Month: August 2012

Esprit, the Europe-focused clothing retailer, appointed a new CEO and consequently drove its shares to their largest one-day gain in 14 years.Esprit, which has been struggling recently, saw the unexpected resignations of both its CEO and its Chairman back in June. But now, the company has appointed Jose Manuel Martinez Gutierrez as CEO. Gutierrez is currently an executive at Esprit’s larger rival, Inditex, which is the world’s largest fashion retailer. On the news, Esprit shares jumped 28 percent.Now, according to Reuters, Esprit can move ahead with a crucial $2.3 billion restructuring plan, in which the company plans to expand in China and diversify its earnings sources. For more on the latest financial new and analysis, follow us on Twitter @FNNOnline, or check out our website at fnno.com

LSI Logic (LSI) was upgraded by Goldman Sachs to buy from neutral with a $9 price target as margin expansion should be driven by the firms networking and solid state business. Shares are higher by over four percent.

Yahoo! Washington Bureau Chief David Chalian interviews Steve Forbes

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.

In trading on Tuesday, education & training services shares were relative leaders, up on the day by about 5.1%. Leading the group were shares of Grand Canyon Education (LOPE), up about 24.2% and shares of Education Management (EDMC) up about 17.4% on the day.

CVS Caremark (CVS) announced that it earned $966 million, or 75 cents per share, in its most recent fiscal quarter, versus $816 million, or 16 cents per share, in the same period last year. Results beat estimates, and revenue increased by 16 percent.

8-01-2012- You may have to wait a little longer to get your hands on Google’s new media streaming device. The internet behemoth told customers who pre-ordered its Nexus Q gadget that shipments would be delayed so that devices could be improved. Early reviews of the device were poor, with some criticizing it for being too limited in its abilities. No doubt this poor reception sparked the need for adjustments to be made.The Nexus Q will retail for $299 and currently only works with Google related media. The device is meant to compete with Apple’s Apple TV, which retails for only $99 and works for non-Apple related media. For more coverage of the business world follow us on Twitter @FNNonline.

Stocks finished modestly higher on Monday hitting fresh three-month highs, amid expectations that the ECB would address the region’s debt crisis. In corporate news, Apple (AAPL) said the new version of its iPhone and iPad software will not include Google’s (GOOG) YouTube app preinstalled.

Time Warner Inc. (NYSE: TWX) has acquired the sports news website The Bleacher Report through its Turner Broadcasting division. According to the Wall Street Journal, Turner Broadcasting paid approximately $175 million dollars for the website. Turner is buying The Bleacher Report in an attempt to add to its already impressive sports media portfolio. The division currently manages two other flagship sports websites: basketball’s NBA.com, and golf’s PGA.com. Turner Broadcasting is known primarily for its television stations, such as CNN and TBS. The Bleacher Report was founded in 2006 and is viewed by over 10 million unique visitors a month.

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.