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FleetCor Commences Secondary Offering Of 6.75 Mln Shares

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6/8/2012 12:30 PM ET

FleetCor Technologies Inc. (FLT: Quote) Friday commenced its underwritten offering of 6.75 million shares of common stock by selling stockholders.

FleetCor will not sell any shares in the offering and will not receive any proceeds from the offering.

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by RTT Staff Writer

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After reporting an unexpected drop in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing that initial jobless claims rebounded by more than anticipated in the week ended June 15th. The report said initial jobless claims climbed to 354,000, an increase of 18,000 from the previous week's revised figure of 336,000. After ending the previous session sharply lower in reaction to the Federal Reserve's monetary policy announcement, stocks could see some further downside in early trading on Thursday. The major index futures are pointing to a notably lower open for the markets, with the Dow futures down by 99 points. U.K. retail sales rebounded at a faster-than-expected pace in May driven by food store sales, adding to evidence of economic recovery gaining firm footing in the second quarter. Sales volume including automotive fuel grew 2.1 percent in May from a month ago, when it was down 1.1 percent, figures released by the Office for National Statistics showed Thursday.
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