Lowe’s BACKS AWAY from Rona Proposal and 4 Morning Hot Stocks Trading Today

Quarterly EPS at LDK Solar (NYSE:LDK) $2.00 is off estimates by $ 0.57. Revenue, too, is short of expectations by $ 2 million at $ 235.4 million.

A retrospective tax amendment by the Indian government set up a $ 2.2 billion liability for Vodafone (NASDAQ:VOD) which the latter was protesting. The company may now make a provision to cover the potential charge, according to CFO Andy Halford.

Don’t Miss: Why is Kraft Getting KICKED Off the Dow?

The Treasury Department is not about to be rushed into disposing of its stake in General Motors (NYSE:GM) in spite of the latter’s proposal to the purchase of 200 million shares out of the 500 million shares owned by the Treasury with a public offer for sale of the balance 300 million shares. Obviously, the Treasury would like to see higher prices for its holdings.

Activist investor starboard Value LP announces it is the largest shareholder in  Office Depot (NYSE:ODP) having accumulated a 13.3% stake. Starboard has written to the company suggesting it improved profit margins by changing to smaller stores.

Home improvement chain Lowe’s (NYSE:LOW) backs away from its proposal to acquire Canadian stores chain Rona for C$14.50 per share, after Rona, the Quebec government and others objected to the U.S. company’s proposal.

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