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BUSINESS
March 20, 2009 | Associated Press
Citigroup Inc. is considering a reverse stock split -- a move that wouldn't actually increase value for shareholders but would bump up the share price. The split is not a done deal. Citi said Thursday it would file a proxy to regulators to authorize its board of directors to execute a reverse stock split. But if the company decides to go through with the split, Citi's pummeled stock price could get a lift.
ARTICLES BY DATE
BUSINESS
April 24, 2014 | By Chris O'Brien
Big earnings. Big stock buyback. Big stock bump. On Thursday, investors cheered Apple's performance by sending its stock up by as much as 8.5% in early trading.  The stock climbed to $ 569.50 at one point early Thursday, up from $524.75 the previous day.  Riding a wave of strong iPhone sales, Apple on Wednesday reported fiscal second-quarter revenue of $45.6 billion, well above analysts' consensus of $43.6 billion, and up from the...
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BUSINESS
December 17, 1992
Fidelity National Financial Inc. on Wednesday declared a three-for-two stock split effective Jan. 18, with shares to be distributed Feb. 4. The title insurance underwriter, based in Irvine, also said it will pay a quarterly dividend of 8 cents, to be paid after the split. In a statement, Fidelity President William P. Foley II said the split "reflects our ongoing confidence in Fidelity's performance. Increasing our outstanding shares should enhance the stock's marketability."
BUSINESS
April 23, 2014 | By Chris O'Brien
After weeks of anxiety among investors over Apple Inc.'s fiscal second-quarter results, the company delivered a one-two punch of good news Wednesday that sent its stock soaring. First, Apple posted revenue for the three months ending in March that beat both Wall Street's projections and its own guidance. And second, the company said it was expanding its record stock buyback and dividend plan to $130 billion from $105 billion. "We are announcing a significant increase to our capital return program," Apple Chief Executive Tim Cook said in a statement.
BUSINESS
January 8, 2000 | Bloomberg News
Ants Software.com postponed a 2-for-1 stock split scheduled for next week, sending its shares down 19%. Chairman Fred Pettit said the company changed its position on the planned move, announced Dec. 22, because shareholders haven't approved the split or authorized the necessary increase in outstanding shares. Shares in Ants, which says its product can speed computer software, fell $4 to close at $17.25 in over-the-counter trading.
BUSINESS
October 11, 1987
Quiksilver, a Newport Beach sportswear and beachwear designer, said its directors have declared a three-for-two stock split to make the stock more reasonably priced for investors.
CALIFORNIA | LOCAL
March 7, 2000
MRV Communications Inc., Chatsworth, announced a two-for-one stock split of its outstanding common stock and an increase in its authorized common stock from 80 million to 160 million shares, subject to stockholder approval. After the stock split, the number of number of common shares outstanding will be approximately 57.1 million, the company said. MRV Communications develops fiber optic technology and Internet infrastructure.
BUSINESS
April 24, 1990
Lincoln Bancorp, the Encino holding company for Lincoln National Bank, announced that its board of directors approved a 6-for-5 stock split payable on May 15 to shareholders of record May 1. After the split, Lincoln will have about 4.05 million shares of common stock outstanding.
BUSINESS
March 5, 1996 | JACK SEARLES
California Amplifier, a Camarillo maker of products for television broadcasters, has announced a 2-for-1 stock split. The split will be made March 22 to stockholders of record last Friday. Chairman Ira Coron said that by doubling the number of outstanding shares to 11.5 million, directors hope to improve trading liquidity and enhance stockholder value.
BUSINESS
September 28, 1993
Chad Therapeutics Inc., a Chatsworth maker of oxygen-conserving devices used by pulmonary patients, declared a two-for-one stock split. The split is effective for shareholders of record Oct. 1. The additional shares will be distributed Oct. 15. Chad said the split increases its total shares outstanding to 6,174,416.
BUSINESS
January 30, 2014 | By Jessica Guynn
SAN FRANCISCO -- Thanks to a boost in advertising sales, Google's fourth-quarter revenue surpassed Wall Street expectations, but its bottom line fell short. Google reported earnings, excluding certain items, of $12.01 a share on revenue of $16.86 billion. Analysts had expected earnings of $12.20 a share on revenue of $16.75 billion. The results came one day after Google said it would sell its Motorola Mobility business to Lenovo for $2.9 billion. And good thing, too. Motorola lost $384 million in the quarter.
BUSINESS
April 12, 2012 | By Walter Hamilton
The stock market enjoyed its best day in more than a month Thursday as the correction that many professional investors had all but penciled into their calendars didn't materialize. The Dow Jones industrial average jumped 181.04 points, or 1.4%, to 12,986.43. It was the blue-chip index's best gain since a 218-point rise March 13. In the last two days, the Dow has reclaimed more than half of its 4.1% loss over the preceding five days. Investors latched on to encouraging comments from the Federal Reserve about interest rates and a rumor that first-quarter economic growth in China will exceed estimates.
BUSINESS
April 12, 2012 | By Andrea Chang
Google Inc. reported first-quarter revenue of $10.65 billion, a 24% rise over the same quarter a year ago, and said it would introduce a new class of stock in what it called a “2-for-1 stock split.” For the three months ended March 31, profit totaled $2.89 billion, or $8.75 a share, compared with $1.8 billion, or $5.51; that was better than Wall Street expected. The company said its operating income was $3.39 billion, or 32% of revenue. Larry Page, chief executive of the Mountain View, Calif.-based company, said Google “saw tremendous momentum from the big bets we've made in products like Android, Chrome and YouTube.” “We are still at the very early stages of what technology can do to improve people's lives and we have enormous opportunities ahead.” The company also announced that its board of directors had unanimously approved a stock dividend proposal intended “to preserve the corporate structure that has allowed Google to remain focused on the long term.” The stock split will introduce a new class of nonvoting capital stock, according to Bloomberg . The shares will be distributed through a stock dividend to existing shareholders.
BUSINESS
March 21, 2011 | Reuters
Citigroup Inc. will resume paying a nominal dividend after it uses a reverse stock split to shrink the number of shares outstanding, taking a small step in its recovery from the financial crisis. Citigroup will pay a quarterly dividend of a penny a share, its first payout since 2009. But the bank's shares dropped Monday, in part because it remains behind rivals like JPMorgan Chase & Co., and Wells Fargo & Co. Those banks Friday received regulatory authorization to increase their dividends as much as 20 cents a share and buy back stock.
BUSINESS
May 22, 2009 | Brady Dennis, Dennis writes for the Washington Post.
American International Group Inc. announced Thursday that Edward M. Liddy was stepping down as chairman and chief executive of the troubled insurance giant but that he planned to remain until the company's board of directors names his successor. Liddy, 63, agreed to take the reins of the troubled insurance giant after the federal government bailed it out in September. He previously had retired as a chairman of Allstate and has served on the board of Goldman Sachs.
OPINION
September 9, 2007 | Ezra Klein, Ezra Klein is a staff writer at the American Prospect. He blogs at EzraKlein.com.
People say that economics is complicated. But it sure looks simple to me. After all, what's so complicated about a sector that can be represented in a single arrow? Up for good, down for bad. And if that weren't easy enough, we've got green for good, and red for bad. It's child's play. It even looks like a toy I played with as a child. The green arrow made a cow moo, as I remember. Looks, however, can be deceiving.
BUSINESS
November 8, 2006 | From Times Wire Services
Wall Street extended its November rally Tuesday, carrying the Dow Jones industrials to a new trading high as investors anticipated a business-friendly outcome in the mid-term elections and bought stocks across the market. Boeing led the blue chips after winning a $2.3-billion order from FedEx. Strong quarterly reports from both Toyota Motor and Emerson Electric also lent strength to the market.
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