Honda (NYSE:HMC) announced plans to launch 10 new models in China amid a its broader outlook for sales to double in the region, execs said.The automaker will unveil a number of China-focused small cars along with upgrades on older models as part of the initiative.
X-Rite (NASDAQ:XRIT) agreed to be acquired by Danaher (NYSE:DHR) for $5.55 per share in cash.The price tag is about $625 million total, which represents a 39% premium over X-Rite’s $4 closing share price on Monday.X-Rite (NASDAQ:XRIT) has potential upside of 25% based on a current price of $4 and an average consensus analyst price target of $5.
After AOL’s announcement yesterday morning its plans to sell over 800 patents to Microsoft (NASDAQ:MSFT), shares of the company reached a new high.The stock finished with its highest volume this year and breaking a 2-month range by 7.98 at $26.40.AOL is currently above its 50-day moving average (MA) of $18.28 and above its 200-day of $15.94.
Tomorrow after the close, Alcoa (NYSE:AA) will start the earnings season when it reports its Q1 results.Analysts are expecting earnings per share of a loss of $0.04 and revenues of $5.77 billion.Alcoa (NYSE:AA) has potential upside of 22.5% based on a current price of $9.6 and an average consensus analyst price target of $11.76.Alcoa is currently below its 50-day moving average (MA) of $10.22 and below its 200-day MA of $11.12.
Jacobs Engineering (JEC) was downgraded today by JP Morgan (JPM) to neutral from overweight as the stock has been approaching the $52.50 price target set by the firm. Shares are lower by about 2.25 percent.
The markets extended their losing streak as we get into the unofficial start of earnings season with Alcoa (AA) set to report results after the bell today. On the economic front, the Commerce Department is reporting that wholesale inventories rose by 0.9 percent in February to a record $478.9 billion, which was more than economists expected.
Plains All American Pipeline (PAA) announced its quarterly dividend of 1 dollar and 4.5 cents per share, an increase of about 2% over its prior dividend in February of 1 dollar and 2.5 cents. The distribution will be payable on May 15, 2012, to holders of record of such units at the close of business on May 4, 2012.
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
Carl Icahn filed a complaint in Delaware against Amylin Pharmaceuticals (NASDAQ:AMLN) that seeks the extension of the board nomination deadline, and if successful, will nominate a slate of directors.The filing also demanded books and records to examine circumstances in relation to the reported Bristol-Myers Squibb (NYSE:BMY) proposal and stock offering.Amylin has until Wednesday to respond. Icahn intends on going to court if the firm doesn’t respond.This is news comes after Amylin rejected a $22 per share offer from Bristol-Myers earlier this year.
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
