OCZ Technology CUTS Revenue Forecast and 4 Hot Stocks in Action
Office Depot Inc (NYSE:ODP): Because the overall retail sector turned lower on Wednesday, a number of retail stocks bucked the trend. Office Depot Inc. saw a 5 percent increase. Shares of Office Depot Inc are trading 2.08% lower today.
American Realty Capital Trust Inc (NASDAQ:ARCT) along with Realty Income (NYSE:O) announced that they have signed a definitive agreement beneath which Realty Income is to acquire all of the outstanding shares of American Realty Capital Trust in a transaction worth about $2.95 billion. The board of directors of both companies unanimously approved the agreement, and after a shareholder vote by both companies, the transaction should close during Q4 or early in 1Q13. The acquisition is to be financed by Realty Income directly issuing $1.9 billion of its common stock to American Realty Capital Trust shareholders, the assumption of about $526 million of debt, and the immediate repayment of nearly $574 million of outstanding debt and transaction expenses. Beneath the terms of the agreement, American Realty Capital Trust shareholders are to receive a fixed exchange ratio of 0.2874 Realty Income shares for each share of American Realty Capital Trust common stock that they own. Based on Realty Income’s closing stock price of $42.48 as of September 5, 2012, this consideration would be equivalent to $12.21 per share. Shares of American Realty Capital Trust Inc are trading 2.30% higher today.
OCZ Technology Group Inc. (NASDAQ:OCZ) lowered its fiscal Q2 revenue forecast, pointing to constraints in the supply of NAND flash memory, which is used in solid-state drives. Shares saw a drop of 24 percent to $4.05 premaurket. Shares of OCZ Technology Group Inc. are trading 17.35% lower today.
HollyFrontier Corp (NYSE:HFC): The annualized dividend that was paid by HollyFrontier Corp. is $0.60 per share, currently paid in quarterly installments, and its newest dividend ex-date was on 09/06/2012. Shares of HollyFrontier Corp are trading 2.23% higher today.
VeriFone Systems Inc (NYSE:PAY) fiscal Q3 income increased 43 percent as the electronic-payments company’s revenue strengthened, led by its services business. However, shares fell 11 percent to $31.50 premarket following the company’s predicted weak Q4 revenue. Shares of VeriFone Systems Inc are trading 11.64% lower today.
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