Month: November 2012

Dick’s Sporting (DKS) had its numbers increased by JP Morgan (JPM) due to accelerating sales growth. An overweight rating was issued with a $61 price target.

The Commmerce Department reported today that retail sales were lower by 0.3 percent, the first drop after three months of gains. Sales at auto dealers fell by 1.5 percent.

JC Penney (JCP) was downgraded by JP Morgan (JPM) to neutral from overweight with a price target of $20, as the company’s situation has a great likelihood of worsening rather than improving. Shares are higher by about seven tenths of a percent.

The Daily Ticker’s Henry Blodget and Aaron Task discuss the Los Angeles City Council’s decision to institute “Meatless Mondays”

Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.

In trading on Wednesday, manufacturing shares were relative leaders, up on the day by about 1.8%. Leading the group were shares of Kior (KIOR), up about 17.1% and shares of Sierra Wireless (SWIR) up about 7.3% on the day.

President Barack Obama says the economy cannot afford a tax increase on all Americans and is calling on congressional Republicans to support an extension of existing tax rates for households earning $250,000 or less.

Michael Kors Holdings (KORS) announced that fiscal second-quarter net income more than tripled. The retailer said that it earned $97.8 million, or 49 cents per share, up from $31.6 million, or 22 cents per share, in the same period last year.

Eaton Vance (EV) was upgraded by Bank of America/Merrill Lynch to neutral from underperform with a price target of $32 as the company’s tax managed products are attractive to customers. Shares are higher by about 1.1 percent.

National Interstate Corporation (NATL) maintained its quarterly dividend of 10 cents per share. The company also declared an additional one-time special dividend of $2.00 per share.