Phillips-Van Heusen (NYSE:PVH) posted earnings per share on a non-GAAP basis of $0.72, which exceeded the Company’s guidance and was 20% ahead of the prior year’s second quarter non-GAAP earnings per share of $0.60.
Additionally, the company said that earnings per share in 2010 is currently projected to be in the range of $3.70 to $3.80 on a non-GAAP basis and includes an increase in advertising expenditures of $15 million over previous guidance.
Shares of Phillips-Van Heusen are higher by 9.7%.
MGM Resorts (NYSE:MGM) received an upgrade today to buy from hold at Soleil with a target price of $14 per share. Shares of MGM are up 6.4%.
Bristol-Myers Squibb Company (NYSE:BMY) will acquire ZymoGenetics (ZGEN) for $9.75 per share in cash. The transaction, with an aggregate purchase price of approximately $885 million, or approximately $735 million net of cash acquired, has been unanimously approved by the boards of directors of both companies. Shares of ZymoGenetics are higher by 84%.
And on relatively normal volume, shares of iStar Financial (NYSE:SFI) are up 11.6%.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
Launch related slideshow
Thursday 5/24 Insider Buying Report: ANF, POL
Thursday 5/24 Insider Buying Report: BBY, RGR
Wednesday 5/23 Insider Buying Report: JBLU, CINF
Daily Market Wrap: May 24, 2012
Tiffany Announces Earnings
Daily Market Wrap: May 23, 2012
Analyst Moves: GDOT, HGSI
Analyst Moves: ACI, ARO
Analyst Moves: SBUX, NDSN
Thursday Sector Leaders: Hospital & Medical Practitioners, Airlines
Thursday Sector Laggards: Computer Peripherals, Semiconductors
Wednesday Sector Leaders: Water Utilities, Apparel Stores
Thursday's ETF with Unusual Volume: HAP
Thursday's ETF Movers: LATM, KWT
EWA, BZQ: Big ETF Outflows
Daily Dividend Report: MNRO, MCD, CTL, MCK, HNZ, POR
Daily Dividend Report: KFT, MRK, C, WRB, DCI
Daily Dividend Report: RL, ESV, HRL, TAP, DSW
Unemployment Rate Falls to 8.1%
Manufacturing Data: April 2, 2012
Inflation, Gasoline Prices Rise
Weekly Market Wrap: May 18, 2012
Weekly Market Wrap: May 11, 2012
Weekly Market Wrap: May 4, 2012
Week Ahead Market Report: May 21, 2012
Week Ahead Market Report: May 14, 2012
Week Ahead Report: May 7, 2012
