Lehigh Gas Partners LP, a Delaware limited partnership, announced today it has priced its IPO of 6,000,000 common units representing limited partner interests in Lehigh Gas Partners at $20.00 per common unit. The common units will trade on the New York Stock Exchange under the symbol “LGP” beginning on October 25, 2012.
In trading on Thursday, packaging & containers shares were relative leaders, up on the day by about 2.7%. Leading the group were shares of Graphic Packaging Holding (GPK), up about 6.2% and shares of Libbey SC (LBY) up about 6.2% on the day.
Better than expected housing data and positive earnings reports gave investors reason to be optimistic as the markets made a bit of a recovery today. The Commerce Department is reporting a 5.7 percent rise in new home sales in September to a seasonally adjusted annual rate of 389,000.
Dr. Pepper Snapple Group (DPS) announced that net income increased by 16 percent in the third quarter due to price increases.
Lorillard (LO) announced that third-quarter net income increased by 6 percent due to higher pricing that offset a decline in cigarette sales. Net income was $283 million, or $2.16 per share, up from $267 million, or $1.94 per share, in the same period last year.
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.
Inland Real Estate Income Trust announced that it will begin selling $1.5 billion in common stock in connection with its IPO, pursuant to a registration statement declared effective by the US Securities and Exchange Commission on October 18, 2012. Inland Income Trust is offering up to 150,000,000 shares of its common stock for sale at $10.00 per share and up to an additional 30,000,000 shares of its common stock for issuance under its distribution reinvestment plan at $9.50 per share.
Boeing (BA) announced stronger than expected earnings, and raised its full year forecast. The company earned $1 billion, or $1.35 per share, versus $1.1 billion, or $1.46 per share, in the same period last year, due to improved defense spending and more aircraft deliveries.
Finance Minister Jim Flaherty joins consumer protection groups to announce new rules for prepaid credit cards.
A handful of disappointing quarterly earnings reports sent the markets into negative territory today, as did concerns over Spain’s economy. Chemical company DuPont (DD) missed profit expectations and slashed its earnings forecast.
