Dallas, TX -- (SBWIRE) -- 03/22/2013 -- Marketbuzzreport.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-
Pier 1 Imports, Inc. (NYSE:PIR) shares fell 3.08% to $22.67. The company, on Mar. 7, reported fourth-quarter comparable sales growth of 7.9%, down from 10.3% reported in the comparable period last year. Sales for the quarter improved 15.7% to $552 million from $477 million last year. Analysts expected revenues of $546.43 million. For the quarter, the company expects to report earnings in the range of $0.57 to $0.58 per share, with adjusted ranging in between $0.59 to $0.60 per share. This compares to profit of $1.04 per share and adjusted earnings of $0.48 per share reported in the prior-year quarter.
How Should Investors Trade PIR After The Recent Price movement? Find out Here
STMicroelectronics N.V. (ADR)(NYSE:STM) shares decreased 3.07% to $7.89 in the last trading session. The company, on Mar. 18, announced that Ericsson and STMicroelectronics NV have entered into an agreement on the way forward for the joint venture (JV) ST-Ericsson. Following announcements in December 2012, STMicroelectronics NV and Ericsson have been working together toward a strategic solution for the JV. As a result, several steps have been agreed upon to split up the JV. Firstly, Ericsson will take on the design, development and sales of the long-term evolution (LTE) multimode thin modem products, including 2G, 3G and 4G multimode.
Is STM a Strong Buying Opportunity After The Recent Slump? Find out Here
Morgan Stanley (NYSE:MS) shares decreased 2.99% to $22.06. The company is closing its Princeton, New Jersey, office and will move the location’s 95 employees elsewhere, according to a person briefed on the matter on Mar. 19. Morgan Stanley filed a notice with the New Jersey labor department this month alerting it of the decision. The New York- based bank is offering the staff, most of whom work in technology and data, roles in other locations, said the person, who asked not to be named because the moves haven’t been publicly announced.
Is MS a Buy After The Latest Price Action? Find Out Here
Marvell Technology Group Ltd. (NASDAQ:MRVL) stock decreased 2.97% to $10.14. The company will begin trading ex-dividend on March 12, 2013. A cash dividend payment of $0.06 per share is scheduled to be paid on April 04, 2013. Shareholders who purchased MRVL stock prior to the ex-dividend date are eligible for the cash dividend payment.
Additionally, the company, on Feb. 21, reported a fiscal fourth-quarter profit of $50 million, or 9 cents a share, on $775 million in revenue. During the same period a year ago, Marvell earned $81 million, or 13 cents a share, on revenue of $743 million. Adjusted earnings were $104 million, or 19 cents a share. Analysts had forecast Marvell to earn 13 cents a share on sales of $721 million.
Is MRVL a Buy After The Latest Price Action? Find Out Here
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