Month: July 2012

Commerce Bancshares (CBSH) today had its price target and estimates increased by UBS (UBS) due to better than expect loan growth. A neutral rating was issued with a $41 price target.

As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.

Thermo Fisher Scientific Incorporated (TMO) maintained its quarterly dividend of 13 cents per share. The dividend will be paid on October 15, 2012, to shareholders of record as of September 17, 2012.

In trading on Friday, general contractors & builders shares were relative leaders, up on the day by about 2.7%. Leading the group were shares of Hovnanian Enterprises (HOV), up about 8.5% and shares of M/I Homes (MHO) up about 4.1% on the day.

Wells Fargo (WFC) announced that it earned $4.6 billion, or 82 cents per share, up from $3.95 billion, or 70 cents per share in the same period last year. Revenue was $21.3 billion, versus $20.4 billion last year.

You’re watching the Financial New Network at fnno.com, I’m Julia Sun. The Federal Aviation Administration is fining Delta Air Lines up to $1 million on two separate safety violations. Delta made more than 800 flights on one of its Airbus A320’s in the second half of 2010 with a broken light in the cockpit. Regulation required the light to be repaired within 10 days from the initial damage and Delta did not do so. FAA is proposing a fine of $300,000. FAA release also states that in Feb, 2010, a Boeing 737 aircraft belonged to Delta made 20 flights after the plane failed the FAA inspection. FAA is proposing $687,500 in penalty for this indiscretion. Delta will have 30 days to respond and is allowed to present counter evidence. Share with us your reaction on this threat to your safety, you can send in your comments to our show or tweet us @fnnonline. I’m Julia Sun for the Financial News Network, we’ll be right back.

From Fnno.com, this is the Financial News Network, your source for the latest business news. Here’s a few things to watch for in the financial world today July 12. HSBC (NYSE:HSBC) shares falling in London and are down premarket today on reports the company could face a $1 billion fine following a U.S. investigation into money laundering practices. The Financial Times first reported the news, not having details on the level of the fine. If true, the penalty would be substantially higher than those on ING Bank and Wachovia over similar practices. So far HSBC hasn’t made a formal statement but the Senate panel conducting the investigation said it will release more information on July 17.SuperValu (NYSE:SVU) not fairing well this morning. Shares of the supermarket chain dropped over 36% in the premarket session after several Wall Street firms cut their price targets on the stock after its disappointing first quarter results. The company reported sales of $10.6 billion, down from the previous year of $11.1 billion and posted an EPS of $0.19, down from $0.35 year over year. SuperValu also announced it would be suspending its dividend to fund aggressive price cuts aimed at growing their customer base. Analysts who cut their forecast are worried the company will not be able to compete with other companies such as Kroger and Wal-Mart. There has even been talk of selling the company. Keep an eye on this stock as trading continues today.Finally, Fastenal (NYSE:FAST) reported its second quarter earnings this morning, posting an EPS of $0.38 just above analyst estimates of $0.37 per share. Revenue for the quarter rose 15% to $804.9 million, below estimates of $808 million. This constitutes a 19% increase in earnings over the quarter even as the company opened 53 new stores during the first six months of 2012. The company, which makes tools and other industrial and construction supplies, is sticking to their double-digit earnings growth trend over the past couple quarters. The company says it is due to increasing demand from customers in the manufacturing industry.Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world check us out at fnno.com or follow us on twitter @FNNOnline. I’m Chuck Pierce.

Marvin Traub, one of retail’s most famous merchants, died at his home inNew York City on Wednesday, at the age of 87. During his 41 years in fashion, Traubtook Bloomingdale’s from an ordinary department store to an upscale shoppingdestination, and was best known for his merchandising and marketing expertise.Traub became president in 1969 and retired from his position as Bloomingdales CEO in 1991. He made his mark by bringing glamour and sex appeal toBloomingdales and launched the careers of Ralph Lauren, Donna Karen and Tommy Hilfiger. Traub had been battling bladder cancer and was hospitalized earlier this month.On this news, Macy’s opened today at $32.90, In the past year, the stock has hit a 52-week low of $22.66 and 52-week high of $42.17. It’s currently trading down -0.53 at 32.62.

Some encouraging economic data from the Labor Department didn’t do much to boost the markets today, although stocks did come off of their worst lows of the day in the afternoon. The number of Americans filing unemployment benefits fell 26,000 last week to 350,000, marking a four-year low.

As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys.