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MARKET CURRENTS

  • 5:05 PM The next version of Surface RT (MSFT) will rely on both Qualcomm (QCOM) and Nvidia (NVDA) CPUs, Bloomberg reports. Though details are scant, one likely possibility is that Nvidia (the sole supplier for the first-gen RT) will power Wi-Fi-only models, and Qualcomm will power 3G/4G-capable models. The report comes as all signs indicate Qualcomm is set to displace Nvidia as the Nexus 7's CPU supplier. Meanwhile, Microsoft is selling the 32GB version of RT for just $199 (a 60% discount) to schools until Aug. 31, the latest in a string of aggressive promotions ahead of a refresh that could be announced at the upcoming BUILD conference. Comment! [Tech]
  • 5:00 PM PetroLogistics (PDH) says it's successfully completed repairs to its propane dehydrogenation facility and the facility has resumed propylene production. The facility was closed earlier this month for repairs on two of the eight reactors at the plant. Total costs for all completed repairs are expected to be less than $2.5M. Shares +0.7% AH. Comment! [Commodities, On the Move]
  • 5:00 PM On the hour: S&P +0.03%. 10-yr flat. Euro -0.03% vs. dollar. Crude +0.21% to $98.84. Gold -0.02% to $1366.75. Comment!
  • 4:53 PM Today's 14% jump caps a five-day 60% advance in Zion Oil & Gas (ZN) on no apparent news, but this isn't the first time ZN shares have seen such wild swings. Evan Buck urges extreme caution in the company that's "definitely not a kosher investment," highlighting Delek US Holdings (DK) and Noble Energy (NBL) as far wiser plays on Israel's natural gas finds. Comment! [Energy, On the Move]
  • 4:50 PM River Valley Bancorp (RIVR) declares $0.21/share quarterly dividend, in line with previous. Forward yield 3.84%. For shareholders of record June 28. Payable July 12. Ex-div date June 26. (PR) Comment! [Dividends]
  • 4:48 PM Fulton Financial (FULT) declares $0.08/share quarterly dividend, in line with previous. Forward yield 2.81%. For shareholders of record June 28. Payable July 08. Ex-div date June 26. Shares +1.8% AH. (PR) Comment! [Dividends]
  • 4:46 PM More on La-Z-Boy (LZB): FQ4 beats on all counts. Net earnings fell 6.6% Y/Y however, as year-ago results were bolstered by a large benefit from antidumping income. Margins improved in the latest period to 33.8% from 31.6%. Retail segment sales, which includes La-Z-Boy Furniture Galleries stores, swung to an operating profit of $4M from a year-earlier loss of $1.1M. Same-store written sales rose 11.2%, while wholesale upholstery, the main contributor to its top line, saw revenue grow 8.4% to $289.4M. Comment! [Earnings, Consumer]
  • 4:45 PM NB&T Financial (NBTF) declares $0.30/share quarterly dividend, in line with previous. Forward yield 5.91%. For shareholders of record June 28. Payable July 22. Ex-div date June 26. (PR) Comment! [Dividends]
  • 4:43 PM First Business Financial Services (FBIZ) declares $0.14/share quarterly dividend, in line with previous. Forward yield 1.95%. For shareholders of record July 1. Payable July 15. Ex-div date June 27. (PR) Comment! [Dividends]
  • 4:43 PM A little more on Adobe: Marketing Cloud bookings +25% Y/Y. 26% of Digital Marketing transactions now mobile (25% in FQ1). 42% of Document Services (Acrobat) revenue subscription-based; 1M+ paid subs. 3.9M shares repurchased. R&D spend +12% Y/Y to $203M, sales/marketing spend +4% to $402M. Company on track to reach goal of 1.25M Creative Cloud subs by end of FY13; 93% of CC subs on annual (rather than monthly) plans. Deferred revenue -1% Q/Q to $691.3M. 35% of company's revenue recurring at end of FQ2, up from 31% at end of FQ1. (PR) Comment! [Tech, Earnings]
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TOP ARTICLES5:20 PM ET TUESDAY JUN 18
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SPY 0.74%
QQQ 0.74%
GLD -1.15%
ETF Movers
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BUND PIMCO Germany Bond Index ETF 1.33%

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