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Archive for the ‘Benzinga’ Category

UPDATE: Northern Trust Announces $425M Buyback Plan, Seeking Raising Qtr. Dividend from $0.31 to $0.33/Share

Courtesy of Benzinga.

Related NTRS
Company News for April 16, 2014 – Corporate Summary
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Northern Trust Corporation (Nasdaq: NTRS) today announced that it received no objections from the Federal Reserve to the proposed capital actions contained in its 2014 Capital Plan.

Northern Trust’s Capital Plan, which was approved by its Board of Directors prior to submission to the Federal Reserve, requested authority to increase its quarterly common stock dividend to $0.33 per share from $0.31 per share, effective in the second quarter of 2014. At its regular April meeting, Northern Trust’s Board of Directors will consider formal approval of the planned dividend increase, which is expected to be payable July 1, 2014.

In addition, Northern Trust’s Capital Plan provides for the repurchase of up to $425 million of its common stock through the open market or in privately negotiated transactions between April 2014 and March 2015. The timing of the common stock repurchases and the exact number of shares repurchased will depend on various factors, including Northern Trust’s capital position, internal capital generation, market conditions, and other investment opportunities.

“Northern Trust continues to have a focused business model, strong capital position and conservative risk profile, and we are pleased that the Board will consider a dividend increase at its April 15, 2014 meeting,” Northern Trust Chairman and Chief Executive Officer Frederick H. Waddell said. “We believe our Capital Plan, and the level of capital distributions that it included, demonstrates the strength of Northern Trust’s financial position.”

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, banking solutions and fiduciary services for corporations, institutions and affluent individuals worldwide. Northern Trust, a financial holding company based in Chicago, has offices in 18 U.S. states and 18 international locations in North America, Europe, the Middle East and the Asia-Pacific region. As of December 31, 2013, Northern Trust had assets under custody of US$5.6 trillion, and assets under investment management of US$884.5 billion.…
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Facebook’s Terms-Of-Service Response to Jerk.com

Courtesy of Benzinga.

The horror show that is Jerk.com played computer screens from 2009-2013, according to the Federal Trade Commission’s complaint. Why so long? 

 

Apparently Facebook discovered Jerk.com engaging in improper conduct sometime before March 2012, because that’s when it sent a cease-and-desist letter to Jerk.com and “disabled some of its applications which violate its terms.” 

 

Facebook told Benzinga: “”We take breaches of our terms seriously. We applaud the FTC and will continue to work with them as they pursue Jerk.com and others that seek to abuse people who use our service”. Facebook also referred to its prior collaboration with the Washington Attorney General in going after <a href=”https://www.facebook.com/notes/facebook-security/facebook-washington-state-ag-target-clickjackers/10150494427000766“>”clickjackers” Adscend</a> as evidence of their seriousness. Indeed, Facebook sued Adscend.</p>

<p>Adscend committed “clickjacking“, which messes up Facebook’s users’ Facebook experience. Clickjackers put an invisible “like” button on top of real like buttons. When the user clicks to like what they see, the user likes something unseen, triggering spam.</p>

Posted-In: News Legal





LG Reportedly to Supply Flexible Displays for Apple’s iWatch

Courtesy of Benzinga.

A report out of Korea, via Cult of Mac says Apple (NASDAQ: AAPL) has selected LG as its only supplier for flexible displays for the iWatch. The device reportedly will be launched in September and will be available in two sizes.

View full article http://www.cultofmac.com/274515/lg-sole-supplier-flexible-displays-iwatch-rumor/

Posted-In: News Rumors Global Tech





UPDATE: Zogenix-Says Court Granted Temporary Restraining Order Preventing Implementation of Massachusetts Ban of Zohydro ER Extended-Release Capsules =8-K

Courtesy of Benzinga.

On April 15, 2014, Zogenix (NASDAQ: ZGNX) announced that, in connection with the previously disclosed lawsuit that the Company filed in the U.S. District Court in Massachusetts requesting a temporary restraining order preventing the implementation of the Commonwealth’s ban of Zohydro™ ER (hydrocodone bitartrate) extended-release capsules, the Court entered such order on Constitutional grounds. This order will become effective on April 22, 2014.

Posted-In: News Guidance Legal





Delhaize Group Announces Sale of Bosnian & Herzegovinian Stores

Courtesy of Benzinga.

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Delhaize Group (Euronext Brussels: DELB, NYSE: DEG), the Belgian international food retailer, announces that it has signed an agreement with Tropic Group B.V. on the sale of its Bosnian & Herzegovinian stores.

Delhaize Group has signed an agreement with Tropic Group B.V., to divest all of its 39 Bosnian & Herzegovinian stores. Tropic Group B.V. is an entrepreneurial organization founded by Mr. Bojan Risovic. He is an established retailer with a long history of successfully running retail enterprises.

The transaction is expected to complete in the third quarter subject to regulatory approval and working capital adjustments.

» Delhaize Group

Delhaize Group is a Belgian international food retailer present in nine countries on three continents. At the end of 2013, Delhaize Group’s sales network consisted of 3 534 stores. In 2013, Delhaize Group posted €21.1 billion in revenues and €179 million in net profit (Group share). At the end of 2013, Delhaize Group employed approximately 160 000 people. Delhaize Group’s stock is listed on NYSE Euronext Brussels (DELB) and the New York Stock Exchange (DEG).

This press release is available in English, French and Dutch. You can also find it on the website www.delhaizegroup.com. Questions can be sent to investor@delhaizegroup.com.

» Contacts

Investor Relations: + 32 2 412 2151 Media Relations: + 32 2 412 8669

cautionary note regarding forward looking statements

Statements that are included or incorporated by reference in this press release and other written and oral statements made from time to time by Delhaize Group and its representatives, other than statements of historical fact, which address activities, events and developments that Delhaize Group expects or anticipates will or may occur in the future, including, without limitation, when the sale of Delhaize BH (Delhaize Group’s operations in Bosnia & Herzegovina) to Tropic Group B.V. is expected to be completed; the financial flexibility that will result from the sale; the ultimate value of the transaction to Delhaize Group after working capital adjustments, expected costs savings, the…
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UPDATE: LyondellBasell Announces 17% Increase of Interim Dividend to $0.70/Share, Announces Additional 10% Share Repurchase

Courtesy of Benzinga.

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LyondellBasell (NYSE: LYB) today announced that its Supervisory Board has authorized the company’s Management Board to declare an interim dividend of $0.70 per share, representing an increase of 17% to the company’s first quarter 2014 interim dividend. The interim dividend will be paid May 12, 2014 to shareholders of record April 28, 2014, with an ex-dividend date of April 24, 2014.

The company also announced that at its Annual General Meeting on April 16, 2014, shareholders approved a proposal to authorize the company to repurchase up to an additional 10% of the company’s outstanding shares over the next 18 months. The repurchases will be executed from time to time through open market or privately negotiated transactions.

“The company has already repurchased approximately 46 million shares to date and expects to have repurchased the entire 10% of the original authority given by shareholders in 2013 by the end of May 2014. This new share repurchase program and the increase in the regular interim dividend is reflective of our outlook, capital growth program, strong free cash flow profile and our commitment to returning cash directly to our shareholders via share repurchases and dividends,” said Chief Executive Officer Jim Gallogly.

The amount and timing of future share repurchases and dividends will depend on, and be subject to, market conditions, general economic conditions, applicable legal requirements and other corporate considerations. The share repurchase program and dividend policy may be suspended or discontinued at any time. This share repurchase program does not obligate LyondellBasell to acquire any particular amount of shares. LyondellBasell had approximately 530 million shares outstanding as of April 15, 2014.

This press release contains forward-looking statements. Forward-looking statements relate to future events, such as anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations or operating results. Actual outcomes and results may differ materially from what is expressed or forecast in such forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict.…
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Major Twitter Holders Indicate No Intent to Sell Shares Upon Lock-up Expiration

Courtesy of Benzinga.

In an 8-K filing with the SEC on Monday, Twitter (NYSE: TWTR) reported that the co-founders and CEO have no plans to sell their shares when the post-IPO lockup expires on May 5.

The filing states, “Jack Dorsey and Evan Williams, co-founders of Twitter, and our Chief Executive Officer, Richard Costolo, have informed us that they have no current plans to sell any of their shares of Twitter common stock.”

In addition, Benchmark venture capital funds, which owns approximately five percent of Twitter’s common stock, informed Twitter’s Board that “they have no present intention to sell or distribute stock to their limited partners before or immediately after the expiration of our lockup on May 5, 2014.”

According to a filing last week, Williams and Dorsey own 9.4 percent and four percent of the company, respectively. Costolo owns 1.4 percent of the company’s shares.

Shares of Twitter closed at $40.05 on Friday. At 11:05 a.m. EST, shares were up over 2.297 percent at $40.97.

Posted-In: 8-K Filing United States Securities and Exchange CommisionNews Legal Management





UPDATE: JP Morgan Announces $6.5B Buyback Plan, Qtr. Dividend Raise from $0.38 to $0.40/Share

Courtesy of Benzinga.

Related JPM
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JPMorgan Chase & Co. (NYSE: JPM) announced today that, following the Federal Reserve Board’s release of the 2014 Comprehensive Capital Analysis and Review (CCAR) results, its Board of Directors intends to increase the quarterly common stock dividend to $0.40 per share, effective the second quarter of 2014. The Board has also authorized a common equity repurchase program to repurchase $6.5 billion of common equity between April 1, 2014, and March 31, 2015. This authorization includes shares repurchased to offset issuances under the Firm’s equity-based compensation plans.

The Federal Reserve Board informed the Firm that it does not object to the Firm’s proposed 2014 capital distribution plan.

Jamie Dimon, Chairman and CEO of JPMorgan Chase said: “We are pleased that our Board intends to raise the dividend and has authorized us to continue our equity buyback program. We anticipate reaching a Basel III Tier I common ratio of 10% by the end of this year, taking into account these capital actions and our ongoing investments in our growing businesses.”

The Firm’s dividends will be subject to the Board’s approval at the customary times those dividends are declared. The 2014 second quarter dividend, which the Board intends to increase to $0.40 per share, would be for shareholders of record on July 3, 2014, payable on July 31, 2014. Upon the declaration of a dividend in the second quarter of 2014 in an amount in excess of $0.38 per share, the Exercise Price and the Warrant Share Number for the warrants (as defined in the warrants) to purchase shares of common stock of the Firm may be adjusted. Further information regarding the warrants and adjustments to the warrant Exercise Price and the Warrant Share Number is available on the Firm’s website at jpmorganchase.com, under the heading Investor Relations, Shareholder Information: “Warrant Information.”

Repurchases of equity will be pursuant to the common equity repurchase program of $15.0 billion…
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UPDATE: Sinclair Engages Moelis & Co. to Sell Some Stations Related to Allbritton

Courtesy of Benzinga.

Related SBGI
Sinclair Announces Proposed Restructuring of Allbritton Deal In Order to Meet Objections of FTC
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Sinclair Broadcast Group, Inc. (Nasdaq: SBGI) announced today that it has engaged Moelis & Company as Sinclair’s exclusive financial advisor in connection with the Company’s potential sale of WHP (CBS) in Harrisburg, PA, together with the right to provide services to WLYH (CW) in Harrisburg, PA, WMMP (MyNetwork) in Charleston, SC, and WABM (MyNetwork) in Birmingham, AL so as not to result in undue further delays to processing the applications for the previously announced acquisition of the Allbritton Communications television stations. The potential sale of the stations had been previously proposed to the Federal Communications Commission in order to meet certain objections to shared services agreements.

Sinclair Broadcast Group, Inc. is headquartered in Hunt Valley, Maryland, north of Baltimore, Maryland, and has other executive offices in Tampa, Florida, Chicago, Illinois and Seattle, Washington. Sinclair is one of the largest and most diversified television broadcasting companies, having affiliations with all of the major networks. For more information, please visit Sinclair’s website at www.sbgi.net.

Posted-In: News Asset Sales Press Releases





Facebook Wants To Tap Into Financial Services

Courtesy of Benzinga.

Related FB
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The world’s largest social networking website is jumping into the financial services sector.

Facebook (NASDAQ: FB) is only weeks away from getting the regulatory approval it needs in Ireland for a service that would allow users to store money on the social network site, as well as use it to pay and exchange money with others, the Financial Times reports.

The Palo Alto-based company has reportedly been talking to money transfer startups in London, including TransferWise, Moni Technologies and Azimo. According to someone familiar with the situation, Facebook offered to pay Amizo $10 million to recruit one of its co-founders for business development. A Facebook spokesperson told the FT that the company did not comment on “rumor and speculation.”

Related: 5 Awesome Perks of Working for Facebook

Facebook has 1.3 billion users around the world, and many people use the site to stay connected with friends and family living in different countries. The company could use that massive connectivity to achieve its goal of tapping into the migrant remittance market.

“Facebook wants to become a utility in the developing world, and remittances are a gateway drug to financial inclusion,” a person familiar with the company’s strategy told the FT.

This isn’t Facebook’s first attempt to join the payment business.

In 2011, the company launched a pilot program called Facebook Deals that offered online coupons and discounts from local businesses. But after four months, it quietly shut down the program.

Facebook also tried a virtual currency that allowed users to purchase items for games and other apps on the platform. This attempt only lasted a year, as Facebook didn’t encourage sharing about the credits or make a case for people to care about them.

Global mobile…
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Phil's Favorites

Talk of Bloodless Coup in Donetsk; European Countries Resent US Tone; Low Hopes for Peace Talks; War, What Is It Good For?

Courtesy of Mish.

Another bloodless coup in Ukraine is underway. This time, it's in the Donetsk region.

Should it come to that ending, it would be the third Ukrainian coup in a matter of months (counting the ouster of former president Viktor Yanukovych followed by the coup in Crimea).

Talk of Bloodless, Passive Coup in Donetsk

Please consider Kiev’s Weak Grip on East Falters.
Moscow is only an hour ahead of Donetsk but the inflammatory descriptions emanating from Russia over events in eastern Ukraine on Wednesday were much further distanced from reality.

As President Vladimir Putin was talking of his neighbouring country as being “on the brink of a civil war”, in Slavya...



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Zero Hedge

ROFL NATO!

Courtesy of ZeroHedge. View original post here.

Submitted by williambanzai7.

...

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Chart School

S&P 500 Snapshot: Rally Day Three, Back in the Green for 2014

Courtesy of Doug Short.

When the US market opened, Japan's Nikkei had closed with a massive 3.01% gain and the EURO STOXX 50 was in rally mode, ultimately to log a 1.54% advance. The Federal Reserve had published better-than-forecast March Industrial Production data with a substantial upward revision to the February numbers. The S&P 500 popped at the open and rose in a couple of waves through the day to its 1.05% intraday high at the closing bell. This was the third day of gains and enough to put the index back in the green year-to-date but still 1.51% off its record closing high set ten sessions ago on April 2nd.

The yield on the 10-year note finished at 2.65%, up 1 bp from Friday's close and 5 bps off the 2014 low of 2.60%.

Here is a snapshot of the past five sessions.

Volume for today's advance was above slightly below its 50-day moving average. The c...



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Option Review

Short Term Bearish Options Trade On Las Vegas Sands

A roughly quarter of a million dollar play in the 17Apr’14 expiry $74 strike put options on Las Vegas Sands Corp (Ticker: LVS) caught our eye this morning, as just one full trading session remains in the life of these contracts in this holiday-shortened week. Shares in LVS are up more than 2.0% on the session at $74.90 just before 11:30 am ET and off an earlier session high of $75.44. Like many of the relative outperformers of 2014, shares in LVS have declined substantially since the beginning of March, down around 15% at its current level from a high of $88.28. Recent sessions have been volatile in this and other high-beta names, and perhaps this environment is just what the morning’s put trader is looking for ahead of expiration.

...

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All About Trends

Mid-Day Update

Reminder: David is available to chat with Members, comments are found below each post.

Click here for the full report.




To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Sabrient

What the Market Wants: Positive News and Stocks at Bargain Prices

Courtesy of David Brown, Sabrient Systems and Gradient Analytics

Last week’s market performance was nasty again, especially for the Small-cap Growth style/cap, down 4%.  Large-caps faired the best, losing only 2.7%.  That’s ugly and today’s market seemed likely to be uglier today with escalating tensions over the weekend in Ukraine. 

But once again, positive economic trumped the beating of the war drums. Retail Sales jumped up 1.1% over a projected 0.8% and last month’s tepid 0.3%, which was revised up to 0.7%.  While autos led, sales were up solidly overall.  Business inventories were about as expected with a positive tone.  Citigroup (C) handily beat estimates to add to the morning’s surprises.  As a result, the market was positive through most of the day, led by the DJI, up 0.91%, and the S&P 500, up 0.82%.  NASDAQ had a less...



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Digital Currencies

Facebook Takes Life Seriously and Moves To Create Its Own Virtual Currency, Increases UltraCoin Valuation Significantly

Courtesy of ZeroHedge. View original post here.

Submitted by Reggie Middleton.

The Financial Times reports:

[Facebook] The social network is only weeks away from obtaining regulatory approval in Ireland for a service that would allow its users to store money on Facebook and use it to pay and exchange money with others, according to several people involved in the process. 

The authorisation from Ireland’s central bank to become an “e-money” institution would allow ...



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OpTrader

Swing trading portfolio - week of April 14th 2014

Reminder: OpTrader is available to chat with Members, comments are found below each post.

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here...



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Market Shadows

Winning: Defined as Losing Less

By Paul Price of Market Shadows

Market Shadows Excelled – With a 1.36% Weekly Decline

In the land of the blind, the one-eyed man is King. Our Virtual Value Porfolio took on that role this week as we lost a modest 1.36% of our value while the DJIA, S&P 500 and Nasdaq Composite dropped from 2.35% - 3.10%.

We remain bullish despite the shaky end of week sentiment. Our original $100,000 now totals $145,058 including our 2.8% cash reserve.

 ...



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Stock World Weekly

Stock World Weekly

Newsletter writers are available to chat with Members regarding topics presented in SWW, comments are found below each post.

Here is the new Stock World Weekly. Please sign in with your user name and password, or sign up for a free trial to Stock World Weekly. Click here. 

Chart by Paul Price.

...

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Promotions

See Live Demo Of This Google-Like Trade Algorithm

I just wanted to be sure you saw this.  There’s a ‘live’ training webinar this Thursday, March 27th at Noon or 9:00 pm ET.

If GOOGLE, the NSA, and Steve Jobs all got together in a room with the task of building a tremendously accurate trading algorithm… it wouldn’t just be any ordinary system… it’d be the greatest trading algorithm in the world.

Well, I hate to break it to you though… they never got around to building it, but my friends at Market Tamer did.

Follow this link to register for their training webinar where they’ll demonstrate the tested and proven Algorithm powered by the same technological principles that have made GOOGLE the #1 search engine on the planet!

And get this…had you done nothing b...



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Pharmboy

Here We Go Again - Pharma & Biotechs 2014

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

Ladies and Gentlemen, hobos and tramps,
Cross-eyed mosquitoes, and Bow-legged ants,
I come before you, To stand behind you,
To tell you something, I know nothing about.

And so the circus begins in Union Square, San Francisco for this weeks JP Morgan Healthcare Conference.  Will the momentum from 2013, which carried the S&P Spider Biotech ETF to all time highs, carry on in 2014?  The Biotech ETF beat the S&P by better than 3 points.

As I noted in my previous post, Biotechs Galore - IPOs and More, biotechs were rushing to IPOs so that venture capitalists could unwind their holdings (funds are usually 5-7 years), as well as take advantage of the opportune moment...



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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

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