Month: February 2013

Aruba Networks (ARUN) was upgraded by Morgan Stanley (MS) to overweight with a $28 price target as the company has been experiencing margin expansion. Shares are higher by about 8.3 percent.

ConnectOne Bancorp (CNOB), formerly known as North Jersey Community Bancorp, the holding company for ConnectOne Bank, announced today the closing of its previously announced initial public offering of 1,600,000 shares of common stock at $28.00 per share resulting in aggregate gross proceeds of $44.8 million. The shares issued today do not include up to 240,000 shares which may be purchased by the underwriters within 30 days pursuant to their over-allotment option granted by ConnectOne.

General Electric Company (GE) maintained its quarterly dividend of 19 cents per share. The ex-dividend date is February 21, 2013.

In trading on Friday, paper & forest products shares were relative leaders, up on the day by about 1.6%. Leading the group were shares of Meadwestvaco (MWV), up about 9.6% and shares of Louisiana Pacific (LPX) up about 3.1% on the day.

Finance officials from the Group of 20 major economies meeting in Moscow are struggling to find common ground on currencies and borrowing, exposing rifts between those who advocate growth and those who support more austerity to revive the world economy. Ivor Bennett reports

Whiting Petroleum (WLL) was upgraded by BMO (BMO) to outperform from market perform with a price target of $60, as the firm believes that the company possess more drilling inventory than the market believes. Shares are higher by about 2.6 percent.

Marin Software today announced that it has filed a registration statement with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. The number of shares to be sold and the price range for the proposed offering have not yet been determined.

In trading on Thursday, advertising shares were relative leaders, up on the day by about 3.9%. Leading the group were shares of Angies List (ANGI), up about 32.9% and shares of Groupon (GRPN) up about 3.1% on the day.

DirecTV (DTV) announced that it earned $942 million, or $1.55 per share, versus $718 million, or $1.02 per share in the same period last year. Revenue increased by 8 percent to $8.05 billion.

Molina Healthcare (MOH) was upgraded by Bank of America/Merrill Lynch (BAC) from neutral to buy with a price target of $41 due to strong momentum and tailwinds from health care reform. Shares are higher by about 1.8 percent.