Whirlpool (WHR) keeps setting high-water marks. The stock has more than doubled since last June. On Friday S&P raised its credit rating on the appliance-maker to "BBB" citing improvements in the housing market and overall economy. Back in January, Whirlpool reported a 40% drop in profits, but that was because of a one-time charge. Whirlpool shares dropped to less than $20 at the start of the housing crisis. They're now trading at about six times that.
Next up, we have AT&T (T) which has announced another share buyback. The company board has approved the repurchase of 300-million outstanding shares. That's on top of another 300-million authorized nine months ago. Since last year, AT&T has bought back 539-million shares. That's 9% of all outstanding ones. AT&T's shares are currently trading about 25% ahead of where they were last April.
Churchill Downs (CHDN) is placing a new bet. The company which is best known for owning the site of the Kentucky Derby is purchasing Oxford Casino in Maine-- a place which opened just last year. Churchill says the acquisition is part of a larger plan to invest capital in gaming-friendly states and newer properties The company stock has been on a jagged climb, and hit its 52-week high on Thursday.
- Investment & Company Information