MGP Ingredients to reopen Illinois plant AP (November 23, 2009) ATCHISON, Kan. (AP) - MGP Ingredients Inc. says it has entered a partnership that will allow it to reopen distillery operations at a plant in Pekin, Ill.
Salix Pharmaceuticals completes stock offering AP (November 23, 2009) NERALEIGH, N.C. (AP) - Salix Pharmaceuticals Ltd. said Monday it completed its public offering of 5.5 million shares of common stock.
Asia stocks mixed as figures on US economy awaited AP (November 23, 2009) SEOUL, South Korea (AP) - Asian stock markets were mixed Monday after a decline on Wall Street and as investors hunkered down ahead of a stream of figures that could confirm the U.S. economy is recovering at a slower pace. European shares were higher.
Campbell Soup earnings rise as expenses fall AP (November 23, 2009) MOUNT LAUREL, N.J. (AP) - Price-conscious grocery shoppers are being choosy about what they buy to cook at home, even from the value-oriented Campbell Soup Co.
Tyson Foods posts 4Q loss on charge, sales edge up AP (November 23, 2009) MILWAUKEE (AP) - Tyson Foods Inc. said Monday a hefty impairment charge in its beef business left it with a loss for the fourth quarter, but said its sales rose and its chicken business was profitable for the second straight quarter.
Rigel shares rise on RBC analyst upgrade AP (November 23, 2009) NEW YORK (AP) - Rigel Pharmaceuticals Inc. rose after an RBC Capital Markets analyst recommended buying shares of the drug developer based on his expectations the company will announce news of a partnership for a key drug candidate.
GM wants gov'ts to help pay $4.9 bn restructuring AP (November 23, 2009) BRUSSELS (AP) - General Motors Co. on Monday asked European governments to help pay most of the euro3.3 billion ($4.9 billion) it needs to restructure its struggling European operations.
Report: Russian billionaire buys Hitler's car AP (November 23, 2009) BERLIN (AP) - A German newspaper is reporting that Adolf Hitler's original Mercedes has been sold to an unidentified Russian billionaire for several million euros.
CDC Software 3Q profit rises on lower costs AP (November 23, 2009) NEW YORK (AP) - CDC Software Corp., a Chinese business software developer whose shares began trading in the United States last summer, said Monday its third-quarter profit rose 47 percent on lower costs and expenses.
Dr. Pepper Snapple board OKs $200M buyback AP (November 20, 2009) PLANO, Texas (AP) - Dr. Pepper Snapple Group Inc. said Friday that its board has approved the repurchase of up to $200 million of its outstanding shares over the next three years.
Huntington Bancshares to buy $338.9M in notes AP (November 20, 2009) COLUMBUS, Ohio (AP) - Huntington Bancshares Inc., parent company of Huntington National Bank, said Friday that it will pay $338.9 million for subordinated bank notes tendered for an offer that expired Thursday.
TD Ameritrade offering $1.25B in senior notes AP (November 20, 2009) NEW YORK (AP) - Online retail brokerage TD Ameritrade Holding Corp. said Friday that it will sell $1.25 billion in senior unsecured notes in a public offering and use proceeds to retire debt and stagger the maturity of its long-term bonds.
Gap profit climbs 25 percent in 3Q AP (November 19, 2009) CHICAGO (AP) - Shoppers spent more money at low-price Old Navy stores in the third quarter this year, helping Gap Inc.'s profit climb 25 percent compared with last year, the retailer said Thursday.
Casual Male Retail Group posts smaller 3Q loss AP (November 19, 2009) CANTON, Mass. (AP) - Casual Male Retail Group Inc., which sells men's clothing under the brand names Casual Male XL and Rochester Big & Tall, said Tuesday it posted a smaller third-quarter loss by trimming expenses and improving merchandise margins to offset weak sales.
Computer security co. Fortinet plans IPO this week AP (November 17, 2009) NEW YORK (AP) - Fortinet Inc. plans to go public Wednesday in an initial public offering, giving investors a chance to tap a network security provider with sales expected to grow.
United States Cellular to repurchase shares AP (November 17, 2009) CHICAGO (AP) - Wireless carrier United States Cellular Corp. said Tuesday its board has approved a new program to buy back up to 1.3 million shares per calendar year.
BioCryst Pharma to sell up to 5.75M new shares AP (November 17, 2009) BIRMINGHAM, Ala. (AP) - Flu drug developer BioCryst Pharmaceuticals Inc. said Tuesday it plans to sell as many as 5.75 million new shares of stock.
Union says Verizon laying off 1,000 AP (November 17, 2009) NEW YORK (AP) - The largest union for Verizon Communications Inc. workers said the phone company is laying off more than 1,000 employees in Washington, D.C., Maryland and Virginia.
Foxwoods fails to make full debt payment AP (November 17, 2009) NEW HAVEN, Conn. (AP) - Foxwoods Resort Casino, one of the world's largest, has failed to make a full payment on its debt, leading to a default and another credit-rating downgrade as casinos around the country struggle amid the severe recession.
RF Micro Devices buys back $197 million in notes AP (November 16, 2009) GREENSBORO, N.C. (AP) - Chip maker RF Micro Devices Inc. said Monday it has finished restructuring its debt, buying back $197 million in notes coming due next year. It also boosted its cash flow forecast.
TRW Automotive to offer $225M in senior notes AP (November 16, 2009) LIVONIA, Mich. (AP) - Car parts maker TRW Automotive Holdings Corp. said Monday that subsidiary TRW Automotive Inc. will offer $225 million in senior notes due 2015.
Wal-Mart offers clothes vendors new payment option AP (November 13, 2009) SAN FRANCISCO (AP) - Wal-Mart Stores Inc., the world's biggest retailer, is offering its clothing vendors a faster way to get paid.
Pioneer Southwest prices 2.7M common unit offering AP (November 11, 2009) DALLAS (AP) - Independent oil and gas company Pioneer Southwest Energy Partners LP on Wednesday priced a public offering of 2.7 million common units representing limited partner interests at $20.74 per unit.
Synovus downgraded on capital, regulation worries AP (November 11, 2009) NEW YORK (AP) - Shares of Synovus Financial Corp. tumbled to their lowest point in more than 17 years Wednesday after a Morgan Keegan analyst downgraded the regional bank, saying government pressure for banks to build capital reserves as well as ongoing credit issues will pressure the stock.
Belo prices $275 million in 8 percent notes AP (November 11, 2009) DALLAS (AP) - Belo Corp. said Wednesday it has priced a $275 million bond offering it plans to use for paying down a line of credit.
Macy's posts smaller 3rd-quarter loss AP (November 11, 2009) NEW YORK (AP) - Macy's Inc. is reporting a smaller loss in its third quarter from a year ago as the department store operator benefits from tight inventory controls and a move to localize merchandise to regional markets.
K-Swiss board authorizes $70 million stock buyback AP (November 11, 2009) WESTLAKE VILLAGE, Calif. (AP) - Athletic shoe and apparel company K-Swiss Inc. on Wednesday said its board authorized a new program to buy back up to $70 million in stock.
FirstMerit buying 24 branches of First Bank AP (November 11, 2009) AKRON, Ohio (AP) - FirstMerit Corp. said Wednesday that it will enter the Chicago-area banking market by buying 24 branches and $1.2 billion in deposits from First Bank for about $42 million.
Energy agency warns of falling investment AP (November 10, 2009) PARIS (AP) - The global financial crisis has led to a dangerous drop in energy investment around the world which could choke off the nascent economic recovery, the International Energy Agency said Tuesday.
Sprint, others give Clearwire $1.5B in financing AP (November 10, 2009) NEW YORK (AP) - Clearwire Corp. is getting an additional $1.5 billion in financing from previous investors to build out its nationwide wireless data network.
BofA says credit environment remains difficult AP (November 05, 2009) CHARLOTTE, N.C. (AP) - Bank of America Corp. on Thursday reiterated that the current credit environment will remain difficult into next year, as unemployment is likely to continue to rise.
MGM Mirage loses $750M as CityCenter's value drops AP (November 05, 2009) LAS VEGAS (AP) - MGM Mirage's latest casino project isn't open yet, but a drop in the $8.5 billion complex's value combined with falling revenue companywide to push the casino operator into the red in its third quarter, the company said Thursday.
Orbitz receives $100 million from 2 investors AP (November 05, 2009) CHICAGO (AP) - Online-travel company Orbitz Worldwide Inc. said Thursday it received equity investments totaling $100 million from two companies.
Insurer Cigna's 3Q profit grows 92 percent AP (November 05, 2009) INDIANAPOLIS (AP) - Managed care company Cigna Corp.'s third-quarter profit soared 92 percent, as improving equity markets spurred a big turnaround in a discontinued business that hurt the insurer last year.
Lax laws allow US companies to be used for crimes AP (November 05, 2009) WASHINGTON (AP) - Lax state laws allow arms traffickers, drug kingpins and money launderers to use U.S. companies to hide their illicit activities from investigators, government officials said Thursday.
Comcast 3Q profit up 22 pct, but growth slows AP (November 04, 2009) PHILADELPHIA (AP) - Comcast Corp. reported a 22 percent increase in third-quarter earnings, buoyed by an investment gain and a lower tax rate as it stepped up promotions on its bundled video, phone and Internet plans.
Pulte Homes posts $361.4M loss for Q3 AP (November 04, 2009) (AP) - Pulte Homes Inc. lost $361.4 million in the third quarter, but with the acquisition of Centex Corp., the homebuilder's new orders increased by more than a third.
National Retail Properties gets new $400M loan AP (November 04, 2009) ORLANDO, Fla. (AP) - Retail real estate investment trust National Retail Properties Inc. said Wednesday it has a new $400 million credit facility, which will replace one set to mature May 2010.
GM posts 1st monthly sales gain in almost 2 years AP (November 03, 2009) DETROIT (AP) - GM reported its first monthly gain in U.S. sales in almost two years while Toyota and Ford also improved, a sign the auto industry it starting to crawl back from a yearlong slump.
Medco Health 3Q profit jumps 13.5 percent AP (November 03, 2009) NEW YORK (AP) - Medco Health Solutions Inc., the largest U.S. pharmacy benefits manager, said Tuesday its profit rose 13.5 percent as the company gained new clients and benefited from price inflation of brand-name drugs.
Sprint laying off part of wholesale division AP (November 03, 2009) OVERLAND PARK, Kan. (AP) - Sprint Nextel Corp. says it plans to trim jobs "in the dozens" from its wholesale division amid slowing business.
Kraft profit falls nearly 40 percent in Q3 AP (November 03, 2009) NORTHFIELD, Ill. (AP) - Kraft Foods says slower sales and lower prices on food cut its third-quarter profit nearly 40 percent from a year earlier, but the company raised its forecast for the year.
Osiris gets $15M milestone payment from NuVasive AP (November 03, 2009) NEW YORK (AP) - Osiris Therapeutics Inc. said Tuesday it received a $15 million payment from NuVasive Inc., the final milestone fee linked to the sale of Osiris' bone graft stem cell business.
Cablevision Systems 3Q profit more than triples AP (November 03, 2009) (AP) - Cablevision Systems Corp. on Tuesday said its third-quarter profit more than tripled as a sluggish economy didn't deter subscribers from signing up for its digital cable, Internet and phone plans in the face of aggressive competition from Verizon's fiber-optic FiOS TV service.
Belo falls to loss on charges, declining ad sales AP (November 03, 2009) DALLAS (AP) - TV station owner Belo Corp. fell to a third-quarter loss, hurt by the weak advertising market and a one-time accounting charge.
Earnings Preview: Medco Health Solutions AP (November 02, 2009) NEW YORK (AP) - Medco Health Solutions Inc., the largest U.S. pharmacy benefits manager, is scheduled to report its third-quarter results Tuesday morning. The following is a summary of key developments and analyst commentary for the period.
Helped by swine flu, Clorox 1Q profit rises 23 pct AP (November 02, 2009) CHICAGO (AP) - The Clorox Co. said Monday profit rose 23 percent in its fiscal first quarter, as consumers paid higher prices and stocked up on disinfecting products because of worries about the flu.
Cooper Tire posts 3Q profit, shares rise AP (November 02, 2009) FINDLAY, Ohio (AP) - Cooper Tire & Rubber Co. said Monday it earned $46.8 million in the third quarter, citing lower raw material costs than a year ago, manufacturing improvements and higher sales volumes. Its shares rose more than 9 percent by late morning.
Mercury General declares dividend of 59 cents AP (November 02, 2009) LOS ANGELES (AP) - Mercury General Corp. on Monday said its board declared a quarterly dividend of 59 cents, up a penny above the prior year's payout.
Humana 3Q profit jumps on government programs AP (November 02, 2009) LOUISVILLE, Ky. (AP) - Health insurer Humana Inc. rode its strong government business in posting a 65 percent jump in third-quarter profit Monday, as bulging membership and premiums from Medicare Advantage overcame a lackluster commercial segment hampered by the weak economy.
Ford surprises with $1B profit; sees profit in '11 AP (November 02, 2009) DEARBORN, Mich. (AP) - Ford, the only Detroit automaker to dodge direct government aid and bankruptcy court, surprised investors with net income of nearly $1 billion in the third quarter and forecast a "solidly profitable" 2011.
Obama: Private, public sectors must create jobs AP (November 02, 2009) WASHINGTON (AP) - President Barack Obama said Monday the public and private sectors must find more ways to create jobs to continue the nation's climb out of an economic recession.
Apartment Investment & Management 3Q FFO falls AP (October 30, 2009) DENVER (AP) - Apartment Investment & Management Co. said Friday that its third-quarter funds from operations declined as rents and occupancy fell.
SEC staff issues acctg. guidelines for oil cos. AP (October 30, 2009) WASHINGTON (AP) - To help energy companies meet a requirement of providing more detailed information to investors when reporting oil and natural gas reserves, federal regulators issued new accounting guidelines Friday.
Pfizer shareholders to get vote on executive pay AP (October 29, 2009) NEW YORK (AP) - Drugmaker Pfizer Inc. said Thursday its shareholders will have input on compensation for company executives starting in 2010.
Cliffs Natural Resources has steep 3Q profit fall AP (October 29, 2009) CLEVELAND, Ohio (AP) - Cliffs Natural Resources Inc. said Thursday its third-quarter profit and revenue fell due to reduced volume in North American businesses and lower year-over-year iron ore pricing.
BMC Software posts 35 percent jump in 2Q earnings AP (October 29, 2009) HOUSTON (AP) - BMC Software Inc. said Thursday its fiscal second-quarter earnings jumped 35 percent, as falling expenses offset a slight decline in sales.
Las Vegas Sands posts wider 3Q loss as taxes rise AP (October 29, 2009) LAS VEGAS (AP) - Casino operator Las Vegas Sands Corp. on Thursday reported a larger third-quarter loss as gambling markets continued to struggle, taxes increased and the company pressed ahead on developing a resort in Singapore.
PerkinElmer profit tumbles on lower sales AP (October 29, 2009) WALTHAM, Mass. (AP) - PerkinElmer Inc., which supplies equipment and services to pharmaceutical and other companies, says third-quarter profit and sales fell, but the CEO said he was seeing encouraging signs.
Icahn offers to buy outstanding CIT Group debt AP (October 27, 2009) NEW YORK (AP) - Billionaire investor Carl Icahn offered Tuesday to buy bonds from CIT Group Inc.'s smaller bondholders at a discount as he tries to thwart a restructuring plan by the commercial lender.