Associated Press | Shares of BP are dropping as the company’s board decides whether to
suspend its hefty dividend because of the oil spill in the Gulf of
Mexico.
Filed under: Stock activity
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BP shares drop as board meets on dividend
Stocks start the week higher, led by Caterpillar
Dow Jones Newswires | U.S. stocks rose Monday, as hopes for global growth were lifted by an unexpectedly strong jump in euro zone industrial production and encouraging comments from a Federal Reserve member. Caterpillar led the measure’s gains, rising 2 percent as expectations for global demand rose.
BP’s shares climb for a second day in a row
Reuters | BP shares moved higher for a second straight day Friday as investors
apparently dismissed new estimates that the oil spill in the Gulf of
Mexico could be far worse than previously thought and reports the
company may defer its second-quarter dividend.
Wall Street climbs in late advance on chip makers
Reuters | U.S. stocks rose in a late rally Friday as a strong forecast from a chip
maker lifted tech shares and helped alleviate concerns about the
economy’s health after an unexpected drop in retail sales.
June 11, 2010 at 1:55 p.m.
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Filed under: Investing, Pharmaceuticals, Retail, Stock activity Analysts warn of Walgreen share risk
From Crain’s Chicago Business | Wall Street analysts say shares in Walgreen could take a major hit from its split with CVS Caremark. Analysts say investors are underestimating the amount of business the No. 1 pharmacy chain could lose in its decision to leave Caremark’s benefits management business.
Shares of Walgreen were down down 2.2 percent, to $29.30, in late afternoon trading.
Read the full story: chicagobusiness.com
Tellabs says it hasn’t lost AT&T business
Reuters | Communications equipment maker Tellabs Inc. on Thursday denied speculation that it was losing business from top U.S. phone company AT&T to a rival, and said orders were strong.
Competition had increased, but there were “no degradations” in the relationship with AT&T, Tellabs Chief Financial Officer Tim Wiggins said, adding that he was seeing stronger orders than expected.
Discover shares rise on takeover rumors
Dow Jones Newswires | Discover Financial Services was among the top gainers in a buoyant Standard & Poor’s 500 Thursday, outpacing the broader index as speculation swirled of a possible takeover, though there appeared to be little factual basis behind the reports.
The volume of trading in the credit-card company was higher than average as the stock rose 8% to $13.57 in recent action. Peers Visa Inc., MasterCard Inc. and Capital One Financial Corp. each rose around 5%, all on less than half of typical volume.
Car emission control market drives up Tenneco
Dow Jones Newswires | Shares of Tenneco Inc. (TEN) jumped a day
after the auto-parts maker projected a much bigger market for its
emission control systems.
In a meeting with analysts Wednesday, Tenneco — which also makes
automotive ride control products — boosted the estimate for its market
for commercial-vehicle emissions control after-treatment to $8 billion
from previous expectations of $5 billion to $6 billion.
BP shares rebound from 14-year low
Associated Press | Shares of BP bounced off a 14-year low Thursday as the oil giant assured investors that it can deal with the cost of the giant oil spill in the Gulf of Mexico.
Get the full story: BP shares rebound from 14-year low.
W.W. Grainger shares up on higher May sales
Reuters | WW Grainger Inc.’s daily sales for May jumped 16 percent, and the
industrial distributor said it expects to benefit from the oil spill
clean up in the Gulf of Mexico, sending its shares up about 5 percent.
The company said it saw an increase in sales for products such as oil
booms, degreasers and safety supplies, and expects oil spill related
sales to contribute to growth for some time.
Potash Corp. shares rise on stronger corn price
Reuters | Shares of Potash Corp of Saskatchewan rose more than 3 percent on Thursday, as corn futures moved higher following bullish data in the latest U.S. Department of Agriculture crop report.
Bunge Ltd. rethinks bid for Corn Products Intl.
From the San Francisco Chronicle | BMO Capital Markets said that Bunge Ltd., the world’s second-largest sugar trader, is less likely to revive a bid for Corn Products International Inc. after announcing a plan to buy back as much as $700 million of stock.
Get the full story: sfgate.com.
Morgan Stanley downgrade trips Tellabs
Reuters | Shares in Tellabs Inc. fell 6.5 percent Tuesday after
Morgan Stanley downgraded the telecommunications equipment maker’s
shares citing an expectation that AT&T Inc would switch to Cisco
Systems.
Tellabs shares closed down 44 cents, to $6.31, on Nasdaq after Morgan
Stanley analyst Ehud Gelblum said AT&T is planning a “relatively
quick transition away from” Tellabs 8860 router to a product from Cisco
about a year from now.
Wall Street flat as Europe worries offset Bernanke
Reuters | Wall Street was flat in choppy trade Tuesday after relinquishing early gains, as euro-zone concerns offset reassuring comments from Federal Reserve Chairman Ben Bernanke on the state of the U.S. economy. Oak Brook-based McDonald’s Corp dipped 0.8 percent to $66.25, after the fast-food chain
reported a stronger-than-expected rise in worldwide same-store sales in
May.
Corn futures falls to eight-month low in Chicago
From Bloomberg | Corn futures fell to the lowest level in eight months in Chicago as favorable weather boosted the prospect for yields in the U.S., the largest grower and exporter of the grain.
Get the full story: businessweek.com.
