Month: May 2013

Shares of EMC Corp. ( EMC ) rallied 5.37% to close at $24.93 on May 30, 2013, after the data storage systems provider announced that its board of directors has increased its existing $1.0 billion share repurchase authorization to $6.0 billion. The share repurchase program is expected to be complete by Dec 31, 2015. […]

Scientific Games Corporation ( SGMS ) has signed a contract with Oklahoma Lottery. The contract is scheduled to take effect from Aug 9, 2013. […]

R.R. Donnelley & Sons ( RRD ) recently announced that it has entered into an extended agreement with Harlequin, a subsidiary of Toronto-based media company Torstar Corporation to provide eBook and digital content fulfillment services. Under the terms of the agreement, Donnelley will use its LibreDigital platform to convert content into digital eBooks and will deliver them to Harlequin’s business partners and retailers. […]

On May 27, 2013, we reiterated our Neutral recommendation on People's United Financial Inc. ( PBCT ), based on its healthy capital position and reducing non-performing assets. Yet, revenue headwinds are a concern amid a tepid economic recovery, low interest rate and a tough regulatory environment. […]

We have maintained our long-term Neutral recommendation on upscale department store operator, Nordstrom Inc. ( JWN ) with a target price of $63.00, following its weaker-than-expected first-quarter 2013 results, offset by its ongoing efforts to boost top-line growth by relentless focus on expanding its stores network. Why the Reiteration? […]

SCANA Corporation ’s ( SCG ) regulated subsidiary South Carolina Electric & Gas Company is pushing for electricity rate hikes. The utility filed for a 2.97% consolidated hike on its approved electric rates with the Public Service Commission of South Carolina and the South Carolina Office of Regulatory Staff. The company is confident of getting a favorable ruling owing to the existing provisions of the Base Load Review Act, or BLRA […]

Kosmos Energy Ltd. ( KOS ) is making steady inroads into Ghana, where its Plan of Development (PoD) was recently approved for the Tweneboa-Enyenra-Ntomme (TEN) discoveries. […]

Biogen Idec Inc. ( BIIB ) recently announced that it expects a delay in the EU launch of its oral multiple sclerosis treatment, Tecfidera, as it continues to work on strengthening patent protection for the candidate. […]

Chemical company Eastman Chemical Co. ( EMN ) is investing $1.6 billion for expansion in Tennessee, according to Associated Press. The move is expected to create 300 new job opportunities over a period of 7 years […]

DuPont ( DD ) declared that it will raise prices for all of its titanium dioxide (TiO2) products sold in North America, Europe, the Middle East, Africa, Latin America and the Asia Pacific regions. The price hike will be effective from Jul 1, 2013, or as contracts permit. DuPont said that price for its Ti-Pure titanium dioxide (TiO2) grades sold in the Asia Pacific and Latin America regions will be $200 per metric ton […]

MasTec, Inc. ( MTZ ) has acquired Big Country Energy Services Inc and its affiliated operating companies for $103 million in cash. The acquisition terms also include assumption of approximately $24 million of Big Country’ debt and a 5-year contingent earn-out. […]

Big Lots Inc . ( BIG ) reported first-quarter fiscal 2013 consolidated adjusted earnings of 61 cents a share that came in line with the Zacks Consensus Estimate and was within management’s earlier guidance of 53 cents to 65 cents. However, it declined 10.3% year over year […]