Michael Dell Wins Shareholder Bid, Lululemon’s Mixed Quarter, and 3 More Hot Stocks
Dell Inc. (NASDAQ:DELL): Michael Dell and Silver Lake have won in their efforts to take Dell private on Thursday, with their buyout proposal of $24.9 billion receiving shareholder approval. The rival bid from Carl Icahn was pulled earlier this week. Under the terms, Michael Dell now owns 75 percent of the company and will remain CEO as he mounts efforts to turn Dell around without the prying interventions of Wall Street.
Lululemon Athletica (NASDAQ:LULU): Although earnings per share of 39 cents beat estimates for the second quarter by 4 cents and revenues of $344.5 million beat by $1.8 million, shares of Lululemon are slumping as the company simultaneously reported decelerating sales and cut its outlook for 2013 revenue to $1.625 billion-$1.635 billion versus the $1.67 billion consensus. The company expects EPS to fall in a range of $1.94-$1.97 against the $1.99 consensus.
Intel Corp. (NASDAQ:INTC): Intel has officially launched its 22nm Bay Trail chips, which will be marketed under the Atom brand. Intel is promising up to two times the CPU performance over its predecessor and a threefold GPU performance boost over the current-generation Clover Trail, but without detriment to the device’s battery life. The Z3000 chips will appear in 7- to 11-inch devices that run Windows 8.1 or Android and that will cost as little as $199.
Bristol-Myers Squibb (NYSE:BMY): Bristol-Myers Squibb’s melanoma treatment Yervoy has reportedly helped patients suffering from advanced prostate cancer live 11.2 months longer on average, versus 10 months on placebo. The difference is not great enough to constitute statistical significance; the 800-patient trial was made up of individuals who had previously received chemotherapy and who had failed to benefit from testosterone-lowering drugs.
Target Corp. (NYSE:TGT): Target declared a 43 cents per share quarterly dividend, in line with its previous dividends. It has forward yield of 2.65 percent and is payable on December 10 for shareholders of record on November 20. It has an ex-dividend date of November 18.