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Market Update : 
GM Dividend Lowered to $1
Author: Elena Todorova
123jump.com
Last Update: 9:30 AM EST February 07 2006


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Asian markets ended mixed. The Nikkei declined 0.2%, South Korean Kospi dropped 0.7%, while Bombay Stock Exchange''s 30-share Sensex hit an all-time high of 1% at 10066.55 points. European stocks traded lower with London FTSE 100 down 0.5% on disappointing outlook from BP. Toll Brothers posted 35% home building revenue rise in Q1, but lowered its guidance for home deliveries for 2006. Disney posted 7% income growth in Q1, beating earnings and revenue estimates.

 
Benchmark Electronics Inc, (BHE: chart), outsourced manufacturing services to the electronics industry provider, reported that Q4 net income advanced 22% to 57 cents a share, while sales grew 19.3%. Analysts were expecting earnings of 51 cents a share.

Performance Food Group Co, (PFGC: chart), food and non-food products producer and distributor, posted earnings of 44 cents a share, nearly three times the year-ago profit of 18 cents a share, beating analyst estimate of 31 cents a share. Consolidated net sales from continuing operations in the fourth quarter advanced 7%, while Q4 inflation was approximately 1%.

MeriStar Hospitality Corp, (MHX: chart), real estate investment fund, reported a Q4 loss of $1.30 a share, down from a year-ago loss of 20 cents a share. On an adjusted basis, the company reported funds from operations of 17 cents a share, beating on that basis analyst predictions of 15 cents a share. Revenue grew to $183.4 million from $159.4 million in the same time a year earlier.
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