Yum! Brands, U.S. Bancorp, Pioneer Natural Shares Reach New Highs on Good News
Yum! Brands (NYSE:YUM): Yum! Brands said it is well-positioned to meet or exceed its annual target of at least 10% EPS growth in 2012. The shares closed at $64.85, up $1.66 or 2.63% on the day. They have traded in a 52-week range of $47.15 to $64.75.
U.S. Bancorp (NYSE:USB): Though officials had hoped to announce a final settlement as early as this week, a Reuters reports that a multi-state mortgage settlement is likely to be pushed back again as U.S. states continue to press specific concerns. As of Monday, many states had not yet reached a settlement, under which top U.S. banks could pay up to $25B to resolve civil government lawsuits about misconduct in servicing home loans and pursuing faulty foreclosures. The shares closed at $29.45, up $0.29 or 0.99% on the day. They have traded in a 52-week range of $20.10 to $29.42.
Pioneer Natural (NYSE:PXD): Pioneer Natural expects to deliver 2012 production growth of 23%-27% compared to 2011. The capital program for 2012 totals $2.5B, with 86% of the spending designated for drilling in the Spraberry field, the horizontal Wolfcamp Shale, the Eagle Ford Shale and the Barnett Shale Combo. Funding for the capital program includes forecasted operating cash flow of $2.2B and $0.3B of the proceeds from Pioneer’s recent equity offering. The shares closed at $108.35, up $2.61 or 2.47% on the day. They have traded in a 52-week range of $58.63 to $106.84.
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