Ruby Tuesday ANTICIPATES 2% Sales Increase and 4 Stocks Hitting 52-Week Lows

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Ruby Tuesday (NYSE:RT) predicts FY13 same-restaurant sales for company-owned restaurants in the range of flat to a 2.0 percent increase for the year. The shares closed at $6.17, down $0.13 or 2.06% on the day. They have traded in a 52-week range of $6.30 to $9.53.

Banco Santander (NYSE:SAN): A short-term bank bailout plan by Spain has been backed by The European Commission, reports Reuters. The bailout plan should keep Spanish banks solvent until E.U. funds reach the financial system of the country, the publication elaborated. This process could take as long as three to four months, it added. The shares closed at $5.04, up $0.15 or 3.07% on the day. They have traded in a 52-week range of $4.89 to $10.45.

Don’t Miss: Google Puts This Price On Motorola Patents.

Sony Corp Ord (NYSE:SNE): Terumo has offered to invest Y50 billion in Olympus (OCPNY) which could possibly be followed by a merger under a holding company in a last-ditch effort to upend Sony’s (NYSE:SNE) bid for an alliance, reports The Nikkei. Meanwhile, Sony and Olympus negotiations continue, with many scenarios being discussed, the report stated. The shares closed at $11.26, down $0.39 or 3.35% on the day. They have traded in a 52-week range of $11.54 to $26.47.

Transalta Corp. (NYSE:TAC) announced that its subsidiary TransAlta Centralia Generation LLC entered into an 11-year agreement under which it will provide electricity from its Centralia, Washington power plant to Puget Sound Energy, or PSE. Contract details in relation to pricing will remain confidential for competitive reasons. The agreement is subject to approval by the Washington Utilities and Transportation Commission, and in addition to entering into the 11-year agreement with PSE, TransAlta restructured its plant operations and has taken other steps to improve the competitiveness of Centralia’s and reduce the facility’s overall operating and capital costs. This contract significantly decreases TransAlta’s merchant exposure in the Pacific Northwest. This new contract along with existing hedges will result in approximately 35 percent of Centralia’s total available production being contracted from 2014 until the end of 2020, with 2013 being around 45 percent contracted. On the same basis, nearly 65 percent of the total available production will be contracted from 2021 through 2025. Centralia’s 670 megawatt, or MW, Unit 1 should be to be shut down at 2020′s end and the 670 MW Unit 2 at the 2025′e end beneath the terms of Washington State’s TransAlta Energy Transition Law. The law was a successful collaboration among policymakers, environmentalists, labor leaders and TransAlta to minimize energy production emissions without unduly disrupting the local economy. Under this agreement, PSE will purchase 180 MW of firm, base-load power from TransAlta beginning in December 2014. In December 2015 the contract increases to 280 MW, and from December 2016 to December 2024, the contract is for 380 MW of coal transition power. In the agreement’s last year the contracted volume is 300 MW. The shares closed at $15.35, down $0.51 or 3.22% on the day. They have traded in a 52-week range of $15.74 to $23.09.

Telefonica Sa (NYSE:TEF) stated that its board made a decision that beneath the criteria of prudent administration it is in the stakeholders’ best interest that the 2012 dividend and share buyback program corresponding be cancelled as a one-time exceptional measure. The company claims that it will continue its shareholder remuneration in 2013 by paying a 0.75 euros per share dividend. The company plans to pay in two tranches. The first payment will be in Q4 of 2013, and a second one will be in Q2 of 2014. Also, the board made a decision to apply a 20 percent reduction on their compensation. With respect to the Executives, including the Chairman, the remaining Executive Directors and the Senior Executives, there will also be a reduction of nearly 30 percent of their total compensation. The company stated, “In the current extremely challenging economic and financial environment, exogenous factors are creating severe instability and are exacerbating potential financial risks. Since those unprecedented factors are beyond Telefnica’s control, it is crucial that the Company takes definitive steps to effectively defuse potential risks.” The shares closed at $10.25, down $0.21 or 2.01% on the day. They have traded in a 52-week range of $10.40 to $22.84.

Don’t Miss: Tim Cook to Carriers: iPhone Subsidies Make Sense!

Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business