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Market News

Location American Market News for 6 March 2013

Daily Wrap: 3/6/2013

Forbes - 6 Mar 2013 23:47
Just one day after the Dow hit an all-time high, the markets turned mixed, even as the latest economic data showed signs of an improving economy.
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Core Capital Goods Orders Increase

Forbes - 6 Mar 2013 23:46
The Commerce Department announced on Wednesday that orders for core capital goods increased by 7.2 percent from December, the biggest gain in more than a year and higher than the initial estimate of 6.3 percent. Total fa...
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Global Power Equipment Group Common (GLPW) maintained its quarterly dividend of 9 cents per share. The dividend will be payable on or about March 29, 2013 to stockholders of record at the close of business on March 18, 2...
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American Tower Sells $1.8 Billion in ABS

Wall Street Journal - 6 Mar 2013 23:31
American Tower sold $1.8 billion of asset-backed securities on Wednesday, the biggest ABS offering outside of the auto-loan sector since 2009.
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Analyst Moves: CPNO, NWSA

Forbes - 6 Mar 2013 23:02
Copano Energy (CPNO) had its price target and estimates increased by UBS (UBS) after the company reported strong earnings in the fourth quarter. A $40 price target was issued to account for the pending acquisition by Kin...
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The IPO Class Of 2013

Forbes - 6 Mar 2013 22:44
The IPO Class Of 2013 Facebook defined the IPO Class of 2012 with its huge, controversial offering. After an up-and-down year overall for new offerings, 2013 brings more uncertainty as market weakness in the first half could keep a lid on inv...
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Analyst Moves: JCP, DRI

Forbes - 6 Mar 2013 21:59
J.C. Penney (JCP) was downgraded by Citigroup (C) to neutral as a return to top line growth seems to be taking longer than expected. A $15 price target was issued.
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Analyst Moves: BBY, DF

Forbes - 6 Mar 2013 21:28
Best Buy (BBY) was upgraded by Jefferies (JEF) to buy with a price target of $24 price target as the the worst news for the company appears to be over and things should improve going forward.
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IRS Amnesty for Employers of Household Help

Wall Street Journal - 6 Mar 2013 20:25
Employing a nanny or other household workers can open a can of worms with the Internal Revenue Service, but the agency wants to make it easier for someone who mishandles taxes for their hired help to put things right.
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Venezuela Debt Weakens After Death of Chávez

Wall Street Journal - 6 Mar 2013 19:37
Investors sold Venezuelan bonds after the death of President Hugo Chávez, amid uncertainty about how his successor will address the country's troubled economy.
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Life After Facebook: Nasdaq Will Hook Up With SharesPost To Sell Private Stock Nasdaq OMX and SharesPost will join to create a new exchange that will allow accredited investors to buy private-company shares. The move reflects the competition and new landscape these market-makers face--particularly ...
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Advisers Find Alternatives in Mortgage REITs

Wall Street Journal - 6 Mar 2013 19:35
As stock real estate funds strive for a fifth-straight year of gains, a hybrid type of investment offering plumper dividends is off to an even better start.
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Kraft Foods Group (KRFT) maintained its quarterly dividend of 50 cents per share. This dividend is payable on April 12, 2013 to shareholders of record as of March 29, 2013.
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China Fund Chief Warns Japan on Yen

Wall Street Journal - 6 Mar 2013 18:59
The president of China's sovereign-wealth fund, CIC, warned Japan against using its neighbors as a "garbage bin" by deliberately devaluing the yen.
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Driving the Dow

Wall Street Journal - 6 Mar 2013 18:58
Five stocks gave a huge boost to the Dow Jones Industrial Average on the way from its March 9, 2009, low to its new high Tuesday. Here's a look at the biggest contributors to the Dow's rise.
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Then And Now

Wall Street Journal - 6 Mar 2013 18:57
Wealth and well-being now and at the Dow's previous peak.
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Best Buy's Price Matching Strategy Helps As Turnaround Efforts Drag On Electronics retailing giant Best Buy announced its Q4 and annual results on March 1. The company reported Q4 revenues of $16.71 billion, marginally higher than $16.67 billion in the comparable period last year. It manage...
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In trading on Wednesday, textiles shares were relative leaders, up on the day by about 1.3%. Leading the group were shares of American Apparel (APP), up about 10.4% and shares of Kingold Jewelry (KGJI) up about 6.1% on t...
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On March 6, the mobile app industry witnessed something that it had not seen since April 2010. No Rovio games in the US Top 90 chart of iPhone apps generating most revenue. According to Appshopper, Angry Birds Star Wars ...
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Treasurys Extend Losses on Jobs Report

Wall Street Journal - 6 Mar 2013 16:26
Treasurys are poised for three-straight losing sessions, as prices tumbled on a better-than-expected jobs report.
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Staples Announces Earnings

Forbes - 6 Mar 2013 15:59
Office supply company Staples (SPLS) announced that net income dropped to $78.1 million, or 12 cents per share, for the fourth quarter, down from $283.6 million, or 41 cents per share, in the same period last year. Exclu...
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BOE's King Urges Breakup of RBS

Wall Street Journal - 6 Mar 2013 15:06
Departing Bank of England Gov. Mervyn King called for a "decisive restructuring" of state-controlled lender Royal Bank of Scotland.
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