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US Business Inventories Remain Unchanged in June
Inventories of businesses in the United States remained unchanged in June as companies excluding the auto industry cut back on restocking. This could affect the estimates for economic growth of the nation in the second quarter. The... More of this article »
US Wholesale Inventories Drop for 3rd Straight Month
Inventories at wholesalers in the United States surprisingly dropped in June for the third month in a row. This was the longest streak in almost four years and was attributed to the increase in demand. Stockpiles decreased 0.2 percent... More of this article »
Soybean and Corn Up on Friday Trading
Corn and soybean were higher Friday. This was attributed to the bargain buying of end users that helped drive the agricultural markets higher after a selloff. Wheat was also up after two sessions of drop in a row due to pressure from... More of this article »
Blackberry Going Private Might Make Business Sense
A deal that would take Blackberry private might make business sense from a financial standpoint, said executives from private equity. However, any type of move would not alone make the maker of smartphones any more competitive. The... More of this article »
Slim Makes $9.6 Billion Unsolicited Offer
America Movil, on Friday unveiled a $9.6 billion unsolicited bid to purchase the majority stake in Dutch Royal KPN, that it does not already own. The bid possibly halts the proposed sale of the German unit of KPN and creates a European... More of this article »
Time Warner Reports 87% Increase in 2nd Quarter Income
Time Warner released its second quarter net income report that showed it increased 87 percent to $771 million. This was due to the higher TV ad sales and strong box office performances of Warner Bros that offset the drop in its magazine... More of this article »
Molson Coors Reports Above Expectations Profit
Molson Coors Brewing Co reported higher than estimate quarterly profit that was attributed to the company’s acquisition of Central European brewer Starbev in June 2012. After the release of the report, the company’s shares increased... More of this article »
J.C. Penney Hires Berman from Kraft to Turn Brand Around
Department store chain J.C. Penney hired Debra Berman from Kraft Foods Group Inc. as senior vice president of marketing. The move was made in the hopes that she can rally the company from its worst sales year in more than two decades.... More of this article »
Europe’s largest bank misses mark
The largest bank in Europe HSBC slid in trading in London following the release of its earnings that missed estimates of analysts. CEO Stuart Gulliver announced that the fast growing emerging markets for the banks are now starting... More of this article »
Mortgage Rates Get First Increase in Three Weeks
Mortgage rates in the United States increased for the first time in three weeks as it continued an upward trend that has started to affect home sales. The average rate for a 30 year fixed mortgage went up to 4.39 percent in the week... More of this article »
J.C. Penney denies it has a Credit Squeeze
J.C. Penney attempted to assure its investors on Thursday that the company is not facing a credit squeeze, however two analysts have recommended that their clients sell the stock. Shares of the company’s stock were up during premarket... More of this article »
US Home Prices in May Reach Highest Level since 2006
Home prices in May increased the most since 2006. This is an indicator that the recovery in residential real estate got some momentum. The S&P/Case-Shiller index of property values increased 12.2 percent from May 2012. This was... More of this article »
Yahoo Buying Back Millions Of Shares From Investor (NASDAQ:YHOO)
Activist hedge fund Third Point LLC has announced an agreement to sell two-thirds of its stake in Yahoo Inc back to the company for a profit. Third Point has agreed to sell 40 million of its shares back to the company and keep about... More of this article »
Another Executive Change at Yahoo! (NASD: YHOO)
Yahoo! Inc (NASD: YHOO) has announced that said David Dibble, the company’s senior vice president of central technology, has resigned. The news is rather unexpected, but perhaps a sign of the continuing changes being put in place... More of this article »
Target (NYSE: TGT), Wal-Mart (NYSE: WMT), J.C. Penney (NYSE: JCP), and Sears (NASD: SHLD) Bring On Back To School Shopping
While the calendar has not yet turned from July to August yet, the onslaught of back to school shopping commercials have commenced, and early signs indicate it will be a brutal battle amongst the nation’s largest retailers to get... More of this article »
Amazon (NASD: AMZN), Dell (NASD: DELL) Post Disappointing Results
Amazon (NASD: AMZN) and Dell (NASD: DELL), once high fliers in the tech industry, seem to have fallen on tough times recently, albeit for very different reasons. Today, both firms posted disappointing earnings, and their stock prices... More of this article »
Apple and Samsung Domination of Smartphone Market Over
Samsung and Apple get new competition in the smartphone market as the two companies’ combined market share dropped to 43 percent in the second quarter from 49 percent the previous year. This was according to the research firm IDC. Old... More of this article »
Elan to be acquired by Perrigo
Perrigo Co, a maker of medicines sold over the counter and based in the United States, has agreed to purchase Elan Corp, an Irish drug maker for $8.6 billion in order to gain a lower tax base for its expansion internationally. Those... More of this article »
Zynga Shares Fall after Dropping Plans for Online Gambling
Zynga, which is a social networking games company, dropped the most in a year after it announced the abandonment of its plans to venture into the online gambling business in the United States. The company is known for games such as... More of this article »
US Demand Offset Slowdown in Europe to Give GM Profit
The strong demand for GM vehicles in North America helped the company earn second quarter profit above the estimated $1.2 billion. It offset the problems the company faced in the European car market. The largest US motor manufacturer... More of this article »
HanesBrands Acquires Maidenform
HanesBrands Inc. announced that it has bought Maidenform Brands Inc. The deal is worth at $575 million. It is the union of two major companies in the delicates business. HanesBrands is known for the brands Hanes, Playtex, Champion,... More of this article »
E-Bay (NASD: EBAY), Google (NASD: GOOG), and Amazon (NASD: AMZN) Competing in Growing Same Day Delivery Space
Online retail giant Amazon (NASD: AMZN) has led the way in the industry, pioneering much of the virtual marketplace as we know it today. In recent years the firm has sought to overcome one of the major issues in e-commerce, the delay... More of this article »
Netflix (NASD: NFLX) Results Impressive, But Stock Sinks Anyway
By and large, market observers came in yesterday expecting Netflix (NASD: NFLX) to post disappointing earnings that would push the stock down. Looking back now, only one of those two things happened. Netflix’s second-quarter... More of this article »
FAA wants 787 inspections following Fire
The Federal Aviation Administration has called for airlines to inspect the emergency transmitters in every Boeing 787 Dreamliner after investigators in Britain traced a fire in a parked plane back to a transmitter. On Saturday, a proposal... More of this article »
Intel Slashes Annual Revenue Estimate as PC Sales Decline
Intel managed to reach its earnings target but it slashed its full year revenue forecast due to the drop in PC sales and the transition toward smartphones and tablets. Shares initially increased after-hours but it dropped 4 percent... More of this article »
China expected to pass U.S. as biggest Superpower
A new survey by the Pew Research Center of more than 38,000 people across 39 countries found that the majority belief China is on its way to surpassing the U.S. as the world’s top superpower. In just six of the 39 countries did a... More of this article »
US Homebuilder Confidence Grows More than Estimate
Homebuilder confidence in the United States increased more than the estimate in July to the highest level since January 2006 as companies became more upbeat about sales prospects. The National Association of Home Builders/Wells Fargo... More of this article »
Coca-Cola Income Falls
Coca-Cola Co. announced that its profit had fallen by 4% during the last quarter, which was the second consecutive quarter profit dropped, as sales were hit by weakness in the economy in Europe and China, shifting tastes buds in the... More of this article »
Consumers Keep their Buying in Check in June
American consumers have kept their buying in check in June. They bought less goods last month as an indicator of a weak second quarter. Sales at retailers increased 0.4 percent in June, which was below the 0.8 percent gain that was... More of this article »
US Airways Shareholders Approve Merger with American Airlines
Shareholders of US Airways have given their approval to the pending merger with American Airlines. The step will give the company a step towards becoming the biggest carrier in the world. US Airways CEO Doug Parker made the announcement... More of this article »
Twinkies Presented At Wal-Mart Shops
Twinkies come back to Wal-Mart stores ahead of schedule. The retailer said that it will start selling the cakes at around 1,600 locations beginning Friday. The retailer added that around 3,000 of its 4,000 stores in the United States... More of this article »
India Ends Telegram Service
After more than 162 years, the telegram service inside India was stopped. Thousands of people from India jammed into the telegram offices Sunday to send one last souvenir message to family or friends before the service was discontinued. Sunday... More of this article »
UPS Cuts 2nd Quarter Outlook
UPS reported that its second quarter earnings will be lower than its previous expectation as customers opted for cheaper options as well as an oversupply in the air freight business. The logistics and package delivery company said... More of this article »
Earnings Forecast Cut by UPS for 2013
The biggest package delivery company in the world, the United Parcel Service Inc lowered its 2013 forecast for earnings, saying the U.S. economy slowdown has hurt its revenue and profit for the second quarter. After the announcement... More of this article »
US Retailers Agree to a Factory Safety Pact in Bangladesh
17 retailers and clothing makers from the United States have agreed to a five year pact with the goal of improving conditions at Bangladesh apparel plants. Some of the companies include Target, Walmart, and Gap. The companies agreed... More of this article »
Disney Revamps Classic Beach Movie For New Audience (NYSE:DIS)
Disney Channel has decided to gamble on a movie genre that used to be popular when your grandparents were kids. Next month, Disney’s young viewers will be introduced to the beach party film. Beach party films, like “Beach Blanket... More of this article »
CEO at Barnes & Noble Resigns
The CEO at Barnes & Noble, the U.S. chain of bookstores, resigned amidst negative sales figures of the chain’s Nook tablets and other electronic devices. William Lynch’s resignation comes only days after the bookstore chain... More of this article »
Crude Options Volatility Remains near Highest Level
Crude options volatility remained near its highest level, which it reached last April. Futures closed at a 14 month high. These were attributed to the strong job gains in the US and the unrest in Egypt. Implied volatility for at-the-money... More of this article »
Morningstar Reports Credit Card Data Leak
Morningstar said that personal data, such as credit card details, of around 2,300 users of the company’s Morningstar Document Research service have been compromised because of a security breach last year. The company said that the... More of this article »
Even With New Release, BlackBerry Posts Loss (NASDAQ:BBRY)
Despite the release of a highly anticipated new line of phones, BlackBerry posted another loss for the latest quarter. In the first full quarter of sales after the release of new models, BlackBerry reported that it shipped 6.8 million... More of this article »
Nestle and Danone Investigated by China
China is currently investigating foreign companies that produce milk-powder including Nestle SA and Danone for the possible violation of laws regarding anti-monopoly and for having too high prices, according to a report from an unnamed... More of this article »
Oil Price Increase to Impact Stocks and Economy
The price of crude oil reached its highest level in over a year. It traded above $1.2 per barrel due to the problems in Egypt as President Mohammed Morsi pledged not to resign despite the demands of millions of protestors. Stock market... More of this article »
US Manufacturing Goes Up as Orders Increase
Manufacturing in the United States went up in June as orders increased. Factory reports from Japan to the United Kingdom indicated stabilization in the global economy. According to the Institute for Supply Management, US manufacturing... More of this article »
Top Travel Apps for Small Businesses
Travel is vital for most small businesses to achieve success. Travelling can be troublesome without the right knowledge and tools. Now you can get all these via your smartphone. Below are some of the recommended small business travel... More of this article »
Noodles & Co Doubles its Shares in IPO
Restaurant chain Noodles & Co saw its shares double during their initial public offering. The chain known for its casual atmosphere and fast service has a value of over $1.07 billion. Its shares closed at $35.20, with was an increase... More of this article »
S.E.C. Rebukes Billionaire On Failed Revlon Deal (NYSE:REV)
The Securities and Exchange Commission has announced that Revlon agreed to pay an $850,000 penalty to settle accusations of deceiving shareholders and its independent directors in connection with the failed attempt in 2009 to take... More of this article »
Jobless Benefits Applications Drop 9,000 Last Week
Less Americans filed for unemployment claims last week. This was a sign that employers are slowing their rate of firings as the economy’s outlook becomes brighter. Jobless claims declined 9,000 to 346,000 in the week that ended June... More of this article »
Google Threatening Adult Themed Blogger Pages
Internet search giant Google says that as of July 1, if a Blogger page contains adult content as well as ad-monetization, it will be shut down. It appears that Google, the platform’s owner, is not happy with the adult-themed sites.... More of this article »