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Sears Loss in First Quarter Widens
The loss in the first quarter for Sears widened as the retailer’s sales fell amidst its continual struggle to entice shoppers. Sears Holdings Corp, which is the operator of its namesake and Kmart stores, has tried to cut costs, reduce... More of this article »
Retail Stocks Drive Sell-Off
Stocks in the U.S. fell on Tuesday in a selloff, with the major indexes reaching their lows for the session during trading in the afternoon. Driving the selloff were retail stocks, after disappointing earnings reports were given for... More of this article »
Profits Up at Home Depot, But Miss Wall Street Estimates
On Tuesday Home Depot reported that its sales as well as net income was up for the first quarter despite a slower than normal start for the spring selling season thanks to a harsh winter. However, the results did not meet Wall Street... More of this article »
Coffee Prices up Due to Fungus
The government of the U.S. has stepped up its efforts to help farmers in Central America fight a devastating disease that is hitting coffee to hold the price of the morning cup down before it become too expensive. The disease is a... More of this article »
Housing Starts Up in April
Home construction in the U.S. surged during April and building permits rose to levels higher than in over five years. This was a good sign that the industry is starting to rebound after a slow winter. Housing starts were up 13.2% for... More of this article »
Google and Apple End Litigation over Smartphones
The two huge tech giants Apple and Google have settled a series of lawsuits dealing with their phone operating platforms. Google and Apple had dozens of suits and counter suits filed against one another dealing with their respective... More of this article »
Xiaomi Enters the Tablet Fray
After entering the smartphone market in China, Xiaomi based in the world’s second largest economy is looking to rile a few feathers in the tablet marketplace with a low-price first generation flattop set to rival the iPad mini from... More of this article »
Ex-Glaxo Chief in China Caught Up in Bribery Allegations
On Wednesday, China accused the former chief to GlaxoSmithKline in China of ordering his staff to commit bribery that resulted in revenue in the billions of yuan. Officials from the Ministry of Public Security in China at a briefing... More of this article »
Tesla Battery Deal Ending with Toyota
Tesla Motors Inc, the maker of electric cars is planning to construct the largest plant for battery production in the world. The company announced that its deal to supply Japanese automaker Toyota Motor Corp with motors and battery... More of this article »
Inflation in China Falls to Lowest Rate in Year and A Half
Consumer inflation in the world’s second largest economy decelerated to a low of 18 months in April, in China. At the same time, a decline in prices at the factory-gate continued giving the Chinese government more reason to loosen... More of this article »
Tesla Disappoints on Outlook, Shares Fall
Tesla Motors Inc led by Elon Musk the billionaire offered on Wednesday an outlook for its second quarter, which disappointed investors. In response, shares for the company dropped as much as 7% in trading after hours. The electric... More of this article »
Bayer AG Acquiring Consumer Business from Merck
Bayer AG, based in Germany, is acquiring the consumer business of Merck for an estimated $14.2 billion. Bayer will now be the owners of brands that are well known including Afrin, Coppertone and Claritin. The deal means the German... More of this article »
Pfizer Reports Weaker Profits
Pfizer Inc the United States based pharmaceutical giant said its profit in the first quarter shrank by 15% due to weaker revenue in both of its largest businesses. The U.S. drug maker did not comment when it released its earnings about... More of this article »
Twitter Testing Mute Button for Android and iOS
Twitter gives certain users the ability to quiet those they are following, but still message and receive notifications from them. Everyone knows that one person, the one with way too much time available. The one that tweets about everything... More of this article »
Samsung Ordered to Pay $120 Million to Apple
On Friday, a jury in the U.S. ordered South Korea-based Samsung Electronics to pay Apple Inc nearly $120 million, which was far less than what Apple had sought. The decision marked a big loss for the maker of iPhone in the latest round... More of this article »
Sony Cuts Forecast as Pressure Increases on CEO
Sony Corp has slashed it guidance for earnings for the third time in just one year to barely 10% of what it initially had for an outlook as more losses from its PC sector exit have cast a cloud over the struggling division of electronics. The... More of this article »
Twitter Passes First Quarter Estimates But Shares Fall
Twitter reported a bottom- and top-line that beat estimates on Tuesday and attributed its increase of 119% in revenue to its growth in users as well as engagement. However, shares of the microblogging company plummeted in after hours... More of this article »
Samsung Announces Uptick for Second Quarter
Samsung Electronics on Tuesday announced it was expecting stronger earnings during the second three months of 2014 as an increase in sales of its smartphones and high-tech televisions spurs on growth. This came after the South Korea... More of this article »
AstraZeneca Offered $100 Billion by Pfizer
AstraZenca, the Anglo-Swedish pharmaceutical company saw it shares spike by 15% Monday after Pfizer the U.S. pharmaceutical giant said it had offered the company close to $100 billion to buy it. Pfizer, which is the maker of the famous... More of this article »
Pandora Media Falls on Lower Profit Forecast
Pandora shares fell following its announcement to investors it would spend more aggressively on marketing in defending its lead in the market in online radio. The move will put a dent in the company’s profit. For the second straight... More of this article »
Retailers Making New Strategies for Advertising
Nordstrom, Target as well as other large chains are putting their hope of attracting more shoppers on social media. Today retailers are using Pinterest more and more. The social media site allows its users to create group of photos,... More of this article »
Proctor & Gamble Trimming Costs, Sales Fall
Proctor & Gamble CEO A.G. Lafley made progress cutting costs from the largest consumer products business in the world during its fiscal third quarter. However, reviving growth in sales has not come as easy. The Pampers Diapers... More of this article »
Netflix Set to Increase Subscription Price
Netflix has decided it is time to up the ante. The streaming video service is set to increase its monthly subscription prices for just the first time in the past three years. This will help Netflix pay for additional video programming... More of this article »
Hasbro Profit Helped by Girls Toys
The toymaker Hasbro made a surprise improvement in earnings thanks to lower costs and sales soaring for girls’ toys. Hasbro said it made a profit during the first quarter as earnings topped expectations of analysts, even though revenue... More of this article »
LinkedIn Reaches Milestone of 300 Million Members
LinkedIn has reached 300 million members and the professional networking site is betting big that mobile devices will drive its growth, as 50% of its traffic is projected to come from the handheld devices. Senior VP at LinkedIn Deep... More of this article »
Galaxy S5 Sales are Double those of S4
The Samsung Galaxy S5 sold twice as quickly as its predecessor the S4 on the day it was launched, said retailers in the UK as up to 99% of the new Samsung smartphones sold are on contracts with 4G. The new generation S5 cannot be kept... More of this article »
Dubai to Open New Six Flags Park in 2017
Six Flags Entertainment Corp, the operator of theme parks and based in the United States, announced that it was partnering with Meraas Leisure and Entertainment based in Dubai to open a Six Flags Park in Dubai. The theme park is schedule... More of this article »
Source: FBI Probe Herbalife Marketing
Bill Ackman, the hedge fund manager, has accused Herbalife Ltd of being nothing more than a pyramid scheme. The company is now being probed by the FBI says a source familiar with the investigation. The source said federal authorities... More of this article »
Ikea Investing in Illinois Wind Farm
Home goods behemoth Ikea is doing more than designing and building furniture. The company has invested in a wind farm in Vermilion County Illinois about 150 miles to the south of Chicago. The farm will be big enough to ensure that... More of this article »
Alcoa Shares Increase After Earnings Beat Estimates
Alcoa Inc opened the first quarter earnings season reporting a drop in adjusted profit for the first quarter, as prices on aluminum fell. However, earnings were ahead of expectations by analysts and shares of the aluminum producer... More of this article »
Fiat and Chrysler Now Able to Produce 6 Million Vehicles Per Year
Sergio Marchionne the CEO of Fiat and Chrysler said on Monday that the two automakers would have a combined capacity of 6 million vehicles annually once their forces are combined. Marchionne is aiming to complete the merger of the... More of this article »
Tesla Enters Deal to Maintain Sales in New York
Tesla Motors can continue to sell its vehicles in the state of New York and might eventually move into the dealership mode that it has continued to fight. The New York Automobile Dealers Association and Tesla reached an agreement over... More of this article »
Problems Increase for GM over Recall
General Motors had a tough day on Friday. Late Friday afternoon GM said it recalled over 172,000 of its Chevrolet Cruzes to change the axle half shaft on the right front side that could possibly fracture then separate without any warning... More of this article »
Oculus Rift Maker Purchased by Facebook for $2 Billion
Facebook announced it was acquiring Oculus VR the company that developed Oculus Rift the headset that is virtual reality. Facebook is spending over $2 billion for the company that includes $400 million in cash and more than 23.1 million... More of this article »
Apple Discussing Streaming Video with Comcast
Comcast and Apple have reportedly been in talks for a deal, which would allow users of Comcast to access the content of the cable provider via a set-top box on Apple TV. However, the arrangement includes as well an interconnection... More of this article »
Walmart Uses Tool Revealing Prices of Competitors
A new tool used by Walmart could succeed in shaking up the pricing world once again. Walmart said it has unveiled a tool to use online that compares prices it has on over 80,000 household and food products from dishwashing soap to... More of this article »
FedEx Short of Expectations with Earnings
Shares at FedEx Corporation fell by up to 2% on Wednesday morning in premarket trading. The company released its quarterly results from its fiscal third quarter for 2014 prior to the market’s opening bell. The company posted higher... More of this article »
Consumer Prices in U.S. Increased Slightly in February
Cheaper energy helped maintain overall U.S. prices close to the same last month, despite a large increase in food costs, the latest sign inflation remains tame. The consumer price index was up by just 0.1% during February matching... More of this article »
Twitch Partnering with Gameloft in Mobile Streaming
The leading video community and platform for gamers in the world, Twitch, announced on Monday that Gameloft’s Asphalt: Airborne for the platform iOS would be the first mobile game ever featuring the live streaming functionality from... More of this article »
Alibaba Gearing Up for IPO in U.S.
Alibaba Group, the e-commerce giant based in China said on Sunday it would go public on a stock exchange in the U.S. in a move that analysts said might raise as much as $15 billion in this year’s biggest initial public offering to... More of this article »
Producer Prices Drop in U.S.
The producer prices in the United States dropped during February, which reinforced the view that minimal pressure of inflation could keep the U.S. Federal Reserve from increasing interest rates for a long time. The Department of Labor... More of this article »
Retail Sales Up for First Time in Three Months
U.S. retail sales increased in February for only the first time over the past three months, which is a sign that consumers have started to shake off ill effects of the severe winter that curbed spending more than was estimated previously. The... More of this article »
Stocks Pulled Down by China and Copper
Continuing worries about the slowdown in growth in China and the tensions in Ukraine overshadowed market sentiment Wednesday, as stock futures headed south following sharp losses in Tokyo and Hong Kong started to be repeated in Europe. While... More of this article »
Fyffes to be Acquired by Chiquita Brands
Chiquita Brands International, owner of the banana label of the same name, has agreed to acquire Fyffes, Plc in a transaction that is all stock valuing the distributor of fresh produce based in Dublin at around $526 million. The new... More of this article »
Coupons.com Surges by 88% in Debut
Coupons.com debuted this week on the New York Stock Exchange and soared by 88% in its first day with an IPO. The coupon site online listed its shares at $16 and ended the first day at $30. The company was able to raise $168 million... More of this article »
Boeing Reports Cracks in Wings on Dreamliners
Boeing Co. announced Friday that they discovered hairline cracks in the wings of nearly 40 of its 787 Dreamliners that were in production, which marked yet another setback for the newest jet in the company. The cracks were not found... More of this article »
Cerberus Acquiring Safeway
Safeway agreed to an acquisition by Cerberus Capital Management the parent company of a number of supermarket chains. The deal is worth nearly $7.65 billion in cash and pending any other transaction could be over $9 billion. The acquisition... More of this article »
GDP Lowered from 3.2% to 2.4% during Fourth Quarter
The economy in the U.S. expanded at a much slower pace late in 2013 than what was estimated initially, a sign of little growth amidst foul weather and softer demand overseas for products from the U.S. The gross domestic product, the... More of this article »