Photo: AP Photo/Jin Lee
The markets remain modestly down, with close to 400 of the S&P 500 in negative territory. There are, however, a few companies breaking out of the pack.Take a look:
Amgen Inc. (AMGN): Up 4.4% — Amgen announced it was initiating a $5 billion share buy back plan, which would be financed by debt. The company will be using a dutch auction.
Cablevision Systems (CVC): Up 2.6% — The cable provider is trading up after a Barron’s article over the weekend named it as a potential takeover candidate by Time Warner or Comcast. The article also defended executive moves to make Cablevision more shareholder friendly while increasing cash flows.
PulteGroup (PHM): Up 2.4% — In a fairly upbeat note from Wells Fargo, analyst Adam Rudiger says that home-builder orders appear to have stabilised. Rudiger forecasts Pulte breaking into profitability in FY2012, after losing $2.89 a share in 2010.
Home Depot (HD): Up 2.1% — Home Depot was upgraded by RBC Capital Markets to outperform. Analyst Scot Ciccarelli also increased the target price from $38 to $42 for the home improvement retailer.