Finish Line Sales Up 8% and 4 Stocks Raising Eyebrows to Start the Day
In a letter to Parliament regarding the LIBOR manipulation, Barclays (NYSE:BCS) CEO Bob Diamond refuses to resign, claiming the manipulation went no higher than “immediate desk supervisors …” and that “when the trader conduct was first discovered … steps were immediately taken to stop it.”
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Athletic shoes and gear maker Finish Line’s (NASDAQ:FINL) results: Same store sales up 8 percent y-on-y; online sales up 28.1 percent y-on-y; SGA expenses higher by one percent to 26.6 percent. Forecasts same-store sales to grow 5 – 6 percent in 2013 with EPS growing 6 – 7 percent.
Meats pure-play Hillshire Brands (NYSE:HSH) was under analysts’ lens as it listed after spinning off from Sarah Lee (NYSE:SLE) and closed up 2.2 percent on the first day of trading – JPMorgan ranked the company Overweight and DA Davidson rated it Neutral with a PT of $28.
Hedge fund titan and shareholder activist Bill Ackman, the founder of Pershing Square Capital Management, won the proxy fight at Canadian Pacific (NYSE:CP) last month, resulting in “railway legend” Hunter Harrison being named president and CEO of the railroad, with the obvious mandate to get the under-performing company back on the rails, though his aggressive management style at Canadian National was known to offend customers and regulators.
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