Tuesday, August 28, 2012

Stocks In The News (BNS, NKE, MPET, HSH, RIMG)

The Bank of Nova Scotia (USA) (NYSE:BNS) shares gained 1.54% to $54.16 after the company reported third-quarter net ncome of C$1.95 billion from C$1.21 billion in the same quarter last year. Earnings per share for the quarter were C$1.69, compared to C$1.10 in the same period a year ago, an increase of 54%. Adjusted earnings per share for the quarter increased to C$1.72 from C$1.12 last year. Total revenue was C$5.589 billion the quarter, up C$1,218 million or 28% from the same period last year. Analysts expected the company to report earnings of C$1.19 per share on a consensus revenue estimate of C$4.93 billion for the quarter.

NIKE, Inc. (NYSE:NKE) had its price target increased by UBS AG from $99.00 to $106.00 in a research report released on August 24. UBS AG currently has a buy rating on the stock. Additionally, analysts on an average predict that NIKE will post $0.00 earnings per share for the current fiscal year.

Magellan Petroleum Corporation (NASDAQ:MPET) stock soared 67.36% to $1.640 after Stratex Oil & Gas Holdings Inc announced that it has made an offer to acquire Magellan Petroleum for $2.30 per share in cash and stock. The offer was made in a letter to Magellan's CEO with a copy to the Board of Directors on August 27 ,2012 after the CEOs of the two companies had previously discussed Stratex's interest in acquiring Magellan, but had failed to come to any definitive understanding.

Can MPET Continue To Move Higher? Find Out Here

Hillshire Brands Co (NYSE:HSH) announced that it has filed a Notification of Late Filing in accordance with Rule 12b-25 of the Securities Exchange Act of 1934, as amended, with the Securities and Exchange Commission (SEC) for its Annual Report on Form 10-K for the fiscal year ended June 30, 2012. This action provides for a 15 calendar day extension for the filing of its Annual Report on Form 10-K until Sept. 13, 2012.

Rimage Corporation (NASDAQ:RIMG) announced that its Board of Directors has approved a quarterly dividend of $0.17 per share, payable on September 14, 2012 to shareholders of record on August 31, 2012. Based on the current stock price, this represents an approximately 9.8% yield.

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