Month: January 2013

President Barack Obama says he “will not compromise” over his insistence that Congress lift the federal debt ceiling. The nation’s credit rating was downgraded the last time lawmakers threatened inaction on the debt ceiling, in 2011.

This holiday shortened first trading week of 2013 comes to a close with investors breathing a sigh of relief that a fall off the fiscal cliff did not occur. Hi.

Metal processor Worthington Industries (WOR) announced that it earned 45 cents per share for the second quarter of its fiscal 2013, beating year ago earnings of 17 cents per share. Revenue increased by ten percent year over year to $622.6 million but missed estimates of $638 million.

Lululemon (LULU) was downgraded by Credit Suisse (CS) to neutral from outperform with a price target of $80 due to slowing comp sale growth, which may have a negative impact on margins. Shares are lower by about 4.9 percent.

Texas Roadhouse (TXRH) was upgraded by Deutsche Bank (DB) to buy from hold with a price target of $20, as the firm expects the company to continue to execute its business model in the difficult environment. Shares are higher by about 3.5 percent.

Duke Energy Corporation (DUK) maintained its quarterly dividend of 76.5 cents per share. The dividend is payable on March 18, 2013, to shareholders of record at the close of business Feb.

In trading on Friday, shipping shares were relative leaders, up on the day by about 2.7%. Leading the group were shares of Dryships (DRYS), up about 10.4% and shares of Frontline Limited (FRO) up about 7.4% on the day.

Drive in restaurant chain Sonic (SONC) announced that it earned $6.1 million, or 11 cents per share, for the most recent fiscal quarter that ended on November 30th, versus $5.5 million, or 9 cents per share, in the same quarter last year. Revenue decreased to $126 million from $128.3 million, in part due to the fact that some drive-ins were re-franchised.

Calavo Growers (CVGW) announced that net income increased by 72 percent in the fiscal fourth quarter, helped by a better than expected avocado harvest. The company earned $6.2 million, or 42 cents per share, up from $3.6 million, or 25 cents per share, in the same period last year.

UnitedHealth (UNH) was downgraded by Deutsche Bank (DB) to hold from buy with a price target of $61 due to increasing price competition. Shares are lower by about four percent.