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Company News for October 12, 2012

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•    Shares of Safeway Inc. (NYSE:SWY) dropped 3.6% after reporting a third quarter net income of $108.0 million, well below the prior year’s net income of $130.3. Earnings of $0.45 a share were, however, $0.03 ahead of the Zacks Consensus Estimate

•    Fastenal Company’s (NASDAQ:FAST) shares jumped 8.4% after reporting a 12.1% yearly surge in third quarter diluted earnings, which came in at $0.37 per share, in line with the Zacks Consensus Estimate

•    According to reports, Japan’s cellular company Softbank Corp. will make a “potential substantial investment” in Sprint Nextel Corp. (NYSE:S). Following this development, shares of the company gained 14.3%.

•    Investor Carl Icahn offered to buy Oshkosh Corporation (NYSE:OSK) and will be paying $32.50 for every share. Following this development, shares of the company gained 11.4%


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