Smith & Wesson (SWHC) announced that it earned $21.2 million, or 31 cents per share, versus a loss of $1.6 million, or 2 cents per share, in the same period last year due to costs associated with a part of the business it was trying to sell. Revenue increased by 48 percent to $136.6 million from $92.3 million in the same period last year.
House Speaker John Boehner says there’s been no progress in negotiations on how to avoid the fiscal cliff of tax hikes and spending cuts and he called on President Barack Obama to come up with a new offer.
Lindsay Lohan is selling her extensive collection of designer clothes to a second hand store in Los Angeles in order to help gather cash to pay off her $230,000 dollar IRS debt and mounting legal fees.
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
