Author: FX_Trdr

Costar (CSGP) was downgraded by Morgan Stanley (MS) to underweight from equal weight as the stock price has exceeded the $73 price target. Shares are lower by almost three percent.

Broadcom Corporation (BRCM) maintained its quarterly dividend of 10 cents per share. The dividend will be paid on September 17, 2012 to holders of record of the Company’s Class A and Class B common stock at the close of business on August 31, 2012.

From Fnno.com, this is the Financial News Network. Here’s a few things to watch for in the financial world today August 14.Groupon (NYSE:GRPN) showing signs the online deal market is dwindling. The company posted a 45% rise in second quarter revenue to $568.3 million, a positive number for the online deal site but a negative one for Wall Street. Analysts were expecting revenue to be $575.3 million. Groupon said they missed estimates because of weakness in Europe which resulted in poor sales internationally. The company added it hopes to boost its business in that region for the coming quarter.Micahel Kors (NYSE:KORS) is making it work, especially for his company’s first quarter. The Project Runway judge’s company announced a profit of $68.6 million or 34 cents, almost three times as much from last year. Revenue also jumped 71% to $414.9 million. Both earnings and revenue comfortably beating expectations. Since the company went public this past December, its stock has gained 55% and will most likely continue its climb on a boost in its full-year estimate as well.Finally, Home Depot (NYSE:HD) is another winner when it comes to earnings this morning. The company posted an EPS of $1.01, beating analyst expectations of 97 cents a share. Revenue was also up 1.7% to $20.6 billion, just missing estimates of $20.7 billion. The largest U.S. home-improvement retailer said the positive earnings was due to increased sales as more customers are starting remodeling projects. The company also raised its full-year profit forecast by five cents a share. Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.

Michael Kors (NYSE:KORS) is making it work, especially for his company’s first quarter. The Project Runway judge’s company announced a profit of $68.6 million or 34 cents, almost three times as much from last year. Revenue also jumped 71% to $414.9 million. Both earnings and revenue comfortably beating expectations. The retailer also raised its full-year profit estimate, predicting EPS between $1.32 to $1.34 on revenue of $1.8 billion to $1.9 billion. The company expects same-store sales to increase in the mid- to high-20% range.Since the company went public this past December, its stock has gained 55%.

Home Depot (NYSE:HD) is another winner when it comes to earnings this morning. The company posted an EPS of $1.01, beating analyst expectations of 97 cents a share. Revenue was also up 1.7% to $20.6 billion, just missing estimates of $20.7 billion. The largest U.S. home-improvement retailer said the positive earnings was due to increased sales as more Americans are deciding to start remodeling projects. The company also raised its full-year profit forecast to $2.95 a share, up from the previous forecast of $2.90 and above the $2.92 average estimate.Home Depot is also benefiting from the rise in housing starts over the last quarter. The number of single-family housing starts has accelerated over the past four months.

Lenovo Group (LNVGY), the world’s second-largest PC maker behind Hewlett-Packard (HPQ) announced that profit rose to $141.4 million for the quarter ending on June 30, up from $108.8 million in the same period last year. Analysts estimated earnings of $133.5 million.

From Fnno.com, This is the financial news network. Here’s what’s in the news for Wednesday August 15, 2012. The Wall Street Journal reports more than a dozen big merchants, including Wal-Mart (NYSE:WMT) and Target (NYSE:TGT), are expected to announce today plans to jointly develop a mobile-payments network called Merchants Customer Exchange that would battle similar services from Google (NASDAQ:GOOG) and other companies, sources say. The Wall Street Journal also reports investors and companies are increasingly pulling money out of China and its currency in a vote of concern over its growth prospects, a development that could hinder Beijing’s efforts for a turnaround. Reuters reports Fannie Mae (FNMA) and Freddie Mac (FMCC) are increasing efforts to find bad home loans that they can force mortgage lenders to buy back from them, providing an increasingly bigger headache to banks.Finally, Bloomberg reports Goldman Sachs (NYSE:GS) and Vanguard Group increased holdings in Knight Capital Group (NYSE:KCG) during Q2 before the firm lost $440M on a computer malfunction this month. For more financial news and analysis follow us on Twitter @FNNOnline or check out our website at fnno.com.

From Fnno.com, this is the Financial News Network. Here’s a few things to watch for in the financial world today August 15.Target (NYSE:TGT) will be one to watch today after it posted its second quarter earnings. The big box retailer said its adjusted EPS was $1.12, beating the street’s estimate of $1.01. Revenue for the quarter was up to $16.78 billion, also higher than the average analyst estimate of $16.75 billion. CEO of Target Gregg Steinhafel said the strong earnings were due to their focus on bringing an excellent customer experience to its stores as well as execution of its overall strategy. A company in trouble this morning though is Deere & Co. (NYSE:DE). The largest maker of farm equipment posted its third quarter earnings this morning, saying the company had a profit of $788 million or $1.98 a share. This was well below estimates of $2.32. Revenue had modest gains rising 16% year over year to $8.93 billion. But, predictions put that growth at 25% for the quarter. According to Deere CEO Sam Allen, lower demand for farm equipment is the cause of the lower than expected earnings, with the worst U.S. drought in five decades being the main reason for the decrease in demand.Finally, Caryle Group (NYSE:CG) making a big acquisition today to expand its ever growing portfolio. The private equity firm announced an agreement to buy photo archive Getty Images for $3.3 billion from Hellman & Friedman. The agreement will give Caryle a controlling stake in the company with co-founder Chairman Mark Getty selling most of their ownership interests. According to preliminary talks, Caryle got a bit of a deal on the agreement. Hellman & Friedman initially wanted $4 billion for Getty to try and make a bigger profit on the $2.4 billion it bought it for four years ago. Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.

Young illegal immigrants may apply for working papers as early as today through the Obama administration’s new immigration program. The Consideration of Deferred Action for Childhood Arrivals was created by an executive order signed by President Obama in June. It allows immigrants who are in the United States illegally to work without fear of deportation for 2 years.The new program does come with a few stipulations. Applicants must have come to the United States at the age of 16 or younger, and must be no older than 30 upon applying. In addition, individuals taking part in the program must not have a criminal record, and must have completed high school or served in the military.This process does not provide U.S. citizenship, and the forms must be completed by February 28, 2013. There is also a fee of $465 to submit the necessary forms.

Caryle Group (NYSE:CG) making a big acquisition today to expand its ever growing portfolio. The private equity firm announced an agreement to buy photo archive Getty Images for $3.3 billion from Hellman & Friedman. The agreement with give Caryle a controlling stake in the company with co-founder Chairman Mark Getty selling most of their ownership interests. According to preliminary talks, Caryle got a bit of a deal on the agreement. Hellman & Friedman initially wanted $4 billion for Getty to try and make a bigger profit on the $2.4 billion it bought it for four years ago. Getty, a stock-photo business started in 1995, claims it was the first company to license images online. The Seattle-based company also provides other digital media including music and video.