Biogen Idec (BIIB) was downgraded by Piper Jaffray (PJC) to neutral from overweight, as the share price has been approacing the previously set $168 price target. Shares are lower by about 1.3 percent.
VIDEO: Daily Dividend Report: OZRK, PNC, SKT, HRL, SSS
Bank of the Ozarks Incorporated (OZRK) announced its quarterly dividend of 15 cents per share, an increase of about 7% over its prior dividend in October of 14 cents. The dividend is payable January 25, 2013 to shareholders of record as of January 18, 2013.
VIDEO: Thursday Sector Leaders: Textiles, Auto Dealerships
In trading on Thursday, textiles shares were relative leaders, up on the day by about 1.8%. Leading the group were shares of Quicksilver (ZQK), up about 8.4% and shares of Kingold Jewelry (KGJI) up about 6.8% on the day.
VIDEO: Landec Profit Doubles; Mellanox Reduces Outlook
Food packaging manufacturer Landec (LNDC) announced that second quarter profit more than doubled, and restated its first quarter results to account for an undervaluation of $2.9 million for its investment in Windset Holdings. The correction adds $1.8 million, or 7 cents per share, to first quarter earnings, for a total of 17 cents per share.
VIDEO: Dole Shares Lower After Announcing 2013 Earnings Forecast
Dole (DOLE) announced that it has been experiencing lower profit margins in its fruits business, and issued a disappointing 2013 earnings forecast. The company expects expects to report EBITDA of $150 million to $170 million this year.
VIDEO: Daily Market Wrap: January 2, 2012
A strong open on Wall Street on this first trading day of the year, as lawmakers reached an agreement to avert the fiscal cliff. The Institute for Supply Management’s non-manufacturing index increased to 50.7 in December, exceeding economists’ expectations.
VIDEO: Analyst Moves: TGT, ETR
Target (TGT) had its numbers reduced by Jefferies (JEF) after a tough holiday season. A $59 price target was set with a buy rating.
VIDEO: Analyst Moves: POM, FB
Pepco (POM) was upgraded by Wells Fargo (WFC) to outperform from market perform, as a better regulatory environment should add to the bottom line. Shares are higher by about 2.9 percent.
VIDEO: Wednesday Sector Leaders: Transportation Services, Construction Materials & Machinery Stocks
In trading on Wednesday, transportation services shares were relative leaders, up on the day by about 7.1%. Leading the group were shares of Zipcar (ZIP), up about 48.2% and shares of Echo Global Logistics (ECHO) up about 3.2% on the day.
VIDEO: Taxes Rise for Most Americans
Though the Senate and Congress passed a deal that prevented the United States from going over the dreaded fiscal cliff, nearly all Americans will be paying higher taxes in 2013. The legislation that was passed did not extend a two percent payroll tax holiday enacted during the recession, which would mean that a worker earning $50,000 per year should expect to pay about $1,000 more in taxes this year.