Shares of Dean Foods Company (NYSE: DF), a food and beverage company based in Dallas, Texas, surged in trading today. DF shares rose to an intra-day high of $16.75 in trading today before finishing the day 5.46% higher at $16.23 on above average volume of 4.82 million.
DF shares rallied after the company announced that it recently decided to explore a possible transaction that may result in the sale of the Morningstar business. The company noted that it is yet to identify a buyer for the Morningstar business; however, the company believes that the business possesses an attractive portfolio in a growing marketplace and a top-notch management team.
Shares of Jabil Circuit Inc. (NYSE: JBL), a provider of worldwide electronic manufacturing services and solutions, tumbled in trading today. JBL shares fell to an intra-day low of $18.77 in trading today before finishing the day 9.87% lower at $18.90 on above average volume of 10.57 million.
JBL shares tumbled after the company reported its fourth-quarter and fiscal year 2012 financial results. For the fourth quarter ended August 31, 2012, JBL reported revenue of $4.3 billion. Revenue for the fiscal year 2012 was $17.2 billion.
Timothy L. Main, President and CEO of Jabil Circuit, said that in this environment, posting another record fiscal year in revenue, income and earnings was quite an achievement. Main noted that JBLâ€™s results for the fourth quarter were negatively impacted by a challenging new program ramp in its Specialized Services sector.
Shares of Alaska Air Group Inc. (NYSE: ALK), a holding company for Alaska Airlines and Horizon Air, rose sharply in trading today. ALK shares rose to an intra-day high of $35.90 in trading today before finishing the day 6.18% higher at $35.75 on above average volume of 928,068.
ALK shares rallied in trading today after the company announced that its Board of Directors approved a stock repurchase program authorizing the company to repurchase up to $250 million of its common stock. The stock repurchase program does mote have an expiration data, however, ALK is looking to complete the program by December 31, 2014.
Alaska Air Group CEO Brad Tilden said that the $250 million repurchase authorization by the Board is the largest program ALK has ever announced, representing more than 10% of the current market capitalization of the company.
Shares of VeriFone Systems Inc. (NYSE: PAY), a provider of secure electronic payment solutions, fell sharply in trading today. PAY shares fell to a 52-week low of $27.38 in trading today before finishing the day 6.10% lower at $28.19 on above average volume of 9.36 million.
Shares of Research In Motion Limited (NASDAQ: RIMM), the maker of BlackBerry Smartphones, surged in trading today. RIMM shares rose to an intra-day high of $ 7.09 in trading today before finishing the day 6.06% higher at $7 on above average volume of 42.74 million.
Shares of The Ryland Group Inc. (NYSE: RYL), a homebuilder and mortgage finance company based in Westlake Village, California, fell sharply in trading today. RYL shares fell to an intra-day low of $29.73 in trading today before finishing the day 5.69% lower at $30.01 on above average volume of 2.41 million.