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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
ING to split itself, issue $11.3B of shares AP (October 26, 2009) AMSTERDAM (AP) - European services giant ING Groep NV said Monday it will split itself in two, spinning off its insurance arm to simplify its business and issuing euro7.5 billion ($11.3 billion) in new shares to repay state bailout money.
House panel's probe targets big mortgage lenders AP (October 23, 2009) WASHINGTON (AP) - A House panel is investigating the role of mortgage lenders in the financial crisis and is seeking information from some of the biggest U.S. companies to determine if they used deceptive practices to lure borrowers into the housing boom.
Chipotle shares fall after 3Q results AP (October 23, 2009) CHICAGO (AP) - Shares of fast food chain Chipotle Mexican Grill Inc. fell Friday, a day after the burrito maker offered disappointing growth forecasts for 2010.
Tenneco shares rise on investor optimism AP (October 23, 2009) NEW YORK (AP) - Shares of Tenneco Inc. rose Friday on expectations that the auto parts supplier's sales will benefit from increased vehicle production and tightening emissions standards for light and commercial vehicles across the globe.
UQM Technologies prices 7.5M common stock offering AP (October 23, 2009) FREDERICK, Colo. (AP) - UQM Technologies Inc., which makes generators and electric motors, on Friday priced its 7.5 million share common stock offering at $4 per share, an 8.4 percent discount from its Thursday stock closing price.
Hertz completes notes issuance AP (October 23, 2009) PARK RIDGE, N.J. (AP) - Rental car company Hertz Global Holdings Inc. said Friday that its subsidiary, Hertz Vehicle Financing LLC, has completed isuing $1.2 billion in medium term notes.
Navistar to issue $1.5 billion debt offering AP (October 20, 2009) WARRENVILLE, Ill. (AP) - Truck maker Navistar International Corp. on Tuesday said it plans to issue $1.5 billion in new debt that it will use to repay an outstanding loan.
CIT still might face bankruptcy after debt swap AP (October 19, 2009) NEW YORK (AP) - Struggling lender CIT Group Inc. warned Monday that it might still have to file for bankruptcy protection even if it completes a revised debt restructuring plan.
JDA Software swings to loss on $8.6M payment AP (October 19, 2009) SCOTTSDALE, Ariz. (AP) - JDA Software Group Inc. reported a third-quarter loss on Monday, pushed into the red by an $8.6 million payment related to the repurchase of preferred stock.
Icahn offers CIT Group $6 billion loan AP (October 19, 2009) NEW YORK (AP) - Billionaire investor Carl Icahn is offering struggling lender CIT Group a $6 billion lifeline.
Hasbro 3Q net income rises 8.8 percent AP (October 19, 2009) NEW YORK (AP) - Hasbro says its profit grew 8.8 percent in the third quarter, helped by lower costs and slightly higher sales of Transformers and G.I. Joe toys.
IPhone helps Apple profit rise 47 pct; stock leaps AP (October 19, 2009) SEATTLE (AP) - Apple Inc. increased its net income 47 percent in the most recent quarter as more people bought Mac computers and gave in to the iPhone craze. The results sent Apple shares surging in extended trading Monday to an all-time high.