FREE Breaking News Alerts from StreetInsider.com!
E-mail Address
Top News Most Read Highlighted
March 11, 2013 5:32 PM EDT Tweet
Get Alerts AMX Hot Sheet
NEUTRAL ( Down)
End of the Day: S&P 500 up 5.0 to 1,556.22; Dow Jones up 50.2 to 14,447.29; Nasdaq up 8.5 to 3,252.87
The following is a brief summary of events moving markets today:
* Illinois was charged by the U.S. Securities and Exchange Commission over possible fraud. The SEC alleges that Illinois mislead municipal-bond investors by failing to report just how much it was underfunding its pension system. The case was settled without any fines or penalties being imposed, according to the agency.
* America Movil S.A.B. de C.V. (NYSE: AMX) and Grupo Televisa SAB (NYSE: TV) were active today following headlines that a bill proposed in Mexico would all for the breakup of phone and television companies. The bill would allow for the breakup of companies with greater than 50 percent market share, according to co-drafter Acosta Naranjo.
* Dicks Sporting Goods, Inc. (NYSE: DKS) reported Q4 EPS of $1.06, in-line with the analyst estimate of $1.06. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.86 billion. Comps rose 1.2 percent. The company sees FY13 EPS of $2.84 to $2.86 with comps up two percent to three percent. The Street is at EPS of $2.92.
* New York City Mayor Mike Bloomberg received a set back Monday as his proposed soda ban in New York City might not go through as expected. At least, not as quickly. Bloomberg was looking to put the kibosh on sports venues, service stations, and other locales from selling extraordinarily large sugary drinks just one day before it was slated to go into effect. For more color, click here.
* China passenger vehicle sales for January and February largely outpaced expectations.
* Icahn Enterprises L.P. (Nasdaq: IEP) today announced that on March 10, 2013 it entered into a confidentiality agreement with Dell Inc (Nasdaq: DELL). Icahn Enterprises looks forward to commencing its review of Dell’s confidential information.
* VeriFone’s (NYSE: PAY) Board announced that Douglas G. Bergeron is stepping down as Chief Executive Officer and member of the Board of Directors, effective March 12. VeriFone’s Chairman, Richard McGinn, has been named Interim CEO and continues as a member of the Board; Leslie Denend has been named Interim Chairman. For more from the release, click here.
* GAMCO’s Howard Ward commented on Bloomberg TV on Monday that Apple (Nasdaq: AAPL) might introduce a new capital reallocation plan for its cash next month. Ward believes Apple is currently engineering the plan out right now. He didn’t mention specific ideas of what sort of reallocation Apple might try.
* AT&T (NYSE: T) said it would begin selling BlackBerry’s (Nasdaq: BBRY) Z10 smartphone on March 22nd. The device will go for $199.99 with two-year contract. For more color, click here.
Click here to go to Streetinsider’s Full News Feed and never miss a beat!
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items – JOIN NOW