Containerboard manufacturer, Packaging Corp of America, (NYSE: PKG) reported late last evening that fiscal second quarter net income increased 43%, aided by both rise in the shipments and prices of corrugated products.
Continue reading Packaging Corp of America Tops Q2 Forecast, Shares Gain Sharply in Afterhours (PKG)
Shares of the Coca Cola Company (NYSE: KO) fell about 2.90% in early trade as the soft drink giant disappointed with fiscal second quarter results. Coca Cola posted a net income of $2.68 billion or 59 cents a share compared to a profit of $2.79 billion or 61 cents a share, in the year-earlier quarter.
Continue reading Major Movers on July 16; KO, CTAS, MPC, BIDU, BWLD
China’s leading search engine company, Baidu.com Inc. (ADR) (NASDAQ: BIDU) announced on Tuesday that it has entered in a preliminary deal with NetDragon to acquire China’s major app store developer, 91 wireless in deal worth $1.9 billion.
Continue reading Baidu to Acquire China’s App store Developer 91 Wireline for $1.90 Billion (BIDU)
Diversified insurance agency, Brown & Brown Inc. (NYSE: BRO) announced better than expected preliminary fiscal second quarter results on Monday.
Continue reading Brown & Brown Provides Upbeat Outlook for Q2 (BRO)
Shares of Power Integrations Inc. (NASDAQ: POWI) rallied about 8.90% by midday trade. The San Jose CA based Company, which manufacturers integrated-circuits used in energy-efficient power converters, upwardly revised fiscal second quarter revenue guidance on Monday.
Continue reading Major Movers on July 15; POWI, LEAP, RVLT, NAV, TIF, QLGC, and ARUN
Luxury jewelry retailer, Tiffany & Co. (NYSE: TIF) was upgraded by analysts at Stifel Nicoluas to “buy” from “hold” on Monday. The firm has set a price target of $92.00 on the stock, which implies an upside potential of 19.45%.
Continue reading Tiffany Shares Gain After Stifel Nicoluas Upgrade (TIF)
AT &T Inc. (NYSE: T) announced on Friday that it has agreed to acquire a prepaid wireless communication services provider, Leap Wireless International Inc. (NASDAQ: LEAP), in an approximate deal of $4 billion. The deal also assumes Leap Wireless International’s debt.
Continue reading AT&T to Acquire Leap Wireless International (T, LEAP)
Shares of Spreadtrum Communications Inc. (ADR) (NASDAQ: SPRD) catapulted about 12.90% by afternoon trade on Friday after the smartphone chip maker announced that it has agreed to be acquired by China’s Tsinghua Holdings Co for $1.78 billion. The offer price of $31 per ADS implies a premium of 17% over SPRD closing stock price on Thursday, which was $26.45. This was a sweetened offer from Tsinghua. Earlier in June, Tsinghua offered $28.50 per ADS.
Continue reading Major Movers on July 12; SPRD, RSH, FIVE, WBMD, QSII, VLO
Shares of Spreadtrum Communications Inc. (ADR) (NASDAQ: SPRD) rallied on Friday after the smartphone chip maker said that it has agreed to be acquired by China’s Tsinghua Holdings Co in deal valued at $1.78 billion.
Shares of most homebuilders rallied on Thursday, thanks to the Federal Reserve Chairman Ben Bernanke’s extremely dovish remarks.