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Netflix Agrees With Comcast for Faster Access to Web
Netflix, Inc the largest subscription service in the world for video streaming joins behemoths such as Facebook and Google that already pay Comcast for their content delivery network access. The video streaming service agreed it would... More of this article »
First Quarter Revenue and Earnings at HP Top Estimates
On Thursday, Hewlett-Packard Co. reported its revenue and earnings for the first quarter that exceeded forecasts on Wall Street. The biggest reason was the surprise strength in it sales of personal computers to businesses. The company... More of this article »
Sales of Cars in Europe Increase in January
Car sales in Europe were up by 5.2% during January, helped by increases in countries previously hit with crisis such as Italy, Ireland, Portugal and Greece suggesting an economic recovery was gaining pace. The ACEA or Association of... More of this article »
Growth Figures in Japan Disappoint
The economy in Japan grew at less of a rate than was expected during the last quarter of 2013, as individuals and companies spent less and failed to expand substantially from the third quarter. The surprisingly weak economy grew much... More of this article »
Campbell’s Soup Sees Positive Effects of Weather
On both coasts of the U.S., Campbell Soup Co. had issues with weather. On the east coast, it was cold and winter weather, which normally spurs consumers to eat more soup they have at home in their cupboards and go out and buy more. The... More of this article »
Retail Sales Drop in January
Amidst severe cold weather, sales feel by a seasonally adjusted rate of 0.4% during January from the previous month, which missed the expectations of Wall Street. The run of very severe winter weather has wreaked havoc on the U.S.... More of this article »
CVS Caremark Profit Increase by 12% in Fourth Quarter
Shares at CVS Caremark outpaced Tuesday’s broader market after the pharmacy chain increased its forecast for earnings for the beginning of 2014 and reassured its investors that its business could absorb the hit financially that was... More of this article »
Hasbro Performance Drops in Fourth Quarter
The net income for Hasbro during the fourth quarter slipped slightly, as it was hit by charges during the important holiday shopping period. The holiday season during November and December is important to many companies as they can... More of this article »
U.S. Cuba Policy Shift Amongst Exile Elite
When a new museum of art opened late last year in Miami Jorge Perez the museum’s namesake spoke about the once taboo topic amongst Cuban American powerbrokers of increasing exchanges between artists in the U.S. with those in Cuba. This... More of this article »
Firestorm Ignited over AOL CEO Comments
This past week should have resulted in a great week for Tim Armstrong the CEO of AOL after the company’s earnings for the quarter were announced as the best for the past decade. However, his comments angered his employees, insulted... More of this article »
Twitter Says Sales and User Growth will Slowdown
Twitter reported solid sales during its first earnings report since its initial public offering in 2013, but its stock dropped in trading after hours on its disappointing outlook. The company reported that sales were $243 million during... More of this article »
Toyota Profit Higher on Strong Sales and Weak Yen
Toyota Motor Corp has reported over a fivefold increase in its profit for the quarter and increased its forecast on earnings. It credited strong sales and a weak yen. Profits for Toyota during the quarter of October to the end of December... More of this article »
Manufacturing in China Falls and Stocks Follow
Global stocks were lower on Monday as weakness in another manufacturing survey in China was seen, which added to the jitters over emerging economies. In early trading in Europe, major bench benchmarks remained lackluster. The FTSE... More of this article »
White House Revise Exports Limits on Crude Oil
On Saturday, the Obama administration left open the door to revisiting the crude exports limits that have been in place for close to four decades. The administration said following a Senate Energy Committee hearing on the current ban... More of this article »
Zynga Buys NaturalMotion and Announces Workforce Cut
Zynga Inc announced this week it would acquire NaturalMotion, the company that produces the mobile games Clumsy Ninja and CSR Racing. At the same time, it announced it would cut 15% of its overall workforce in an effort to turnaround... More of this article »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
CEO of Crocs Retiring as $200 Million Stake Taken by Blackstone
John McCarvel the CEO of Crocs, Inc will retire and an investment of $200 million will be made by Blackstone Group LP in the form of convertible preferred stock as the colorful plastic clog maker struggles in its attempt to regain... More of this article »
Hyundai Motors Chief Stepping Down
John Krafick, the chief of Hyundai Motor America is stepping down. His successor will take over as CEO and president on January 1. David Zuchowski will succeed Krafick. Zuchowski joined the company in February of 2007 and is currently... More of this article »
Delta Computer Glitch Creates Low Fares
On Thursday, Santa was out and about with late Christmas presents courtesy of Delta Airlines. Delta acknowledged on Thursday that a computer glitch had caused tickets to become steeply discounted that were purchased online. Some of... More of this article »
Retailers Hope Discounts Post Christmas Will Help
This year the days that led up to Christmas Day were full of disappointing sales, many retailers hope that sales on products post-Christmas will entice shoppers that have become frugal. Forecasts for retail sales appear bleak after... More of this article »
China Mobile and Apple Announce Agreement
China Mobile and Apple have announced on Monday an agreement that has been long anticipated to bring the Cupertino, California based Apple’s iPhone to the biggest phone company in the world. The deal could help increase the sale... More of this article »
Profit at Nike Exceeds Estimates
Nike Inc, the largest sporting goods business in the world, posted fiscal second quarter profit topping estimates of analysts as sales were boosted by higher priced footwear. Net income for the three months ending on November 30 increased... More of this article »
Lower Prices are Not Always a Good Thing
The number 2 is the number that policymakers in the U.S. Federal Reserve were hoping to see in 2013. With an annual inflation rate around 2%, it would confirm to them the economy in the U.S. was strengthening with workers receiving... More of this article »
GlaxoSmithKline Stops Paying Doctors for Promotion of Drugs
GlaxoSmithKline the British pharmaceutical giant announced on Tuesday that it was stopping its payments to doctors who speak on behalf of the company. GSK also announced that pay for sales representatives would not be tied to how many... More of this article »
Coca-Cola Splits North American Business
Coca-Cola has split its business in North America into two units. However, for investors to remain happy it might mean more measures that involve cost cutting be put in place. However, its changes in management have put Coke ahead... More of this article »
Industrial Output in Euro Zone Falls Sharply
The industrial output across the common currency euro zone dropped at its steepest rate for a month in over 12 months during October. This highlights the continued fragility of the region’s economic recovery and supports the case... More of this article »
Costco Misses Estimates
Costco Wholesale Corp, the largest warehouse-club chain in the U.S. reported its fiscal first quarter earnings on Wednesday, which missed estimates by analysts even as the chain’s sales increased as it was offering more discounts. Net... More of this article »
U.S. Sells Remaining Stock in General Motors
Officials from the Obama administration said they had not expected to recover the entire money they had pumped into automaker General Motors. The books were closed on the bailout of General Motors by taxpayer’s, when the remaining... More of this article »
Exports From China Increase More Than Expected
Exports from China were up more than had been expected for November, which in turn pushed the country’s trade surplus to its highest level in over four years, in a sign that global demand is sustaining a recovery in the second largest... More of this article »
WTO Reaches Deal on Global Trade
A first ever deal on trade reform was reached on Saturday by the World Trade Organization. When announced a roar of approval went up from the close to 160 ministers in attendance that gathered in Bali, the Indonesian island to decide... More of this article »