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Barnes & Noble Rethinks Nook’s Future
Barnes & Noble warned that its third quarter results will be lower than the previous year, partly due to losses in the Nook Media division. The company has not been successful investing in digital media over the last few years.... More of this article »
AT&T’s Internet For Everything Plans (NYSE:T)
AT&T wants their customers to be able to connect everything to their wireless networks. The company plans to allow devices other than smartphones and tablets to connect to their network. Everything from cars, home security systems,... More of this article »
Earnings And Sales Continue To Fall At Dell (NASDAQ:DELL)
Dell has reported another disappointing quarter for sales and profits. These reports have shone light on a continuous downturn that has significantly affected shareholders. The company has struggled to stay profitable with shifts to... More of this article »
Lowe’s $1.8 Billion Take Over Offer Rejected (NYSE: LOW)
Lowe’s $1.8 billion takeover offer was rejected by Rona, a Canadian rival. Rona said that it was approached by Lowe’s with a “non binding” offer to pay 14.50 cents a share for the company. Rona said that it formally... More of this article »
Weak Demand Reduces Sony’s Quarterly Profit (NYSE: SNE)
Sony reported a 77% decrease in operating profit for the quarter that ended in June, a result far below analysts’ expectations. Operating profit for the period fell to ¥6.28 billion, or $80 million. Analysts had expected a 36%... More of this article »
Royal Bank of Scotland Loses $3B In First Half Of Year (NYSE: RBS)
Royal Bank of Scotland reported a net loss of £1.99 billion, or $3.09 billion, in the first half of the year. The bank recorded a £1.42 billion loss in the same quarter last year. Revenue fell 8%, to £13.29 billion. The bank’s... More of this article »
BP Announces Loss After Series Of Write-Downs (NYSE: BP)
BP reported a $1.4 billion loss for the second quarter. Investors were already discontented with the performance of the company and its first American chief executive, Robert W. Dudley and the earnings report did nothing to assuage... More of this article »
Pfizer Results Beat Analysts’ Expectations (NYSE: PFE)
Pfizer announced that the company’s net income increased by 25% in the second quarter. The company posted net income of $3.25 billion, or $0.43 a share, in the latest quarter. This was up from $2.61 billion, or $0.33 a share,... More of this article »
Hewlett-Packard Wins Suit Against Oracle (NYSE: HPQ)
A judge in California ruled in favor of Hewlett-Packard in a lawsuit over a decision by the Oracle Corporation to end support for certain H.P. manufactured servers. Oracle decided last March that it would no longer make new versions... More of this article »
Sale of Snack Unit Helps Increase Procter & Gamble’s Quarterly Profits (NYSE: PG)
The Procter & Gamble Company announced that the sale of its snacks division helped its income rise 45% in its fourth fiscal quarter. Procter’s net income rose to $3.63 billion, or $1.24 a share, from $2.51 billion, or $0.84... More of this article »
Toyota Announces Strong Profits In Latest Quarter (NYSE: TM)
Toyota announced strong profits for the first fiscal quarter of the year. Net profit for the April-to-June quarter increased to 290.3 billion yen ($3.71 billion), from 1.1 billion yen in the same quarter a year earlier. The number... More of this article »
GlaxoSmithKline Bids $3 Billion To Purchase Human Genome Sciences (NYSE: GSK)
GlaxoSmithKline announced plans to buy Human Genome Sciences for about $3 billion. Human Genome is a biopharmaceutical company, which have been in high demand for acquisition in recent years. As older treatments lose patent protection,... More of this article »
Software Patent Dispute Costs RIM $147 Million (NASDAQ: RIMM)
Research in Motion has been found liable for $147.2 million in damages for infringing patents held by Mformation Technologies. Mformation sued RIM in federal court in San Francisco in 2008, accusing it of infringement of two patents. ... More of this article »
Senate Rebukes HSBC Over Money Laundering (NYSE: HBC)
A 335-page Senate report says that executives at HSBC and regulators at the Office of the Comptroller of the Currency ignored warning signs and failed to stop illegal behavior by Mexican drug cartels looking to get cash back into... More of this article »
Microsoft Faces New Inquiry In Europe (NASDAQ: MSFT)
The European Commission announced a new set of antitrust proceedings against Microsoft. The European Commission said that the company failed to live up to a agreement made three years ago to give users of Windows software better... More of this article »
Yahoo Results Show Stall In Earnings (NASDAQ: YHOO)
Yahoo’s quarterly financial report shows that revenue and net income have stalled at last year’s levels. Yahoo’s revenue from online display ads rose just 2% in the second quarter compared with a year ago, and it continues... More of this article »
Expansion In China Causing Headaches For Apple (NASDAQ: AAPL)
Apple’s slow pace of expansion in China has been causing major headaches for the company. Apple’s stores in China are usually very crowded and customers often have to wait in long lines for repairs for their iPhones. Apple has... More of this article »
Campbell Soup Strikes Deal To Buy Bolthouse Farms (NYSE: CPB)
The Campbell Soup Company announced that it would buy food company Bolthouse Farms from the private equity firm Madison Dearborn Partners. Campbell will pay $1.55 billion in cash to close the deal. Denise M. Morrison, Campbell’s... More of this article »
WellPoint Makes Plans To Buy Amerigroup (NYSE: WLP)
WellPoint has agreed to buy Amerigroup in a $4.9 billion deal. The deal is one of WellPoint’s biggest since the company was created in a 2003 merger. The company has also recently acquired 1-800 Contacts, a contact lens retailer,... More of this article »
Bank of America Reports $2.5 Billion Profit (NYSE: BAC)
Bank of America reportedly earned $2.5 billion, or $0.19 a share, compared with analysts’ projections of $0.14 for the quarter. The bank reported revenue of $22.2 billion for the second quarter, slightly less than expected... More of this article »
GlaxoSmithKline Pays $3 Billion To Settle Fraud Claims (NYSE: GSK)
GlaxoSmithKline, the British drugmaker, announced an agreement to pay $3 billion in fines for promoting its antidepressants for unapproved uses and neglecting to report safety data about one of its diabetes drugs. The agreement also... More of this article »
Airbus Building Its First Factory In The United States (PINK: EADSF)
Airbus announced plans to invest $600 million over the next five years in building an assembly line in Mobile, Alabama for its A320 single-aisle jet. This will be the company’s first factory in the United States. Fabrice Brégier,... More of this article »
Setbacks Cause Delay In Release Of Research In Motion’s New BlackBerrys (NASDAQ: RIMM)
Research in Motion announced that its new line of BlackBerry phones will be delayed until next year. The company also announced a $518 million loss in the first quarter and plans to cut about 5,000 of its 16,500 employees. Issues... More of this article »
Microsoft Announces Intentions To Purchase Yammer (NASDAQ: MSFT)
Microsoft announced plans buy Yammer, a social network service for businesses. Yammer’s web-based service allows companies to create private social networks where employees can privately chat, shares files, and collaborate on projects. ... More of this article »
Oracle Announces Unexpected Results (NASDAQ: ORCL)
Oracle’s reported financial results exceeded Wall Street’s expectations. Oracle’s results indicate that there is still a strong demand for technology that helps companies automate administrative tasks. Oracle’s chief financial... More of this article »
Copyright Lawsuit Against Google’s YouTube Dismissed (NASDAQ: GOOG)
A French court dismissed a copyright lawsuit against Google’s YouTube, an online video-sharing platform that lets people post videos to the site. French television company TF1 filed the lawsuit and had sought €141 million, or... More of this article »
‘All Natural’ Claims Spur Lawsuit Against PepsiCo’s Tropicana Brand (NYSE: PEP)
Orange juice maker Tropicana has found itself facing lawsuits claiming that the company’s ‘all natural’ claims are false and misleading. Lawsuits filed across the nation claim that the company’s juice has been so heavily... More of this article »
Disney Opens Revamped California Adventure Park (NYSE: DIS)
The Walt Disney Company unveiled its revamped California Adventure park, sporting $1.1 billion worth of improvements. The overhaul was five years in the making. California Adventure is under pressure to live up to its promise,... More of this article »
Chinese Censorship Triggers Changes For Google (NASDAQ: GOOG)
Google has added software to its search page that warns users when they search a term whose results are likely to be blocked by Chinese authorities. The change is viewed as an improvement of the search experience for users based... More of this article »
G.M. Offers Lump Sum Payments To Lower Pension Obligations (NYSE: GM)
General Motors has announced plans to reduce its pension obligations by offering lump sum payments to thousands of white-collar retirees. Legal changes that went into effect this year provides a way for companies to offer lump-sum... More of this article »
Lockheed Announces Plans To Replace Striking Workers (NYSE: LMT)
Lockheed Martin announced that it had hired 300 temporary workers to replace striking union employees at its Fort Worth plant. 3,300 union workers went on strike on April 23. The workers are striking over the company’s proposed... More of this article »
Disney Announces Plans To Restrict Ads For Junk Food (NYSE: DIS)
Disney has announced plans to eliminate advertising for junk food products from its shows for children. The foods will have to meet the company’s nutrition standards for its advertising on children’s shows to be accepted. ... More of this article »
Air France Announces Plans To Cut Jobs And Streamline Operations (PINK: AFLYY)
Air France announced plans to reduce staff and reduce its short- and medium-distance fleet in an effort to cut costs. The airline said that services that are losing money and are deemed as having no prospect of making money would... More of this article »
Cisco Reports Income Increase In Third Quarter (NASDAQ: CSCO)
Cisco Systems reported that net income was up 22% in its fiscal third quarter, compared to the same quarter last year. Cisco reported net income of $2.2 billion, or $0.40 a share, for the quarter ended April 30. This is up from... More of this article »
Sony Reveals New Plan To Return To Profitability (NYSE: SNE)
Sony revealed its expectations to return to profit this year. For the current financial year, which runs through next March, Sony forecast a full-year net profit of ¥30 billion and expectations of an operating profit of ¥180 billion. ... More of this article »
Google’s Deal To Buy Motorola Mobility Completed (NASDAQ: GOOG)
Google announced the completion of its $12.5 billion acquisition of Motorola. Chief Executive Larry Page, a founder of Google, announced the news, saying, “Motorola is a great American tech company that has driven the mobile revolution,... More of this article »
Dish Network Goes To Court Over Ad-Skipping Feature (NASDAQ: DISH)
Opposing lawsuits were recently filed by Dish Network and three television networks over a new feature offered by Dish called Auto Hop. Auto Hop allows Dish subscribers to skip all the advertising automatically during most prime-time... More of this article »
HP To Eliminate 27,000 Jobs To Save $3.5 Billion Per Year (NYSE: HPQ)
Hewlett-Packard Co. has announced plans to cut 27,000 jobs in an effort to turn around the ailing company. This would be the largest payroll purge in HP’s 73-year history. The job cuts and other austerity measures are expected... More of this article »
Skechers Agrees To Pay $40 Million To Settle Toning Shoes Claims (NYSE: SKX)
Skechers has agreed to pay $40 million to settle complaints about its toning shoes. Federal regulators brought allegations that the company deceived consumers with claims that some of its sneakers could deliver toned legs, better... More of this article »
Societe Generale Sees 20% Drop In Profits In First Quarter (PINK: SCGLY)
Société Générale announced that its first-quarter net income decreased 20% from the same quarter a year earlier. The French bank said that its first-quarter net income fell due to unloaded assets and booking a charge on the cost... More of this article »
Nokia Reports Loss Of $1.2 Billion In First Quarter (NYSE: NOK)
Nokia reported a loss of €929 million (equivalent to $1.2 billion) in the first quarter of 2012. A year earlier, Nokia posted a €344 million profit. Sales plunged 29% to €7.4 billion from €10.4 billion a year earlier. ... More of this article »
Intel Predicts Increasing Growth Ahead (NASDAQ: INTC)
Intel reported that it’s net income for the first quarter of 2012 was $2.7 billion, or $0.53 a share. This was a drop of 13.4% from $3.2 billion, or $0.56 a share, a year ago. Revenue was up slightly to $12.9 billion from $12.8... More of this article »
eBay Exceeds Forecasts With First Quarter Results (NASDAQ: EBAY)
eBay’s net income increased 20% in the first quarter, to $570 million or $0.44 a share, from the same quarter a year earlier. Revenue increased 29% to $3.3 billion. Net income was $0.55 a share, excluding special items. This... More of this article »
Sony’s Takeover Of EMI Inches Closer To Approval (NYSE: SNE)
Citigroup reached a deal last year to split EMI Music Publishing between Sony and the Universal Music Group. Universal bid $1.9 billion for the company’s record labels and Sony pledged $2.2 billion for the rest of the company. ... More of this article »
Fiat-Owned Chrysler’s First Quarter Results Surpass Expectations (PINK: FIATY)
Chrysler earned $473 million in the first quarter of 2012. This figure was more than quadruple its $116 million profit in the period a year earlier. It is also more than the company’s entire net income for 2011. Chrysler’s... More of this article »
Nintendo Reports First Ever Operating Loss (PINK: NTDOY)
Nintendo reported its first operating loss ever for the financial year ending March 31. The company reported a deficit of ¥37.3 billion, or $460 million. The results were slightly better than analysts’ forecast of a ¥41.4 billion... More of this article »
Wal-Mart’s Mexico Operations Probed By Attorney General (NYSE: WMT)
In Mexico, the attorney general’s office launched a preliminary investigation into whether Wal-Mart Stores bribed officials to expand its business. A New York Times report revealed a pattern of suspicious payments made to various... More of this article »
Revenue Increases Mean Higher Profits For Wells Fargo (NYSE: WFC)
Wells Fargo saw an increase of 13% in profits for the first quarter. The company reported earnings of $4.2 billion, or $0.75 a share. The results were higher than the $0.73 a share forecasted by analysts. Revenue increased to... More of this article »