Lowe’s Companies Inc. (NYSE: LOW) reported first fiscal quarter results this morning that were better than the consensus estimate, but full-year EPS guidance did not meet the prior estimate and the stock is getting…
Investor Carl Icahn now holds about 80% of oil refiner and fertilizer maker CVR Energy Inc. (NYSE: CVI). Icahn held about 69% of the company before the close of his extended tender offer last…
For the past six years, the country that has produced the most oil (and liquids) has been Russia. Saudi Arabia has been second, until this past March according to data from the Joint Organization…
Late last Friday, credit rating firm Fitch Ratings downgraded the already low corporate credit rating of Chesapeake Energy Corp. (NYSE: CHK) from ‘BB’ to ‘BB-’. The firm also lowered its rating on Chesapeake’s preferred…
The three major US stock indexes opened somewhat higher this morning as investors paid little attention to last night’s downgrade of Spain’s banks (more coverage here). With little economic data on tap today, US…
At this weekend’s meeting of the leaders of the G8 countries (the US, the UK,Germany, Japan, Canada, Italy, France, and Russia) at Camp David, President Obama is expected to raise the issue of selling…
Renren Inc. (NYSE: RENN), the Chinese company usually referred to as China’s Facebook Inc. (NASDAQ: FB), is down sharply this morning on very heavy volume. There’s no news, except the Facebook IPO, and speculation…
ZyngaShares of Zynga Inc. (NASDAQ: ZNGA) were halted shortly afterFacebook Inc. (NASDAQ: FB) launched this morning as the delayed opening caused the game-maker’s shareholders to run away from the stock in big numbers. Shares…
The three states with the highest unemployment rates in April were Nevada (11.7%), Rhode Island (11.2%), and California (10.9%). The three states with the lowest rates were North Dakota (3%), Nebraska (3.9%), and South…
Recreational vehicle maker Winnebago Industries Inc. (NYSE: WGO) said this morning that the company received an offer from private equity firm North Street Capital L.P. to acquire all of Winnebago’s outstanding shares for $11/share…
Two major US shoe retailers reported results this morning, and both blew through estimates. Brown Shoe Co. (NYSE: BWS), which ocourtesy Foot Locker Inc.wns the Famous Footwear stores among other brands, and Footlocker Inc.…
Kraft Foods Inc. (NYSE: KFT) announced this morning that it has received a “favorable private letter ruling” from the US Internal Revenue Service “confirming the tax-free status of the planned spin-off of the company’s…
The 16-member board of directors of Canadian Pacific Railway Ltd. (NYSE: CP) today includes 7 new members nominated by William Ackman and his hedge fund, Pershing Square Capital Management. The new board wasted no…
Late yesterday the US Department of Commerce released its preliminary findings in the anti-dumping case against Chinese solar panel makers. The principal finding of the International Trade Administration, the DoC agency that rules on…
The three major US stock indexes opened essentially flat this morning as investors were faced with a flat report on new claims for jobless benefits (our coverage here). Manufacturing data from the Philadelphia Fed…
The first US pipeline to carry crude oil from the hub at Cushing, Oklahoma, to the US Gulf Coast will begin to be filled this weekend. The Seaway pipeline has been in operation since…
According to its latest survey, Gallup reports that the unadjusteUS unemployment rate fell from 8.3% in April to 8.2% in mid-May. The research firm’ mid-month survey on unemployment has tracked official Bureau of Labor…
China’s largest B2C e-commerce company, E-Commerce China Dangdang Inc. (NYSE: DANG) reported first quarter results last night that did not stir investors much until they got to the forecast. The company’s loss per ADR…
Given the company’s horrible showing for the first quarter, the last thing MEMC Electronic Materials Inc. (NYSE: WFR) needed was to have a management shake-up. But that’s what the solar wafer maker got last…
The interest rate on a 30-year fixed-rate mortgage fell to an all-time low of 3.79% last week according to Freddie Mac. The previous record low was 3.83% set in last week, and the rate…