Alliant Techsystems Inc. (ATK) : The largest supplier of rifle rounds to the U.S. military may be attractive to investors looking for a bargain among defense-related companies, Barron’s reported in its “The Trader” column. The Arlington, Virginia- based company is down 49 percent from its all-time high in 2007 on military budget cut concerns.
American Eagle Outfitters Inc. (AEO) : The teen-apparel chain announced Chief Executive Officer James O’Donnell will resign from the teen retailer. The Pittsburgh-based company named Jay Schottenstein executive chairman.
General Motors Co. (GM) : The National Highway Traffic Safety Administration closed its battery safety investigation of the automaker’s Chevy Volts, saying it doesn’t believe they or other electric vehicles pose a greater risk of fire than gasoline-powered vehicles.
J.C. Penney Co. (JCP) : The Plano, Texas-based department store chain may be expensive after investors bought shares, betting new Chief Executive Officer Ron Johnson, who took over in November, will improve its profitability, Barron’s reported, without citing anyone.
Kraton Performance Polymers Inc. (KRA) : The Houston- based maker of polymers used in adhesives and road surfaces may rise as it improves earnings by scrapping unprofitable products and raising prices for the rest, Barron’s reported.
Legacy Reserves LP (LGCY) : The Midland, Texas-based oil company boosted its quarterly dividend to 55 cents a share from 54.5 cents.
Pep Boys - Manny, Moe & Jack (PBY US): The auto-parts retailer may rise 10 percent or more this year as car owners repair their aging vehicles, boosting the company’s revenue, Barron’s reported in its “The Trader” column.
Quest Diagnostics Inc. (DGX) (DGX US): The Food and Drug Administration authorized the biggest U.S. operator of medical laboratories to offer a new test for infection risk in multiple sclerosis patients taking Elan Corp. (ELN ID) and Biogen Idec Inc. (BIIB)’s Tysabri drug.
Separately, Elan and Biogen Idec won U.S. clearance to modify the label of Tysabri with new safety information that may double the treatment’s worldwide sales.
Thor Industries Inc. (THO) : The recreational-vehicle maker agreed to repurchase 1 million shares at $28.50 each in a private transaction from the estate of Wade F.B. Thompson, co- founder and former chief executive officer of the company, according to a statement distributed by PR Newswire on Jan. 20.
To contact the reporter on this story: Inyoung Hwang in New York at ihwang7@bloomberg.net; Alex Sherman in New York at 8278 or asherman6@bloomberg.net.
To contact the editor responsible for this story: Nick Baker at nbaker7@bloomberg.net.
http://www.bloomberg.com/news/2012-01-22/alliant-j-c-penney-kraton-pep-boys-u-s-equity-preview.html
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