Jim Cramer Blog

Parker-Hannifin (PH), Eaton (ETN), First Solar (FSLR), Emerson (EMR)
In a volatile market, Cramer suggests sticking with bullish themes that have a future. Instead of investing in a company that wants to perfect the next cool gadget, Cramer once again touted new tech stocks which can solve real problems such as energy, food, water, the environment, poverty, fighting terrorism, disease and education. PH, ETN, FSLR and EMR are developing new technologies to tackle global challenges. Cramer singled out PH for its generous, safe dividend.
Navistar International (NAVZ), Cummins (CMI)
Navistar, which has 60% market share of school buses and trucks is Cramer's favorite in the industry after CMI. NAVZ is developing hybrid diesel engines which can reduce fuel costs by 9-13% and its military division could earn $2 billion. The biggest catalyst is the company's relisting on the New York Stock Exchange. NAVZ was delisted a few years ago after facing accounting problems but should return to the exchange any week now. Cramer thinks this story is similar to Terex's which saw a doubling of its share price after cleaning up its accounting problems. Cramer predicts NAVZ, which trades at a mere 7.7 times forward earnings will jump to $104, a 51% bounce.
Published By SeekingAlpha

Labels: CMI, EMR, ETN, FSLR, Jim Cramer, Mad Money, NAVZ, PH

InterContinental Exchange's price had risen dramatically since Cramer recommended the stock on "Mad Money," but has since returned to previous levels, Cramer said. Neither stock has responded favorably to today's news that the CME, which operates the Chicago Mercantile Exchange and the Chicago Board of Trade, is in talks to buy ICE. "What is the ICE doing down?" Cramer asked.
Cramer also believes the economy is not headed for a recession. He named earnings calls from Honeywell (HON), Caterpillar (CAT), Parker Hannifin (PH) and others as signs of the market's health.
Cramer also noted that the KBW Bank Index and the PHLX Housing Sector Index are rallying because of the rate cuts.
In spite of the positive news, Cramer said he believes more action is needed. Given "the losses that we saw for the quarterlies from a Bank of America (BAC) or a Wachovia (WB) ... I genuinely feel that we are too close to the precipice to stop.
"That doesn't mean that a Honeywell isn't doing fine without it," Cramer cautioned. "It's like 1998, when the economy was booming. ... We had to stop the decline [in the financials] ."
Cramer believes the bank woes may remain independent of the broader economy. "The problems are not with IBM (IBM) or Verizon (VZ) ... AT&T (T ) ... Nokia (NOK) ... Microsoft (MSFT)."
Cramer added that the Federal Reserve's 75-basis-point rate cut last week was helpful. "You needed that cut to be able to raise all that money last week." However, the crisis isn't over. "Home price appreciation is nonexistent. ... We saw that number today. ... The oil futures are saying no recession. I think the Fed cuts are needed again."
Published By TheStreet.com

Labels: BAC, CAT, HON, IBM, ICE, Jim Cramer, MSFT, NOK, PH, Stop Trading, T, VZ, WB

Here are 7 trading ideas for today. This list comes directly from the TradingMarkets Stock Indicators page and is based upon our latest quantitative research.
Bullish
5+ Consecutive Down Days: These are stocks that have closed down for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that close down for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Overstock.com (NasdaqGM:OSTK - News) & AeroVironment (NasdaqGM:AVAV - News). OSTK's PowerRating (for Traders) is 10, and AVAV's PowerRating (for Traders) is 7.
5+ Consecutive Lower Lows: These are stocks that have made a lower low for five or more consecutive days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that make lower lows for five or more days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Parker-Hannifin (NYSE:PH - News). PH's PowerRating (for Traders) is 6.
2-Period RSI Below 2: These are stocks that have a 2-period RSI reading below 2 and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving with a 2-period RSI reading below 2 have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
EDO Corporation (NYSE:EDO - News). EDO's PowerRating (for Traders) is 7.
Stocks Down 10% or More: These are stocks that have lost 10% or more over the past five days and are trading above their 200-day moving average. Our research shows that stocks trading above their 200-day moving average that have lost 10% or more over the past five days have shown positive returns, on average, 1-day, 2-days and 1-week later. Historically, these stocks have provided traders with a significant edge.
Ascent Solar Technologies (NasdaqGM:ASTI - News). ASTI's PowerRating (for Traders) is 7.
Bearish
Stocks Up 10% or More: These are stocks that have gained 10% or more over the past five days and are trading below their 200-day moving average. Our research shows that stocks trading below their 200-day moving average that have gained 10% or more over the past five days have shown negative returns, on average, 1-week later. Historically, these stocks have provided traders with a significant edge.
Barnes & Noble (NYSE:BKS - News) & Nutrisystem (NasdaqGS:NTRI - News). BKS's
Published By TradingMarkets.com

Labels: ASTI, AVAV, BKS, EDO, NTRI, OSTK, PH, Trading Ideas

Bullish:
Apple (NasdaqGS: AAPL): 'I said, at $85 and change it was anointed. It's up $8....because they indeed blew away the numbers.'Savient Pharmaceuticals (NasdaqGM: SVNT): ' ... still like it as much as I did at the beginning of the year. I like their uric acid product. I'm not backing away.'BioMarin Phramaceutical (NasdaqGM: BMRN):' I know people were disappointed in that last quarter. I think it's a mistake. BMRN is a good biotech stock, and a takeover target.'AT&T (NYSE: T)State Street (NYSE: STT): 'I think that the mutual fund clearing business is a great business, a great way to participate in this rally. STT is a thumb and a half up.'Pozen (NasdaqGM: POZN): 'They get that migraine stuff... I mean, this company... There are so many ways to win.'Nastech Pharmaceutical (NasdaqGM: NSTK): ' ... we identified at $10 and it went to $13.50. I'm going to join you on the buy side there. I think you're in good shape. Buy, buy, buy!'Burger King (NYSE: BKC): ... it's been on fire. BKC is a reformed, better outfit. It's really good ... easily, easily going up to $26-$27.'McDonald's (NYSE: MCD)Parker-Hannifin (NYSE: PH): 'Do not lose heart! That was a beautiful quarter. They will find it ... Even though it's been up a lot in the last year... you say I want some PH, and then you get the stampede. That stock is going to $100.'Tellabs (NasdaqGS: TLAB): 'Quite frankly, I thought the stock should have been single digits after that call ... I smell merger. I smell buyout. I smell takeout. Sit with your TLAB. I think something good is going to happen.'Thermo Fisher Scientific (NYSE: TMO): Have much have we liked TMO?... 52-week-high? No, no. More ahead. $50 goes to $60, TMO!'Trinity Industries (NYSE: TRN):Charter Communications (NasdaqGM: CHTR): 'CHTR's minding its own business, going higher ... CHTR, it reports May 2nd. I like the stock very much.'
Bearish calls:
MetroPCS Communications (NYSE: PCS): 'Let's not be too greedy. That stock has had a run. The other ones haven't. I'd actually be more conservative.'Simon Property Group (NYSE: SPG): 'Let that one come in. The commercial real estate market has had a great run. It's not where I want to be right now.'XM Satellite Radio (NasdaqGS: XMSR): 'No. That's a bleeding contest. That's one of those where you're darned if you do and darned if you don't. The congress won't let these two companies merge.'
Published By SeekingAlpha

Labels: AAPL, BKC, Jim Cramer, Lightning Round, Mad Money, PCS, PH, SPG, STT, SVNT, TMO, TRN, XMSR

OM Group (NYSE: OMG - News), Fuel Tech (NasdaqGM: FTEK), Foster Wheeler (NasdaqGS: FWLT), Shaw Group (NYSE: SGR - News)
Completing his week-long segment which featured "green" stocks, Cramer unveiled his two favorite environmental companies: OMG and FTEK. OMG has 25% of the world's supply of cobalt which is used for hybrid car batteries. Cramer predicts cobalt should remain stable or go higher, especially since there are no new sources until 2009. OMG also has exposure to copper, which Cramer thinks will become more valuable, and is fixing its balance sheet. While he recommended FWLT and SGR earlier in the week as clean power picks, Cramer says they are for conservative investors, but for those who are looking for some risk, he likes FTEK as the ultimate speculative Green Day play. The company has technology to make coal power cleaner by reducing nitrogen-oxide emissions and has been getting "contract after contract." Since 49% of electricity in the US is derived from coal, and ethanol is not yet efficient, FTEK is "pretty important." On a general note, Cramer said even though the market is up, he is still bullish; “I am not exaggerating when I say the best is yet to come. We are going to be up 17%" this year."
Picks for the Week Ahead: VF Corp. (NYSE: VFC - News), Parker-Hannifin (NYSE: PH - News), Eaton (NYSE: ETN - News), Honeywell (NYSE: HON - News), Akamai Technologies (NasdaqGS: AKAM), Apple (NasdaqGS: AAPL), Boeing (NYSE: BA - News), PepsiCo (NYSE: PEP - News), Allegheny Technologies (NYSE: ATI - News), Exxon Mobil (NYSE: XOM - News), Halliburton (NYSE: HAL - News), Level 3 Communications (NasdaqGS: LVLT), NYSE (NYSE: NYX - News), Cummins (NYSE: CMI - News), National Oilwell Varco (NYSE: NOV - News)
While Monday will be quiet, Cramer says there will be a lot going on the market for the remainder of the week. On Tuesday, VFC and PH will report, and he expects an upside for both companies since VFC is a "Benefit of the Doubt" play, and he predicts PH will ride the wave with ETN and Honeywell. Wednesday will be busy, and Cramer limited his picks to five; he would buy Akamai for its streaming video and Apple for its iPhone ahead of their earnings reports, BA because it is going to $100, and ATI which will report a "giant number" and Pepsi. On Thursday, he would take a look at XOM, which will report, as well as HAL and LVLT, both of which have "lagged” but may run. Cramer's growth stock of the year, NYX, also reports on Thursday. Cummins and NOV are on the agenda for Friday and are “not done going up"
Mad Mail: Lamson & Sessions (NYSE: LMS - News), Charter Communications (NasdaqGM: CHTR), Dynegy (NYSE: DYN - News), Rite Aid (NYSE: RAD - News)
Cramer likes LMS as a potential acquisition and predicts the risk/reward is 1 point down and 6 points up. Concerning the CNBC 's Million Dollar Portfolio Challenge, Cramer said his favorite stocks are CHTR, DYN and RAD as "great single-digit plays and LVLT as a "good game name."
Published by SeekingAlpha

Labels: ATI, BA, CMI, DYN, ETN, HAL, HON, Jim Cramer, LMS, Mad Money, NOV, NYX, OMG, PEP, PH, RAD, SGR, VFC, XOM

Allegiant Travel Co. (NasdaqGM:ALGT - News) was initiated with a buy rating at Merrill Lynch. The firm set a 12-month price target on the stock of $36. Bear Stearns also began coverage of the company, starting with a peer perform rating.
Amphenol Corp. (NYSE:APH - News) reported fourth-quarter earnings of $78.4 million, or 85 cents a share, up from a year-ago profit of $55.8 million, or 61 cents a share. The latest results reflect a benefit of 2 cents a share related to a reduction in the company's effective tax rate as well as stock option expense of 2 cents a share. Sales rose in the three months ended Dec. 31 to $659.4 million from $508.1 million in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of 81 cents a share in the December period on revenue of $649.3 million. Looking ahead, the Wallingford, Conn., maker of electrical and optical connector products forecast earnings of 80 to 82 cents a share for the first quarter on revenue of between $635 million and $645 million. It sees a profit of $3.45 to $3.55 a share for the full year on revenue of between $2.65 billion and $2.71 billion. The company also said it's planning a two-for-one stock split, payable on March 30 to shareholders of record on March 16.
ASML Holdings (NasdaqGS:ASML - News) was upgraded to buy from sell at ABN-Amro following a strong fourth-quarter financial report. The company was also upgraded to hold from reduce at Fortis Bank. The microchip equipment maker posted a profit of 205.5 million euros for the quarter, up from 51.6 million euros a year earlier.
Bill Barrett Corp. (NYSE:BBG - News) was initiated with a buy rating at A.G. Edwards. The firm set a price target of $35.
Bridgford Foods (NasdaqGM:BRID - News) shares jumped after the Anaheim, Calif.-based company reported fourth-quarter net earnings of $1.08 million, or 11 cents a share. In the comparable period last year, the company posted a net loss of $340,000, or 3 cents a share. Revenue in the 17 weeks ended Nov. 3 rose to $43.2 million from $41.9 million. The comparable period last year had 16 weeks, the company said.
CVS Corp. (NYSE:CVS - News) and Caremark Rx Inc. (NYSE:CMX - News) said qualified Caremark Rx Inc. shareholders will receive a one-time cash dividend of $2 per share after the proposed merger between the companies closes. The companies will also retire 150 million shares of the new company after the deal closes.
Flow International (NasdaqGM:FLOW - News) closed its previously disclosed audit committee probe of allegations that certain members of Flow Asia intentionally and inappropriately recognized certain revenues in fiscal 2007 that should have been recorded in fiscal 2006. As a result, the company said it expects its restated fiscal 2006 results to show an increase to revenue of about $2 million, with a net after tax increase to net income of about $2 million.
HealthSpring (NYSE:HS - News) said it expects earnings of $1.55 to $1.65 a share for fiscal 2007 on revenue of between $1.5 billion and $1.6 billion. The current average estimate of analysts polled by Thomson First Call is for a profit of 34 cents a share in the December period. The Nashville, Tenn., managed care company anticipates its Medicare Advantage membership to be in the range of 130,000 to 135,000 by the end of 2007, up from 115,000 at the close of 2006.
Investors Financial Services (NasdaqGS:IFIN - News) was upgraded to market perform from underperform at Ryan Beck & Co.
Lennar Corp. (NYSE:LEN - News), the Miami homebuilder, swung to a fourth-quarter loss from a year-earlier profit on 15% lower revenue. For the quarter ended Nov. 30, Lennar posted a loss of $195.6 million, or $1.24 a share, compared with net income of $581.2 million, or $3.54, in the year-earlier period. Revenue fell to $4.27 billion from $5.03 billion. A survey of analysts by Thomson First Call produced consensus estimates of a loss of $1.11 on revenue of $4.17 billion.
National Financial Partners Corp. (NYSE:NFP - News) said it expects its fourth-quarter per-share earnings "will be broadly consistent" with the consensus analyst estimate. "This view is consistent with the growth of NFP's firms, acquisition activity, and the challenging life insurance underwriting environment," the company said in a statement.
Neurocrine Biosciences Inc. (NasdaqGS:NBIX - News) was upgraded to overweight from equal weight at Lehman Bros. The firm also boosted its price target on the stock to $18 from $8.
Parker-Hannifin Corp. (NYSE:PH - News) reported fiscal second-quarter earnings of $193 million, or $1.64 a share, up from a year-ago profit of $129 million, or $1.07 a share. The latest results reflect a benefit of 9 cents a share from renewal of a federal tax credit for increasing research activities. Sales rose in the three months ended Dec. 31 to $2.51 billion from $2.16 billion in the same period a year earlier. The average estimate of analysts polled by Thomson First Call was for a profit of $1.40 a share on sales of $2.45 billion in the December period. The Cleveland-based maker of motion and control technology products attributed its profit increase in the second quarter to the strong performance of its Industrial International and Aerospace business segments. Looking ahead, Parker-Hannifin lifted its outlook for the full year to earnings from continuing operations of $6.35 to $6.75 per share from its prior projection of $6.05 to $6.45 a share. Wall Street's current consensus estimate for the year is for a profit of $6.38 a share.
Progressive Corp. (NYSE:PGR - News) reported net income of $138.9 million, or 18 cents a share, for the month of December, up from a year-ago equivalent profit of $122.9 million, or 15 cents a share. For the quarter ended Dec. 31, the Mayfield Village, Ohio-based insurance provider said it earned $400.9 million, or 53 cents a share, up from last year's earnings of $281.6 million, or 35 cents a share. The average estimate of analysts polled by Thomson First Call was for a profit of 50 cents a share in the December quarter.
SPX Corp. (NYSE:SPW - News) said it expects earnings from continuing operations of $3.80 to $3.95 a share for fiscal 2007 on revenue of about $4.7 billion. The Charlotte, N.C., maker of flow technology, test and measurement products said it expects the primary drivers for its profit growth in 2007, estimated at between 26% and 31% from 2006's target, to be continued strength across all of its business segments and a reduced tax rate. The current average estimate of analysts polled by Thomson First Call is for a profit of $3.59 a share in fiscal 2007 on revenue of $4.59 billion. SPX sees free cash flow from continuing operations of between $240 million and $280 million for fiscal 2007.
Shares of Star Scientific (NasdaqGM:STSI - News) soared after the company said decisions on three pending summary-judgment motions in its patent-infringement lawsuit against R.J. Reynolds Tobacco Co., a unit of Reynolds American (NYSE:RAI - News), will be available on the court's Web site on Friday. The Chester, Va., developer of technologies designed to reduce tobacco toxins said in a filing with the Securities and Exchange Commission that Judge Marvin J. Garbis of the U.S. District Court for the District of Maryland provided notice of his rulings on the motions last week. Star Scientific filed a patent-infringement suit in 2001 alleging that Reynolds had violated the company's process to reduce the level of nitrosamines - a carcinogenic toxin - in tobacco.
State Street Corp. (NYSE:STT - News) said fourth-quarter net income for the three months ended Dec. 31 rose 17% to $291 million, or 86 cents a share, from $249 million, or 74 cents a share in the year-ago period. The Boston-based lender said revenue increased 15% to $1.62 billion. Analysts surveyed by Thomson First Call forecast earnings of 84 cents a share and revenue of $1.56 billion, on average. Expenses rose 13% to $1.18 billion from $1.04 billion. Return on shareholders' equity was flat at 15.9%. For 2007, State Street said it plans to target the upper end of its long-term financial goals of revenue growth of 8% to 12%, earnings per share growth of 10% to 15%, and return on equity of 14% to 17%.
Sterling Construction Co. (NasdaqGS:STRL - News) was upgraded to buy from hold at Morgan Joseph & Co.
Stewart Enterprises (NasdaqGS:STEI - News) reported fourth-quarter earnings from continuing operations of $10.7 million, or 10 cents a share, up from a year-ago loss of $2 million, or 2 cents a share. Excluding items, the New Orleans funeral and cemetery services provider posted a profit from continuing operations of $9.2 million, or 9 cents a share in the latest quarter. Revenue rose in the three-month period to $131.2 million from $114.1 million last year. The average estimate of analysts polled by Thomson First Call was for a profit of 6 cents a share in the October period.
TSYS (NYSE:TSS - News) said fourth-quarter net earnings rose to $87.1 million, or 44 cents a share, from $49.7 million, or 25 cents a share, in the same period last year, on the back of higher revenue. The company now sees 2007 net income growth falling between 3% and 5% vs. 2006, down from its prior outlook of a 9% to 7%.
Xoma Ltd. (NasdaqGM:XOMA - News) and Schering-Plough (NYSE:SGP - News) expanded their collaboration agreement, with Schering-Plough exercising its right to initiate additional development programs. Xoma said it would receive upfront payments for each additional program, as well as research funding and royalties on any sales of the products.
Published By Michael Baron

Labels: ALGT, APH, ASML, BBG, BRID, CMX, CVS, FLOW, IFIN, LEN, NBIX, NFP, PGR, PH, RAI, SGP, SPW, STSI, XOMA

Investors have forgotten the power of the bond market to create good buys in stocks, Jim Cramer said on his TheStreet.com TV video Webcast Friday -- in particular, American International Group (AIG).
Cramer stressed that many firms make bets on fixed income, citing Goldman Sachs (GS) and Bear Stearns (BSC) as two firms that are very successful in fixed income markets.
His favorite is AIG, which he labeled the cheapest of insurers. "No one's focused on AIG as just a gigantic bond holder, because they're an insurance company," he said. "This stock has moved very quietly from $65 to $72."
This is despite the fact that former CEO Hank Greenberg has been selling the stock endlessly, according to Cramer. But this selling pressure will abate when his stock runs out.
Overall, Cramer said, the market still looks good, particularly finance because of the long bond, technology and the oils on any pullback.
Cramer said take advantage of the 10-cent price increase on cigarettes at Altria's (MO) Phillip Morris unit and consider buying the stock.
As for oil, he said it's coming back down, and as soon it gets to $60 he recommends the stocks in the sector. He called oils the "absolute best trade," citing Transocean (RIG) as a stock he really likes.
Cramer said the week was book-ended by problems in housing, referring to Best Buy (BBY) as a housing player because of its big-screen TVs and home studios business. He also noted Black & Decker (BDK) and warned investors about ITW (ITW) and Ingersoll-Rand (IR).
Cramer said Parker Hannifin (PH) under $80 is intriguing to him, and he still likes Honeywell (HON) off its dividend boost. But he cautioned investors to be careful with the industrials.
Published By TheStreet.com

Labels: AIG, BBY, BDK, BSC, Cramer's TheStreet.com TV Recap, GS, HON, IR, ITW, MO, PH, RIG

Beckman Coulter (NYSE:BEC - News) said it plans to sell $525 million worth of convertible debt, due 2036. The Fullerton, Calif. biomedical systems maker expects to grant the underwriters of the convertible debt option to buy up to an additional $75 million to cover over-allotments. Concurrently, the company said it would launch a 2.5 million share buyback program. The company said it would use the proceeds from the convertible debt sale to repurchase $100 million worth of its common stock.
Brookfield Properties Corp. (NYSE:BPO - News) plans to sell 30 million shares to investors. Brookfield Asset Management, which owns 51% of Brookfield Properties, will purchase around 11.25 million shares. Brookfield Properties will use the offer proceeds to repay outstanding debt and for general corporate purposes. Merrill Lynch, Pierce, Fenner & Smith Inc. and J.P. Morgan Securities will act as joint book-running managers and underwriters for the proposed offering. Separately, Brookfield Properties said that it's expecting to report 2007 funds from operations per share in a range of $2.10 to $2.20, reflecting up to 17% growth over the mid-point of 2006 guidance.
Devon Energy (NYSE:DVN - News) said Brian Jennings has left the company's chief financial officer position. The company said the departure is "in no way related to any issues regarding financial disclosures, accounting matters or other business issues."
Diodes Inc. (NASDAQ:DIOD - News) was downgraded to neutral from buy at UBS, citing valuation and concerns about moderating growth. The firm lowered its price target to $45 from $52.
Eaton Corp. (NYSE:ETN - News) was downgraded to neutral from outperform at Credit Suisse.
Hubbell Inc. (NYSE:HUB-A - News) (NYSE:HUB-B - News) cut its estimate of 2006 earnings to $2.53 to $2.58 a share. The Orange, Conn., company said it also cut its 2006 sales estimate to $40 million. Hubbell said it is seeing lower volumes in several of its key markets and the pace and depth of the decline has accelerated more rapidly than expected in the fourth quarter.
Memory Pharmaceuticals Corp. (NASDAQ:MEMY - News) plans begin the Phase IIa clinical trial for MEM 3454, a potential treatment for Alzheimer's disease, in the first quarter after the U.S. Food and Drug Administration released its clinical hold on development of the drug. The FDA, which had put development of the drug on hold in October, has now completed its review of Memory's investigational new-drug application, Memory said.
Nuvelo Inc. (NASDAQ:NUVO - News) and Bayer AG (NYSE:BAY - News) said a Phase III clinical trial of alfimeprase in acute peripheral arterial occlusion didn't meet its primary endpoint of avoidance of open vascular surgery within 30 days of treatment. The Phase 3 trial in catheter occlusion didn't meet the endpoint of restoration of function within 15 minutes. These trials did not meet key secondary endpoints, they added. Further, they have temporarily suspended enrollment in the ongoing Phase 3 NAPA-3 and SONOMA-3, until further analyses and discussions with outside experts and regulatory agencies are completed.
Parker-Hannifin Corp. (NYSE:PH - News) was downgraded to neutral from outperform at Credit Suisse. The firm cited softening end markets and weaker North America business.
Steel Dynamics (NASDAQ:STLD - News) was downgraded to neutral from buy at UBS citing valuation.
Synergetics USA Inc. (NASDAQ:SURG - News) reported fiscal first-quarter net earnings of $377,000, or 2 cents a share, down from $486,000, or 4 cents a share, in the year-ago period. There were 24.4 million shares outstanding in the quarter, compared with 11.9 million in the same period last year.
UnionBanCal Corp. (NYSE:UB - News) said its main subsidiary, Union Bank of California, will receive a tax refund and interest from the State of California totaling $113.7 million, or $72.6 million after taxes. The settlement is for recovery of taxes paid between 1989 and 1995.
VeraSun Energy (NYSE:VSE - News) shares slid after the company said Friday that Donal Endres, its chairman and CEO, has established a pre-arranged trading plan to sell a portion of his stock holdings.

Labels: BAY, BEC, BPO, DIOD, DVN, ETN, Hot Stocks, HUB, MEMY, NUVO, PH, STLD, SURG, UB, VSE