Jamba COO and Venus Williams to HOST VIPs and 3 Hot Stocks Trading Today
The Shaw Group Inc. (NYSE:SHAW) currently seeks to redeploy its cash via possible merger and acquisition opportunities, technology acquisitions and/or returning cash to shareholders regularly. If the company does not chase another opportunity, it plans to further its share repurchase program. Shaw’s board of directors authorized a purchase of as much as $500M in outstanding shares of Shaw’s common stock, including $326M staying beneath previous authorization. Shares of The Shaw Group Inc. are trading 5.78% lower today.
Applied Materials, Inc. (NASDAQ:AMAT) lowered its FY12 business outlook this morning due to weak near-term demand in its semiconductor equipment business, mainly foundry customers. In FY12, the company predicts that net sales will be lower than its previous outlook of $9.1B-$9.5B, with non-GAAP earnings per share below the previous range of 85c-95c. the company anticipates Q3 financial results to stay inside the outlook ranges announced during its May 17, Q2 earnings call. Q3 net will most likely be in the lower half of the company’s previous 21c-29c outlook, compared to the 25c consensus. Also, the company has revised the 2012 industry forecast regarding wafer fave equipment spending, lowering it to $30B-$33B from $32B-$35B, in-line with market changes. The news causes Applied Materials shares to fall 5.5%, 61c, to $10.44 pre-market. Shares of Applied Materials, Inc. are trading 1.50% lower today.
James River Coal Company (NASDAQ:JRCC) has fallen 18% premarket after its 19% decline yesterday. Now, focus is directed to what could be the next troubled coal company after Patriot’s recent bankruptcy filing. Although James River is keeping a credit rating near that of its coal competitors, its bonds are currently trading at a much more distressed level. Shares of James River Coal Company are trading 19.16% lower today.
Jamba, Inc. (NASDAQ:JMBA) Company President of Stores and COO Bruce Schroder and Venus Williams will host local and national VIPs at the Dupont Circle store located in Washington, DC. With Senior Obama Administration officials’ assistance, the grand opening events will bring attention to Jamba’s U.S. Labor Department’s Summer Jobs+ Initiatives, commitment to the promotion of healthy and active lifestyles, and Jamba’s anticipated entry to the DC market. Venus Williams will be available to sign autographs and take photography with customers on July 10. Discount cards will be handed out and customers will be greeted by Jamba mascot Bananaman and other team members. Shares of Jamba, Inc. are trading 2.63% lower today.
Don’t Miss: Is RECORD Growth Slowing for GM and Ford?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.