Sara Lee Chasing Smithfield as Buyer for Meat Products? (SLE, SFD)
Sara Lee Inc. (NYSE: SLE) plans to complete the spin-off of its coffee and tea division in June, and it is believed to be looking for a buyer for its meat products division, which…
All Work
Paul Ausick
Household Debt Higher for First Time Since 2008 Recession
US household debt climbed 0.3% in the fourth quarter of 2011, the first rise in the number since the second quarter of 2008. Business debt grew by 4.6%, also the fastest rate since 2008.…
Mortgage Rates at 60-year Lows
According to the latest survey by Freddie Mac, a 30-year fixed-rate mortgage interest rate at the end of last week was 3.88%. That’s down a full point from the same mortgage one year ago.…
Exxon Production Estimated to Drop in 2012 (XOM)
In a presentation to analysts at the New York Stock Exchange today, Exxon Mobil Corp. (NYSE: XOM) Rex Tillerson said that the company would see a production decline of -3% in 2012, compared with…
Mid-day Movers (VRS, STLY, MWA, DNDN, CLVS)
Shortly after noon ET today, all three major US stock indexes have posted solid gains, with the DJIA up about 54 points at around12,892, the Nasdaq up about 27 points at 2,963, and the…
Navistar Falls on Lousy Earnings Report (NAV)
Truck and engine maker Navistar International Corp. (NYSE: NAV) reported first fiscal quarter earnings this morning, and the stock is sinking following a very poor performance. The company reported an adjusted EPS loss of…
Natural Gas Inventories, Prices Fall Again
The US Energy Information Administration today reported the US natural gas stocks fell by a total of 80 billion cubic feet, lower than the drawdown of 82-86 billion cubic feet that analysts had expected.…
Morning Movers (STLY, IPSU, MWA, DNDN, JKS)
The three major US equities indexes opened higher this morning as the news from Europe virtually guarantees a successful debt swap deal for Greece today. The dollar is weakening today, down -0.48% this morning…
Stein Mart Misses Fourth-Quarter Estimates, Shares Drop (SMRT)
Clothing retailer Stein Mart Inc. (NASDAQ: SMRT) reported fourth-quarter and full-year earnings this morning that missed consensus estimates. For the quarter, the company posted adjusted EPS of $0.15, compared with a consensus estimate of…
UN Group Forecasts Near-record Wheat Production for 2012
The United Nations’ Food and Agriculture Organization (FAO) is forecasting a 2011-2012 global wheat crop of 690 million metric tons, down -1.4%, or 10 million metric tons, from the record crop of 2010-2011. The…
Apple, Book Publishers Face Anti-trust Suit (AAPL, CBS, NWS, PSO, AMZN, BKS)
The US Department of Justice is prepared to sue Apple Inc. (NASDAQ: AAPL) and five book publishers for colluding to lift prices on electronic books according to a report in The Wall Street Journal.…
McDonald’s Same-store Sales Up, But Warns on Growth (MCD)
Fast food giant McDonald’s Corp. (NYSE: MCD) today reported same-store sales in February rose 7.5% year-over-year and total sales rose 9.4% (9.7% in constant currency) in the month. US same-store sales rose 11.1%, sales…
Morning Wire — US Stock-Index Futures Stronger
US index futures are up this morning as markets respond positively to the near-certain completion of the Greek debt swap deal. In the US today, the report on new jobless claims is expected to…
Greek Debt Deal Sends Italian Yields to 10-month Low
The hits just keep on coming in the wake of the near-certainty that Greece will be able to complete its debt swap deal today, and, in doing so, prevent the entire eurozone from collapsing.…
Brent Crude Tops $125 on Greek Debt Deal
The virtual certainty that Greece will reach agreement with its creditors on the negotiated debt swap deal is sending Brent crude oil prices near a yearly high this morning. The spot price for Brent…
Germany Beats Estimates on Industrial Output
Yesterday’s report on factory orders in Germany was unexpectedly low as exports to other eurozone countries fell by -8.6%. Today, the country’s Economy Ministry reported that industrial output rose more than expected in January,…
24/7 Wall St. Closing Bell (AAPL, ADP, KFT, PG, MCO, LULU, ADGF, CHTP, AEO, BWS, CSIQ, CTIC, HOV, TRCR, MAG, BONT, P, VRML)
US stocks opened higher this morning following an in-line report from ADP on US employment gains. There was little economic news out today, but we can anticipate tomorrow’s report on new jobless claims and,…
Toyota Recalls 682,000 Cars, Trucks (TM)
In the latest blow to its vaunted reputation for quality, Toyota Motor Corp. (NYSE: TM) today announced a recall of 682,000 cars and pickups. The company issued a recall of 420,000 Lexus and Toyota…
Apple Unveils New iPad, Apple TV (AAPL, VZ, VOD, T, S, AMZN, RIMM, SSNLF)
Apple Inc. (NASDAQ: AAPL) today announced its latest version of its market leading tablet, the iPad. That’s right — no number, just iPad. The latest iPad will cost $499 for the base 16-GB version,…
Mid-day Movers (TRCR, DSCO, BONT, P, VRML)
Shortly after noon ET today, all three major US stock indexes have risen to intra-day highs, with the DJIA up about 81 points at around12,840, the Nasdaq up about 29 points at 2,938, and…