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Cato Corp. said Friday it will raise its quarterly dividend by 10% to 33 cents a share. The new dividend will be payable June 20 to shareholders of record on June 6. At Thursday’s closing price of $36.50 for the discount apparel retailer’s stock, the new annualized dividend of $1.32 a share would represent a dividend yield of 3.62%, compared with the aggregate S&P 500 dividend yield of 2.22%, according to FactSet. The stock, which was still inactive in premarket trade, has eased 0.9% year to date, while the S&P 500 has slipped 0.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Cato Corp. said Friday it will raise its quarterly dividend by 10% to 33 cents a share. The new dividend will be payable June 20 to shareholders of record on June 6. At Thursday’s closing price of $36.50 for the discount apparel retailer’s stock, the new annualized dividend of $1.32 a share would represent a dividend yield of 3.62%, compared with the aggregate S&P 500 dividend yield of 2.22%, according to FactSet. The stock, which was still inactive in premarket trade, has eased 0.9% year to date, while the S&P 500 has slipped 0.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Foot Locker Inc. reported Friday fiscal first-quarter earnings that rose to $191 million, or $1.39 a share, from $184 million, or $1.29 a share, in the same period a year ago. That matched the FactSet consensus for earnings per share of $1.39. Sales increased to $1.99 billion from $1.92 billion, just shy of the FactSet consensus of $2.00 billion, with same-store sales growth of 2.9% missing expectations of a 4.5% increase. The gross margin rate was flat at 35% of sales, while merchandise inventories increased 2.1% to $1.26 billion. The athletic shoe retailer said it expects full-year same-store sales growth in the mid-single digit percentage range, in line with the FactSet consensus of 4.9%. The stock, which slipped 0.1% in premarket trade, has dropped 10% year to date through Thursday, while the SPDR S&P Retail ETF has lost 5.9% and the S&P 500 has eased 0.2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Debris belonging to the missing EgyptAir jet has been found 190 miles north of Alexandria, Egypt, a spokesman for the Egyptian military said on Friday, according to media reports. Officials said in a statement that “remains of wreckage and belongings” were located early Friday, according to Bloomberg. Late Thursday, Egypt said the wreckage had been found, only to later backtrack. French Foreign Minister Jean-Marc Ayrault said Friday that there is still no clue as to why the airplane went down in the Mediterranean, though some officials are leaning towards the terrorism theory. Flight MS804 crashed in the early hours of Thursday en route to Cairo from Paris, with 66 passengers and crew on board.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Debris belonging to the missing EgyptAir jet has been found 190 miles north of Alexandria, Egypt, a spokesman for the Egyptian military said on Friday, according to media reports. Officials said in a statement that “remains of wreckage and belongings” were located early Friday, according to Bloomberg. Late Thursday, Egypt said the wreckage had been found, only to later backtrack. French Foreign Minister Jean-Marc Ayrault said Friday that there is still no clue as to why the airplane went down in the Mediterranean, though some officials are leaning towards the terrorism theory. Flight MS804 crashed in the early hours of Thursday en route to Cairo from Paris, with 66 passengers and crew.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Bookmakers Ladbrokes PLC and Gala Coral Group Ltd. may have to sell around 350 to 400 betting shops for their merger to be conditionally approved, the U.K. Competition and Markets Authority said in a statement Friday. The regulator said its investigation had found “659 local areas where it provisionally found that the merger may be expected to result in a substantial loss of competition.” The two bookmakers agreed last year to merge in a deal worth about 2.3 billion pounds ($3.35 billion). Ladbrokes has 2,154 betting offices in the U.K., while Coral runs 1,850, making them the second- and third-biggest betting store operators in the country. The CMA has asked for responses to these provisional findings, including whether requiring the bookmakers to sell off stores would be a suitable remedy. It said, “the CMA is minded to require any divestiture, were that to be a suitable remedy, to be substantially completed before the merger can go ahead.” Ladbrokes shares jumped 10% after the CMA news.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Tesla Motors Inc. has raised $1.46 billion in fresh capital after the sale of 6.8 million in new common stock, according to media reports citing International Financing Review. The shares were priced at $215 each by lead managers Goldman Sachs Group , Morgan Stanley , Citigroup Inc. , Deutsche Bank AG and Bank of America Merrill Lynch . Tesla announced earlier this week that it would sell around $2 billion in common stock in order to fund Model 3 production. The electric-car maker said it would offer $1.4 billion in shares, with the remainder to be sold by Chief Executive Elon Musk. Last August, Tesla priced shares at $242 each in an offering August.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Tesla Motors Inc. has raised $1.46 billion in fresh capital after the sale of 6.8 million in new common stock, according to media reports citing International Financing Review. The shares were priced at $215 each by lead managers Goldman Sachs Group , Morgan Stanley , Citigroup Inc. , Deutsche Bank AG and Bank of America Merrill Lynch . Tesla announced earlier this week that it would sell around $2 billion in common stock in order to fund Model 3 production. The electric-car maker said it would offer $1.4 billion in shares, with the remainder to be sold by Chief Executive Elon Musk. Last August, Tesla priced shares at $242 each in an offering August.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News