Updating NORDSTROM INC., ARKANSAS BEST CORP. and FEDEX CORP.

Article Excerpt

NORDSTROM INC. $34 has raised its quarterly dividend by 25.0%, to $0.20 a share from $0.16. The new annual rate of $0.80 yields 2.4%. Buy. ARKANSAS BEST CORP. $23 lost $0.30 a share in the three months ended June 30, 2010. That’s a big improvement over the $0.62 a share it lost in the year-earlier quarter. Revenue rose 13.4%, to $411.3 million from $362.6 million. The company shipped more goods during the quarter; that offset slightly lower shipping rates. However, Arkansas Best needs a sustained economic recovery to return to profitability. It also needs to cut its labour costs, which are about 10% higher than the industry average. Hold. FEDEX CORP. $83 expects to earn $4.60 to $5.20 a share in its current fiscal year, which ends May 31, 2011. That’s up from its previous prediction of $4.40 to $5.00 a share. The courier company is shipping more packages than it expected, particularly through its more-profitable overnight services. Buy. Buy…