Tuesday Market Movers
Digital Generation (NASDAQ: DGIT): On Monday, the company announced that its Board of Directors is undergoing an overview of various financial strategies. The new strategies could include partnerships, strategic business model alternatives and an asset sale or transaction. A month ago, the company rejected a bid by its competitor Extreme Reach, for $20 per share.
Chairman of DG's Board of Directors Scott Ginsburg commented, “In fulfilling our fiduciary obligation to our investors, the Board has decided to explore a number of strategic options for the Company. We remain focused on executing on our business plan to bring an independent, end-to-end platform and workflow tool set for advertisers to manage, deliver, optimize and measure their campaigns across TV, Web, mobile and social channels.”
Digital Generation traded up about 27 percent on Tuesday.
Mattel (NASDAQ: MAT): On Tuesday, Mattel reported second quarter earnings that beat analyst estimates. Mattel had earnings of $0.28 per share in the second quarter, compared to earnings of $0.23 per share in the comparable period last year. The Board of Directors also declared a quarterly dividend of $0.31 per share for the third quarter.
Mattel Chief Executive Officer Bryan G. Stockton commented “In the second quarter, we delivered solid performance as we continued to build momentum with key brands, such as Barbie, Monster High, American Girl and Hot Wheels, as well as the Batman - The Dark Night Rises property, despite a continued cautious global retail environment and a strengthening U.S. dollar.”
Mattel traded up about 10 percent on Tuesday.
Comerica (NYSE: CMA): Comerica reported second quarter earnings on Tuesday morning that beat analyst estimates. The company had second quarter earnings of $0.73 per share, compared to analyst estimates of $0.62 per share. Comerica also saw increases of 5 percent in its commercial loans.
Chairman and Chief Executive Officer Ralph W. Babb Jr. noted, "Our second quarter results reflect our focus on the bottom line in this slow growing national economy… This was the eighth consecutive quarter of average commercial loan growth, resulting in a 20 percent year-over-year increase, including our acquisition of Sterling Bancshares last July.”
Comerica traded up about 1.5 percent on Tuesday.
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