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Goldman Sachs to Underwrite Twitter IPO
ldman sachs, Goldman Sachs beat out top rival Morgan Stanley to be the lead underwriter in the initial public offering for Twitter, giving it the bragging rights to the most anticipated debut from Silicon Valley since Facebook. The... More of this article »
Stocks Mixed Amid Delay Over Syria
Stocks in the U.S. were mixed following a win streak of six days for the S&P 500 Index as Apple tumbled its most since this past April and President Obama postponed military action against the Syrian regime led by President Bashar... More of this article »
Walmart to Offer Smartphone Trade-In Program
Apple is expected to launch its latest iPhone on Tuesday, but it is not the only huge company making an announcement about iPhones. Walmart is taking center stage as well. The largest retailer in the world is expected to unveil the... More of this article »
China Exports Grow in August
Exports from China increased during August, which reflected an improvement in external demand and revealed additional signs that the second largest economy in the world was stabilizing. Imports, still better than last year at this... More of this article »
U.S. Trade Gap Widened During July
In July, the U.S. trade deficit widened from nearly a low of four years, as exports cooled off and imports made a rebound. The gap widened by 13.3% from $34.5 billion to $39 billion. Forecasters had predicted the gap would widen to... More of this article »
Secretary of Labor Perez Praises Striking Fast Food Workers.
Thomas Perez the Secretary of Labor in the U.S. said the fast-food employees who have recently walked off their jobs for one day in cities across the country in an attempt for an increase in wages, are heirs to demonstrators during... More of this article »
Google Loses head of Android to Chinese Firm
A senior Android executive at Google is leaving the company to join a smartphone maker based in China that is up and coming in the industry. Hugo Barra, the vice president of product management of Android announced that this week he... More of this article »
Crisis in Syria Causing Oil and Gas to Increase
The usual drop in September that is expected for gas prices, might not take place this year. In the U.S. the national average for a gallon of gasoline is $3.55, which is down from last month’s average of $3.63. By the early part... More of this article »
Stocks in U.S. Up After Durable Goods Fall
Stocks in the U.S. increased as investors speculated on whether the report indicating a fall in orders for durable goods for July would stop cuts in the Federal Reserve stimulus program. The S&P 500 was up 0.3%, while the Dow added... More of this article »
Loss Widens for Sears as Sales Fall
Sears has announced that its loss widened during the second quarter as the number of overall stores operating declined and the company dealt with the remaining effects from its spinoff of the Outlet and Hometown brand. A number of... More of this article »
Rebound of U.S. Housing, beneficial to Home Depot
The housing market’s recovery in the U.S. has helped home improvement retailer Home Depot beat the projections of analysts for quarterly revenue and profit. The results prompted the largest home improvement chain in the world to... More of this article »
Growth Returns to Euro Zone
The gross domestic product in Germany, the broadest measure that is produced of goods and services across the region was up 0.7% during this year’s second quarter. That means the economy in the euro zone had emerged from its recession... More of this article »
Growth in Japan weighing on World Markets
Economic growth, which was weaker than had been expected in Japan, weighed on the market to start the week, on what for many will be a light day for the economical calendar worldwide. The biggest economic indicator for the day was... More of this article »
Ackman Wants J.C. Penney Chairman Ousted
Bill Ackman has won support from Perry Capital LLC the hedge fund in his attempts to oust Tom Engihous the J.C. Penney Chairman and Mike Ullman, the CEO. Perry reported a stake of 7.3% in the U.S. retailer and echoed the comments of... More of this article »
Groupon Earnings Match Forecasts
Groupon, the online coupon service reported new quarterly earnings that matched expectations and at the same time named its new permanent CEO. Groupon, which gives consumers the opportunity to prepay for goods and services that are... More of this article »
Sales increasing for Smaller and Bigger Vehicles
Bill Perkins has been a Chevrolet dealer for 20-years in the suburban area of Detroit. He remembers when only one or two cars had been in the showroom worth selling amongst the sports utility vehicles and large pickups. Now, said Perkins,... More of this article »
Carmakers in Japan Get Boost as Yen Drops
Toyota came close to doubling its net profit during the most recent quarter ending in June despite selling fewer cars. The cause was a weaker currency in Japan that caused the foreign earnings of the carmaker to increase. The biggest... More of this article »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
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 »
Wall Street Stocks End Strong First Six Months of 2013
The S&P 500 Index recorded its best first six months of a year in the past 15 years, as stocks in the U.S. closed a strong first half of 2013, despite suffering losses in June driven by investor worry of monetary tightening by... More of this article »
Results by BlackBerry not enough, Stock Drops
BlackBerry no longer can use the excuse of being in a “transitional quarter,” but that does not mean their fiscal year has started on the right foot. The struggling maker of smartphones saw its stock shares slump over 17% during... More of this article »
Strike by Portuguese Workers over Austerity Measures
Public transportation services were frozen and hospital staffs shrunk across Portugal Thursday amidst a nationwide strike due to the growing consensus amongst business and workers that austerity measures had reached their limit. Strikes... More of this article »
Nook Not Doing Well for Barnes & Noble
Barnes & Noble products that have virtual pages and power buttons for reading have become horror stories for the company. The demand for the company’s Nook is quickly disappearing and the company, based in New York just posted... More of this article »
Tenet Acquiring Vanguard Health in Deal for $1.8 Billion
Vanguard Health Systems, a hospital operator, will be acquired by Tenet Healthcare Corp, for an estimated $1.8 billion so Tenet can expand into more hospitals in Texas. The deal will have Tenet paying $21 per share, said the companies... More of this article »
Darden’s Boost Revenue and Dividend, but Profit Misses
Darden’s Restaurants Inc on Friday reported its profits for the fiscal fourth quarter. The profits were lower than last year, despite revenue improving in its entire range of restaurants. The lower profits reflect higher costs as... More of this article »
UK Commission Orders Google to Delete Street View Data
Google, the Internet search and map giant, is facing criminal charge if it fails to destroy all the payload data it gathered through Wi-Fi on its Street View vehicles. The search giant has 35 days to delete the information. The Information... More of this article »
Economy Firming Indicates Inflation Data
In May, consumer prices increased and a gauge for underlying pressures on prices showed it was stabilizing after a long period of decline, which is a potential comfort to policymakers in the Federal Reserve who want to see a stronger... More of this article »
Export Permit Delays, Cost Gas Companies Millions
Rex Tillerson, the chief at Exxon Mobil said that delays in getting permits for natural gas exports approved has cost and is costing companies in the U.S. millions of dollars each day. He also said that rival foreign companies are... More of this article »
Prices in U.S. rise as Gasoline Jumps
U.S. producer prices increased more than was expected during May as the price of gasoline rebounded. However, pressure of underlying inflation remained muted, that could help to argue against a scaling back in monetary stimulus be... More of this article »