We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Acuity Brands Inc | NYSE:AYI | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 324.91 | 0 | 00:00:00 |
Bernard Madoff faces up to 150 years in prison at his sentencing Monday for operating a decades-long Ponzi scheme that cost investors billions of dollars.
The national unemployment rate and number of jobs lost in June, to be released Thursday, both are expected to rise from May. Meanwhile, auto makers are seen continuing their string of U.S. sales declines when they release June figures Wednesday.
Markets will have a short week, with some bond markets closing early Thursday and markets, banks, government offices and businesses shut Friday for Independence Day.
Madoff Asks For 12-Year Prison Term
Bernard Madoff, who pleaded guilty earlier this year to 11 criminal counts related to his Ponzi scheme, has asked a federal judge in New York to sentence him to as little as 12 years in prison. The 71-year-old is facing up to 150 years under federal sentencing guidelines.
The court-appointed trustee for Madoff's firm, Bernard L. Madoff Investment Securities LLC, has identified about 1,341 accountholders at the firm who had estimated losses of more than $13 billion as of Dec. 11, the day he was arrested. Madoff claimed to have nearly $65 billion in his firm's account at the end of November.
June Jobless Rate Seen Reaching 9.6%
The national unemployment rate is expected to rise to 9.6% in June, with the loss of 370,000 jobs during the month. In May, the jobless rate jumped to 9.4% from 8.9% a month earlier as more people sought employment. However, the May payroll figure showed the number of jobs lost shrank to 345,000, much smaller than losses for the four previous months.
25% Drop Likely In June U.S. Auto Sales
Auto makers are slated to release June sales figures for the U.S. on Wednesday. Early indications are for signs of improvement, but the numbers will remain far below those from a year earlier. Edmunds.com predicted total June sales of 887,000 units, a 25% drop from a year earlier but only 3.9% less than the May total. Honda Motor Co. (HMC) is likely to see the biggest decline, 31%, followed by Chrysler Group LLC, Toyota Motor Corp. (TM) and General Motors Corp. (GMGMQ), all 29%. Ford Motor Co.'s (F) sales are seen falling 16%. J.D. Power & Associates expects retail sales for June at about 789,000 units, down 9% from a year earlier but up 14% from May. Fleet sales also fell from May, J.D. Power said.
Bankruptcy Court To Rule On GM Asset Sale
General Motors Corp. (GMGMQ) will ask the bankruptcy court to approve the sale of its assets at a hearing Tuesday. In papers filed this week, a committee representing GM's unsecured creditors said it is satisfied there are no viable alternatives to restructure the ailing auto maker other than the company's proposed bankruptcy sale, but it is asking the court to require GM to make some changes to the sale proposal.
Lear Could File Bankruptcy Next Week
Lear Corp. (LEA), the world's second-largest auto-seat maker, is preparing to file for bankruptcy as soon as next week, according to people familiar with the matter. The company has been trying to negotiate an out-of-court deal with lenders, but lawyers representing the parts maker are "prepared" to put the company in bankruptcy court, one of these people said. Lear would become the eighth major supplier to file for Chapter 11 since 2005.
H&R Block, Sealy Report Results
H&R Block Inc. (HRB), Sealy Corp. (ZZ) and General Mills Inc. (GIS) are among the few companies posting quarterly results next week. H&R Block, the U.S.'s largest tax preparer, is projected to post results slightly under year-ago levels, according to analysts polled by Thomson Reuters. The results, to be issued Monday, include the bulk of the company's tax services revenue due to the April 15 tax deadline.
Sealy, due a day later, is expected to post a double-digit decline in earnings and revenue, although the mattress maker last week projected earnings above analysts' expectations. The company has been struggling with decreased mattress demand and lost distribution as furniture stores closed in recent years.
General Mills, meanwhile, boosted its fiscal-year earnings target earlier this month for the fourth time but sees revenue growth moderating in the coming year. The packaged-foods company is expected to report earnings and revenue growth on Wednesday for its fiscal fourth quarter.
Other companies reporting results are for-profit educator Apollo Group Inc. (APOL) on Monday, wine maker Constellation Brands Inc. (STZB) on Wednesday and light-fixture maker Acuity Brands Inc. (AYI) on Thursday.
Consumer Confidence Expected To Rise In June
The major economic reports next week include consumer confidence, the Chicago PMI and the Institute for Supply Management, all for the month of June.
On Tuesday, the consumer confidence report is expected to show moderate growth from May. The projected increase comes after consumer confidence for May jumped to 54.9 from 40.8 in April, putting the index at its highest level since September. The Chicago PMI manufacturing survey, meanwhile, is expected to rebound in June after contracting in May, when new orders and backlog fell.
For the ISM index Wednesday, consensus expects another improvement to 44% after May's results came in at 42.8% from 40.1% in April, above estimates at the time. Encouraging growth news was seen in the new orders component in May, which rose for the first time since November 2007, according to the institute.
Among appearances by Federal Reserve officials: On Tuesday, St. Louis President James Bullard in Philadelphia, Kansas City Federal President Thomas Hoenig in New York and San Francisco President Janet Yellen in San Francisco.
July 4 Travel Pegged At 3-Year Low
The number of Americans traveling 50 miles or more during the July 4 holiday weekend will drop 1.9% from a year ago to a three-year low of 37.1 million travelers because of the weak economy, according to the AAA auto club and leisure travel organization. Travel by auto, which will account for 88% of July 4 holiday trips, is expected to decline by 2.6% from a year ago. The price of retail regular gasoline has risen 9% since the late-May Memorial Day holiday weekend but is down about 35% from a year earlier. The July 4 holiday is typically the busiest time for auto travel because nearly all school-aged children are out of school, meaning more parents are likely to take family vacations at this time.
Markets Closed Friday For Holiday
All markets as well as government offices, banks and some businesses in the U.S. will be closed Friday in observance of Independence Day. When any holiday that is observed by the stock market or stock exchange falls on a Saturday, the market is closed on the proceeding Friday.
-By John Kell and Kathy Shwiff, Dow Jones Newswires; 201-938-5285; john.kell@dowjones.com
(Jeff Bennett and other Dow Jones Newswires staff contributed to this report.)
1 Year Acuity Brands Chart |
1 Month Acuity Brands Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions