Author: FX_Trdr

Owens-Illinois (OI) was upgraded by Goldman Sachs (GS) to buy with a price target of $28, as the new CFO has been improving the capital allocation strategy of the company. Shares are higher by about 4.6 percent.

Teekay Corporation (TK) maintained its quarterly dividend of 31.625 cents per share. The dividend payable on October 26, 2012 to all shareholders of record as at October 17, 2012.

KaloBios Pharmaceuticals announced that it filed a Registration Statement with the SEC for a proposed IPO of its common stock. The number of shares to be offered and the price range for the offering have not yet been determined.

Automatic Data (ADP) was upgraded by Goldman Sachs to buy from neutral with a price target of $68 as the company has proven its ability to generate cyclical earnings. Shares are higher by about 1.75 percent.

Constellation Brands (STZ) announced that it earned $124.6 million, or 67 cents per share in its last fiscal quarter, versus a profit of $162.7 million, or 76 cents per share in the same period last year. Excluding items, the company earned 71 cents per share, beating estimates of 54 cents.

The Daily Ticker talks to Howard Davidowitz

Online game company Zynga (ZNGA) announced that it expects a loss for the third quarter due to weak demand, as well as costs related to mobile game maker OMGPop. The company expects a loss of 12 to 14 cents per share on revenue of $300 million to $305 million.

Republican Presidential Candidate Mitt Romney says the country’s economic outlook remains weak despite the new jobless figures. He says too many Americans are unemployed or underemployed.

President Barack Obama says an encouraging jobs report shows that the country has made too much progress to turn back to the policies that he says led the nation into an economic crisis.

The daily moving average is an indicator which calculates an assets average closing price over a certain number of days. Tradres often calculate 50 and 200 day moving averages.