In trading on Thursday, life & health insurance shares were relative leaders, up on the day by about 0.4%. Leading the group were shares of Flagstone Reinsurance Holdings S (FSR), up about 18.6% and shares of Ing Groep NV (ING) up about 3.5% on the day.
Andy Warhol revitalized the Campbell’s (NYSE:CPB) soup can in the 1960’s and he’s set to do it again, 25 years after his death. The Campbell Soup Company will introduce a line of special-edition cans depicting Warhol’s iconic imagery this sunday in Target stores. While Campbell was hesitant towards Warhol’s work depicting its cans when it first hit the art world, by 1964 the company expressed its approval of his pieces. In fact, this is not the first time they have used his work. Campbell commissioned Warhol to do paintings for advertisements in 1985. The soup company will distribute 1.7 million specialty cans, coming in four varieties, each costing 75 cents.
The Daily Ticker’s Henry Blodget talks to David Kotok.
ROBBINS SAYS VOTERS CONCERNED ABOUT FINANCES
From Fnno.com, this is the Financial News Network. Here’s a few things to watch for in the financial world today August 27.Hertz Global Holdings (NYSE:HTZ) buying out one its rivals after more than two years of takeover talks. The number two U.S. car rental company will be acquiring Dollar Thrifty (NYSE:DTG) for $2.3 billion or around $87.50 per share. Both Hertz and another car rental rival, Avis Group, were looking to takeover the smaller competitor, both extending offers in 2010. But, Hertz ended up winning out, almost nearly doubling its first bid of $1.2 billion. The deal’s closing is still subject to regulatory approval.Iconic jewelry maker Tiffany & Co. (NYSE:TIF) didn’t meet profit expectations in the most recent quarter. The company posted an EPS of 72 cents a share, lower than the 74 cents analysts were expecting. Revenue did rise 2% to $886.6 million, but was also below the street’s estimate of $891.1 million. Chairman and CEO of the company Michael Kowalski said Tiffany’s sales growth was hurt by tough economic conditions and higher product costs. The company also lowered its full-year earnings forecast to a range of $3.55 to $3.70. Analysts are predicting 2012 earnings to be $3.65 per share.Finally, AOL (NASDAQ:AOL) giving some love to those holding company stock. The internet company announced a special dividend, returning $1.1 billion to its shareholders. AOL will also repurchase $600 million in shares under an accelerated agreement with Barclays. The dividend will be $5.15 per share, paid on December 14 to shareholders of record at the close of business on December 5.Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.
From Fnno.com, This is the financial news network. Here’s what’s in the news for Monday August 27, 2012. The Wall Street Journal reports Apple”s (NASDAQ:AAPL) court victory over Samsung Electronics (PINK:SSNLF) cements its dominance of the wireless industry and could force carriers, and even Google (NASDAQ:GOOG), to re-evaluate their product plans and strategies. Reuters reports Nomura Holdings (NMR) is finalizing plans to cut hundreds of jobs, mainly in equities and investment banking, in an overhaul aimed at restoring its overseas operations to profitability, sources say. Reuters also reports Fox Sports (NYSE:NWSA) and the Los Angeles Dodgers began preliminary talks in May on a multi-billion dollar cable TV deal, sources say. Bloomberg reports Samsung Electronics (PINK:SSNLF), ordered by a U.S. jury to pay Apple (NASDAQ:AAPL) over $1B for infringing six mobile device patents, asked a judge to lift a ban on the U.S. sales of the Galaxy 10.1 tablet computer. The jury decided the Galaxy device didn’t infringe an Apple patent so the preliminary ban on its sale should be dissolved, Samsung said in a court filing in federal court. Bloomberg also reports oil gained the most in a week as Tropical Storm Isaac closed Gulf of Mexico production and gasoline reached a four-month high after a refinery explosion in Venezuela. Oil was up 0.8% to $96.96 a barrel this morning in London and gasoline increased 4.1% to $3.205 a gallon, the highest since April. For more financial news and analysis follow us on Twitter @FNNOnline or check out our website at fnno.com.
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.
Hertz Global Holdings (NYSE:HTZ) buying out one its rivals after more than two years of takeover talks. The number two U.S. car rental company will be acquiring Dollar Thrifty (NYSE:DTG) for $2.3 billion or around $87.50 per share. Both Hertz and another car rental rival, Avis Group, were looking to takeover the smaller competitor, both extending offers in 2010. But, Hertz ended up winning out, almost nearly doubling its first bid of $1.2 billion. The deal’s closing is still subject to regulatory approval. The rental car company will also sell its budget brand Advantage to Franchise Services of North America and Macquarie Capital as part of the acquisition. According to Bloomberg, the sale could be worth $16 million.Hertz and Dollar Thrifty stock are up over 12% and over 7% respectively in early trading.
From Fnno.com, this is the Financial News Network. Here’s a few things to watch for in the financial world today August 28.Lexmark (NYSE:LXK) announcing jobs cuts and the closing of its inkjet business to transfer focus to other business units. The printer maker said it will no longer make their inkjet printers and will instead sell its more sophisticated laser printers. In response to the closing of one of its business units, 1,700 jobs will be cut and a plant in the Philippines will close by the end of 2015. Lexmark will also take a $160 million pre-tax charge related to its restructuring.Sanderson Farms (NASDAQ:SAFM) seeing better third quarter profits on higher poultry prices. The U.S. chicken producer posted an EPS of $1.25, higher than the $1.20 analysts were expecting. Revenue for the quarter jumped 22% to $624.9 million, also above the street’s estimate of $620 million. The main reason for the jump is the price of chicken, which rose 8.6% in the quarter. The recent drought caused crop prices to rise which ultimately causes livestock prices to rise as well. Finally, the recent Apple/Samsung trial has caused a shake up in the mobile phone industry. The ruling, which said Samsung infringed on many of Apple’s design and software patents, has caused concern among businesses competing with the two companies. Many owners and investors are worried the trial is just a slippery slope that could cause a drop in competition and a spike in prices. Although Samsung was hurt the most by the case, Google felt some pressure with investors believing its mobile operating system Android will be on the chopping block next. No matter what though, this type of lawsuit will continue to shake up the mobile sector and any company with a stake in it will be something to watch today.Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.
In trading on Wednesday, apparel stores shares were relative leaders, up on the day by about 1.3%. Leading the group were shares of JOS.