Fifth Third (FITB) was upgraded today by Wells Fargo (WFC) to outperform, as the firm believes taht the bank can deliver sold returns with its commerical loans business. Shares are higher by about four tenths of a percent.
Thursday 5/31 Insider Buying Report: GCI, PWER
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.
Interest Rates Hit Record Lows, But Are Not Helping the Economy
The Daily Ticker’s Aaron Task talks to Lance Roberts about the perlis of a low interest rate environment.
Stocks Slump on Worries Over Spain’s Credit Crisis
The Daily Ticker’s Aaron Task and Henry Blodget discuss the latest concerns out of Europe with Rob Cox.
Pep Boys Plummets 22% As Gores Group Pulls Bid, Stifel Issues Negative Comments
Pep Boys’ stock plummeted 22% after the decrease of a buyout deal with a Los Angeles-based private equity company.Pep Boys, which is based in Philadelphia and has 130 shops in California, announced on Tuesday that it plans to terminate its $1.1-billion buyout by The Gores Group.The automotive retail and repair chain said Gores would pay Pep Boys a $50-million termination fee. Pep Boys will also get reimbursed for certain merger expenses, according to a filing with the U.S. Securities and Exchange Commission.Gores agreed to buy Pep Boys and the $15 per share deal was announced January 30th. The private-equity firm seemed to be backing out earlier this month after Pep Boys announced disappointing earnings in the first-quarter.Pep Boys’ stock fell $2.41 a share, or 22%, to $8.68 in early trading on Wall Street.
Tivo Announces Earnings
Tivo (TIVO) announced on Wednesday that lost $20.8 million in its first fiscal quarter, versus a profit in the same quarter last year when it settled a patent infringement case with Dish Network (DISH) for $175.7 million. expected a loss of 15 cents per share.
Thursday Sector Leaders: Apparel Stores, Cigarettes & Tobacco Stocks
In trading on Thursday, apparel stores shares were relative leaders, up on the day by about 1.4%. Leading the group were shares of Talbots (TLB), up about 92.2% and shares of Stage Stores (SSI) up about 3.8% on the day.
Dell Releases New All-In-One Desktop to Rival iMac
Computer-maker Dell (NASDAQ:DELL) giving Apple (NASDAQ:AAPL) a run for its money. The company released a new all-in-one desktop called the XPS One that rival’s Apple’s iMac. The XPS One is the first 27-inch PC on the market to achieve the Apple 27-inch iMac’s display resolution of 2560 by 1440. The new computer also beats Apple in terms of processing power and price. The XPS One starts at $1,399, a good $300 less than an iMac. It also has the latest in processing power, Intel’s Ivy Bridge technology. It is also rumored that the XPS will have touch capabilities in the future, to work with Microsoft’s (NYSE:MSFT) new Windows 8 operating system. Dell shares are climbing on this news. Currently the company is up over 1% to $12.64 in early trading.
Amazon.com Offers Prepaid Internet Cards In Japan
Amazon.com (NASDAQ:AMZN) might be testing out a new product, but not here in the U.S. The internet retailer will be begin offering prepaid internet access for smartphones and tablet computers in Japan.The company plans to sell SIM cards for $25 USD that offer as much as 500 MB of data usage. This offering in Japan means these prepaid SIM cards could appear in the U.S. market very soon. The new product is quite different from the many wireless companies that offer internet access in conjunction with calling contracts.Amazon is relatively flat, up just over a tenth of a percent to $213.35 in early trading.
Analyst Moves: JACK, RIMM
Jack in the Box (JACK) was upgraded today by Oppenheimer (OPY) from perform to buy with a price target of $32, as there are indication that individual stores are doing better. Shares are higher by nearly 1.8 percent.
