Home » Archive for January, 2014

Image for Amazon Revenue Increases but Still Disappoints

Amazon Revenue Increases but Still Disappoints

Sales during the holidays lifted the fourth quarter revenue for Amazon.com more than 20% from the previous year’s same period. That helped profit at the online giant, but it did not do enough to meet projections from Wall Street. The... More of this article »
Image for Net Loss for Fourth Quarter Posted by LG Electronics

Net Loss for Fourth Quarter Posted by LG Electronics

South Korea based LG Electronics posted a net loss for its 2013 fourth quarter, as its earnings were hit hard by the strengthening Korean won and large expenses in advertising for its G2 5.2-inch Android flagship smartphone. LG, based... More of this article »
Image for Microsoft Sees Record Sales for Last Quarter

Microsoft Sees Record Sales for Last Quarter

Microsoft Corp has posted quarterly revenue and profit that exceeded estimates of Steve Ballmer its CEO, benefitted by sales of game consoles and cloud software in the last months of his tenure at the helm of the software giant. Revenue... More of this article »
Image for Nokia Projects Lower Profit Margins

Nokia Projects Lower Profit Margins

Nokia Oyj predicted that profit margins would shrink for its division of network-equipment, signaling that the company would sacrifice earnings so they can revive sales in an attempt to rebuild itself following the sale of its phone... More of this article »
Image for Coach North America Sales Plummet

Coach North America Sales Plummet

Sales at Coach Inc in North America during the annual key holiday quarter plummeted by more than had been forecasted by the maker of handbags, as new competition continued to eat at its market lead while fewer shoppers entered its... More of this article »
Image for Verizon Posts Profits in Excess of $5 Billion

Verizon Posts Profits in Excess of $5 Billion

Verizon announced a net income for the fourth quarter of 2013 of $5.07 billion. The wireless carrier was helped by the continued increase of wireless devices into its network. Verizon’s earnings beat expectations of Wall Street analysts... More of this article »
Image for Owner of Budweiser Buying Biggest Brewery in South Korea

Owner of Budweiser Buying Biggest Brewery in South Korea

Anheuser-Busch InBev SA, the largest brewer in the world, has agreed in principle to purchase Oriental Brewery Co. Ltd. based in South Korea, from Affinity Equity Partners and KKR & Co. The purchase price is $5.8 billion, which... More of this article »
Image for Intel to Cut Workforce as Sales Struggle

Intel to Cut Workforce as Sales Struggle

Cuts in jobs at Intel could affect as many as 5,400 jobs. Intel on Friday said it expected to lower its workforce during 2014 by 5%. The chipmaker ended last year with 107,600 workers, which means the cuts of up to 5%, could affect... More of this article »
Image for UPS Profit Affected By Shorter Holiday Season

UPS Profit Affected By Shorter Holiday Season

United Parcel Service, Inc announced its profit for 2013 would not meet forecasts as a large flurry of late orders near the end of the U.S. shopping season for the holidays and a batch of cold weather took its toll on the delivery... More of this article »
Image for Europe: Longest Car Market Slump Ever Continued in 2013

Europe: Longest Car Market Slump Ever Continued in 2013

The car market in Europe endured its longest ever slump with a sixth consecutive year of shrinkage during 2013. However, an unexpected spike in sales for December might finally signal a recovery, according to data that was released... More of this article »
Image for Charter Communications has New Offer for Time Warner Cable

Charter Communications has New Offer for Time Warner Cable

After numerous rebuffs, Charter Communications went straight to shareholders at Time Warner Cable on Monday with a new cash and stock offer of $61 billion in hopes it would pressure executives to rekindle negotiations. The proxy battle... More of this article »
Image for Lululemon Lowers Forecast

Lululemon Lowers Forecast

The upscale yoga wear maker Lululemon Athletica lowered its forecast for the quarter as the business continues to struggle with the long lasting effects of a recall and comments that were controversial made by it founder. That in turn... More of this article »
Image for USDA Lowers Corn Crop Estimates

USDA Lowers Corn Crop Estimates

The U.S. federal government cut the size of the record corn crop for 2013 unexpectedly, as lower yields were cutting into supplies. On Friday, the U.S. Department of Agriculture lowered the corn crop from last year to 13.92 billion... More of this article »
Image for Alcoa Posts Loss in Fourth Quarter of $2.3 Billion

Alcoa Posts Loss in Fourth Quarter of $2.3 Billion

Alcoa, Inc. reported a loss in the fourth quarter of $2.3 billion Thursday as lower prices of aluminum caused the company to make a write down in the value of its acquisitions that were made more than 10 years ago. Without those huge... More of this article »
Image for Macy’s Cutting Over 2,500 Jobs

Macy’s Cutting Over 2,500 Jobs

On Wednesday, Macy’s announced it was cutting jobs as part of its effort in reorganization that will help the company save over $100 million each year. Macy’s is planning to cut 2,500 jobs in its effort to save and sustain profitability.... More of this article »
Image for Mulally Staying at Ford Motor Co.

Mulally Staying at Ford Motor Co.

CEO Alan Mulally of Ford Motor Co. said he was planning to stay at the U.S. automaker, which is No. 2 in the country, through this year and would not leave for the top spot at Microsoft. Mulally said he wanted to end any speculation... More of this article »
Image for Profit for Fourth Quarter Misses Estimates at HTC

Profit for Fourth Quarter Misses Estimates at HTC

Smartphone manufacturer HTC, based in Taiwan, reported a fourth quarter profit that was lower than expected on Sunday, despite its aggressive measures for cost cutting and a one off gain. The company has reported a profit of $10 million,... More of this article »
Image for Cherrios No Longer Have GMI’s

Cherrios No Longer Have GMI’s

General Mills announced that it stopped using genetically modified ingredients in Cheerios, its popular breakfast cereal, as the branded foods maker in the U.S. hopes its move will garner customer loyalty as growing opposition continues... More of this article »
Image for Fiat Now Has Full Control Over Chrysler

Fiat Now Has Full Control Over Chrysler

Fiat SpA has secured complete ownership of Chrysler Group in a deal worth $4.35 billion that will conserve cash for the Italian automaker while creating a true global automaker with a better opportunity to compete with General Motors. Fiat... More of this article »