This forty eighth trading week of 2012 comes to a close with investors keeping a close eye on negotiations between the President and Congressional leaders, as both sides seek to avoid the ominous fiscal cliff from occuring that would result in an automatic reduction in government spending and mandated cuts. Hi.
United Natural Foods (UNFI) announced that first quarter income was higher by 42 percent due to strong sales. The company earned $21.5 million, or 43 cents per share, versus $15.2 million, or 31 cents per share, in the same period last year.
ReneSola (SOL) announced that it lost $78.6 million, or 91 cents per American depository share for the quarter ended September 30, versus a loss of $8.2 million, or 9 cents per ADS, in the same period a year earlier. Results included a $31.6 million inventory value write down.
Kohl’s (KSS) was downgraded to hold from buy by Deutsche Bank (DB) due to a sharp drop in sales. Shares are lower by about one percent.
The Daily Ticker’s Aaron Task interviews Reuters Breakingviews Rob Cox
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at one noteworthy recent insider buy.
Range Resources Corporation (RRC) maintained its quarterly dividend of 4 cents per share. The dividend is payable on December 28, 2012 to stockholders of record at the close of business on December 14, 2012.
In trading on Friday, metals & mining shares were relative leaders, up on the day by about 1.9%. Leading the group were shares of Prospect Global Resources (PGRX), up about 17.4% and shares of Oxford Resource Partners Limited (OXF) up about 7.4% on the day.
Here’s the latest news for Friday November 30th: President Obama urges Congress to extend tax cuts; Train derails in New Jersey; Missouri Powerball winners revealed; Federal officials hunt for a crocodile.
House Speaker John Boehner says bargaining between White House officials and congressional leaders to avoid the fiscal cliff has gone “almost nowhere.”