Market News
Bank of America (BAC)
UBS initiated coverage for Bank of America with a recommendation of Buy.
Dec 17 · 3:21:00 PM
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by Rich Pike
AT&T (T)
Deutsche Bank initiated coverage for AT&T with a recommendation of Hold.
Dec 17 · 3:12:00 PM
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by Rich Pike
ADP (ADP)
Janney Mntgmy Scott downgraded ADP from Buy to Neutral.
Dec 17 · 2:16:00 PM
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by Rich Pike
Advanced Micro Devices (AMD)
Advanced Micro Devices, Inc. announced today that it has completed its offer to purchase for cash, on a pro rata basis, up to $1,000,000,000 aggregate principal amount of its 5.75% Convertible Senior Notes due 2012 (the “notes”), at a purchase price equal to $990 per $1,000 of the principal amount of such notes, plus accrued and unpaid interest thereon.
Dec 17 · 12:11:00 PM · Source: Company News
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by Larry Etter
HP (HPQ)
HP Thursday announced enhancements to the HP Integrity NonStop portfolio that deliver increased capacity, improved performance and enhanced enterprise integration, enabling customers to drive business efficiency while providing greater service levels.
Dec 17 · 12:08:00 PM · Source: Company News Release
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by Larry Etter
Hovnanian Enterprises Inc (HOV)
Home builder Hovnanian Enterprises said it posted a fiscal fourth quarter loss of $250.8 million, or $3.21 a share, compared with a year-earlier loss of $450.5 million, or $5.79 a share. It was the company's 13th consecutive loss. The latest results included $146.4 million in land related-charges, down from $319.9 million a year earlier.
Revenue tumbled 39% to $437.4 million. It expects a tax refund between $275 million and $295 million sometime next year.
Dec 17 · 12:01:00 PM · Source: Company News
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by Larry Etter
Rite Aid Corporation (RAD)
Rite Aid said it posted a third quarter loss of $83.9 million, or 10 cents a share, compared with a prior-year loss of $243.1 million, or 30 cents a share. Revenue declined 1.8% to $6.35 billion primarily because of store closings and a drop in front-of-the-store sales.
The loss was smaller than analysts had expected.
Dec 17 · 11:41:00 AM · Source: Company News
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by Larry Etter
Crane Company (CR)
Crane Co. announced today it has sold General Technology Corporation, a subsidiary of Crane Co., to IEC Electronics Corp. for $14.2 million. GTC, also known as Crane Electronic Manufacturing Services, has revenue of approximately $25 million. Crane Co. expects to record a tax benefit of approximately $0.09 per share resulting from this divestiture. This benefit was not included in the Company’s earnings guidance issued on October 26, 2009, of GAAP EPS for the full year 2009 of $1.90-$2.05.
Dec 17 · 11:23:00 AM · Source: Company News
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by Larry Etter
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