Month: March 2012

Parent company of Dunkin’ Donuts and Baskin-Robbins is re-pricing their secondary public offering this morning, tendering more shares than expected.Dunkin’ Brands will now offer 26.4 million shares of its common stock at a price of $29.50 per share. In addition, the underwriters have been granted a 30-day option to purchase up to an additional 3.96 million shares from certain of the selling stockholders. This will make Dunkin’s secondary offering worth nearly $780 million.J.P. Morgan, Barclays, Morgan Stanley, and Bank of America/Merrill Lynch are lead underwriters to the offering.Dunkin’ Brands shares are currently down 0.7% to $29.88.

The Commerce Department reported today consumer spending rose 0.8%, the largest gain in seven months. This is more than expected with the average consensus estimate around an increase of 0.6%This brings hope that the biggest part of the economy is strengthening. However, another part of the report showed incomes advanced only 0.2%, less than the forecasted 0.4% increase by analysts. But, factoring in all of the data, investors are still optimistic. Ten minutes after the opening bell, all major indices were up slightly, all over a quarter of a percent higher.

Honda (NYSE:HMC) announced that it is recalling more than 550,000 CR-V and Pilot SUV’s due to low beam headlights that fail, according to a report by the Associated Press.The affected models are 2002-2004 CR-Vs and 2003 pilots.Owners will start getting notices by late April and Honda will fix the problem for affected car owners.Honda Motor (NYSE:HMC) has potential upside of 14.5% based on a current price of $38.32 and an average consensus analyst price target of $43.86.

Shares of ImmunoGen (NASDAQ:IMGN) rose 10% on Friday morning after the company announced a trial of its breast-cancer treatment yielding hopeful results.Immunogen (NASDAQ:IMGN) has potential upside of 11.8% based on a current price of $15.21 and an average consensus analyst price target of $17.Immunogen is currently above its 50-day moving average (MA) of $13.68 and above its 200-day of $12.43.

Arts and crafts retailer Michael’s has filed with the U.S. Securities and Exchange Commission for an initial public offering. Michaels Stores hopes to raise $500 million dollars and didn’t specify the number of shares it plans to sell. The amount is a placeholder used to calculate fees and may change.The arts and crafts retailer had sales of $4.2 billion in the year ended January 28, 2012 with almost 1,200 locations. It was bought by Blackstone Group LP and Bain Capital in 2006 in a deal valued at about $6 billion.The stock will be listed on the New York Stock Exchange under the symbol MIK. J.P. Morgan Chase and Goldman Sachs are managing the IPO.

The New York Post reported that former Goldman Sachs (NYSE:GS) executive Greg Smith has signed a book deal for $1.5 million to tell his story. He reportedly signed the deal with Hachette Book Group on Thursday.Smith quit Goldman earlier this month and wrote a piece in the New York Times bashing the company.Goldman Sachs Group (NYSE:GS) has potential upside of 7% based on a current price of $125.36 and an average consensus analyst price target of $134.13.

The most popular social networking site is hitting the public market very soon.Facebook just announced that it will be halting the trading of its shares on secondary markets this Friday at noon as it prepares to finalize everything for its initial public offering.According to the Wall Street journal, the website’s IPO will be in May which could value the company at $100 billion. Also recently there’s been trouble with Facebook’s CEO Mark Zuckerberg, who wants at least $5 billion more from Wall Street investors to finalize the IPO. However, he didn’t give them much face time by skipping the company’s first major briefing for analysts and bankers last week. The lead underwriter for the IPO is investment bank Morgan Stanley which will be featured in an upcoming video that will be shown when Facebook begins courting investors.

Popular quarterback Tim Tebow, who was just traded to the New York Jets, is already indirectly involved in a lawsuit before the season has started.Sports apparel company Nike (NYSE:NKE) is filing a lawsuit against Reebok over using Tim Tebow’s name on Jets-related apparel without permission. This come just as Nike replaced Reebok on Sunday as the supplier of NFL team uniforms.A temporary retraining order blocking further sales of the merchandise by Reebok was issued and Nike is seeking unspecified damages. NIKE (NYSE:NKE) has potential upside of 9.1% based on a current price of $107.23 and an average consensus analyst price target of $117.

MPs James Rajotte, Peter Julian and Judy Sgro address criticism that the federal budget creates generational and regional rifts

This thirteenth trading week of 2012 comes to a close with stocks on track to post their best quarterly gain in almost 14 years. Hi.