Updating EBAY INC., MCKESSON CORP. and LA-Z-BOY INC.

Article Excerpt

EBAY INC. $33 (www.ebay.com) is buying Zong, a private company that specializes in processing payments through mobile phones and other wireless devices. eBay will pay $240 million for Zong when the deal closes later this year. That’s equal to 38.0% of the $630.9 million, or $0.48 a share, that eBay earned in the three months ended June 30, 2011. Best Buy. MCKESSON CORP. $81 (www.mckesson.com) has raised its quarterly dividend by 11.1%, to $0.20 a share from $0.18. The new annual rate of $0.80 yields 1.0%. Buy. LA-Z-BOY INC. $8.71 (www.la-z-boy.com) earned $0.45 a share in the fiscal year ended April 30, 2011. That’s down 27.4% from $0.62 in 2010. Sales rose just 0.7%, to $1.19 billion from $1.18 billion, due to strong price competition from other furniture makers. As well, higher prices for wood, cotton and other raw materials will continue to hurt its profits. The stock has gained 1,598.1% since its March 2009 low of $0.53. We feel now is…