Peter Schacknow, Senior Producer, CNBC Breaking News DeskThe final week of the month and the first quarter is upon us, with the Dow and S&P 500 limping to the finish line after a mostly upbeat first three months of 2012. Last week saw the biggest losses of 2012 for both, but the Dow, the S&P 500, and the Nasdaq are all finishing Q1 on the plus side, with the Nasdaq poised for its biggest quarterly percentage gain since the second quarter of 2009.
Today marks the 6 consecutive session that investors will see a key report on the housing industry: at 10am ET, the National Association of Realtors releases pending home sales for February, a measure of home sales contracts signed but not yet closed. Economists are looking for a 1.0% increase following January’s 2.0% rise. Fed chairman Ben Bernanke continues his recent busy schedule of public appearances this morning with an appearance at the NABE economic policy conference in Arlington, VA at 8am ET.
This morning’s earnings calendar is a light one, with egg producer Cal-Maine (CALM) among the few companies set to report this morning, with for-profit education company Apollo Group (APOL) on the short list of after-the-bell reports today.
Dow component Hewlett-Packard (HPQ) is a stock to watch this morning, as the company’s board authorizes at 10% increase in the quarterly dividend to 13.2 cents per share from 12 cents. The increase does not go into effect until after the previously announced dividend payout due April 4 for shareholders of record as of March 14.
We’ll watch shares of biotech company Illumina (ILMN), as Switzerland’s Roche extends its $5.7 billion cash bid for a second time. Analysts do expect Roche to eventually raise the $44.50 per share offer, but it has not yet done so, and only about 0.1% of Illumina’s outstanding shares have been tendered so far.
Yahoo (YHOO) has appointed three new members to its board, ahead of a proxy fight with major shareholder Third Point. The hedge fund has nominated four for board membership, but Yahoo has only agreed on one of those nominees, turnaround specialist Harry Wilson.
Shares of Lions Gate (LGF) will once again be on the watch list, as “The Hunger Games” debuts with $155 million in ticket sales in North America, the third highest opening and history, and the biggest for any movie that isn’t a sequel. Only last year’s “Harry Potter” finale and the Batman movie “The Dark Knight” have had bigger openings.
Amgen (AMGN) shares may benefit from news that monthly injections of an experimental Amgen drug cut cholesterol levels by up to two thirds in a clinical trial. That could make it a strong competitor to a similar drug now under development by Regeneron Pharmaceuticals (REGN).
Armstrong World Industries (AWI) could be a mover today, as the building products maker declares a special dividend of $8.55 per share. Armstrong shares had risen earlier this month after its board said it was considering such a move.
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