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MARKET CURRENTS

  • 11:27 AM Emclaire Financial Corp (EMCF) declares $0.20/share quarterly dividend, in line with previous. Forward yield 3.20%. For shareholders of record June 3. Payable June 21. Ex-div date May 30. (PR) Comment! [Dividends]
  • 11:26 AM Unipixel (UNXL +2.4%) is reiterated a Buy by Cowen & Co.'s Rob Stone who calls Friday's 26% plunge overdone.  "It is logical for the PC OEM partner to delay a new product launch within months of an operating system update," he writes. Addressing Atmel (ATML -0.1%), Stone says the "competitive landscape appears unchanged." Comment! [Tech]
  • 11:20 AM GlaxoSmithKline (GSK +1%) says it's been awarded up to $200M by the U.S. government to develop new antibiotics. Under the terms of the agreement, GSK will collaborate with the Biomedical Advanced Research and Development Authority, which is part of the U.S. Department of Health and Human Services, to develop several antibiotics to fight antibiotic resistance and bio-terrorism. GSK will receive $40M for the initial 18-month agreement and up to a total of $200M if the agreement is renewed over five years. Comment! [Healthcare, On the Move, Global & FX]
  • 11:18 AM Nintendo (NTDOY.PK) wins a patent infringement case filed against it by Copper Innovations Group over technology used in its Wii gaming console. The ruling adds to a growing trend of companies winning cases against somewhat broad claims of patent infringement in the tech industry. Overstock.com (OSTK +0.7%) on pesky patent damages pursuers: "Bullies need to have their noses bloodied once in a while." Comment! [Consumer, Tech]
  • 11:15 AM Rosetta Resources (ROSE -0.3%) is downgraded to Hold from Buy at Cowen, which thinks significant credit is priced in for vertical drilling potential in Permian assets. The firm's long-term positive view on ROSE is based on focused Eagle Ford development drilling, strong cash flow growth and a conservative balance sheet. Comment! [Energy, Quick Ideas]
  • 11:11 AM Flower Foods (FLO +3.5%) announces a three-for-two stock split to be payable on June 19 to shareholders of record on June 5. Comment! [Consumer]
  • 11:09 AM Syneron Medical (ELOS +2.3%) moves up after reporting a slightly better Q1 on the top line. Total revenue decreased on a Y/Y basis however, largely due to lower PAD segment revenue in EMEA and Japan, which was partially offset by moderate revenue growth in all other geographies and growth in EBU segment revenue. The company also said its board of directors has appointed Amit Meridor as the company's new president, reporting directly to CEO, Shimon Eckhouse. Existing board member David Schlachet has also been appointed as chairman. Comment! [Healthcare, Earnings, On the Move]
  • 11:07 AM AIG remains at the top Goldman's list of hedge fund hotels (the 50 stocks appearing most frequently among hedge fund top 10 holdings). Google (GOOG) retains its #2 position. Apple (APPL) - in the top spot for 3 years until February - remains at #3. Goldman notes the basket has outperformed the S&P a bit this year and the top 20 has done better by more than 1000 basis points. We smell an ETF offering. The rest of the top 20: C, GM, PCLN, VMED, NWSA, MSFT, HTZ, JPM, APC, PFE, QCOM, CHTR, HES, CBS, EBAY, DAL, EQIX. Comment!
  • 11:04 AM Wal-Mart (WMT -0.2%) finds a friend in Gap (GPS -0.3%) CEO Glenn Murphy who sided with the retail giant during a shareholder/analyst call when asked why the company didn't sign a highly-publicized Bangladesh building safety accord. The exec notes the framework of the agreement is European-based and it needs some U.S. accommodations before Gap and other U.S. retailers can become comfortable with it. (transcript) Comment!
  • 11:00 AM On the hour: Dow +0.38%. 10-yr -0.34%. Euro -0.22% vs. dollar. Crude -1.65% to $94.59. Gold -0.4% to $1372.05. Comment! [Dividends]
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TOP ARTICLES11:28 AM ET WEDNESDAY MAY 22
DIA 0.62%
SPY 0.60%
QQQ 0.34%
GLD 0.19%
ETF Movers
DXJ WisdomTree Japan Hedged Equity ETF 1.72%
ILB PIMCO Global Advantage Inflation-Linked Bond Strategy ETF 0.30%

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