Home » Archive for July, 2013

Image for Chrysler Lowers Full Year Earnings Target

Chrysler Lowers Full Year Earnings Target

Chrysler Group has lowered its full-year earnings target, even though its profit during the second quarter was up 16% on a higher demand for Ram pickups and the Jeep Cherokee. Net income was up to close the quarter at $507 million,... More of this article »
Image for Omnicom Merges with Publicis to Form Largest Ad Company

Omnicom Merges with Publicis to Form Largest Ad Company

Omnicom Group and Publicis Groupe announced their merger that will form the world’s biggest advertising holding company. The combined company will have a market cap of $35 billion. The company will be known as Publicis Omnicom Group. The... More of this article »
Image for Two Advertising Giants to become One

Two Advertising Giants to become One

Omnicom and Publicis two of the world’s biggest advertising giants said on Sunday they were going to merge. The move will be a $35.1 billion hookup across borders that shows Big Data has made Madison Avenue look more and more like... More of this article »
Image for Samsung and Apple Domination Coming to an End

Samsung and Apple Domination Coming to an End

As Samsung and Apple fight for smartphone market domination, new competition has started to stir. Samsung and Apple had a combined share of the global smartphone market during the second quarter of this year of 43%, which was down... More of this article »
Image for Halliburton says it Destroyed Evidence in Gulf Spill

Halliburton says it Destroyed Evidence in Gulf Spill

Halliburton officials admitted that evidence was destroyed in the oil spill disaster at Deepwater Horizon in the Gulf of Mexico. The company will enter a guilty plea to criminal charges, said the Department of Justice on Thursday. In... More of this article »
Image for Sales Soar for Facebook Mobile Ads

Sales Soar for Facebook Mobile Ads

The decision of Mark Zuckerberg, the CEO of Facebook last year to roll the dice on mobile software is now paying off huge dividends for the social media site. Sales of wireless device ads are on track to pass the revenue from desktops. The... More of this article »
Image for Starbucks to Serve Yogurt Soon

Starbucks to Serve Yogurt Soon

Starbucks has added something new to its menu. Aside from offering designer coffee, you can now enjoy designer yogurt at the giant coffee chain. The company announced its partnership with French yogurt maker Danone to make its own... More of this article »
Image for American Airlines Announces Second Quarter Profit

American Airlines Announces Second Quarter Profit

AMR, American Airlines’ parent company, which is nearing its merger with US Airways, announced a profit of $220 million for the second quarter of 2013. It was just the first time the business has had a net profit during a second... More of this article »
Image for GE Earnings Up, Stock Rises

GE Earnings Up, Stock Rises

General Electric Co. announced that its earnings for the second quarter has increased by 0.9%, as the huge conglomerate reported it had lower costs, but its adjusted earnings dropped as revenue fell below Wall Street estimates. Nevertheless,... More of this article »
Image for IBM: Revenues Down, Profit Beats Forecast

IBM: Revenues Down, Profit Beats Forecast

On Wednesday, IBM reported its operating earnings for the second quarter that beat expectations on Wall Street, which provided reassurance to its investors following a hiccup during the first quarter. Revenue however was weak as it... More of this article »
Image for McDonald’s to operate in Vietnam

McDonald’s to operate in Vietnam

On Tuesday, McDonald’s announced that Vietnamese businessman Henry Nguyen, who founded Good Day Hospitality will be the developmental licensee for the country. Dave Hoffmann, McDonald’s President of the Africa, Asia Pacific and... More of this article »
Image for Executives of British Drug Maker Investigated for Bribes

Executives of British Drug Maker Investigated for Bribes

The police in China announced on Monday that British pharmaceutical giant GlaxoSmithKline had channeled millions of dollars worth of bribes through travel agents in China to doctors and government officials. The bribes helped GSK to... More of this article »
Image for Consumer Sentiment Falls Unexpectedly in U.S.

Consumer Sentiment Falls Unexpectedly in U.S.

Consumer confidence cooled unexpectedly during July as U.S. consumers became less optimistic regarding the outlook of the U.S. economy. The preliminary index by the University of Michigan/Thomson Reuters consumer sentiment fell from... More of this article »
Image for Leap Wireless Acquired by AT&T

Leap Wireless Acquired by AT&T

The wireless industry is becoming more and more consolidated and on Friday with AT&T’s acquisition of Leap Wireless, the industry was consolidated even more. AT&T announced that it had acquired the prepaid wireless business... More of this article »
Image for McLaren Dealerships Comes to Scottsdale

McLaren Dealerships Comes to Scottsdale

Auto Gallery, which is based in Woodland Hills, California, is bringing a McLaren Automotive dealership in Scottsdale. The company has leased around 10,000 square feet of space at the corner of in Raintree Drive and 83rd Place in North... More of this article »
Image for Kroger Buys Harris Teeter for $2.4 Billion

Kroger Buys Harris Teeter for $2.4 Billion

The largest U.S. grocery store chain, Kroger Co., just got a bit larger. On Tuesday, Kroger announced its acquisition of Harris Teeter Supermarkets, which increases its exposure from 31 states to 34. The purchase price was said to... More of this article »
Image for Alcoa Upbeat Results Start Earnings Season

Alcoa Upbeat Results Start Earnings Season

Alcoa is the first company to announce its earnings for the second quarter of 2013 and delivered a shot in the arm for both revenue and earnings. The company also remained optimistic that the demand globally for aluminum would grow... More of this article »
Image for Fiat Increasing Chrysler Stake

Fiat Increasing Chrysler Stake

Italy’s Fiat exercised an option to purchase more shares of Chrysler Group even though it has not taken possession of two previous groups of shares because of a price dispute. Fiat, which currently owns 58.5% of U.S. based Chrysler,... More of this article »
Image for Soy and Corn Mixed, Nearby Contracts Higher

Soy and Corn Mixed, Nearby Contracts Higher

Soybean and Corn futures in the U.S. settled mixed on Friday, with nearby contracts moving up on the current tight supplies. The futures for “new crop,” which are for soybean for November and corn for December contracts, that are... More of this article »
Image for Samsung Misses Second Quarter Forecast

Samsung Misses Second Quarter Forecast

Samsung Electronics on Friday missed is already modest guidance for quarterly earnings, deepening concerns that the electronics giant’s smartphone business might already have peaked. Sales growth in its flagship Galaxy phone line... More of this article »
Image for Apple Constructs Its Second Solar Farm in Nevada

Apple Constructs Its Second Solar Farm in Nevada

Manufacturing companies are now shifting towards solar farms. Lots of companies are contracting solar panel makers to place several panels near their factories that help power the facility and keep their carbon footprint low. Placing... More of this article »
Image for Labor Department: 195,000 New Jobs, Unemployment 7.6%

Labor Department: 195,000 New Jobs, Unemployment 7.6%

In June, the U.S. economy added over 195,000 new jobs, said the Labor Department in a report released Friday. That figure was slightly higher than what analysts on Wall Street were expecting and suggested a steady growth. Wall Street... More of this article »
Image for Labor Market Continuing its Healing Process

Labor Market Continuing its Healing Process

During June, private business hired over 188,000 new employees, considerably more than had been expected. The news indicates the healing process continues slowly in the job market. The ADP report combined with stability in jobless... More of this article »
Image for Rising Oil Prices put economy and market in Danger

Rising Oil Prices put economy and market in Danger

Prices of oil briefly reached $102 per barrel Wednesday, the highest the price has been in more than 12 months, as Mohammed Morsi, the embattled President of Egypt vowed to stay in power only hours before a military deadline expires... More of this article »
Image for Nokia Purchases Siemens Stake of Joint Venture

Nokia Purchases Siemens Stake of Joint Venture

Nokia Oyj, the Finnish based company, agreed to acquire the Siemens AG stake in their joint venture for an estimated $2.2 billion. The acquisition gives Nokia Oyj complete access to the phone equipment makers’ cash flow for less... More of this article »