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Stock in Downers Grove-based Sara Lee Corp. took a dive Wednesday amid uncertainty about the company’s future. It closed down 5.7 percent, to $18.52.
Investors have been lifting the stock to 52-week highs since early December on reports that the company is likely to be broken up or sold. Get the full story »
Two Discover Financial Services executives ended 2010 by selling nearly $4 million in stock of the Riverwoods-based credit card company.
On Dec. 20, President Roger Hochschild sold 100,000 shares for an average price of $18.26. On Dec. 27, Chief Financial Officer Roy Guthrie sold 115,000 shares for an average price of $18.50, according to Securities and Exchange Commission records. Get the full story »
BP shares on Tuesday jumped to their highest level in seven months after the company announced it was selling another $775 million in assets to help pay for the Gulf oil spill.
The British oil giant expects to pay nearly $40 billion to handle the spill and has aggressively raised money to meet that obligation. In addition to suspending its dividend and selling bonds, the company has sold nearly $22 billion in assets. It plans to shed up to $30 billion in company assets by the end of 2011. Get the full story »
CNA Financial Corp. has offered to purchase the stock of CNA Surety Corp. that it doesn’t own.
CNA Surety, which provides surety and fidelity bonds, said its board of directors has formed a special committee to consider the proposal. CNA Financial is offering $22 for each share. Get the full story »
IBM shares hit an all-time high Monday, with the stock riding a slight market upswing. It rose as high as $139.88 before closing at $139.66, up 81 cents for the day. The previous high was $139.19, reached during the dot-com boom on July 13, 1999. Get the full story »
U.S. stocks finished higher Friday, with the Dow closing above the 11,000 mark for the first time in five months, as a surprisingly weak jobs report strengthened the case for more stimulus from the Federal Reserve. Get the full story »
An FBR Capital Markets analyst on Tuesday cut his rating on shares of W.W. Grainger Inc., saying the facilities maintenance company’s stock is too expensive in light of slowing economic growth and an expectation for tougher sales comparisons for the rest of the year.
Supermarket operator Supervalu Inc. said on Thursday it will buy back up to $70 million of its common shares through June 30, 2011.
The operator of Albertsons, Jewel-Osco and Shaw’s stores also declared a regular quarterly dividend of $0.0875 a share.
The dividend will be paid on Sept. 15 to stockholders of record on Sept. 1.
Shares of Brunswick Corp. fell Tuesday on worries that boat sales this year may be weaker than previously expected.
Raymond James analyst Joseph Hovorka said his firm’s survey of Florida, Texas and North Carolina — which represent about 23 percent of the U.S. retail boat market — showed retail boat sales fell 26 percent in May, putting year-to-date sales down 18 percent, less than the industry was expecting. Get the full story »
