Market Overview

Market Update

Shares of Armstrong World Industries Inc (NYSE: AWI) gained about 1.6% about after the company posted fourth-quarter results. Armstrong World Industries projects 2012 adjusted earnings of $2.75 to $3.15 per share on sales of $2.9 billion to $3 billion. However, analysts were projecting earnings of $2.91 per share on revenue of $3 billion. Armstrong World Industries posted a quarterly net income of $8.5 million, or $0.14 per share, versus a year-ago net loss of $21 million, or $0.36 per share. Excluding items, Armstrong World Industries earned $0.16 per share, versus analysts' estimates of $0.29 per share. Its sales climbed 1% to $652.1 million, versus analysts' estimates of $669.8 million.

Shares of St. Jude Medical Inc (NYSE: STJ) dropped about 0.7% after the company announced its plans to lift its annual dividend by 10%. St. Jude Medical will raise dividend to $0.92 per share, from $0.84 per share.

Shares of PPL Corp (NYSE: PPL) dropped about 0.17% after the company agreed to buy AES Ironwood LLC and AES Prescott LLC from AES Corp (NYSE: AES) for around $304 million.

Shares of Mosaic Company (The) (NYSE: MOS) rose about 0.1% after the company announced its plans to raise its annual dividend by 150%. Mosaic will lift its dividend to $0.50 per share from $0.20 per share.

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