of NBCU, will be CEO of the new joint venture.
Dec 3 · 12:22:00 PM · Source: CNBC.com
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by Rich Pike
Del Monte Foods Company (DLM)
Del Monte Foods Thursday said that for the fiscal second quarter ended Nov. 1, profit from continuing operations was $62.6 million, or 31 cents a share, compared with $27.3 million, or 14 cents a share, a year earlier. Sales came in at $958.9 million -- a rise of 6.4 percent
Earnings topped analyst expectations and company raised its full-year guidance.
Dec 3 · 12:17:00 PM · Source: Company News
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by Larry Etter
Toll Brothers Inc. (TOL)
Toll Brothers Inc., the largest U.S. luxury-home builder, Thursday said its fiscal fourth quarter net loss widened to $111 million for the three months ended Oct. 31, or 68 cents a share, from $79 million, or 49 cents, a year earlier. Fourth-quarter costs fell 23 percent to $592 million from a year earlier, while revenue declined 30 percent to $486.6 million. Toll wrote down the value of its property and work in progress by $85.5 million in the quarter, down from $176 million a year earlier.
The earnings were below analyst expectations.
Dec 3 · 12:11:00 PM · Source: Company News
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by Larry Etter
Comcast (CMCSA)
Comcast, the largest U.S. cable company, and General Electric Thursday said they have signed a definitive agreement to form a joint venture that will be 51 percent owned by Comcast, 49 percent owned by GE and be managed by Comcast. The joint venture will consist of the NBC Universal (NBCU) businesses and Comcast's cable networks, regional sports networks and certain digital properties and certain unconsolidated investments.,
The companies said the venture will be well positioned to compete in "an increasingly dynamic and competitive media and digital environment."
Dec 3 · 12:02:00 PM · Source: Company News
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by Larry Etter
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