Archive for 'New York Stock Exchange'

It’s one of the “Sin” segment of stocks that some investors would prefer not to invest in but the dividend returns are nothing to sneeze at. They’re well established companies with good track records and have been paying a decent dividend for years. It’s worth taking a look.

For many companies, brand awareness is the make or break factor that contributes to their success. In the alcoholic beverage industry, the same rules apply. Brown-Forman (NYSE:BF.B), Anheuser-Busch InBev (NYSE:BUD), and Diageo plc (NYSE:DEO) have survived all these years because they own widely known brands such as Jack Daniels, Bud Light, and Captain Morgan. The growth at these companies has slowed considerably over the years, but due to the nature of the business, there is a large barrier to entry. For many of these brands, the process of making the alcohol takes years, so it is quite difficult for competitors to enter the market and become immediately successful. Although the growth has slowed, similar to tobacco stocks, the alcoholic beverage companies continue to generate stable cash flow that is in return handed over to investors, a trend that looks to be ongoing for years to come.

In this article I will highlight three dividend companies in the alcoholic beverage industry and focus on their results from the latest quarter as well as their dividend growth potential.

 

See more on beer, whiskey, wine

Top Dividend Stock for Retirement Portfolio

Planning for your retirement can be as easy as finding a top rated company that’s been around for a long time, has increased and paid out a dividend forever and you can pick it up on the cheap right now.

Dividend growth investors for a more secure retirement are a special breed. We see value when there may not be as much value as we would like. We see an opportunity to increase our income right now when a dividend aristocrat like Johnson & Johnson (NYSE:JNJ) is already correcting by 10% or more.

The focus is income for retirement, and my approach is to avoid timing the market and by taking advantage of what I consider fair pricing for a super juggernaut stock like JNJ.

Well, to my naive approach I see a stock that is not going out of business, is part of everyone’s lives around the world, has a name brand that is recognized by just about everyone, and has paid and increased its dividend for more than 25 consecutive years (52 years to be exact), through good and bad times and has even beaten wall street estimates this quarter.

Yes the company had guided lower back in April, so the results seems to have disappointed some analysts. That being said, it was less than a month ago that even Jim Cramer suggested that JNJ could unlock 50% more growth within the company itself by perhaps breaking the company up into three separate entities. That may or may not happen, but I believe that even if the company stays the way it is, dividend growth investors can now take advantage of an accidental high yield of 3.07% due to the drop in the share price from its 52-week highs.

 

Read more about J&J

Stock Expert Reveals Top Stocks to Buy and Sell

Zacks Equity Research highlights Unilever Plc (NYSE:UL) as the Bull of the Day and NuStar Energy (NYSE:NS) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Toyota Motor Corp. (NYSE:TM), Honda Motor Co. (NYSE:HMC) and Nissan Motor Co. (OTC:NSANY).

Full analysis of all these stocks is available at http://at.zacks.com/?id=2678.

Here is a synopsis of all five stocks:

Bull of the Day :

We are upgrading our recommendation on Unilever Plc (NYSE:UL) to Outperform from Neutral based on impressive third quarter 2012 results. Despite high input costs and a tough currency environment, Unilever posted healthy underlying sales growth of 5.9% on the back of both volume and pricing gains.

Increased investment in innovation and brand building also contributed to the growth. Organic sales in the emerging markets improved as well. The company maintained its dominant market share in all the business segments and recorded decent growth in spite of global economic crisis.

We are encouraged by Unilever’s solid fundamentals and a wide portfolio of globally recognized flagship brands. Moreover, continuous innovation in all the segments adds to its growth prospects.

Bear of the Day:

Following NuStar Energy’s (NYSE:NS) grim third quarter results, we are recalibrating our investment thesis on the midstream energy partnership to Underperform from Neutral. In particular, losses in its asphalt and fuel marketing segments (which together contribute roughly half of total income) adversely impacted NuStar’s third quarter profits.

Though we welcome the partnership s decision to sell a 50% stake in its volatile asphalt operations, the continued poor outlook for the sector will be a further drag on NuStar’s near-to-medium term EBITDA. We are also concerned by the partnerships high leverage. Considering these headwinds, we expect NuStar to perform below the industry, which gives investors little reason to hold the stock.

This is corroborated by our new Underperform recommendation. Our $40 price objective reflects a 2013 P/E multiple of 17.7x.

Latest Posts on the Zacks Analyst Blog:

Toyota Motor Corp. (NYSE:TM) expects that its sales in the U.S. will top 2 million vehicles in 2012 depending on burgeoning demand for Camry sedan and Prius hybrid. Last time, when the automaker’s sales reached that level was in 2007, at 2.62 million vehicles. Logging a sales of more than 2 million vehicles in the year implies a 22% growth from 2011.

In the first nine months of the year, Toyota’s sales grew 29.5% to 1.72 million vehicles. Sales of Camry surged 36.5% to 344,714 units while sales of Prius leapt 91.2% to 200,114 units during the period (all on a daily selling rate basis).

Toyota saw more than threefold increase in profits to ¥257.92 billion ($3.28 billion) or ¥81.44 ($1.04) per share in the second quarter of fiscal year ended September 30, 2012 from ¥80.42 billion or ¥25.65 in the same quarter of prior fiscal year.

The increase in profits can be attributed to strong demand for Toyota vehicles as well as positive impact from the company’s cost control measures. However, profits were lower than the Zacks Consensus Estimate of $1.62 per share.

Revenues in the quarter grew 18.2% to ¥5.41 trillion ($68.75 billion) on a 14.9% rise in sales volume to 2.16 million units. Vehicle sales increased in all the regions, except Europe. Operating income more than quadrupled to ¥340.61 billion ($4.33 billion) from ¥75.39 billion in the second quarter of previous fiscal year.

For fiscal 2013 ending March 31, 2013, Toyota projected lower consolidated vehicles sales of 8.75 million units, down 50 thousand units from the prior guidance. The automaker also lowered its consolidated revenue outlook to ¥21.30 trillion (up 14.6% from fiscal 2012) from the prior guidance of ¥22.00 trillion. The downward revision of sales outlook was based on difficulties in Chinese and European markets.

However, it raised operating income guidance to ¥1.05 trillion (up 195.3% from fiscal 2012) from the prior level of ¥1.00 trillion and profits to ¥780.0 billion (175.1%) from the previous projection of ¥760.0 billion.

Toyota is the leading automaker in the world. Its product portfolio consists of a full range of models from passenger cars, minivans and trucks as well as related parts and accessories.

The company’s domestic competitors include Honda Motor Co. (NYSE:HMC) and Nissan Motor Co. (OTC:NSANY). Despite better results, the company currently retains a Zacks #3 Rank on its shares, which translates to a short-term (1 to 3 months) rating of Hold, owing to the global economic weakness and problems in China, the company’s one of the biggest markets.

Get the full analysis of all these stocks by going to http://at.zacks.com/?id=2649.

About the Bull and Bear of the Day

Every day, the analysts at Zacks Equity Research select two stocks that are likely to outperform (Bull) or underperform (Bear) the markets over the next 3-6 months.

About the Analyst Blog

Updated throughout every trading day, the Analyst Blog provides analysis from Zacks Equity Research about the latest news and events impacting stocks and the financial markets.

About Zacks Equity Research

Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.

Continuous analyst coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.

Zacks “Profit from the Pros” e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=7158.

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Leonard Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment

Research is through our free daily email newsletter; Profit from the Pros. In short, it’s your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=4582.

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Disclaimer: Past performance does not guarantee future results. Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

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Zacks Lists 5 Stocks to Sell Now

NYSE

NYSE (Photo credit: Wikipedia)

Zacks.com releases details on a group of stocks that are currently members of the exclusive Zacks #5 Rank List – Stocks to Sell Now. These stocks are currently rated as a Zacks Rank #5 (Strong Sell): Cummins Inc. (NYSE:CMI) and Impax Laboratories Inc (NASDAQ:IPXL). Further, Zacks announced #4 Rankings (Sell) on two other widely held stocks: E I Du Pont De Nemours And Co (NYSE:DD) and Chemtura Corporation (NYSE:CHMT).

To see the full Zacks #5 Rank List – Stocks to Sell Now visit: http://at.zacks.com/?id=92

Since inception in 1988, the S&P 500 has outperformed the Zacks #5 Rank List of Stocks to Sell Now by 80% annually (+2% vs. +10%). While the rest of Wall Street continued to tout stocks during the market declines of the last few years, Zacks told investors which stocks to sell or avoid.

Here is a synopsis of why CMI and IPXL have a Zacks Rank of #5 (Strong Sell) and should most likely be sold or avoided for the next one to three months. Note that a #5 Strong Sell rating is applied to 5% of all the stocks in the Zacks Rank universe:

Cummins Inc. (NYSE:CMI) announced third -quarter profit of $1.78 per share on November 5, which came behind the Zacks Consensus Estimate by 6 cents. The diluted earnings per share also fell by 19.09% on a year-over-year basis. The Zacks Consensus Estimate for the current year slipped 18 cents per share to $8.43 in the last 30 days. Next year’s estimate also dipped 32 cents per share to $9.05 per share in that time span.

Impax Laboratories Inc (NASDAQ:IPXL) posted a third -quarter profit of 48 cents per share on November 6, which came in 2 cent wider than the average forecast. The Zacks Consensus Estimate for 2012 fell to a profit of $1.80 per share from $2.05 over the past month with 11 out of 13 covering analysts slashed forecasts. Next year’s forecasts slipped 70 cents to $1.41 per share in the same time span.

Here is a synopsis of why DD and CHMT have a Zacks Rank of 4 (Sell) and should also most likely be sold or avoided for the next one to three months. Note that a #4 Sell rating is applied to 15% of all the stocks ranked by Zacks;

E I Du Pont De Nemours And Co (NYSE:DD) third-quarter profit of 44 cents per share, posted on October 23, lagged analysts projections by nearly 4.35%. For 2012, the Zacks Consensus Estimate moved down 64 cent in the last 30 days as 7 out of the 12 covering analysts cut back on forecasts. The forecast for next year slid 63 cents to $3.72 per share in the same time span.

Chemtura Corporation (NYSE:CHMT) reported a third-quarter profit of 35 cents per share on November 6, that fell 2.78% short of the Zacks Consensus Estimate. The full-year average forecast is currently pegged at $1.44 per share, compared with the last 30 days projection of $1.52. Next year’s forecast dropped 11 cents per share in the same period.

Truly taking advantage of the Zacks Rank requires the understanding of how it works.  The free special report; “Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions” is available to provide this insightful background. Download a free copy now to prosper in the years to come at http://at.zacks.com/?id=93

About the Zacks Rank

Since 1988, the Zacks Rank has proven that “Earnings estimate revisions are the most powerful force impacting stock prices.” Since inception in 1988, #1 Rank Stocks have generated an average annual return of +28%. During the 2000-2002 bear market, Zacks #1 Rank stocks gained +43.8%, while the S&P 500 tumbled -37.6%. Also note that the Zacks Rank system has just as many Strong Sell recommendations (Rank #5) as Strong Buy recommendations (Rank #1). Since 1988, Zacks Rank #5 stocks have significantly underperformed the S&P 500 (2.8% versus +9.7%). Thus, the Zacks Rank system allows investors to truly manage portfolio trading effectively.

Visit http://www.zacks.com/performance for information about the performance numbers displayed in this press release.

Zacks “Profit from the Pros” e-mail newsletter offers continuous coverage of Zacks Rank Buy stocks and highlights those stocks poised to outperform the market. Subscribe to this free newsletter today by visiting http://at.zacks.com/?id=94

About Zacks

Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978 by Len Zacks. As a PhD from MIT Len knew he could find patterns in stock market data that would lead to superior investment results. Amongst his many accomplishments was the formation of his proprietary stock picking system; the Zacks Rank, which continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros.  In short, it’s your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros at http://at.zacks.com/?id=95

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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.

Disclaimer:  Past performance does not guarantee future results.  Investors should always research companies and securities before making any investments. Nothing herein should be construed as an offer or solicitation to buy or sell any security.

Media Contact
Zacks Investment Research
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Web Site: http://www.zacks.com

Starbucks Acquisition Under Investigation

Redesigned logo used from 2011-present.

Starbucks (Photo credit: Wikipedia)

Shareholder rights attorneys at Robbins Umeda LLP is investigating possible breaches of fiduciary duty and other violations of the law by members of the board of directors of Teavana Holdings Inc. (NYSE: TEA) in connection with their efforts to sell the company to Starbucks Corp. (NASDQ: SBUX).

On November 14, 2012, Teavana and Starbucks announced they had entered into a definitive merger agreement under which Starbucks will acquire Teavana through an all cash tender offer with a total value of $620 million. Teavana shareholders will receive $15.50 per share. Following the completion of the merger, Teavana will become a wholly-owned subsidiary of Starbucks.

Board’s Actions May Prevent Teavana Shareholders from Receiving the Maximum Value for Their Stock

Robbins Umeda LLP’s investigation focuses on whether the board of directors at Teavana is undertaking a fair process to obtain maximum value and adequately compensate its shareholders.  The offer price is substantially below the company’s stock price earlier this year and below the company’s stock price during its initial public offering last year.  Further, multiple analysts have set price targets higher than the $15.50 offer price. As recently as September 5, 2012, an analyst from KeyBanc set a target price of $24 per share, and an analyst from Piper Jaffrey set a price of $23 per share on September 4, 2012.  Finally, recently the company has reported impressive results.  On September 4, 2012, Teavana reported its second quarter 2012 earnings results reflecting a 38% increase in net sales and a 3.5% increase in comparable sales over the same quarter in 2011.  Given these financials and the company’s historical stock price, the firm is examining the board of directors’ decision to sell Teavana now rather than allow shareholders to continue to participate in the company’s continued success and future growth prospects.

Teavana shareholders have the option to file a class action lawsuit against the company to secure the best possible price for shareholders and the disclosure of material information so shareholders can vote on the transaction in an informed manner.  Teavana shareholders interested in information about their rights and potential remedies can contact Darnell R. Donahue at (800) 350-6003, ddonahue@robbinsumeda.com, or via the shareholder information form on the firm’s website.

Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. For more information, please go to http://www.robbinsumeda.com.

Press release link: http://www.robbinsumeda.com/shareholders-rights-blog/teavana-holdings-inc/

Attorney Advertising.Past results do not guarantee a similar outcome.

Contact:
Robbins Umeda LLP
Darnell R. Donahue
ddonahue@robbinsumeda.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsumeda.com

Web Site: http://robbinsumeda.com

Latest Aggressive Growth Stock Pick from Zacks

 

If it looks like a duck, walks like a duck…

The same is true for picking stocks. When you see a stock like this that’s showing consistent positive results, it’s not a duck. It’s a winner and the thing to do now is to jump on it and grab it with both hands.

Wesco (WCC) delivered three consecutive positive earnings surprises that have shown earnings acceleration. Add in some higher estimates and you have all the components of a Zacks #1 Rank (Strong Buy).

Company Description

Wesco International, Inc. is a leading provider of electrical products and other industrial MRO supplies and services in North America. The company is also a provider of Integrated Supply services. Their Integrated Supply solutions and outsourcing services fulfill a customer’s industrial MRO procurement needs through a highly automated, proprietary electronic procurement and inventory replenishment system. It operates 400 branches and 8 distribution centers located in North America and internationally. WESCO International, Inc. was founded in 1998 and is headquartered in Pittsburgh, Pennsylvania.

WCC Tops Expectations Three Straight Times

WCC has beaten the Zacks Consensus Estimate in each of the last three quarters. One of the beats, in the September 2011 quarter saw the company post earnings of $1.13, $0.09 ahead of the Zacks Consensus Estimate of $1.04. The stock then moved higher by 10% after that 8.6% beat.

The string of beats started in the June 2011 quarter when the company posted EPS of one dollar, but that was seven cents ahead of the Zacks Consensus Estimate of $0.93. The stock moved higher by nearly 7% following the report.

WCC Recently Reported Earnings

On January 26, 2012 the company reported revenue of $1.59 billion roughly $63 million more than the Zacks Consensus Estimate and up from the $1.33 billion reported in the year ago period. EPS of $1.12 was $0.15 ahead of the estimate or a 15% beat. As a result the stock moved higher by about 6.5%.

Aggressive growth investors love to see beats, but they love it even more when the company increases the acceleration of earnings momentum with stronger beats on an absolute and percentage basis. WCC has done just that in its last three beats.

Earnings Estimates Bumped Up

Following the most recent earnings report, analysts bumped up their earnings estimates for 2012. The Zacks Consensus Estimate for 2012 EPS moved from $4.34 in December 2011 to the current level of $4.70.

Source

 

This stock is rated a strong buy by Zack’s. If you would like to see more of these winners Get #1 Strong Buy Picks from Zacks

Phila. Law Firm Commits to 7 Year Lease

Penn Center, Philadelphia, Pennsylvania.

Phila. Law Firm Commits to 7 Year Lease-Image via Wikipedia

Morgan, Lewis & Bockius LLP (Morgan Lewis) and Lexington Realty Trust (NYSE: LXP) announced today that Morgan Lewis extended its lease for 289,432 square feet of Class A office space at Six Penn Center in Philadelphia, PA which is owned by a joint venture controlled by Lexington Realty Trust.  Morgan Lewis, one of the 15 largest law firms in the US according to The National Law Journal’s NLJ250, leases 100% of the office space at Six Penn Center consisting of floors six through 18.  The lease now expires on January 31, 2021.  The building also contains prime ground floor retail space and four levels of structured parking.

Morgan Lewis was represented by W. Whitney Hunter and Peter Talman of Jones Lang LaSalle.  Locally-based Pitcairn Properties Management Co. LLC will continue to be responsible for the management of the building.

ABOUT MORGAN, LEWIS & BOCKIUS LLP

With 22 offices in the United States, Europe, and Asia, Morgan Lewis provides comprehensive transactional, litigation, labor and employment, regulatory, and intellectual property legal services to clients of all sizes—from global Fortune 100 companies to just-conceived startups— across all major industries. Its international team of attorneys, patent agents, employee benefits advisors, regulatory scientists, and other specialists—nearly 3,000 professionals total—serves clients from locations in Beijing, Boston, Brussels, Chicago, Dallas, Frankfurt, Harrisburg, Houston, Irvine, London, Los Angeles, Miami, New York, Palo Alto, Paris, Philadelphia, Pittsburgh, Princeton, San Francisco, Tokyo, Washington, D.C., and Wilmington. For further information about Morgan Lewis or its practices, please visit: www.morganlewis.com.

ABOUT LEXINGTON REALTY TRUST

Lexington Realty Trust is a real estate investment trust that owns, invests in and manages single-tenant office, industrial and retail properties leased to major corporations throughout the United States.  Lexington also provides investment advisory and asset management services to investors in the single-tenant area. Lexington’s common shares are traded on the New York Stock Exchange under the symbol “LXP”. Additional information about Lexington is available on-line at www.lxp.com or by contacting Lexington Realty Trust, Investor Relations, One Penn Plaza, Suite 4015, New York, New York 10119-4015.

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under Lexington’s control which may cause actual results, performance or achievements of Lexington to be materially different from the results, performance, or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those factors and risks detailed in Lexington’s periodic filings with the Securities and Exchange Commission. Lexington undertakes no obligation to publicly release the results of any revisions to those forward-looking statements which may be made to reflect events or circumstances after the occurrence of unanticipated events. Accordingly, there is no assurance that Lexington’s expectations will be realized.

CONTACT: Investor or Media Inquiries for Lexington Realty Trust, Patrick Carroll, CFO, Lexington Realty Trust, +1-212-692-7200, pcarroll@lxp.com, or Media Inquiries for Morgan, Lewis & Bockius LLP, Frances Marine Bravo, Director of Public & Media Relations, Morgan, Lewis & Bockius LLP, +1-215-963-5835, frances.bravo@morganlewis.com

Web Site: http://www.lxp.com

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ING Prime Rate Trust (Trust), a diversified closed-end management investment company listed on the New York Stock Exchange (NYSE: PPR), has announced today its intention to redeem the remaining portion of its outstanding auction-rate preferred shares (ARPS). The Trust’s Board of Trustees has approved a redemption that will be paid primarily by drawing on leverage available under the Trust’s credit facilities. The redemption would provide liquidity at par for the holders of the remaining ARPS.

The Trust expects to redeem approximately $25 million of the ARPS currently outstanding, approximately 100% by series, subject to satisfying the notice and other requirements that apply to ARPS redemptions. Upon completion of such notice and other requirements, the Trust will issue a formal redemption notice to the paying agent and record holders. The Trust expects to issue a formal redemption notice by the third week of November and anticipates that the redemption of the $25 million of ARPS will be completed by mid- to late December 2011.

In December 2009, the Trust announced its intention to redeem up to $100 million of the $225 million ARPS then outstanding, through a series of four quarterly periodic redemptions of up to $25 million each.  In September 2010, the Trust’s Board of Trustees approved the continuation of the program for quarterly redemptions of the outstanding ARPS of the Trust in amounts of up to $25 million each quarter subject to management’s discretion to modify or cancel the program at any time. The amount and timing of subsequent redemptions of ARPS will be at the discretion of the Trust’s Board of Trustees and management, subject to market conditions and investment considerations.

The Depository Trust Company (DTC) will determine how partial series redemptions will be allocated among each participant broker-dealer account. Each participant broker-dealer, as nominee for its customers who are beneficial owners of the ARPS (street name shareholders), in turn will determine how redeemed shares are to be allocated among its customers. The procedures used by broker-dealers to allocate redeemed shares among beneficial owners may differ from each other as well as from the procedures used by DTC.

SHAREHOLDER INQUIRIES: ING Funds Shareholder Services at (800) 992-0180

Certain statements made on behalf of the Trust in this release may be considered forward-looking statements. The Trust’s actual future results may differ significantly from those anticipated in any forward-looking statements due to numerous factors, including but not limited to a decline in value in markets in general or the Trust’s investments specifically. Neither the Trust nor ING undertakes any responsibility to update publicly or revise any forward-looking statement.

ING Investment Management (ING IM) is a leading U.S.-based active asset management firm. As of September 30, 2011, ING IM manages approximately $163 billion for both institutions and individual investors. ING IM has the experience and resources to invest responsibly across asset classes, geographies and investment styles. Through our global asset management network, we provide clients with access to domestic, regional and global investment solutions.

With an emphasis on active management, our investment mission is to find unrecognized value ahead of consensus. To this end, our portfolio management teams seek original insights on markets and securities and a vision of investment potential that differs from the consensus view. We apply our proprietary research and analytics, portfolio diagnostics and risk management to the development of investment solutions in pursuit of our clients’ objectives. We believe this is best achieved by structuring our investment platforms as entrepreneurial, skills-based strategy teams united by shared resources.

ING Investment Management is committed to investing responsibly and delivering client-oriented investment solutions and advisory services across asset classes, geographies and styles. We serve a variety of institutional clients, including public, corporate and union retirement plans, endowments and foundations, and insurance companies, as well as individual investors via intermediary distribution partners such as banks, broker/dealers and independent financial advisers.

CONTACT: Dana Ripley, dana.ripley@us.ing.com, +1-770-980-4865

Viacom (NYSE: VIA, VIA.B) Pulls Out of NYSE

Viacom (NYSE: VIA, VIA.B) Pulls Out of NYSE

Viacom (NYSE: VIA, VIA.B) Pulls Out of NYSE-Image via Wikipedia

Viacom Inc. (NYSE: VIA, VIA.B) today announced the transfer of its stock exchange listing to The NASDAQ Global Select Market from The New York Stock Exchange.

The company said that the voluntary transfer to The NASDAQ Global Select Market, an exchange of The NASDAQ OMX Group Inc. (Nasdaq: NDAQ), will be more cost effective, while continuing to provide Viacom shareholders with strong execution and liquidity.  Viacom’s Class A common stock will trade on NASDAQ under the symbol “VIA” and its Class B common stock will trade under the symbol “VIAB” beginning December 1, 2011.

About Viacom

Viacom is home to the world’s premier entertainment brands that connect with audiences through compelling content across television, motion picture, online and mobile platforms in more than 160 countries and territories. With approximately 160 media networks reaching approximately 700 million global subscribers, Viacom’s leading brands include MTV, VH1, CMT, Logo, BET, CENTRIC, Nickelodeon, Nick Jr., TeenNick, Nicktoons, Nick at Nite, COMEDY CENTRAL, TV Land, Spike TV and Tr3s. Paramount Pictures, America’s oldest film studio and creator of many of the most beloved motion pictures, continues today as a major global producer and distributor of filmed entertainment. Viacom operates a large portfolio of branded digital media experiences, including many of the world’s most popular properties for entertainment, community and casual online gaming.

For more information about Viacom and its businesses, visit www.viacom.com.

Cautionary Statement Concerning Forward-Looking Statements

This news release contains both historical and forward-looking statements. All statements that are not statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements reflect the Company’s current expectations concerning future results, objectives, plans and goals, and involve known and unknown risks, uncertainties and other factors that are difficult to predict and which may cause actual results, performance or achievements to differ. These risks, uncertainties and other factors include, among others: the public acceptance of the Company’s programs, motion pictures and other entertainment content on the various platforms on which they are distributed; technological developments and their effect in the Company’s markets and on consumer behavior; competition for audiences and distribution; the impact of piracy; economic conditions generally, and in advertising and retail markets in particular; fluctuations in the Company’s results due to the timing, mix and availability of the Company’s motion pictures; changes in the Federal communications laws and regulations; other domestic and global economic, business, competitive and/or regulatory factors affecting the Company’s businesses generally; and other factors described in the Company’s news releases and filings with the Securities and Exchange Commission, including its 2011 Annual Report on Form 10-K and reports on Form 10-Q and Form 8-K. The forward-looking statements included in this document are made only as of the date of this document, and the Company does not have any obligation to publicly update any forward-looking statements to reflect subsequent events or circumstances. Reconciliations for any non-GAAP financial information contained in this news release are included in this news release or available on the Company’s website at www.viacom.com .

CONTACT: Carl Folta, Executive Vice President, Corporate Communications, +1-212-258-6352, carl.folta@viacom.com, or Investors: James Bombassei, Senior Vice President, Investor Relations, +1-212-258-6377, james.bombassei@viacom.com

Web Site: http://www.viacom.com

Allstate (NYSE: ALL) Board OK’s Stock Repurchase

The Allstate Corporation (NYSE: ALL) today announced that its board of directors has approved plans to issue preferred stock and senior unsecured debt to fund a new $1.0 billion share repurchase program and repay maturing debt. The board also approved a quarterly dividend of 21 cents per share.

“We believe this is an opportune time to repurchase common stock given Allstate’s current valuation,” said Thomas J. Wilson, Allstate’s chairman, president and chief executive officer. “As a result, we plan to adjust our capital structure to capture this opportunity while maintaining our strong capital position. Our $1.0 billion share repurchase program and upcoming 2012 debt maturity will be funded by issuing a combination of preferred stock and senior unsecured notes totaling $1.25 billion, market conditions permitting.” The share repurchase program will be made through open market purchases and may include an accelerated repurchase program. The program is expected to be completed by March 31, 2013.

The board also approved a quarterly dividend of 21 cents on each outstanding share of the corporation’s common stock, payable in cash on January 3, 2012 to stockholders of record at the close of business on November 30, 2011.

This press release contains “forward-looking statements” that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. We believe that these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. We assume no obligation to update any forward-looking statements as a result of new information or future events or developments.

Allstate has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents Allstate has filed with the SEC for more complete information about Allstate and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, Allstate will arrange to send you the prospectus if you request it by calling tollfree 1-800-416-8803.

The Allstate Corporation (NYSE: ALL) is the nation’s largest publicly held personal lines insurer known for its “You’re In Good Hands With Allstate®” slogan. Now celebrating its 80th anniversary as an insurer, Allstate is reinventing protection and retirement to help nearly 16 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products (auto, home, life and retirement) and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives in the U.S. and Canada, as well as via www.allstate.com and 1-800 Allstate®.

CONTACT: Maryellen Thielen, Media Relations, +1-847-402-5600, or Robert Block or Christine Ieuter, Investor Relations, +1-847-402-2800

Web Site: http://www.allstate.com

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