Investors Business Daily:
Business

• GE, United Technologies Vie For Jet Engine Supremacy (Wed, 19 Jun 2013 17:45:00 GMT)
  Airbus and Boeing (BA) are battling for orders at the Paris Air Show. Engine makers General Electric (GE) and United Technologies (UTX) are also in a heated fight to win orders and secure dominance in the engine market. Aircraft orders take center stage at air shows. Airbus and Boeing have announced large orders from Ryanair (RYAAY), United (UAL), Air Lease (AL), British Airways, Qatar Airways, SkyWest (SKYW) and more. But engine makers have
  
  
  
• Bank Recovery Seen Picking Up Despite Lending Report (Wed, 19 Jun 2013 17:11:00 GMT)
  The regulator who oversees the $26 billion settlement among five of the nation's largest mortgage lenders and the government over mortgage loan abuses said they aren't living up to terms of the agreement. Shares of the four banks on the list: Bank of America (BAC), JPMorgan Chase (JPM), Citigroup's (C)CitiMortgage unit and Wells Fargo (WFC) were largely unaffected in early Wednesday trading after the regulator's report came out. The fifth lender,
  
  
  
• Boeing, Embraer Narrow-Body Jets Rule Paris Air Show (Wed, 19 Jun 2013 16:22:00 GMT)
  Boeing (BA) and Embraer SA (ERJ) inked more deals for their narrow-body jets at Paris Air Show on Wednesday. Experts expected the air show to be a battle of the wide-body jets, but orders for smaller planes have taken center stage as airlines upgrade their existing fleets or expand into new markets. Orders at the show have topped $100 billion. Boeing said it reached an agreement with aircraft leasing company CIT Aerospace to sell 30 of its new
  
  
  
• Men's Wearhouse Founder, Pitchman Fired, Shares Fall (Wed, 19 Jun 2013 15:21:00 GMT)
  Men's Wearhouse (MW) shares fell in morning trading Wednesday after the surprise announcement that its board had fired the company's iconic founder and pitchman George Zimmer as executive chairman. His termination came hours before the company's annual meeting, which was postponed "to re-nominate the existing slate of directors without Mr. Zimmer," according to a press release. A spokesman for the board said there would be "no further comment at
  
  
  
• FedEx Ground Game Trumps Air Freight Turbulence (Wed, 19 Jun 2013 14:57:00 GMT)
  Efforts by package delivery firm FedEx (FDX) to boost its ground shipping service paid off in its fiscal fourth quarter as a strong performance from the segment helped the company breeze past earnings views despite "tepid" economic growth. But the world's second largest delivery company behind UPS (UPS) gave weak guidance for the current year and said it will cut some U.S.-Asia capacity. FedEx said its FedEx Ground unit posted $2.78 billion in
  
  
  
• 6 Big Cap Stocks Poised For Strong Earnings Growth (Wed, 19 Jun 2013 12:05:00 GMT)
  Big companies offer the safety of size and stability. If they have a recent history of strong profit gains and are projected to outperform the overall market, they're good candidates for a stock watch list. Here are six big-cap leaders that analysts expect to post strong earnings per share growth this quarter: LinkedIn (LNKD), Green Mountain Coffee Roasters (GMCR), Michael Kors Holdings (KORS), Actavis (ACT), Hertz Global Holdings (HTZ) and
  
  
  
• MGM Plans $350 Mil Arena On Revitalized Vegas Strip (Tue, 18 Jun 2013 20:11:00 GMT)
  To capitalize on Las Vegas recovery, MGM Resorts International (MGM) and entertainment company AEG plan to build a 20,000-seat arena on the Vegas Strip. They named design firm Populous to draw up plans for the $350 million arena. Groundbreaking is set for summer 2014 and the as-yet-unnamed arena is scheduled to open in spring of 2016. MGM and AEG, a unit of privately held entertainment and sports complex builder and operator the Anschutz Co., will
  
  
  
• Acquisitions Add To Jazz Pharma's Diversity (Tue, 18 Jun 2013 19:56:00 GMT)
  Fighting off the Sandman is no easy task. The struggle can be particularly grueling for the 157,000 Americans who suffer from narcolepsy. More than 10,000 have turned to Xyrem in an attempt to win that battle. The drug has delivered stellar revenue growth for Jazz Pharmaceuticals (JAZZ). In Q1, sales of Xyrem soared by 60% from the prior year quarter to $117.5 million. Although it is not the only drug in Jazz's arsenal, it did account for 65.7% of product sales.
  
  
  
• Tim Hortons Shares Jump As Investors Push For Change (Tue, 18 Jun 2013 18:23:00 GMT)
  Tim Hortons (THI) shares jumped in hefty trading volume early Tuesday on prospects for more investor-pressured changes at the struggling coffee and doughnut chain. Hedge fund Scout Capital Management, which holds a 5.5% stake in the company, said in a filing that it's had talks with Hortons' management about its capital structure, share buybacks, management pay and other topics, and expects to continue such discussions. Early last month, Hortons
  
  
  
• United Tech To Pay $473 Mil For Overcharging Military (Tue, 18 Jun 2013 18:12:00 GMT)
  United Technologies (UTX) will pay $473 million and interest over a 1999 lawsuit for manipulating pricing to win Air Force jet engine contracts more than two decades ago. United Tech shares rose 1% to 95.95 in the stock market today. The lawsuit was filed by the Department of Justice in 1999 and claimed United Tech's Pratt & Whitney unit overcharged the government. In 2008 District Judge Thomas Rose in Dayton, Ohio, ruled that United Tech was
  
  
  
• Hormel Latest Meat Producer To Warn Of Lower Profits (Tue, 18 Jun 2013 17:37:00 GMT)
  Hormel Foods (HRL) shares fell sharply early Tuesday in heavy volume after the meat producer cut its full-year profit outlook, citing weakness in its pork business and rising costs. The warning comes amid broad changes in the industry as rival Smithfield Foods (SFD), the world's largest pork products producer, ponders a bid for the company by a Chinese company and considers appeals from investors to split up the company. Hormel now sees full-year
  
  
  
• GE Announces Russian Joint Venture, Mass Hiring In US (Tue, 18 Jun 2013 17:25:00 GMT)
  General Electric (GE) and the Russian Direct Investment Fund announced their plans Tuesday to form a join venture to build mini power plants in Russia. As the industrial sector in Russia grows, so does its need for power generation systems. The 25 megawatt plants are built independently of the federal power grid, don't require the production of expensive and time-consuming transmission lines and reduce the risk of power cuts, according to the
  
  
  
• Success Of Starbucks New Menus Depends On Readability (Tue, 18 Jun 2013 16:59:00 GMT)
  Starbucks (SBUX) said it will display calorie counts for all products on menu boards starting June 25. It joins McDonald's (MCD) and other restaurants trying to appeal to more health-conscious consumers. But based on a recent study, how effective the new menus will be depends on how they're worded. The world's largest coffeehouse chain -- like McDonald's, Brinker International (EAT)-owned Chili's, DineEquity's (DIN) Applebee's, and Yum Brands'
  
  
  
• United Joins Delta In Putting Price On Flier Reward (Tue, 18 Jun 2013 16:38:00 GMT)
  United Continental Holdings (UAL), the world's largest airline by passenger traffic, joined Delta Air Lines (DAL) in a move to reward elite passengers based on both spending levels and miles traveled. Starting in January, United passengers must spend $10,000 and travel 100,000 miles or 120 segments in order to gain the top status of Premier 1K, Chicago-based United said in an e-mail to MileagePlus customers. Delta, the world's
  
  
  
• Airbus, Boeing Ink Orders For Fuel Efficient Jets (Tue, 18 Jun 2013 15:55:00 GMT)
  The rain may have stopped at the Paris Air Show Tuesday, but orders for Airbus and Boeing's (BA) larger and more fuel-efficient jets kept pouring in. Air Lease Corp. (AL), which leases planes to airlines, signed for three firm orders for the 787-9 and for 30 787-10s. Boeing's 787-9 is a larger version of the current Dreamliner and seats up to 290 passengers, but uses 20% less fuel than current similarly sized planes. The 787-10 is even larger,
  
  
  
• Ambarella Leads Top 5 Stocks With Bolting RS Lines (Tue, 18 Jun 2013 12:05:00 GMT)
  There's a leader in every industry, and today's leaders that are outpacing the market are likely to be tomorrow's biggest winners. Today's Screen Of The Day is Bolting RS Lines. IBD's Relative Strength line measures a stock's performance vs. the S&P 500 index, and stocks with rising RS lines are outpacing the market. Today's screen includes a young, diverse group of stocks. Here are the top 5 stocks with Bolting RS lines: chipmaker Ambarella
  
  
  
• Priceline Conquered Europe, Now Marches To Take U.S. (Mon, 17 Jun 2013 19:27:00 GMT)
  Priceline (PCLN) lords over Europe's hotel kingdom with its industry-leading Booking.com. Booking.com also lords over Priceline, accounting for a majority of the company's international bookings. It's done well, even through the Continent's fiscal woes, as Europeans kept going on holiday no matter what. So it is no wonder the Norwalk, Conn.-based online travel company describes itself as a "leader in global online hotel reservations." What about
  
  
  
• Terex Shares Plunge After It Cuts 2013 Outlook (Mon, 17 Jun 2013 17:37:00 GMT)
  Terex (TEX) joined the list of heavy equipment operators lowering forecasts for this year as the hot pace of U.S. construction slows and global markets remain weak. Terex shares plunged nearly 10% in extremely heavy volume in Monday afternoon trading in the stock market today. The maker of capital equipment for construction, infrastructure, mining and other industries guided second quarter earnings per share of 50 to 60 cents. That's well below
  
  
  
• Weyerhaeuser Up After Longview Deal, CEO Appointment (Mon, 17 Jun 2013 17:27:00 GMT)
  Weyerhaeuser (WY) shares were up 2.5% to 29 Monday after the housing and wood products company announced plans to buy Longview Timber and appointed a new CEO on Sunday. Weyerhaeuser agreed to buy the timber company from Brookfield Asset Management (BAM) for $2.45 billion in an all-stock deal in an effort to boost its presence in the Pacific Northwest. In the deal, Weyerhaeuser will receive 645,000 acres of timberlands in Washington and Oregon.
  
  
  
• Smithfield Again Urged By Large Investor To Split Up (Mon, 17 Jun 2013 17:08:00 GMT)
  One of Smithfield Foods' (SFD) largest investors proposed the pork producer break into three separate businesses rather than move forward with its planned $4.7 billion sale to a Chinese group. Activist shareholder Starboard Value urged the world's largest pork producer to split into hog production, pork and international units, and shop the businesses separately, saying Smithfield might be worth well in excess of the $34 per share offer from
  
  
  
• Sources: EU Regulators OK ICE, NYSE Euronext Deal (Mon, 17 Jun 2013 16:54:00 GMT)
  Antitrust regulators cleared the IntercontinentalExchange's (ICE) bid for NYSE Euronext (NYX) after no competition concerns were found, according to sources cited in a Reuters article. With the clearance from antitrust regulators, the exchange's $8.2 billion bid for rival NYSE Euronext should get unconditional EU approval. The Commission, the pan-European competition regulator, is slated to make an official announcement regarding the merger June
  
  
  
• Homebuilder Stocks Rise On Soaring Expectations (Mon, 17 Jun 2013 16:18:00 GMT)
  Homebuilder stocks traded higher Monday morning after a key builder confidence index soared to the highest level since April 2006. The National Association of Home Builders/Wells Fargo Housing Market Index, or HMI, passed the crucial tipping point of 50 in June to 52, eight points higher than in May. A reading above 50 shows that more builders view conditions for the next six months as good than poor. The index has not been above 50 in more than
  
  
  
• Lowe's To Build California With Orchard Supply Deal (Mon, 17 Jun 2013 16:09:00 GMT)
  Lowe's Cos. (LOW) has moved to build its presence in California with an agreement to buy most the stores run by rival Orchard Supply (OSH) for about $205 million in cash. Orchard filed a voluntary Chapter 11 bankruptcy petition in the U.S. Bankruptcy Court for the District of Delaware on Monday to facilitate the sale and restructure its balance sheet. The agreement with Lowe's, the No. 2 home improvement retailer, is the "initial stalking horse"
  
  
  
• Boeing, Airbus Tout Wide-Body Jets At Paris Air Show (Mon, 17 Jun 2013 15:03:00 GMT)
  The rain didn't ground orders for wide-body jets at the Paris Air Show Monday. Boeing (BA) and Airbus announced large orders for their long-haul planes as the air show took off at Le Bourget airfield north of Paris. Airbus, which is headquartered in Toulouse, an hour flight south of the air show, announced a potential order from Doric Lease Corp. for 20 of the A380 jumbo jets. The deal has a list price of $8 billion and still has to be confirmed.
  
  
  
• Kroger Earnings Due As Grocers Revive; Rivals Enter (Mon, 17 Jun 2013 12:05:00 GMT)
  Investors will learn Thursday whether Kroger's (KR) efforts to attract customers with price cuts and loyalty cards paid off -- while looking ahead to the resurgent grocery industry's new competition. The No. 1 U.S. grocery chain, with annual revenue approaching $100 billion, will report first-quarter earnings before the market opens. Analysts expect a 14% gain to 89 cents a share, according to the consensus of 16 analysts polled by Thomson Reuters.
  
  
  
• Earnings Preview: Pier 1 Not Chilled By Cool Spring (Sat, 15 Jun 2013 12:05:00 GMT)
  An unseasonably cool spring likely had little effect on Pier 1 Imports (PIR), which reports fiscal first-quarter earnings Thursday. Wall Street forecasts a 19% EPS rise to 19 cents for the Fort Worth, Texas, home furnishing retailer. Sales are expected to jump 9.4% to $395.02 million, according to analysts polled by Thompson Reuters. On June 13, Wedbush analysts reaffirmed their outperform rating on Pier 1 on strong sales momentum. The
  
  
  
• Furniture Maker La-Z-Boy Eyes Strong Quarterly Results (Sat, 15 Jun 2013 12:05:00 GMT)
  Furniture manufacturer La-Z-Boy (LZB) is expected to post a 56% year-over-year increase in earnings when it reports fiscal fourth-quarter results after the close Tuesday, which would give the company its second straight year of robust profit growth. La-Z-Boy, best known for the popular recliner of the same name, is expected to log EPS of 28 cents a share for the quarter, according to a poll of Thomson Reuters analysts. That's up from 18 cents the
  
  
  
• Green Mountain, Dean Foods: A Tale Of Two Wholesalers (Fri, 14 Jun 2013 21:28:00 GMT)
  Food wholesaling is a tricky business. On the raw materials side are commodities prices -- grains, meats, dairy -- perpetually driven by factors like weather and speculative investors. On the end-market side are retail prices, forever changing to meet consumer's tastes and spending trends. The combination of drought and recession over the past few years has made the challenge particularly complex. During those years, wholesalers have worked to
  
  
  
• U.S. Defense Giants Declare No-Fly Zone In Paris (Fri, 14 Jun 2013 18:21:00 GMT)
  A Northrop Grumman (NOC) subsidiary predecessor built the "Spirit of St. Louis," which Charles Lindbergh flew to Paris on the first non-stop trans-Atlantic flight. But to cut costs the aerospace and defense giant won't attend the Paris Air Show starting Monday. Northrop isn't the only defense contractor scaling back at the world's largest air show. Lockheed Martin (LMT) will have a reduced presence and CEO Marilyn Hewson won't attend. Boeing (BA)
  
  
  
• Eastman Chemical Mixes Strong Growth Formula (Fri, 14 Jun 2013 18:10:00 GMT)
  When it comes to developing a formula for growth, who better than Eastman Chemical to come up with the right mix of ingredients? Through a series of divestitures and acquisitions over the past several years, Eastman (EMN) has reduced its exposure to cyclical commodity chemical markets and increased its emphasis on the faster-growing, more stable specialty chemicals businesses. The company has also expanded its reach geographically in the Asia
  
  
  
• Can Female-Focused Lululemon Sell Yoga Pants To Men? (Fri, 14 Jun 2013 17:00:00 GMT)
  Yoga is an equal opportunity exercise, good for both women and men. But much of the yoga gear available is targeted at women. Yoga clothing maker Lululemon (LULU) announced it would open stand alone men's stores in a effort to expand its brand. At an investor's conference Thursday, outgoing CEO Christine Day said the company plans to roll out the men's stores in 2016 and has been targeting its campaigns towards men, emphasizing how yoga can help
  
  
  
• Smith & Wesson Hits Target With Strong Earnings (Fri, 14 Jun 2013 15:53:00 GMT)
  Smith & Wesson (SWHC) shares shot up Friday on the company's strong preliminary fourth-quarter earnings report and its announcement of a $100 million stock buyback on Thursday evening. Smith & Wesson, which vies with Sturm Ruger (RGR) for the top spot among U.S. firearms makers, racked up record sales as consumers wary of possible tighter regulation in the wake of mass shootings and bombings, including the Boston Marathon terror attack April 15,
  
  
  
• Mortgage Standards Too Tight Or Inflating New Bubble? (Thu, 13 Jun 2013 22:05:00 GMT)
  Banks have eased off the brakes of mortgage lending, but are standards still too tight? Way too tight, contend real estate industry and lending advocates, who say banks' reticence to lend has prevented a more robust housing recovery. But other industry observers worry that the push to open up lending is a race back to the reckless lending standards that helped inflate the housing bubble that burst in 2006. "Has the National Association of Realtors
  
  
  
• Professional Office Space Users Tighten Belt On Costs (Thu, 13 Jun 2013 22:00:00 GMT)
  Taking a cue from corporate America, professionals such as lawyers, accountants and doctors are reassessing their real estate needs and sometimes opting for less space. It's in response to increasing costs, competition and regulation amid a sluggish recovery and the rise of technology that lets employees work from just about anywhere. Law and accounting firms are concentrating on improving efficiency by reducing the amount of square footage per
  
  
  
• Private Equity Giants Like Carlyle Target Real Estate (Thu, 13 Jun 2013 22:00:00 GMT)
  The second-biggest manager of alternative assets, Carlyle Group (CG), is seeking to raise $4 billion for its seventh real estate fund, said a person with knowledge of the plans. The new fund would be the firm's largest ever for property investments, said the person, who asked not to be identified as the fundraising isn't public. The Washington-based firm raised $2.3 billion for its current fund after the credit crisis. Carlyle
  
  
  
• Will Foreclosures Slow Home Price Gains? (Thu, 13 Jun 2013 22:00:00 GMT)
  Lenders stepped up action last month against homeowners who had fallen behind on mortgage payments, taking possession of more homes and starting the foreclosure countdown clock on many others. Completed foreclosures jumped 11% nationally in May from April, with monthly increases taking place in 33 states, foreclosure listing firm RealtyTrac said Thursday. The monthly pick-up reflects a rise in homes entering the foreclosure process last year. Many
  
  
  
• Mortgages Go For Nearly 4% Ahead Of Fed (Thu, 13 Jun 2013 22:00:00 GMT)
  Fixed U.S. mortgage rates rose for the sixth straight week, putting the average rate on the 30-year loan just shy of 4%. Mortgage buyer Freddie Mac (FMCC) said Thursday that the rate on the 30-year loan increased to 3.98%. That's up from 3.91% last week and the highest since April 2012. The average rate was last at 4% or higher in March 2012. The rate on the 15-year loan advanced to 3.10% from 3.03 %. That's also the highest since April 2012.
  
  
  
• Ross Chalks Up Quarter With Brand Name Values (Thu, 13 Jun 2013 18:22:00 GMT)
  Many of the nation's retailers would probably like to pretend this year's first quarter never happened. Unseasonably cold weather, payroll tax increases at the start of the year and delayed tax refunds were among the head winds that led to weak sales, broader markdowns, and slow earnings growth at many chains. "It was a tough quarter for a broad swath of retailers," said Ken Perkins, president of Retail Metrics. Fifty-four out of the 117 retailers
  
  
  
• DuPont Warns Of Profit Hit As Tough Winter Takes Toll (Thu, 13 Jun 2013 17:20:00 GMT)
  The wet winter across much of the U.S. heartland and in Europe continues to take its toll. Chemical maker DuPont (DD) warned that its earnings will be lower than expected as a result of lower sales because of weak agriculture chemical sales. The harsh winter that hurt spring planting this year followed a drought that devastated much of the Midwest corn crop last year. DuPont now expects first-half operating profit to be 10% below last year, vs.
  
  
  
• Southwest Warns On Summer Travel Numbers (Thu, 13 Jun 2013 17:10:00 GMT)
  Wanna get away? Southwest Airlines (LUV) passengers are responding with a "no, thanks." At a Deutsche Bank investor conference on Thursday, the budget airline said it expects a dip in passenger revenue per available seat mile during the current quarter. "Revenue trends since March have been softer than we anticipated," CFO Tammy Romo said during the conference. The company has been offering fare sales to fill more seats, but the sales push down
  
  
  
• Coty Not So Pretty In First Day Trading, Shares Fall (Thu, 13 Jun 2013 16:39:00 GMT)
  Coty (COTY) wasn't too pretty on Thursday, its first day of trading on the New York Stock Exchange. Coty's IPO priced at $17.50 late Wednesday, in the middle of its projected range of $16.50 to $18.50 per share. The beauty products company raised $1 billion in its IPO of 57.1 million shares. But shares were trading at 17.31 midday after falling as low as 16.9 in the stock market today. Coty makes Rimmel makeup, Sally Hansen nail polish and
  
  
  
• Wall Street Cheers Gannett-Belo Deal News (Thu, 13 Jun 2013 16:01:00 GMT)
  People have been writing the obit for the newspaper business for years. Those headlines haven't gone unnoticed by the nation's largest newspaper chain, Gannett (GCI). Over the past few years, Gannett has branched out into high-margin businesses to create a diversified multimedia powerhouse with a stable of TV stations and websites. In a move to build more muscle in the broadcast world, Gannett has agreed to buy TV company Belo Corp. (BLC) for $1.5
  
  
  
• Safeway Soars On Plans To Spend $5.7 Bil From Sale (Thu, 13 Jun 2013 15:38:00 GMT)
  Investors applauded grocery giant Safeway's (SWY) sale of its Canadian operations and its plans to used proceeds to pay down debt and buy back shares. The $5.7 billion sale to Empire Co., which operates Sobeys in Canada, announced late Wednesday is expected to move Safeway closer to its goal of upgrading its debt rating to BBB. Safeway CEO Robert Edwards said another reason for the transaction was to generate funds to invest in growth
  
  
  
• Analyst: Panera Looks To Eat Into Cosi's Market Share (Thu, 13 Jun 2013 15:36:00 GMT)
  Fast casual restaurant chain Panera Bread (PNRA) might get a boost from a CEO change at rival Cosi (COSI), according to a note released this morning from Miller Tabak senior restaurant analyst Stephen Anderson. Anderson says the resignation of former Cosi Chief Executive Carin Stutz, announced Tuesday, should open the door for Panera to gain market share in urban areas where Cosi has an edge. "Cosi has long has had an advantage over Panera in
  
  
  
• Homebuyers Pile Into Market As Interest Rates Rise (Wed, 12 Jun 2013 23:20:00 GMT)
  Homebuyers are rushing into the housing market as interest rates rise, afraid they might miss the low-rate boat. But low inventory and cooling demand from investors as prices rise likely will contain the frenzy and keep bidding wars from pushing the housing market into bubble land, experts say. At the same time, they say, an improving economy will support demand for homes. And higher prices and rates may spark sellers who are in
  
  
  
• Homebuilder MDC Holdings Rises In West, Florida Next (Wed, 12 Jun 2013 19:47:00 GMT)
  Richmond American Homes' parent MDC Holdings (MDC) is building itself back to health as the housing market improves. But it still has a ways to go to reach its peak in the pre-crash glory years. The high mark was in 2005. That year, the company's stock hit 89.63 while revenue was closing in on the $5 billion mark. Earnings soared to more than $11 a share. This year, analysts expect earnings to reach $2.23, up 74% from last year, and for revenue to
  
  
  
• One-Time Highflier Booz Allen Sees Shares Fall (Wed, 12 Jun 2013 19:00:00 GMT)
  Booz Allen Hamilton (BAH) stock had outperformed the market this year with shares soaring 50% from a low of 12.51 March 1 to an 18.74 close May 22. Its stock carries an IBD Relative Strength Rating of 90, which means it had outperformed 90% of all stocks, even after being down 7% this week. Its trouble began with disclosure that Booz Allen employee Edward Snowden was the source behind revelations regarding the top-secret "Prism" under which the
  
  
  
• House Questions FAA Approval Of Boeing's Dreamliner (Wed, 12 Jun 2013 18:59:00 GMT)
  Congressmen questioned the FAA's certification of Boeing's (BA) 787 Dreamliner at a committee heading on Wednesday. Meanwhile, Japan's All Nippon Airways was forced to cancel a flight over problems with the Rolls-Royce engine on the aircraft. Rep. Rick Larsen, D-Wash., said the grounding of Boeing's new jet raised "legitimate questions" on the FAA's approval process. Larsen's district includes a large Boeing plant. The FAA has improved the tests
  
  
  
• Biogen Stock Dips On Concerns Of MS Drug Protection (Wed, 12 Jun 2013 17:38:00 GMT)
  Shares of biotech Biogen Idec (BIIB) soared 74% this spring, rising from a low of 139.72 on Jan. 15 to an all-time high 242.64 on May 28. Its stock carries a near-best 98 IBD Composite Rating, which means it's outperformed 98% of all stocks on key metrics such as sales and profit growth. But shares fell sharply early Wednesday after Citigroup downgraded it from buy to hold late Tuesday. Citi analyst Yaron Werber in a client note cited concerns
  
  
  
• Occidental Plan May Fuel Rivals To Spin Off U.S. Units (Wed, 12 Jun 2013 16:19:00 GMT)
  Occidental Petroleum's (OXY) proposal to split its U.S. and foreign businesses is pressuring more oil companies to follow suit, as the allure of breakups to create more than $100 billion of market value entices investors. ConocoPhillips (COP), Anadarko Petroleum (APC) and Talisman Energy (TLM) are among those being asked whether the U.S. shale boom has made their global business model obsolete. Separating relatively low-cost
  
  
  
• Cooper Tire Purchased By India's Apollo Tyres (Wed, 12 Jun 2013 16:02:00 GMT)
  Shares of Cooper Tire & Rubber (CTB) soared more than 40% on the announcement it is being bought out by India's Apollo Tyres for $2.5 billion in cash to create the seventh-largest tire company, according to the companies Wednesday. Apollo Tyres will pay $35 per share for Cooper. Cooper closed Tuesday at 24.56, but by midday Wednesday were near 34.52 in the stock market today. Goodyear Tire & Rubber (GT) shares were up more than 3%. Apollo
  
  
  
• PVH Seen Showing Stylish First Quarter (Wed, 12 Jun 2013 15:43:00 GMT)
  Wall Street expects PVH Corp. (PVH) to deliver a solid first quarter when it reports results after the close of the stock market today as the clothing powerhouse continues to wow customers with fashions from iconic brands like Tommy Hilfiger and Calvin Klein. Analysts polled by Thomson Reuters see first-quarter earnings rising 4% to $1.35 a share. That would be a slower pace than the 7% pop PVHsaw in the fourth quarter. But they expect sales to
  
  
  
• Caesars Entertainment Antes Up For iOS, Android App (Wed, 12 Jun 2013 14:28:00 GMT)
  U.S. casino companies have run up against pretty long odds in recent years as they've faced a reeling global economy and a mass exodus of customers from the traditional gambling mecca of Las Vegas to the Chinese territory of Macau. It's little wonder that the big players have decided to broaden their footprints into other areas, including interactive and electronic gambling. One of those players, Caesars Entertainment (CZR), looks to increase its
  
  
  

_{Copyright 2000-2009 Investor's Business Daily, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.}