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MARKET CURRENTS

  • 4:29 PM Home Federal Bancorp (HOME) declares $0.06/share quarterly dividend, in line with previous. Forward yield 2.02%. For shareholders of record June 7. Payable June 21. Ex-div date June 5. (PR) Comment! [Dividends]
  • 4:26 PM After rising nearly 13% at the open following better than expected Q1 revenues with a jump in subscribers to its premium service, Pandora (P -4.2%) shares moved too far too fast before falling amid questions about the quality of its results. "Pandora needs to show further monetization gains in order to reach sustainable profitabilty," Dougherty's Steven Frankel says. "The mission is far from complete." Comment! [Tech, On the Move]
  • 4:17 PM DA Davidson chimes in on HEICO (HEI +1.2%) today after the company posted a solid FQ2, raising its price target from $44 to $48 and reiterating its Buy rating. The firm says the raised guidance by the company indicates strong organic growth, while the benefits from its Reinhold acquisition also appear to be gaining traction as well. Credit Suisse also upped its price target on the shares as well on the strong quarter from $43 to $50. Comment! [Earnings, On the Move]
  • 4:17 PM Bob Evans Farms (BOBE) declares $0.275/share quarterly dividend, in line with previous. Forward yield 2.39%. For shareholders of record June 3. Payable June 17. Ex-div date May 30. (PR) Comment! [Dividends]
  • 4:10 PM Market recap: Stocks finished mostly lower but the Dow edged higher, avoiding its first three-day slump of the year. Given the light volume and the looming holiday weekend, investors likely were mostly "trimming around the edges" of their portfolios. Among S&P sectors, utilities and energy paced decliners, weak earnings weighed on retailers, and P&G lifted consumer staples. Comment! [Top Stories]
  • 4:06 PM Lockheed Martin's (LMT) F-35 fighter will be introduced in mid-2016, a year earlier than expected, Reuters said this week. In order to expedite the jet's operational debut, the Air Force will use a "slightly less capable version" of the plane's software package at first, with an upgrade to come later. (Also: F-35 cost falls) Comment!
  • 4:04 PM Otelco (OTT +25%) finished higher today after the company said it has emerged from its "prepackaged" Chapter 11 bankruptcy and completed its balance sheet restructuring process, including an extension of its senior credit facility. The restructuring reduces its total debt burden by more than 50% and extends its senior credit facility through April 2016. Comment! [On the Move]
  • 4:00 PM At the close: Dow +0.05% to 15302. S&P -0.06% to 1650. Nasdaq -0.3% to 3449.
    Treasurys: 30-year +0.16%. 10-yr 0%. 5-yr -0.02%.
    Commodities: Crude -0.33% to $93.94. Gold -0.67% to $1382.45.
    Currencies: Euro 0.% vs. dollar. Yen -0.91%. Pound -0.12%. Comment!
  • 3:57 PM Kodiak Oil & Gas (KOG) is started at Hold with an $11 price target by Deutsche Bank, which likens the company to a "young, talented player still looking for consistency." The firm sees "significant long-term asset value and peer-leading cash flow growth, but with directional risk to the price of crude and inherent risk in KOG's back-end loaded 2013 volume growth." Comment! [Energy, Quick Ideas]
  • 3:39 PM Private-equity is taking profits, with this week's 7 offerings pushing the year's total to 86, more than double the amount this time last year, according to Dealogic. The dollar amount of $34B is a triple. In addition to Oaktree (OAK) and Apollo (APO) insiders cashing in some chips this month, Bain sold chunks of Bloomin Brands and Sensata (ST), Carlyle (CG) unloaded part of Wesco Aircraft, and teamed with Blackstone (BX) to sell $1.3B of Nielsen Holdings (NLSN). Comment! [Financials]
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TOP ARTICLES4:33 PM ET FRIDAY MAY 24
DIA -0.05%
SPY -0.16%
QQQ -0.14%
GLD -0.57%
ETF Movers
GULF WisdomTree Middle East Dividend ETF 0.67%
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF 0.57%

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