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MARKET CURRENTS

  • 3:16 PM Viad Corp (VVI) declares $0.10/share quarterly dividend, in line with previous. Forward yield 1.56%. For shareholders of record June 7. Payable July 1. Ex-div date June 5. (PR) Comment! [Dividends]
  • 3:00 PM On the hour: Dow +0.5%. 10-yr +0.08%. Euro +0.14% vs. dollar. Crude -0.8% to $96.16. Gold -0.76% to $1373.55. Comment!
  • 2:59 PM Battle back on: 19 retailers say they will opt out of a $7.25B settlement with Visa (V +0.2%) and MasterCard (MA +0.7%) over interchange fees and will consider additional legal action against the companies. The highly-anticipated move from the heavyweight retailers (WMT, GPS, COST, NKE) comes about a week before a court deadline in the case. Comment! [Consumer]
  • 2:56 PM A good deal of MetLife's (MET -0.9%) investor day presentation (webcast) (slides) focuses on limiting risk in variable annuities. The insurer's biggest lever to lower cost of equity capital, says CEO Steve Kandarian is addressing VA risk - among the steps is reducing VA sales ($28B in 2011 to $10B-$11B expected in 2013). The company also plans to merge 3 life insurance subsidiaries and one foreign reinsurer into a larger, well-capitalized, more transparent company that also satisfies Dodd-Frank rules. Comment! [Financials]
  • 2:54 PM TrustCo Bank Corp NY (TRST) declares $0.065625/share quarterly dividend, in line with previous. Forward yield 4.61%. For shareholders of record June 7. Payable July 1. Ex-div date June 5. (PR) Comment! [Dividends]
  • 2:53 PM In what could be a win for PayPal (EBAY), Google (GOOG) is shutting down Checkout in 6 months to focus its online payments efforts on Wallet. Though Google will still handle payment processing for developers selling on Google properties (Play, Chrome Web Store, Offers Marketplace), 3rd-party merchants using Checkout and lacking an internal processing solution will have to find an alternative. The announcement comes a week after Google announced several new Wallet features, including new developer APIs and an option to attach money to Gmail messages. Comment! [Tech]
  • 2:49 PM Five cars from a Canadian Pacific (CP -0.2%) train derailed earlier today in Saskatchewan, and one leaked crude oil; there is no estimate of the amount of oil spilled. CP already has suffered two derailments involving crude oil this year, one in Ontario and the other in Minnesota. Comment! [Energy, Consumer]
  • 2:48 PM Commercial National Financial Corporation (CNAF) declares $0.26/share quarterly dividend, in line with previous. Forward yield 4.75%. For shareholders of record May 31. Payable June 7. Ex-div date May 29. (PR) Comment! [Dividends]
  • 2:42 PM eBay (EBAY -0.9%) continues to look for more ways to grow the use of PayPal. New initiatives include RadioShack (RSH -2.7%) setting up PayPal as a payment option at its stores beginning this month and working with Jamba Juice (JMBA +0.7%) to find a way for its customers to pre-order drinks and pick them up in a separate line. The big picture: PayPal will be in an estimated 2M merchant locations by the end of the year, but the company still has some major work to do to break the swipe habits of consumers. Comment! [Consumer]
  • 2:40 PM Quest Diagnostics (DGX) declares $0.30/share quarterly dividend, in line with previous. Forward yield 1.95%. For shareholders of record July 2. Payable July 17. Ex-div date June 28. (PR) Comment! [Dividends]
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TOP ARTICLES3:16 PM ET TUESDAY MAY 21
DIA 0.46%
SPY 0.34%
QQQ 0.29%
GLD -1.58%
ETF Movers
DXJ WisdomTree Japan Hedged Equity ETF 1.53%
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF 0.79%

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