Dover Corporation (DOV) maintained its quarterly dividend of 35 cents per share. The dividend is payable on March 15, 2013 to shareholders of record as of February 28, 2013.
Transocean (RIG) was downgraded by Deutsche Bank (DB) to sell from hold with a price target of $49 due to increasing fleet downtime. Shares are lower by about 5.3 percent.
Stocks struggled to find direction even as investors took in some economic data which showed growing strength in consumer confidence. The Thomson Reuters/University of Michigan consumer sentiment index rose to 76.3 in February, which was an improvement over the previous two months.
This seventh trading week of 2013 comes to a close with investors pondering if markets are overbought and ready for a correction. Hi.
From U.S. missile tests to alien invasions, the internet has been abuzz with conspiracy theories about what the meteor that hit Russia on Friday really was. Here’s a look at some of the kookier guesses.
Townhall Column: “America’s Dreadful Debt Legacy”
In California local school districts have become some of the worst abusers of passing on debt to future generations. Since 2007 school districts in the state have used capital appreciation bonds to spend over $7 billion to fund various construction projects. In some cases interest payments alone on the debt total almost 10 times the amount borrowed.
Santa Ana Unified School District used capital appreciation bonds to borrow $35 million to build new classrooms. The tax obligation to repay the loan will not begin until the year 2026, when taxpayers will have to repay an accumulated balance of $340 million to repay the original $35 million.
Folsom Cordova Unified School District will have to repay $630 million on a $164 million bond, and an additional $514,000 bond will cost taxpayers in the district $9.1 million.
“Poway Unified School District borrowed $105 million to “modernize school buildings”. For borrowing $105 million in 2011, taxpayers will end up paying investors more than $981 million by 2051. That’s almost $1 billion to repay just over $100 million borrowed. Elected officials, who want to buy what they can’t afford, and the public, who don’t want their taxes raised, are complicit in passing on huge debt to generations that aren’t even born yet.
In trading on Friday, precious metals shares were relative laggards, down on the day by about 2.8%. Helping drag down the group were shares of Almaden Minerals Limited (AAU), off about 9.5% and shares of Caledonia Mining (CALVF) off about 7.1% on the day.
In trading on Friday, paper & forest products shares were relative leaders, up on the day by about 1.6%. Leading the group were shares of Meadwestvaco (MWV), up about 9.6% and shares of Louisiana Pacific (LPX) up about 3.1% on the day.
While hunters stalked the elusive Burmese python through Florida’s Everglades over the past month, state and federal wildlife officials set traps for other animals menacing native wildlife in a fragile ecosystem.
Authorities have identified a man killed in an Indianola crash that injured a child and ended a high-speed chase.