Dreamworks Co-Founder Converts Stock and 3 Hot Stocks Demanding Attention
VASCO Data Security (NASDAQ:VDSI) sites lower-than-expected order intake in the third quarter for delivery in the third or fourth quarters as a reason to reduce the revenue guidance for the full year 2012. Third-quarter revenue is expected to be about $ 36 million.
MetLife (NYSE:MET) announced it will introduce third-party asset management services that draw on its expertise in sectors such as real estate equity, commercial mortgages and private placement debt. the new business, christened MetLife Investment Management, should add a line of fee-based income to MetLife.
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An 8K filing reveals that Dreamworks Animation (NASDAQ:DWA) co-founder David Geffen and two entities controlled by him converted all of their Class B stock in the company to Class A stock. According to the filing, “All of the shares of Class B Common Stock, which represent approximately 61% of the Company’s total voting power, are held by Jeffrey Katzenberg and entities controlled by him,” as a result of the conversion.
Australia’s new tobacco laws, which took effect this month, make it compulsory for tobacco products to carry graphic warning displays and plain packaging. Given the trend for tobacco laws to be emulated across countries, companies such as BAT (AMEX:BTI) and Philip Morris (NYSE:PM) may be affected if the legislation finds similar inspiration at home.
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