Microsoft Corp. is ramping up its dividend for the first time in two years as it prepared to borrow billions of dollars. Its board of directors agreed on a quarterly dividend of 16 cents per share, an increase of 3 cents or 23 percent over the prior quarter’s dividend. Get the full story »
Filed under: Stock activity
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Discover shares up on news that it beat expectations
Discover Financial Services reported a higher-than-expected quarterly profit on Monday as charge-offs fell and consumers spent more on their credit cards, sending its shares up about 3 percent.
The credit card lender and transaction processing network reported profit of $260.6 million, or 47 cents per share, well above analysts’ average expectations of 38 cents per share. Get the full story »
Oil jumps above $75 as S&P 500 hits 4-month peak
Oil prices rose on Monday, snapping a four-day slump and lifted by a rallying equities market expecting the U.S. Federal Reserve to keep its policies steady at a meeting this week and bouncing after crude prices slumped 3.7 percent last week. Get the full story »
Tighter rules for market makers post-’flash crash’
U.S. stock exchanges proposed tighter rules for stock “market makers” Friday meant to ensure they provide more useful liquidity in stressful times such as the May “flash crash.” Get the full story »
Analyst downgrades W.W. Grainger
An FBR Capital Markets analyst on Tuesday cut his rating on shares of W.W. Grainger Inc., saying the facilities maintenance company’s stock is too expensive in light of slowing economic growth and an expectation for tougher sales comparisons for the rest of the year.
Russell 1000, ETFs added to ‘flash crash’ halts
The Securities and Exchange Commission adopted new rules Friday to expand the trading halts it implemented after the May 6 “flash crash” and to harmonize stock exchanges’ procedures for breaking erroneous trades. Get the full story »
Sep. 8, 2010 at 2:12 p.m.
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Filed under: Exchanges, Government, Investigations, Markets, Regulations, Stock activity SEC looks at stub quote ban after flash crash
Regulators probing the stock market “flash crash” in May still have not uncovered a single cause but will point to “stub quotes” and other previously identified issues as having exacerbated the market’s dramatic drop, according to two sources familiar with the probe.
A third source said the Securities and Exchange Commission is still asking about a “smoking gun” that might explain the May 6 crash, when the Dow Jones industrial average plunged some 700 points before sharply recovering, all in about 20 minutes. Get the full story »
Oil up to $75 as stocks rise, Europe worries ease
Oil prices followed stocks higher on Wednesday, as worries about European debt problems eased and buyers returned to the market.
Stocks close week higher for first time in month
The stock market has posted its first winning week in a month after news on the economy started getting better. Get the full story »
Motorola to pump $3.5B into SpinCo
Motorola Inc. plans to spin off its mobile phone and television set-top box businesses with $3.5 billion in cash when the Schaumburg-based company splits in two early next year.
Motorola SpinCo Holdings Corp., the entity created in preparation of the separation, disclosed the capitalization amount in a Tuesday filing with the U.S. Securities and Exchange Commission. Get the full story »
Ameritrade fixes derivatives platform glitch
TD Ameritrade Holding Corp. said Tuesday that it had resolved technology issues that slowed trading and other functions on its Thinkorswim derivatives platform.
The retail brokerage cited a problem with one of Thinkorswim’s market-scanning functions, which affected customers Monday and resurfaced shortly after the open Tuesday. Get the full story »
Aug. 27, 2010 at 11:10 a.m.
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Filed under: Jobs/employment, Manufacturing, Sports, Stock activity Fortune Brands adds 300 jobs to cabinet business
Fortune Brands Inc., whose products range from tequila to golf clubs and faucets, will add more than 300 jobs in the next three years on new business for its MasterBrand Cabinets unit. Get the full story »
