52-Week High Club

247wallst — Tue, 03 Nov 2009 21:03:16 +0000

Burlington Northern Santa Fe Corp (NYSE: BNI) surged close to 30% to a yearly high of $97.59 following news that Warren Buffett’s Berkshire Hathaway (NYSE: BRK.A) will be buying the freight rail operator for $100 per share, which places the value of the company at $44 billion.

The Black & Decker Corporation (NYSE: BDK) rallied close to 30% to a yearly high of $61.79 following news that the tool makers has agreed to be purchased by Stanley Works (NYSE: SWK) in an all stock deal valued at $4.5 billion.

Cognizant Technology Solutions Corp (NASDAQ: CTSH) rose over 8% to a yearly high of $42.40. The computer services and technology consulting company announced that its 3Q 09 profit rose roughly 21%, beating analyst estimates. The company also raised its 2009 profit estimate to $1.88 per share from $1.78 per share.

Landry’s Restaurants (NYSE: LNY) rose over 25% to a yearly high of $13.99. The restaurant, hospitality and entertainment company following rose on news that the company’s chief executive, Timothy J. Fertitta has agreed to purchase the company for $14.75 per share, or $1.2 billion.

Garrett W. McIntyre

Posted in Buffett, Consumer Goods, Earnings, Food, Hardware, Mergers and Buy Outs, Technology Companies Tagged: BDK, BNI, BRK-A, CSH, LNY, SWK, transportation

FedEx Finally Likes Fuel Prices As Economy Weakens (FDX, UPS)

247wallst — Tue, 09 Sep 2008 15:37:10 +0000

It looks like lower fuel prices are turning into net gains for transportation companies. Finally! FedEx Corporation (NYSE: FDX) has announced that it now expects to post earnings of $1.23 per share for the first quarter. This is well above previous earnings guidance of $0.80 to $1.00. For fiscal 2009, it has also reaffirmed its earnings guidance of $4.75 to $5.25 per share as weaker economic conditions offset these better-than-expected first quarter results. First Call has estimates at $0.95 for the quarter and $4.98 for the year.

Be advised that this new outlook assumes current fuel prices remain at their current levels.The company has reduced its planned capital investments by $400million, to $2.6 billion for fiscal 2009. Shares traded up 4% to$88.70 in the immediate after-hours trading session. United ParcelService Inc. (NYSE: UPS) also rose $3.2% to $67.18 on the FedEx news.

Jon C. Ogg
September 9, 2008

24/7 Wall St. » transportation

52-Week High Club

FedEx Finally Likes Fuel Prices As Economy Weakens (FDX, UPS)