Month: April 2012

In trading on Wednesday, computers shares were relative leaders, up on the day by about 3.8%. Leading the group were shares of Cray (CRAY), up about 27.7% and shares of Diebold (DBD) up about 9.9% on the day.

Caterpiller (CAT) announced that it earned $1.6 billion, or $2.37 per share, versus $1.2 billion, or $1.84 per share, in the same period last year. Revenue increased by 23 percent to $16 billion during the first quarter.

Ford (NYSE:F) announced it plans on boosting product line in China with more value models for smaller Chinese cities.In addition, the future in China for the automaker includes the planned production of electric vehicles and SUVs.Shares of Ford are trading 2% lower premarket.

American automaker General Motors is planning on expanding even more in China.CEO Dan Akerson announced Monday the company with open 600 dealerships in China this year to nearly double its production capacity in the country.Even though sales growth has slowed from 35 percent in 2010 to just 2 percent in the latest quarter, GM will expand its dealership network from 2,900 last year to 3,500 by the end of this year.Akerson added that the company also plans on boosting its production capacity in China to 5 million cars a year by 2016. General Motors (NYSE:GM) has potential upside of 49.2% based on a current price of $23.60 and an average consensus analyst price target of $35.20.

Roper Industries (NYSE:ROP) reported Q1 EPS of $1.09, topping estimates by $0.05.Revenues in the quarter rose 10.2% year-over-year to $711 million, beating estimates by $7 million.The company said it sees annual EPS of $4.75 – $4.91, vs. its prior guidance of $4.67 – $4.87, and estimates of $4.78.

Youku.com (NASDAQ:YOKU) shares are trading 4% lower despite news that it has landed exclusive Chinese online distribution rights from CBS (NYSE:CBS) for 2 seasons of Survivor and America’s Next Top Model, in an effort to increase its professional content portfolio.The shows will be offered as an ad-supported basis.However, there has been speculation that Youku and its competitors would choose for pay-per-view model in order to deal with rising content costs.

One of the most popular coffee chains in the United States is finally breaking through to a new market – Disney Theme Parks That’s right Starbucks (NYSE:SBUX) is announcing a partnership on Monday to open a store inside each of the six Disney properties in California and Florida. The first will open this summer at Disneyland California Adventure in Anaheim, however it might not look like a typical Starbucks. Disney and Starbucks said each store will be integrated into the park, designed to blend in with the property. The store in Disneyland California will be called Fiddler, Fifer and Practical Cafe. The other stores will open later. The companies are still finalizing when that will be.Both Starbucks and Walt Disney Parks and Resorts, a unit of the Walt Disney Co. (NYSE:DIS) did not disclose the financial terms of the deal.

Strong earnings results gave the markets a lift this morning, but stocks traded mixed later in the day. On the economic front, the Commerce Department is reporting a 7.1 percent drop in new home sales in March to a seasonally adjusted rate of 328,000 units, which was better than expectations.

International Business Machines (IBM) announced its quarterly dividend of 85 cents per share, an increase of about 13% over its prior dividend in February of 75 cents. The company also authorized $7 billion in additional funds for use in the company’s stock repurchase program, in addition to approximately $5.7 billion remaining at the end of March from a prior authorization.

European markets roiled by rising political uncertainties and weak economic data. Equities across Europe fell sharply today with the Stoxx 600 down 2.3%. Benchmark German DAX and French CAC 40 lost 2.8% and 3.4% respectively. Sovereign bond yields also inched up. The yield on 10-year French government bond rose by 4 basis points to 3.11%, while comparable Dutch bond yield expanded by 7 basis points to 2.39%. Lower-rated 10-year Spanish bond yield again touched 6%.The Purchasing Mangers’ Indices (PMIs) for the Euro area fell for the 3rd consecutive month in April and the pace of decline has accelerated. The composite index fell from 49.1 in March to 47.4 in April. Manufacturing was hit particularly badly with the Euro area manufacturing index failing from 47.7 in March to just 46, which is the lowest in almost three years.In France, election is underway and market believes the opposition leader Hollande, if elected, may reopen the debate over the EU crisis resolution. The French PMI also indicates a sharp fall back in the service sector in April.