Dow Chemical’s Sales Fall Shy, Verizon Ponders Vodafone Buyout and 2 Other Hot Stocks
Dow Chemical Co. (NYSE:DOW): Overall, sales fell roughly 2 percent though earnings fell $0.07 over estimates, at $0.69. Declines were largely attributed to Energy and Feedstock divisions, and a 14 percent spike in Agricultural Sciences was not enough to offset. Revenues of $14.4 billion missed estimates by $0.48 billion, despite raw material cost declines and increases in cash flow from operations.
Verizon Wireless (NYSE:VZ): The nation’s largest wireless carrier is exploring a $100 billion bid to buy out the 45 percent stake that British firm Vodafone (NASDAQ:VOD) has in the company, and has hired a panel of banking professionals and legal advisors to assist in its decision. The company is pushing for a “tax efficient” way of performing the buyout, which has little concern of sparking similar antitrust investigations that blocked rival AT&T’s (NYSE:T) buyout of T-Mobile.
Yahoo (NASDAQ:YHOO): In a move displaying just how the company is attempting to diversify its offerings, the web giant has acquired the rights to all 38 years of Saturday Night Live. That’s right, exclusive rights to the entire archive of the part-improv, part-who-knows-what hit TV show, which Yahoo users can now access — including snippets from current seasons.
ExxonMobil (NYSE:XOM): Though earnings of $2.12 beat by $0.07, revenues of $108.8 billion missed rather hugely, by $11.03 billion. Capital and Exploration expenditures of $11.8 billion represent a 33 percent growth year-over-year, while oil equivalent production decreased 3.5 percent. However, the company did raise its dividend by 10.5 percent, which now rests at $0.63 per share. The dividend will be payed out on June 10, with an ex-dividend date of May 9.
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