This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Tuesday's Winners & Losers: Target

Shares of Enterra Energy Trust (ENT - Get Report) were among the NYSE's losers Tuesday, tumbling 11% after the oil and gas income trust slashed its target payout ratio.

The company's new target payout ratio will range from 60% to 70% of cash flow from operations, down from a previous target range of 90% to 100%. Production volumes, the company said, remain on target and development project results remain positive. "Lowering the distribution payout increases flexibility and ensures cash is available to exploit Enterra's inventory of drilling and development opportunities for the long-term sustainability and growth of Enterra," the company said. As a result of the reduced payout ratio, the company revised its July cash distribution to 12 cents per unit, down from 18 cents per unit. Shares were trading down $1.55 to $12.01.

Pep Boys (PBY - Get Report) rose 5% after the auto-parts retailer said Chief Executive Larry Stevenson resigned, effective immediately. Stevenson will be replaced, on an interim basis, by non-executive Chairman Bill Leonard. Pep Boys said that it is conducting a search to find a full-time replacement. Shares were trading up 54 cents to $11.91.

Shares of Target (TGT - Get Report) slid 5% after the retailer lowered its July same-store sales forecast. The company now sees same-store sales growth of 3% to 4%, down from an earlier forecast of 4% to 6%. During the year-earlier period, the company posted a same-store sales increase of 5.5%. Shares were down $2.55 to $45.

Shares of BlackRock (BLK - Get Report) dropped 5% after the asset manager posted solid second-quarter earnings but gave a soft forecast for 2007. The company earned $63.4 million, or 95 cents a share, up from $53.3 million, or 80 cents a share, a year earlier. Excluding charges related to the company's pending purchase of Merrill Lynch's (MER) investment management business and other costs, adjusted earnings were $1.19 a share. Analysts expected earnings of $1.17 a share, before items. Assets under management totaled $464.07 billion at June 30, up from $414.41 billion a year earlier and $463.06 billion at March 31.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
BLK $366.53 -0.43%
FCX $18.96 -2.20%
ENT $13.30 0.53%
ICE $233.29 -0.72%
PBY $9.60 0.26%


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs