Morning Coffee Pre-Market Wall Street News123 views 2012-11-28 08:28 Tags: background company latest white style
Costco Announced Special Dividend. Bulk retailer Costco (COST) is the latest company to announce a special dividend to be paid out prior to the New Year. The dividend of $3 billion or $7.00 per share will allow shareholders to take advantage of the current 15% tax rate on dividends. Beginning next year taxes on dividends are expected to increase to 40% versus the current 15%. This quarter alone a record 103 companies have said that they'll pay special dividends before the end of the year. If taxes on dividends are increased to 40% companies are expected to favor share buybacks over dividends. Pre-market: 100.26 +3.75 (3.89%)
AK Steel (AKS): Dahlman Rose raised their rating from Sell to Hold. Pre-market: 3.83 +0.04 (1.06%)
Ensco (ESV): Deutsche Bank lowered their rating from Buy to Hold and placed a target price of $58.00 on the company.
Nabors (NBR): Deutsche Bank lowered their rating from Buy to Hold and placed a target price of $28.00 on the company. Pre-market: 14.12 +0.32 (2.32%)
Sherwin-Williams (SHW): Nomura lowered their rating from Buy to Neutral and placed a target price of $170.00 on the company. Pre-market: 155.81 -1.34 (-0.85%)
Vodafone PLC (VOD): Robert W. Baird initiated coverage with an Outperform rating and target price of $30.00. Pre-market: 25.19 +0.15 (0.60%)
Check Point Software (CHKP): BMO Capital initiated coverage with a Market Perform rating and target price of $48.00.
Green Mountain Coffee (GMCR): Reported EPS of $0.65 beating estimates by +$0.16. Pre-market: 34.58 +5.63 (19.45%)
American Eagle (AEO): Reported EPS of $0.41 beating estimates by +$0.02. Pre-market: 20.70 +1.31 (6.76%)
Express (EXPR): Reported EPS of $0.20 beating estimates by +$0.03. Pre-market: 14.18 +1.19 (9.16%)
Jos. A Bank (JOSB): Reported EPS of $0.47 missing estimates by -0.09.
Movado Group (MOV): Reported EPS of $0.67 beating estimates by +$0.05. Pre-market: 34.51 +2.28 (7.07%)
Futures at 8:20: Dow . S&P . Nasdaq . Crude to $1715.00.
Europe: London . Paris . Frankfurt .
Asia: Japan to
9308. Hong Kong to
21709. China to 18842.