Exelon to Slash Dividend and 3 Hot Stocks to Follow
Google Inc. (NASDAQ:GOOG): Current price $768.58
According to a federal securities filing, Google Inc. intends to sue the IRS over a tax audit. The company said that they are appealing an audit related to 2003 and 2004, but on one undescribed issue, they plan to “litigate in court.”
The New York Times Company (NYSE:NYT): Current price $9.45
The New York Times Company saw their first quarter total circulation revenues up in the mid-single digits because they expect to benefit from their digital subscription initiatives as well as from the print circulation price increase that was implemented during the first quarter. They also believe that their first quarter operating costs will decrease to the low to mid single digits, largely because they cycled against approximately $7 million in accelerated depreciation in that quarter.
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Exelon Corp. (NYSE:EXC): Current price $31.75
Exelon Corp. said that they will lower their dividend by more than 40% in order to maintain an investment grade rating and free up money to “invest in growth.” Beginning in the second quarter, Exelon’s dividend will drop to $1.24 per share on an annualized basis from $2.10 per share. The company maintained the $2.10 dividend among the highest of United States utilities since late 2008.
Macy’s, Inc. (NYSE:M): Current price $39.98
Macy’s, Inc. is planning to make changes to their retirement plans to better manage rising costs.
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