| The KUIK Morning Market Report for Friday, November 16: | |||||||
| Markets are off slightly this morning. | |||||||
| Index | Direction | Change | Units | Last | Time | Change | |
| Dow | Down | (12) | points | 12,529 | 10:48 AM | ||
| S&P500 | Up | 0.2% | percent | 1,356 | 2.99 | points | |
| Nasdaq Composite | Up | 0.4% | percent | 2,847 | 10.18 | points | |
| 30 Year Treasury | Up | 0 | Basis Points | 2.73 | Annual Yield | ||
| Hostess Brands, the maker of Wonder bread and Twinkies, said it will fire more than 18,000 workers and liquidate after a strike crippled operations. Union members “crippled the company’s ability to produce and deliver products at multiple facilities,” and “bakery operations have been suspended at all plants,” the company said in the statement. Hostess closed three of its 36 plants permanently Nov. 12, blaming the strike. The company said it determined last night that not enough employees had returned to work to restore normal operations. The wind-down will close the remaining 33 bakeries and 565 distribution centers. | |||||||
| The Wall Street Journal reports that the White House is discussing a plan to replace the sequester which is large cuts in defense spending with a smaller package of spending cuts and tax increases. The idea would be to push larger deficit-reduction talks into the middle of 2013. | |||||||
| Good news for Nike shareholders. The board of Nike yestereday approved a 2-for-1 stock split on both its Class A and Class B common shares. It’s payable in the form of a 100% stock dividend Dec. 24 to stockholders of record as of Dec. 10. The board also declared a post-split quarterly cash dividend of 21 cents a share, thus marking the 11th consecutive year in which Nike has hiked its dividend. The new dividend, payable Dec. 26 to holders of record also as of Dec. 10, equates to a 17% increase. | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for AM 1360 KUIK. | |||||||
| http://www.bloomberg.com/news/2012-11-16/twinkie-maker-hostess-to-shut-down-after-strike.html | |||||||
| http://www.marketwatch.com/story/white-house-in-talks-to-replace-sequester-wsj-2012-11-16-8912555 | |||||||
| http://www.marketwatch.com/story/stocks-to-watch-friday-nike-schiff-starbucks-2012-11-16 | |||||||
| For today’s Morning Market Report click to listen-> | https://beaconrwa.com/audio/Morning-Market-Report.mp3 | ||||||
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