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MARKET CURRENTS

  • 2:33 PM Brown-Forman (BF.B) declares $0.255/share quarterly dividend, in line with previous. Forward yield 1.43%. For shareholders of record June 5. Payable July 1 . Ex-div date June 3. (PR) Comment! [Dividends]
  • 2:29 PM Sempra Energy (SRE -3%) digs out of session lows but remains the S&P 500's worst performer after cutting the top end of guidance for 2013 and offering a weak outlook for 2014. SRE says it is seeking to further optimize its capital structure through additional subsidiary debt and equity issuances, including a possible MLP using Cameron liquefaction as a foundation. Comment! [Energy, On the Move]
  • 2:27 PM Atrion Corporation (ATRI) declares $0.56/share quarterly dividend, in line with previous. Forward yield 1.07%. For shareholders of record June 14. Payable June 28 . Ex-div date June 12. (PR) Comment! [Dividends]
  • 2:18 PM Shanda Games (GAME +16.4%) rips higher despite a subdued Q1 earnings report. During an earnings call, the company highlighted its mobile game launch progress, saying Million Arthur launched already in Korea, and in Taiwan on the Android and iOS platforms and will hit Mainland China and Singapore this summer. (transcript) Comment! [Tech, On the Move]
  • 2:09 PM "We think the impact will be between €5B and €10B," the Bank of Spain tells FT, in the first official estimate of the additional provisions Spain's banks will need to take against bad loans as the government prepares to do away with "extend and pretend." Although the extra provisioning will no doubt weigh on results, expectations are that Banco Santander (SAN -0.2%) and BBVA +1.86% will have no trouble absorbing the hit, though it isn't clear that the same can be said of smaller banks. Comment! [Global & FX]
  • 2:07 PM Boeing (BA +1.7%) updates its Orders and Deliveries page for the week, saying that since its last update it has received 107 new orders consisting of six 777s and 101 737s. In the Changes category, it reduced 737 net orders by 24. Additionally, the company says that Chinese regulators have cleared local airlines to fly the 787 Dreamliner, and are expected to allow them to launch overseas flights within a matter of months. Comment! [On the Move, Global & FX, Consumer]
  • 2:06 PM The NYSE rules to let stand all trades in American Electric Power (AEP -1%) and NextEra Energy (NEE -1.2%) but prices for certain "aberrant" trades will be excluded from the high and low prices in data feeds. There were hundreds of trades early this morning in AEP at or below $46.03 and in NEE at or below $76.19, more than 50% below yesterday's closing prices. 4 Comments [Energy]
  • 2:03 PM Starbucks (SBUX -1.4%) takes the news of a potentially cooling China economy a little worse than other large service/consumer product companies with future growth prospects in China increasingly part of its valuation. SBUX in China by the numbers: The company's 800 China outlets in 58 cities grew same-store sales by 8% and brought in over $200M last quarter. The brand claims 61% of the China coffee market and sees opening 1.5K stores by 2015. Comment! [Consumer]
  • 2:00 PM On the hour: Dow -0.12%. 10-yr +0.06%. Euro +0.59% vs. dollar. Crude -0.99% to $93.35. Gold +1.71% to $1390.75. Comment!
  • 1:55 PM Topeka initiates InvenSense (INVN +0.2%) at Buy and assigns a $16 price target, representing a 29% upside from yesterday's close. Analyst Suji De Silva cites the company's market leading position in motion sensing functionality. (See also: Pac Crest says INVN to gain AAPL as client) 1 Comment [Tech]
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TOP ARTICLES2:39 PM ET THURSDAY MAY 23
DIA -0.05%
SPY -0.35%
QQQ -0.22%
GLD 1.91%
ETF Movers
CCXE WisdomTree Commodity Country Equity ETF 1.50%
ZROZ PIMCO 25+ Year Zero Coupon U.S. Treasury Index ETF 0.31%

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