全美航空

    《财富》500强排名：199

    2012年销售额：138亿美元（847.32亿元人民币）

    2012年总回报率：166.3%

    和破产的美国航空（American Airlines）合并后，全美航空这个按收入排名美国第五的航空公司正式成为全球民航业规模最大的企业，让股东们喜出望外。

    2012年初全美航空刚刚提出和美国航空合并的计划，从那时起到今年2月份，全美航空的股价上涨了两倍；今年2月份合并计划获得法院批准，进一步推高了全美航空的股价。全美航空还提升了客座率，降低了燃油成本。2012年全美航空的盈利猛增至6.37亿美元（39.11亿元人民币），远高于2011年的7,100万美元（4.36亿元人民币）。

    预计全美航空将在2013年完成和美国航空的合并。全美航空首席执行官道格•帕克预计将成为合并后公司的首席执行官。

US Airways

    Fortune 500 rank: 199

    2012 sales: $13.8 bil

    2012 total return: 166.3%

    Shareholders cheered when the nation's fifth-largest airline by revenue officially became the world's biggest airline, thanks to its merger with bankrupt American Airlines.

    A judge approved the deal in February, which helped give US Airways shares another boost after they tripled in value since the start of 2012, shortly after it began pursuing the deal. US Airways also flew fuller planes and enjoyed cheaper fuel costs. In 2012, earnings jumped to $637 million -- up dramatically from $71 million the previous year.

    In the year ahead, the airline is expected to close its deal with American. US Airways Chief Executive Doug Parker is expected to serve as CEO of the new airline.

斯普林特Nextel公司

    《财富》500强排名：87

    2012年销售额：353亿美元（2,167.42亿元人民币）

    2012年总回报率：142.3%

    虽然出现亏损，但美国第三大无线通信运营商斯普林特Nextel的股价飙升，原因是高层为扭转经营状况所付出的努力引发了针对该公司资产的争夺战。

    去年10月，斯普林特Nextel同意将大部分资产转让给日本科技行业巨头软银（Softbank）。大多数投资者倍感振奋，他们认为这是斯普林特 Nextel和规模更大的竞争对手，也就是美国电话电报公司（AT&T）和威瑞信电信（Verizon）进行抗衡的关键措施。这项交易价值200亿美元（1,288亿元人民币），而且能为斯普林特Nextel带来现金，避免它因网络改造计划实施不力而破产。

    2005年和Nextel合并后，Sprint Nextel一直在设法重振业务。它已投入数十亿美元资金来建设下一代数据网络，以便为苹果公司（Apple）的iPhone 5等最新型智能手机提供支持。

    和软银的交易预计将在今年晚些时候完成，但也可能无法成行。4月份，卫星电视运营商Dish Network拟出资255亿美元（1,565.7亿元人民币）收购Sprint Nextel的控股权。但软银高层仍然相信他们对Sprint Nextel的收购将占据上风。

Sprint Nextel

    Fortune 500 rank: 87

    2012 sales: $35.3 bil

    2012 total return: 142.3%

    Despite profit losses, shares of the nation's third-largest wireless carrier surged as executives tried to turn business around, sparking a bidding war for its assets.

    In October, Sprint Nextel agreed to sell a majority of the company to Japanese tech giant Softbank, a move most investors hailed as key for it to compete against larger rivals AT&T and Verizon. The $20 billion deal would also give Sprint the cash necessary to avoid bankruptcy if its ongoing network transformation plan doesn't go well.

    The company has long struggled to recover from the 2005 merger with Nextel. It has been spending billions of dollars to build a next-generation data network to support the latest smartphones like the Apple iPhone 5.

    The deal with Softbank is expected to close later this year, but it may not end up happening. In April, Dish Network stepped up with an offer of $25.5 billion for control of Sprint. Softbank executives remain confident their bid will prevail.

Western Refining公司

    《财富》500强排名：283

    2012年销售额：95亿美元（583.3亿元人民币）

    2012年总回报率：134.2%

    2012年石油价格较低，美国炼油企业Western Refining因此获利，投资者也很高兴。美国石油供应充足，炼油板块随之走强，该公司股价也增长了一倍以上。

    Western Refining在德克萨斯州和新墨西哥州设有炼油厂。去年11月，这家公司的股价升至5年来的最高点，原因是德州米德兰盆地所产石油的售价相对于美国基准油价的折让幅度仍处于历史最高水平。德州二叠纪盆地石油产量上升造成当地油价下降，也是Western Refining股价上扬的动力之一。

    如果石油价格维持在较低水平，2013年投资者可能仍会感到高兴。

Western Refining

    Fortune 500 rank: 283

    2012 sales: $9.5 bil

    2012 total return: 134.2%

    Thanks to cheaper oil in 2012, this U.S. refiner cashed in and made investors happy. Shares more than doubled amid a refining rally spurred by abundant oil in the U.S.

    Western Refining owns refineries in Texas and New Mexico. In November, its stock rose to the highest in five years as oil produced in Midland, Texas, continued selling at a record discount to the U.S. benchmark. The refiner also gained from a boost in oil production in West Texas's Permian basin, which has helped push down crude prices in the region.

    If prices remain low, investors may stay happy in 2013.

AMR公司

    《财富》500强排名：121

    2012年销售额：249亿美元（1,528.86亿元人民币）

    2012年总回报率：127.1%

    2012年，美国航空母公司AMR仍在进行破产重组，重组行动包括裁员。这家公司的运量排名美国第三，它的另一项工作是削减成本，途径包括重议租金、削减管理和支持部门人员以及冻结十几个养老金项目。

    虽然投资者看来相信这家公司正在认真地重振业务，但AMR在4月份提出了脱离破产保护状态的计划。它打算和竞争对手全美航空合并，从而打造全球最大的航空公司。

    按照交易计划，AMR股东将在合并后的公司持股3.5%。

AMR

    Fortune 500 rank: 121

    2012 sales: $24.9 bil

    2012 total return: 127.1%

    American Airlines parent AMR Corp continued to shed workers as part of its ongoing bankruptcy reorganization in 2012. The nation's third-largest U.S. carrier by traffic also renegotiated leases, cut management and support staff and froze dozen of pension plans to lower costs.

    While investors appeared convinced the company was serious about turning business around, AMR in April filed plans to exit bankruptcy. It plans to merge with rival U.S. Airways to form the world's biggest airline.

    Under the deal, AMR shareholders will receive a 3.5% equity stake in the new company.

惠而浦

    《财富》500强排名：154

    2012年销售额：181亿美元（1,111.34亿元人民币）

    2012年总回报率：120%

    惠而浦是全球最大的家电制造商，它的股价随着美国住房市场摆脱低迷而大幅上升。楼市回暖全面提升家电需求，从洗衣机到电冰箱无一例外。

    通过削减成本和降低生产规模，2012年12月，惠而浦实现了盈利增长。

    如果楼市继续复苏，惠而浦有望再给投资者带来一个精彩的年份。

Whirlpool

    Fortune 500 rank: 154

    2012 sales: $18.1 bil

    2012 total return: 120%

    Shares of the world's largest maker of home appliances surged as America's sluggish housing market turned the corner. This led to more demand for everything from washing machines to refrigerators.

    Whirlpool saw earnings rise during the last months of 2012 as it cut costs and scaled back production.

    If the housing market continues to recover, investors might see another decent year.

HollyFrontier公司

    《财富》500强排名：143

    2012年销售额：201亿美元（1,234.14亿元人民币）

    2012年总回报率：116.5%

    也许不是所有人都知道HollyFrontier，但这家不怎么出名的美国炼油企业已经抓住了华尔街的眼球。2012年，HollyFrontier创造了大量现金流，让投资者很高兴。它还通过提高分红、派发特别红利和股票回购等途径向股东返还现金。

    HollyFrontier的历史较短，由Holly Corp.和Frontier Oil Corp.在2011年7月合并而成。目前，它在美国中部、西南部和落基山脉经营着5家炼油公司。

HollyFrontier

    Fortune 500 rank: 143

    2012 sales: $20.1 bil

    2012 total return: 116.5%

    Its name may not be a household one, but this lesser known U.S. refiner has grabbed the attention of Wall Street. HollyFrontier made investors happy in 2012 with its strong cash flow. It also returned cash to shareholders by raising dividends and offering special payouts and share buybacks.

    The company is relatively young, born out of a merger in July 2011 between Holly Corp. and Frontier Oil Corp. It operates five refining companies in the mid-continent, southwestern and Rocky Mountain regions.

OfficeMax公司

    《财富》500强排名：367

    2012年销售额：69亿美元（423.66亿元人民币）

    2012年总回报率：116.2%

    OfficeMax是美国第三大办公用品零售商。虽然它在2012年的销售额下降，但股价却在上涨，原因是管理层通过关闭零售店、缩小店面降低了成本。它还把重点放在了自有品牌产品上，以便在设法扭转自身颓势之际维持利润率。

    2013年OfficeMax可能更名。今年2月份，它同意和规模更大的竞争对手欧迪办公（Office Depot）合并。这笔交易将完全以换股方式进行，价值约120亿美元（736.8亿元人民币）

    合并后公司的名称尚未确定，但这项计划推动两家公司的股价同时上涨。预计这项交易可为双方节约数亿美元资金，同时还能带来足够的现金和信贷。

OfficeMax

    Fortune 500 rank: 367

    2012 sales: $6.9 bil

    2012 total return: 116.2%

    Despite weaker sales, the nation's third-largest office supply chain saw its stock rise in 2012 as executives cut costs by closing or shrinking stores. OfficeMax also focused on private label products to support the chain's margins as it tried to turn the company around.

    In the year ahead, OfficeMax likely won't exist under that name. The chain in February agreed to merge with bigger rival Office Depot in an all-stock deal worth about $1.2 billion.

    What the combined companies will be named is yet to be determined, but the merger pushed stocks for both companies higher. The deal is expected to save them hundreds of millions of dollars and generate plenty of cash and credit for the company.

美国银行

    《财富》500强排名：21

    2012年销售额：1,001亿美元（6,146.14亿元人民币）

    2012年总回报率：109.7%

    美国银行（Bank of America）是美国第二大银行。监管部门认定它的缓冲资金足以避免它在新一轮全球金融危机中倒闭，股东们也因此稍稍松了一口气。

    美银是2012年金融板块表现最好的个股之一，股价上涨了109%。因此，投资者越发相信这家行拥有的资金可以满足新的国际标准。

    2011年，美银首席执行官布莱恩•莫伊尼汉曾要求增加分红，但监管机构的否决让他陷入尴尬境地。和2011年不同的是，2012年美银面临的戏剧性场面较少。它没有提高1美分的季度分红或者回购股票，而是计划在消化按揭贷款相关损失的同时，继续积累资金。

    莫伊尼汉正在领导美银开展长期削减成本计划。到2013年底，这家银行每季度可节约开支15亿美元（92.1亿元人民币），到2015年中期每年可降低成本20亿美元（122.28亿元人民币）。

Bank of America

    Fortune 500 rank: 21

    2012 sales: $100.1 bil

    2012 total return: 109.7%

    Shareholders breathed a sigh of relief when regulators determined the nation's second-largest bank had enough cushion money to prevent it from collapsing if the world was struck by another financial crisis.

    Bank of America was one of the financial sector's best performing stocks in 2012, with shares surging 109%. Investors grew confident it had the capital it needs to meet new international standards.

    And unlike last year, when Chief Executive Brian Moynihan was embarrassingly rejected by regulators when he asked to raise dividends, there was less drama in 2012. Rather than hiking the bank's penny-per-quarter payout or buy back shares, BofA plans instead to continue building capital as it works to absorb mortgage-related losses.

    Moynihan is leading the bank through a long-term cost-cutting program, where it would save $1.5 billion a quarter by the end of 2013 and $2 billion annually through the middle of 2015.

特雷克斯

    《财富》500强排名：351

    2012年销售额：73亿美元（448.22亿元人民币）

    2012年总回报率：108.1%

    经济严重衰退带来的停滞期过后，许多美国建筑行业巨头都打算更换多种设备，涉及到的产品很多，从起重机到高空作业车一应俱全。

    需求复苏推动了工程设备制造商特雷克斯的股价上扬。这家公司总部设在康尼狄格州韦斯特波特，2012年实现了盈利增长。就在许多美国公司迟迟不招工的时候，特雷克斯设在华盛顿州的工厂雇佣了约500名工人，目的是满足客户更新换代所产生的需求。

Terex

    Fortune 500 rank: 351

    2012 sales: $7.3 bil

    2012 total return: 108.1%

    After the economic doldrums of the Great Recession, the many giants in the U.S. construction industry looked to replace their fleets of equipment spanning from cranes to aerial platforms.

    And Terex gained from the renewed demand. The Westport, CT-based construction equipment maker reported stronger earnings in 2012. And while many U.S. firms held off on hiring, Terex hired about 500 workers at Washington plants to meet demand from customers replacing aging machinery.

Dillard's公司

    《财富》500强排名：378

    2012年销售额：68亿美元（417.52亿元人民币）

    2012年总回报率：98.7%

    虽然许多成本意识很强的购物者可能停止消费，但百货公司Dillard's的股价在经济略有复苏之际依然出现了上涨。

    这家公司总部设在阿肯色州小石城，销售服装、饰品、鞋类和化妆品，竞争对手是梅西百货（Macy's）和Kohl's这样的零售商。Dillard's的目标群体是中产阶层和富裕的购物者，它的表现一直好于那些以价格敏感型顾客为主的百货公司。

Dillard's

    Fortune 500 rank: 378

    2012 sales: $6.8 bil

    2012 total return: 98.7%

    While many cost-conscious shoppers may have pulled back from spending, Dillard's gained amid a weak economic recovery.

    The Little Rock, Ark.-based department store chain, which competes with retailers such as Macy's and Kohl's, sells clothing, accessories, shoes and cosmetics. It caters to middle class and affluent shoppers, and it has fared better than those focused on price sensitive shoppers.

马拉松原油

    《财富》500强排名：33

    2012年销售额：768亿美元（4,715.52亿元人民币）

    2012年总回报率：94%

    这家石油冶炼和运输企业一直致力于通过股票回购和分红向股东返还现金，此举使该公司股价在2012年强劲上升。它通过股票回购向股东返还了14亿美元（85.96亿元人民币）现金，同时派发红利4.07亿美元（24.99亿元人民币）。

    马拉松原油的年报显示，2012年，这家公司的股价实现了翻番，全年总回报率达到了94%。

Marathon Petroleum

    Fortune 500 rank: 33

    2012 sales: $76.8 bil

    2012 total return: 94%

    The oil refining and transportation company has focused on returning cash to shareholders via stock buybacks and dividends, a move that sent the stock soaring in 2012. The company returned $1.4 billion to shareholders via stock buybacks and issued $407 million in dividends.

    Shares doubled in 2012 and total return for the year was 94%, according to the company's annual report.

Tesoro公司

    《财富》500强排名：95

    2012年销售额：325亿美元（1,995.5亿元人民币）

    2012年总回报率：89.8%

    这家炼油公司一直都在通过收购来实现增长。2012年，它斥资25亿美元（153.5亿元人民币）买下了英国石油（BP）设在加利福尼亚州南部的炼油和营销业务。这笔交易能让Tesoro的炼油能力提高近40%，成为加州炼油行业的主导者，但它还需通过反垄断审核。收购计划公布后，Tesoro的股价不断上涨。

Tesoro

    Fortune 500 rank: 95

    2012 sales: $32.5 bil

    2012 total return: 89.8%

    The oil refining company has a history of growing through acquisitions, and in 2012 it bought BP's refining and marketing business in southern California for $2.5 billion. The deal, which is pending an antitrust review, should increase Tesoro's refining capacity by nearly 40% and allow the company to be a dominant player in the state. The shares moved higher after the acquisition was announced.

Avis Budget Group公司

    《财富》500强排名：350

    2012年销售额：74亿美元（454.36亿元人民币）

    2012年总回报率：84.9%

    由于经济形势好转，去年美国出行人数增多，美国租车行业巨头Avis Budget Group的全年收入也因此达到了创纪录的74亿美元（454.36亿元人民币），比2011年增长了25%；每股收益也升至历史最高点，达到了每股2.72美元（16.70元人民币）。

    这家公司公布了向新市场扩张的计划，对Avis Europe的收购和整合就是具体表现。与此同时，Avis Budget Group还在积极削减成本。今年1月，它收购了汽车共享服务商Zipcar，后者的目标群体是比较年轻的城市消费者。此举有助于Avis Budget Group在这个快速整合的行业保持竞争力。

Avis Budget Group

    Fortune 500 rank: 350

    2012 sales: $7.4 bil

    2012 total return: 84.9%

    U.S. travel increased last year thanks to a stronger economy, helping the car rental giant see record revenue of $7.4 billion in 2012, up 25% from the previous year, as well as record earnings per share of $2.72.

    The company announced a plan to expand into new markets -- as evidenced by the acquisition and integration of Avis Europe -- all while aggressively cutting costs. This January, Avis bought the car sharing service Zipcar, which targets a younger, urban customer, a deal that helps keep Avis competitive in a rapidly consolidating industry.

吉利德科学公司

    《财富》500强排名：280

    2012年销售额：97亿美元（595.58亿元人民币）

    2012年总回报率：79.5%

    2012年，生物医药公司吉利德科学公司股价上涨的动力来自于抗艾滋病药物。这家公司的Truvada是美国食品药品监督管理局（FDA）批准的第一种用于降低艾滋病感染风险的药物。它的另一种抗艾滋病药物Stribild也已经通过了政府审批，是一种融合了四类药品的片剂，每天服用一次。

    去年，Stribild和这家公司另外两种抗艾滋病药物——Atripla与Complera的销售额已经接近40亿美元（245.6亿元人民币）。总体来看，这家公司的收入增长了16%，达到了97亿美元（595.58亿元人民币）。

Gilead Sciences

    Fortune 500 rank: 280

    2012 sales: $9.7 bil

    2012 total return: 79.5%

    The bio-pharmaceutical company's HIV treatments helped propel the stock higher in 2012. The treatment Truvada became the first medication approved by the FDA to be used to reduce the risk of HIV infection, and the government approved Stribild, a tablet that combines four medications into a complete, one-a-day HIV treatment.

    Last year Stribild, along with Gilead's other HIV treatments Atripla and Complera hit nearly $4 billion in sales. Overall, the company's revenue jumped 16% to $9.7 billion.

伊士曼化工

    《财富》500强排名：324

    2012年销售额：81亿美元（497.34亿元人民币）

    2012年总回报率：78.7%

    特种化工企业伊士曼化工把重点放在了对化工制造商Solutia的收购上，这笔交易的价值为34亿美元（208.76亿元人民币），能让基本以美国市场为中心的伊士曼化工进入中国等新兴市场（实施收购前，伊士曼化工逾一半销售额都来自北美）。伊士曼估算，今后几年，这项交易能让亚洲市场收入每年增长10%。

    伊士曼化工高层还告诉投资者，这次收购还能在2012-2015年间带来20亿美元（122.8亿元人民币）以上的现金流。这笔资金可用于收购其他公司，进入其他快速增长的市场。

Eastman Chemical

    Fortune 500 rank: 324

    2012 sales: $8.1 bil

    2012 total return: 78.7%

    The specialty chemical company focused on its $3.4 billion acquisition of Solutia, a chemical maker that gave the largely US-centric Eastman a presence in emerging markets like China. (Prior to the deal, more than half of Eastman's sales came from North America.) The company estimated that the deal would create 10% annual revenue growth in Asia over several years.

    Eastman executives also told investors that it would generate more than $2 billion in free cash flow between 2012 and 2015, which it could use to acquire more businesses and expand into other fast-growing markets.

Community Health Systems公司

    《财富》500强排名：184

    2012年销售额：150亿美元（921亿元人民币）

    2012年总回报率：77.6%

    去年夏天，《平价医疗法案》（Affordable Care Act）——也称奥巴马医改法案（Obamacare）——中的一项条款获得美国最高法院支持，给医院经营商Community Health Systems的股价带来了上涨动力。这项获得最高法院支持的条款要求个人在工作单位不提供医保的情况下自行购买医疗保险。最高法院作出裁决后，投资者认为医院将受益，原因是参加医保的美国人越多，到医院就诊的病人就会越多，特别是能够承担医疗费用的病人。

Community Health Systems

    Fortune 500 rank: 184

    2012 sales: $15 bil

    2012 total return: 77.6%

    The hospital operator got a boost when a piece of the Affordable Care Act -- also known as Obamacare -- was upheld by the Supreme Court last summer. The provision upheld by the court requires individuals to buy insurance if they aren't covered by their employers. After the ruling, investors expected hospitals to benefit because more insured Americans would mean more patients for hospitals, specifically more patients who could pay their bills.

舍尔温-威廉姆斯公司

    《财富》500强排名：282

    2012年销售额：95亿美元（583.3亿元人民币）

    2012年总回报率：74.4%

    2012年，涂料生产商Sherwin-Williams的股价随着住房市场开始出现复苏迹象而上涨。投资者认为有房一族和住房营建商将为涂料以及其他和改善居住环境有关的产品带来需求。

    这家公司将季度分红上调28%，从39美分提高到了50美分，此举必然会让股东感到高兴。34年来，舍尔温-威廉姆斯的分红水平每年都在上升。

Sherwin-Williams

    Fortune 500 rank: 282

    2012 sales: $9.5 bil

    2012 total return: 74.4%

    Shares of the paint maker rose in 2012 as the housing market began to show signs of recovery. Investors bet that existing owners and home builders would create demand for paint and other home improvement-related products.

    In a move sure to please shareholders, the company raised its quarterly dividend to 50 cents from 39 cents, an increase of 28%. Sherwin-Williams has raised its dividend every year for 34 years.

Computer Sciences公司

    《财富》500强排名：176

    2012年销售额：159亿美元（976.26亿元人民币）

    2012年总回报率：74.2%

    Computer Sciences为美国国家航空航天局（NASA）等政府客户度身定做物流管理软件。2012年，它把主要精力放在了技术和服务方面。为此它进行了裁员，还将信用服务部门以10亿美元（61.4亿元人民币）的价格转让给了Equifax。Computer Sciences公司称，交易所得资金中的一部分将用于回购股票和支付员工养老金。这项计划已经获得了投资者的同意。

Computer Sciences

    Fortune 500 rank: 176

    2012 sales: $15.9 bil

    2012 total return: 74.2%

    This company, which makes custom software to help government clients like NASA manage logistics, spent 2012 focusing the business on technology and services. To that end it laid off employees and sold its credit service unit to Equifax for $1 billion. The company said it would use some of the proceeds to buy back stock and to fund the corporate pension plan, and investors approved.

Jarden公司

    《财富》500强排名：383

    2012年销售额：67亿美元（411.38亿元人民币）

    2012年总回报率：74.2%

    消费产品巨头Jarden拥有Coleman、Sunbeam、Mr. Coffee、Rawlings和First Alert等品牌，2012年每股收益增长了20%以上。

    经济初步复苏和消费者信心增强当然对Jarden有利，但让它获得投资者认同的原因则是它决定斥资逾5.5亿美元（33.77亿元人民币）回购股票。

Jarden

    Fortune 500 rank: 383

    2012 sales: $6.7 bil

    2012 total return: 74.2%

    This big name in consumer products, with brands including Coleman, Sunbeam, Mr. Coffee, Rawlings, and First Alert, saw earnings per share increase by over 20% in 2012.

    While a nascent economic recovery and improved consumer sentiment certainly helped Jarden, investors approved of the company's decision to buy back more than $550 million worth of its own stock.

绍尔集团

    《财富》500强排名：426

    2012年销售额：60亿美元（368.4亿元人民币）

    2012年总回报率：73.3%

    工程建筑公司绍尔集团去年7月发布公告称，基础设施营建商Chicago Bridge & Iron将对它发起收购，报价约为30亿美元（184.2亿元人民币）。尽管投资者担心Chicago Bridge & Iron可能出价过高，但绍尔集团的股东可能对这笔交易很满意。(财富中文网）

    译者：Charlie

Shaw Group

    Fortune 500 rank: 426

    2012 sales: $6 bil

    2012 total return: 73.3%

    Shares of this engineering and construction company soared when it was announced in July that it would be acquired by the infrastructure company Chicago Bridge & Iron in a deal that valued Shaw at about $3 billion. While investors worried that Chicago Bridge & Iron was overpaying, Shaw shareholders were likely pleased with the deal.