Month: December 2012

Men’s Warehouse (MW) announced that it earned $48.8 million, or 98 cents per share, versus $39.9 million, or 77 cents per share in the same period last year. Revenue increased by 8% to $630.97 million.

Lowe’s (LOW) had its numbers increased by Jefferies (JEF) following a positive analyst meeting. A hold rating was issued with a $32 price target.

American Residential Properties announced today that it intends to file a registration statement relating to the proposed initial public offering of its common stock. The company intends to use the proceeds of the proposed offering to fund the acquisition of single-family residential properties and other assets related to the single-family housing industry, and for other general corporate purposes.

In trading on Thursday, asset management shares were relative leaders, up on the day by about 1.5%. Leading the group were shares of Epoch Holding (EPHC), up about 26.8% and shares of Federated Investors (FII) up about 0.8% on the day.

AP health care reporter details possible consequences of a GOP proposal to avert the fiscal cliff, in part, by raising the Medicare eligibility age. As taxpayers Americans would benefit, but not as consumers.

The UK’s finance minister announced welfare cuts and said tax rises and spending cuts will drag on for another year into 2017/18 as Britain is held back by the euro zone debt crisis and a global slowdown.

Britain will have to endure austerity until 2018, after the government said it had missed a key debt target. Finance Minister George Osborne said UK growth will be weaker than expected and introduced real-terms cuts to welfare. But there was some good news for business as he announced a 1% cut to corporation tax. Joanna Partridge reports

The Obama administration and House of Representatives Speaker John Boehner continue to ridicule the negotiating stances of the other side with Boehner saying the White House’s plan couldn’t pass either chamber of Congress.

Stocks traded mostly flat today over lingering worries over the fiscal cliff. Big Lots (BIG) raised its full-year adjusted earnings loss after posting a smaller-than-expected quarterly loss, sending shares higher today.

Royal Bank of Canada (RY) was initiated with a buy rating by Citigroup (C) as the firm believes that the bank is better positioned than the market believes. A $67 price target was issued.