Stock News Of The Day (DLB, CLNE, AOL, LINE, GM)
Stocks In The News (DLB, CLNE, AOL, LINE, GM)
Dolby Laboratories, Inc. (NYSE:DLB) shares declined 3.75% to $40.06. On June 26, 2012, the company announced plans to purchase 1275 Market Street in the city’s mid-Market neighborhood from DivcoWest(R). Dolby will fully occupy the 354,000-square-foot building in one of the most thriving business communities in the world.
Clean Energy Fuels Corp. (NASDAQ:CLNE) stock gained 2.72% to $14.74 after Equities researchers at Capstone began coverage on shares of Clean Energy in a report issued yesterday. The firm set a “buy” rating on the stock. The company last released its earnings data on May 7, 2012. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimate of ($0.18) by $0.02. The company’s revenue was up 12.7% compared to the same quarter last year. Analysts expect the company to post $-0.16 EPS next quarter.
AOL, Inc. (NYSE:AOL) stock gained 3.19% to $28.18 after the company commenced a modified Dutch auction tender offer to repurchase shares of its common stock up to an aggregate purchase price of $400 million. The $400 million aggregate purchase price of shares of common stock sought in the tender offer includes the approximately $40 million remaining from the initial $250 million stock repurchase authorized in August of 2011 and brings the total amount the company intends to return to shareholders in 2012 to approximately $1.1 billion.
Linn Energy, LLC (NASDAQ:LINE) shares climbed 0.03% to $37.08 after Analysts at Ladenburg Thalmann started coverage on shares of Linn Energy in a research report issued to clients and investors today. The firm set a “buy” rating and a $42.00 price target on the stock.
The company on Monday set plans to pay $1 billion to buy Wyoming natural gas and oil fields from BP PLC as the independent energy producer bulks up with its second largest acquisition this year.
General Motors Company (NYSE:GM) shares increased 1.07% to $19.87 after Westport Innovations Inc. announced that it has entered into an additional agreement with General Motors for a second advanced technology development program. Westport and GM are developing two different combustion, controls and emissions approaches to natural gas engines, with the first cooperative technology project being announced in June 2011.