Schaeffer's Trading Floor Blog
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The market see-saw continues, as stocks are poised to start the day solidly lower amid continued concerns from overseas. In company news, here are some stocks to watch today:

  • Intel Corporation (NASDAQ:INTC) said its first-quarter earnings totaled 40 cents per share, a drop from 53 cents in the year-ago period. Revenue slipped just over 2% to $12.6 billion. Analysts were expecting per-share results of 41 cents. (CNBC)

  • Elsewhere, Bank of America Corp (NYSE:BAC) reported a first-quarter profit of 20 cents per share, well above the 3 cents per share earned the previous year. Analysts, on average, had expected the banking giant to earn 22 cents per share. (Reuters)

  • Amgen, Inc. (NASDAQ:AMGN) is on the hook for nearly $25 million to settle allegations that it infringed upon the False Claims Act by offering kickbacks to pharmaceutical companies. The biotech company continues to deny charges that it unfairly promoted its anemia drug Aranesp. (Chicago Tribune)

  • An appeals-court judge in New York state has blocked J.C. Penney Company, Inc. (NYSE:JCP) from selling home products designed by Martha Stewart, at least for the time being. The judge -- who will hear arguments from JCP and its rival Macy's, Inc. (NYSE:M) today -- hopes to rule tomorrow on whether a temporary restraining order is needed. Last week, JCP was told it could continue to market the products, given the lack of evidence that Macy's would be "irreparably harmed" by the competition. (The Wall Street Journal)

  • The Procter & Gamble Company (NYSE:PG) will take a little longer (up to 30 days) to pay its suppliers. By lengthening the payment schedule to 75 days from 45, the consumer-products giant may save up to $2 billion. (Reuters)

  • Discover Financial Services (NYSE:DFS) lifted its quarterly dividend by 6 cents per share to 20 cents. The new dividend will be payable on May 23 to shareholders of record on May 9. (Nasdaq)

  • Finally, as part of its plan to split its publishing and entertainment operations, News Corp (NASDAQ:NWS) has assigned a name to the latter -- 21st Century Fox. This film and television studio under this umbrella, however, will keeps its name rooted in the past -- Twentieth Century Fox. "News Corporation" will remain the name of the publishing arm, which includes titles such as The Wall Street Journal. (Entertainment Weekly)


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