World stocks fall as US jobless rate hits 10.2 pct AP (November 06, 2009) LONDON (AP) - European stocks fell and Wall Street was expected to drop on the open Friday after data showed the U.S. unemployment rate jumped to 10.2 percent in October, more than expected, as 190,000 jobs were cut.
Stock futures drop after unemployment rate jumps AP (November 06, 2009) NEW YORK (AP) - Stock futures sank Friday after the government said more jobs were lost in October than expected, pushing the unemployment rate above 10 percent for the first time since 1983.
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.
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.
PlainsCapital postpones IPO, citing volatility AP (November 05, 2009) DALLAS (AP) - Texas bank PlainsCapital Corp. late Wednesday postponed its initial public offering, blaming market swings in financial stocks.
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.
Feds: 14 charged in insider trading case AP (November 05, 2009) NEW YORK (AP) - Federal prosecutors say criminal charges have been filed against 14 people, including attorneys and Wall Street professionals, in a widening $25 million insider trading case that has already snared one of the richest men in America.
World stocks down ahead of European rate decisions AP (November 05, 2009) LONDON (AP) - World stock markets fell Thursday after the U.S. Federal Reserve cautioned about the wider economic impact of rising unemployment. Investors awaited interest rate decisions in Europe later in the day.
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.
Ancestry.com hopes to raise $100 million in IPO AP (November 04, 2009) NEW YORK (AP) - Genealogy Web site Ancestry.com hopes to raise about $100 million when it goes public this week. With more than a million paying subscribers, little competition, a small debt load and a record of increasing revenues, it may fare better than other IPOs that have recently priced below their filing ranges.
Earnings cheer boosts European stocks ahead of Fed AP (November 04, 2009) LONDON (AP) - European stock markets recovered Wednesday, helped by upbeat earnings reports across the region ahead of the latest economic update from the U.S. Federal Reserve.
Asia stocks rise as China growth forecast upgraded AP (November 04, 2009) BANGKOK (AP) - Asian stocks recovered Wednesday after two days of losses as the World Bank raised its growth forecast for China's economy and stronger commodities prices lifted the region's powerhouse resource companies. European markets were higher.
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.
World markets fall as US recovery doubts linger AP (November 03, 2009) BANGKOK (AP) - World stock markets were lower Tuesday despite improvement in U.S. manufacturing as doubts lingered about the durability of a rebound in the world's largest economy.
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.
Berkshire Hathaway OKs 50-for-1 split of B-shares AP (November 03, 2009) NEW YORK (AP) - Warren Buffett's Berkshire Hathaway Inc. is sending a plan to split the iconic company's Class B shares to a shareholder vote as part of its plan to buy the Burlington Northern Santa Fe Corp.
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.
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.
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.
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.
Cedar Fair shares tumble on 3Q profit, sales AP (November 03, 2009) SANDUSKY, Ohio (AP) - Amusement park operator Cedar Fair Entertainment Co. said Tuesday that profit rose in the third quarter from a year-ago period hurt by charges, but weaker-than-expected revenue sent the company's shares tumbling 27 percent.
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.
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.
Court seems unlikely to get involved in fee fight AP (November 02, 2009) WASHINGTON (AP) - Several Supreme Court justices seemed unsympathetic to calls for the court to get involved in setting fees for mutual funds, a common form of retirement investment.
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.
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.
Alcatel-Lucent Q3 loss widens to $269 million AP (October 30, 2009) PARIS (AP) - Telecommunications equipment maker Alcatel-Lucent SA saw its net loss widen in the third quarter as European phone companies, its key customers, cut back on spending.
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.
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.
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.
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.
European stocks flat ahead of US GDP data AP (October 29, 2009) LONDON (AP) - European stock markets traded flat on Thursday as investors awaited quarterly growth data from the U.S. later in the day for insight into the state of the world's biggest economy.
Asian stocks slide on gloomy US news AP (October 29, 2009) BEIJING (AP) - Asian stock markets fell for a third day Thursday after signs of weakness in the U.S. housing market added to fears about the health of the global economic recovery. European shares were mixed.
World markets fall after weak US consumer report AP (October 28, 2009) HONG KONG (AP) - Global stock markets dropped Wednesday as more signs American consumers were struggling undermined hopes for a stronger turnaround in the world's largest economy.
Stock futures little changed ahead of opening AP (October 27, 2009) NEW YORK (AP) - Stock futures are little changed as investors prepare for new reports on home prices and consumer confidence.
Europe gains after BP earns beat forecasts AP (October 27, 2009) LONDON (AP) - European markets were pushed higher by oil stocks Tuesday after BP's third-quarter results beat analysts' expectations. Asian indexes closed lower, following losses on Wall Street the previous day amid fears that equities have become overvalued.
Vishay to spin off 2 businesses to shareholders AP (October 27, 2009) MALVERN, Pa. (AP) - Vishay Intertechnology Inc. said Tuesday it plans to spin off its measurements and foil resistor businesses into an independent, publicly traded company called Vishay Precision Group Inc.
Beating the Street is an easy feat for companies AP (October 26, 2009) CHICAGO (AP) - More than 80 percent of major companies reporting third-quarter results this month have beaten Wall Street expectations. So is business that good? No. Are companies gaming the system? Yes.
Markets rise on SKorea growth; oil earns awaited AP (October 26, 2009) LONDON (AP) - European markets rose modestly Monday as investors looked ahead to oil company earnings later in the week. Asian markets rose as South Korea's fastest growth in over seven years underscored the region's strengthening economic recovery.
World markets gain as earnings spur recovery hopes AP (October 23, 2009) BANGKOK (AP) - World stock markets rose Friday, spurred by another batch of optimistic quarterly reports from major companies in the U.S. and Asia even as worries remained that this year's rally has overshot reality.
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.
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.
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.
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.
Stock futures point to lower opening AP (October 22, 2009) NEW YORK (AP) - Stock futures are pointing toward a modest decline at the open, continuing a sell-off that began late in trading a day earlier.
World markets drop on China growth worrries AP (October 22, 2009) LONDON (AP) - World stock markets fell sharply Thursday as investor optimism was dented by a broker downgrade of U.S. bank Wells Fargo and concerns about future Chinese economic growth.
Imperial Capital plans to raise $150M in IPO AP (October 22, 2009) NEW YORK (AP) - Investment bank Imperial Capital Group Inc. said late Wednesday it filed for an initial public offering to raise as much as $150 million by selling common stock.
World stocks lower ahead of more US earnings AP (October 21, 2009) LONDON (AP) - World stock markets fell modestly Wednesday after soft U.S. housing data reined in some of the optimism generated by a raft of better-than-expected earnings.
SEC looks at changes for 'dark pools' AP (October 21, 2009) WASHINGTON (AP) - Federal regulators considered tighter oversight Wednesday for so-called "dark pools," trading systems that don't publicly provide price quotes and compete with major stock exchanges.
Investors lap up Apple's 47 percent profit jump AP (October 20, 2009) SEATTLE (AP) - Wall Street knew Apple Inc.'s results for the most recent quarter would blow past the company's guidance, but investors clearly weren't prepared for the 47 percent jump in profit that Apple delivered.
Asian stocks up after US earns; Europe shares down AP (October 20, 2009) HONG KONG (AP) - Most Asian stock markets climbed Tuesday as a rash of better-than-expected earnings reports from major U.S. companies buttressed confidence in the world economy. European markets were lower.
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.
World stocks rise as US earnings, China data eyed AP (October 19, 2009) HONG KONG (AP) - Asian stock markets were mostly higher Monday as investors looked to bellwether U.S. companies and China for guideposts to the strength of recovery in two major economies. European stocks also rose.
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.
Ariz. plans securities sales for budget maneuver AP (October 19, 2009) PHOENIX (AP) - Arizona officials say they plan to offer securities to individuals and institutional investors to ease the state's budget crisis by borrowing against prisons and other state properties.
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.
Asia stocks higher as US earnings, China data eyed AP (October 19, 2009) HONG KONG (AP) - Asian stock markets were mostly higher Monday as investors looked to bellwether U.S. companies and China for guideposts to the strength of recovery in two major economies.
House banking panel votes to regulate derivatives AP (October 15, 2009) WASHINGTON (AP) - A House panel voted Thursday to regulate for the first time privately traded derivatives, the kind of exotic financial instruments that helped bring down Lehman Brothers and nearly toppled American International Group.
The whys and hows of regulations on derivatives AP (October 15, 2009) WASHINGTON (AP) - A House bill would impose new restrictions on a series of complicated financial transactions that had traded in private markets around the world without regulations. One type of these specialized derivative instruments, called credit default swaps, was blamed for the crisis that hit Wall Street last year.
Eurand, shareholders offering 8.5 million shares AP (October 15, 2009) NEW YORK (AP) - Drug developer Eurand NV said Thursday it and certain shareholders plan to publicly offer a combined 8.5 million shares of common stock.
Calpers reviewing fees paid to outside manager AP (October 15, 2009) NEW YORK (AP) - The nation's largest pension fund, the California Public Employees' Retirement System, says it is investigating fees paid to an outside manager that directed the fund's investments.
Intel gives world markets a boost AP (October 14, 2009) LONDON (AP) - World stock markets rallied Wednesday after an upbeat earnings statement from Intel Corp., the world's largest chipmaker, and China's economy showed more signs of a recovery.
National Amusements to sell shares of Viacom, CBS AP (October 14, 2009) NEW YORK (AP) - Media mogul Sumner Redstone's holding company, National Amusements Inc., said Wednesday it is selling a portion of its stake in CBS Corp. and Viacom Inc. to pay off its debts.
World stocks up as tanking dollar boosts oil, gold AP (October 14, 2009) HONG KONG (AP) - Global stock markets rose Wednesday as China's economy showed more signs of recovery and oil prices touched a new high for the year above $75 a barrel.
Stocks surge on Intel, JPMorgan reports AP (October 14, 2009) NEW YORK (AP) - Surprisingly strong earnings reports from Intel and JPMorgan Chase are sending stocks sharply higher in early trading.
Blackstone CEO sees brighter future for dealmaking AP (October 14, 2009) DUBAI, United Arab Emirates (AP) - The head of private equity giant Blackstone Group said Wednesday the industry's worst days have passed as he confirmed plans to cash in on up to eight of the firm's companies "in the near future."
Intuit nominates David Batchelder as director AP (October 13, 2009) MOUNTAIN VIEW, Calif. (AP) - Financial software company Intuit Inc. said David Batchelder will be added to its board's slate of nominees standing for election at its 2009 annual shareholder meeting.
German investor confidence slips in October AP (October 13, 2009) FRANKFURT (AP) - German investor confidence dipped in October as mixed economic data suggested Europe's biggest economy will recover only slowly, a closely watched survey showed Tuesday.
RailAmerica begins trading today under symbol "RA" AP (October 13, 2009) JACKSONVILLE, Fla. (AP) - RailAmerica Inc. said its shares, which begin trading Tuesday, priced at $15 each, raising about $330 million.
Chaparral Energy in deal to go public AP (October 13, 2009) OKLAHOMA CITY (AP) - Privately held oil and gas producer Chaparral Energy Inc. would go public as a result of a deal with United Refining Energy Corp., a company created two years ago to make deals in the energy business.
World stock markets mixed ahead of US earnings AP (October 13, 2009) HONG KONG (AP) - Most Asian stock markets advanced Tuesday, with Tokyo and Hong Kong indexes gaining almost 1 percent, as investors looked to earnings reports from major U.S. companies for insight about the economy. European markets fell.
Texas Industries, dissidents blast each other AP (October 12, 2009) NEW YORK (AP) - A second proxy advisory firm urged Texas Industries Inc. shareholders Monday to support director nominees and governance proposals by a dissident stock holder group as both the cement maker and the dissidents traded accusations ahead of the annual meeting next week.
US stock futures higher as earnings loom AP (October 12, 2009) NEW YORK (AP) - U.S. stock futures are signaling a higher market opening at the start of a busy week of earnings.
Philips profit boosts European markets AP (October 12, 2009) LONDON (AP) - European stock markets rose strongly Monday as investor sentiment was buoyed by better than expected third-quarter profits from Royal Philips Electronics NV at the start of a week when earnings statements around the world will be the main focus of attention.