By Dominique A. de Kevelioc, de Bailleul Beacon Contributing Writer We’ve all heard the Wall Street adage: “Sell in May. Go away. Come back after Labor Day.” Alan M. Newman, technical editor of Stock Market Crosscurrents, believes this time investors should sideline to cash to avoid what he believes could be a 15 per cent [...]

By Michael Bogan Beacon Contributing Writer Greece reached agreement to prevent bankruptcy of the small EU member, agreeing with the European Union (EU) and International Monetary Fund (IMF) to strict cuts in public spending, including pensions, government employee salaries and other cuts. Greek Prime Minister George Papandreou said the government reached agreement to deep spending [...]

By Michael Bogan Beacon Contributing Writer Dearborne Bancorp Incorporated (Nasdaq: DEAR), the Holding Company for Fidelity Bank, posted net income of $1,128,000, or 15 cents per share, for the fiscal first quarter ended March 31, 2010. This compares with a fiscal 2009 first-quarter loss of $6,249,000, or a loss of 81 cents per share. As [...]

By Michael Bogan Contributing Writer Citigroup Inc. (NYSE: C) posted strong first-quarter fiscal results, providing more evidence that the big money center banks may have weathered the credit crisis storm. The troubled bank said it earned $4.4 billion for the fiscal 2010 first quarter, compared with a loss of $696 million for the equivalent quarter [...]

With two weeks from its meeting with the NASDAQ to discuss the stock’s delisting, Sirius XM Radio (Nasdaq: SIRI) announced better-than-expected net subscribers for the first quarter, pre-releasing the numbers at an obviously auspicious time. This marks the third straight quarter of subscription growth. The pre-release shocked the Street, with one particularly gloomy analyst expecting [...]

by Sarah Devin Beacon Contributing Writer CSX reported after the market bell earnings of 78 cents per share for the first quarter, nine cents more than the mean analysts’ estimate polled by Thomson Reuters. Revenue rose to $2.5 billion for the quarter, compared with consensus of $2.37 billion. The nation’s third largest railroad cited “gradual [...]

by Sarah Devin Beacon Contributing Writer Intel (Nasdaq: INTC) recently reported first-quarter financial results, beating estimates and suggesting that companies have loosened up a little on upgrading employee laptops. Intel’s evidence of an uptrend in corporate spending marks an encouraging sea change in the chip sector, as business outlays for IT spending nearly dried up [...]

Following a last-ditch effort to establish a niche for itself with the release of the Pre and Pixi smartphones, Palm Inc. (Nasdaq: PALM) has decided to seek a buyer for the company, say sources of a Bloomberg story. Rivals iPhone and BlackBerry have taken market share from Palm, which has been outflanked by better marketing, [...]

Shares of Casey’s General Stores Incorporated (Casey’s) (Nasdaq: CASY) rose sharply Friday following news of its rejection of Canadian competitor Alimentation Couche-Tard Inc (Couche-Tard) takeover bid. Casey’s said the offer is too low and is not in the best interest of investors in the long term. Couche-Tard had submitted an all-cash $36 per share bid, [...]

Shares of Palm Inc. (NASDAQ ALM) jumped 20% Wednesday on rumors that a computer maker was considering making a bid for the beleaguered wireless device maker. By the close of trading Wednesday, shares of Palm soared 77 cents to $4.62 – closing at its highest level since the company reported on March 18 a disappointing [...]