Author: FX_Trdr

Cardinal Health (CAH) announced that second fiscal quarter 2013 earnings were 93 cents per share, beating estimates of 85 cents per share. The company earned 81 cents per share in the same period last year.

The Institute for Supply Managment announced that its survey of purchasing managers fell to 55.2% in December versus 55.7% in December. Analysts had expected a drop to 55%.

New York Community Bancorp (NYCB) was upgraded by Morgan Stanley (MS) to overweight with a $15 price target as net interest margin has been holding up well and the company has undergone a restructuring of its debt. Shares are higher by about 1.7 percent.

Toll Brothers (TOL) was downgraded by Barclays (BCS) from equal weight to underweight with a price target of $36 as the firm expects the market to shift towards an increased number of entry level homebuyers. Shares are lower by about a tenths of a percent.

Emerson Electric Company (EMR) maintained its quarterly dividend of 41 cents per share. The dividend is payable March 11, 2013, to stockholders of record February 15, 2013.

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.

Hoping to avoid crushing across-the-board spending cuts in under a month, President Barack Obama is proposing a short-term fix that involves targeted cuts and some higher taxes.

President Barack Obama is asking Congress to come up with tens of billions of dollars in short-term spending cuts and tax revenue to delay automatic spending cuts scheduled to kick in March 1.

Archer Daniels Midland (NYSE:ADM) announcing its earnings this morning, posting an EPS of 60 cents, higher than 58 cents analysts were expecting. Revenue for the quarter also rose by seven percent to $24.92 billion, beating estimates of $23.67 billion.

House Republicans are seizing on the president’s failure to submit a budget on time for the fourth time in 5 years. The GOP is moving ahead with a bill to require the president to submit a budget that balances within ten years.