FedEx miss; Starz for sale; Hershey upgraded; Microsoft ups dividend
Here are some of the stocks the Yahoo Finance team will be watching for you today.
FedEx (FDX) The package delivery firm is reporting a miss on fiscal first quarter earnings...while revenue was in line with estimates. FedEx says profit was hurt by higher costs for compensation, insurance and FedEx Ground. And the company is cutting its full-year earnings forecast.
Ascena Retail Group (ASNA) The operator of women's clothing stores such as Ann Taylor, Dress Barn and Lane Bryant says excluding certain items, it had a quarterly profit of 6 cents a share, beating estimates. Revenue also topped expectations. Ascena says earnings were impacted by costs related to Lane Bryant and legal issues at its Justice unit. But sales at its e-commerce site helped offset a decline in demand at its stores.
Starz (STRZA) The premium cable programmer with such shows as "Blunt Talk" is reportedly being courted by AMC Networks (AMC). Bloomberg says the talks to acquire Starz-- which is majority owned by billionaire John Malone-- are in the preliminary stages. Bloomberg adds that efforts to sell Starz last year fell through because of disagreements over its valuation.
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Hershey (HSY) The chocolate maker's valuation is sweet music at JPMorgan (JPM). It is raising the rating of Hershey to overweight from neutral, with a price target of $100. The stock closed yesterday at $90.75.
Microsoft (MSFT) The world's biggest software maker is giving shareholders a nickel bonus! The company is raising its quarterly dividend by 5 cents to 36 cents a share. That's a 16% increase.
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