Apple May Boost Dividend by 56% According to Analysts. Fed Agrees To Continue Quantitative Easing.
NEW YORK, March 19, 2013 /PRNewswire/ --
According to analysts who were surveyed by Bloomberg, Apple Inc. could be boosting its dividend by more than half. An average estimate from six analysts is that Apple will most likely lift its quarterly dividend to $4.14 a share. The Dividend predictions from the analysts surveyed range from $3.31 to $5.30 a share. At $4.14 a share, it would be an annual payout of $15.7 billion. Shares of Apple closed up 2.72% on Monday, at $455.72.
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Incyte Corporation (Nasdaq: INCY) - Shares of INCY sank as low as $21.61 on Monday. The stock closed down 4.23%, making it one of the biggest decliners on the Nasdaq composite yesterday. This was the biggest intra-day drop that Incyte Corporation has seen in almost eight months. The drop came after a patient on the Company's drug Jakafi (used for bone marrow disease) developed a viral infection. Trading volume yesterday was significantly higher than average at 8,912,920 shares traded.
J. C. Penney Company, Inc. (NYSE: JCP) - JCP was one of the most active stocks on the NYSE yesterday. Trading volume on Monday soared to more than twice than the stock's average. The Company closed at $16.44 with gains of 6.20%. In intra-trading, J. C. Penney hit as high as $17.17. This is the most the stock has risen in almost a month. The big move came after an analyst at ISI Group said the retailer could turn its top 300 stores into a real estate investment trust-like entity. A REIT could be valued at about $40 a share, with the remaining J.C. Penney business worth about $6 a share, said Omar Saad, an analyst at ISI Group.
BlackBerry (Nasdaq: BBRY) - BlackBerry CEO Thorsten Heins called Apple's underlying operating system outdated in an interview with an Australian newspaper on Monday. In an interview with the Australian Financial Review, Heins highlights the "fantastic job" Apple did in designing the iPhone and other products, but is quoted as saying, "The user interface on the iPhone, with all due respect for what this invention was all about is now five years old." BlackBerry shares were little changed on Monday, closing in the green up a modest 0.20%, at $15.02.
Glu Mobile, Inc. (Nasdaq: GLUU) - One of the biggest advancers on the Nasdaq yesterday was Glu Mobile. The stock closed up 7.53% at $3.5915. The move came after Northland Capital Markets analyst Darren Aftahi raised his rating on the mobile-gaming company from "market perform" to "outperform". Aftahi said that based on the games Glu Mobile has released this quarter, the company "has substantially improved its hit rate for new new games," and there is evidence Glu Mobile is seeing better-than-expected sales from games for smartphones. Aftahi also raised his price target on Glu Mobile's shares to $4.50. Volume traded on Monday was about ten times higher than usual.
Ambow Education Holding Ltd. (NYSE: AMBO) - AMBO shares saw a steep drop on Monday, falling as low as $1.19 in intra-day trading. The Company announced that its Board of Directors received on March 15, 2013 a non-binding "going private" proposal at $1.46 in cash for each ADS and $0.73 in cash for each Class A and Class B ordinary share. The stock closed down 16.13% at $1.30. The Company provides educational and career enhancement services in the People's Republic of China.
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