Home » Archive for April, 2013
Chrysler’s Quarterly Earnings Plunge due to Model Changes
Chrysler Groups announced its earnings for the first quarter were $166 million, which was down over 65%. Revenue was $15.4 billion, which was down 6%. Chrysler announced that the first quarter was affected negatively by reduced shipments... More of this article »
Has Novartis Infringe on its Corporate Integrity Agreement?
The US Department of Justice filed two lawsuits in the span of one week against Novartis for alleged paid kickbacks to improve prescriptions and caused federal healthcare programs to pay for medicines based on false claims. A complaint... More of this article »
Profits up, Revenue down for Burger King
Burger King Worldwide on Friday announced that its first quarter profit more than doubled because of less expenses, which helped to offset negative sales in their same-stores and revenue that was lower. The company went public back... More of this article »
Earnings for Southwest Exceed Wall Street Expectations
Southwest Airlines earned more during the first quarter than what analysts from Wall Street had estimated, but officials from the airline said the federal budget cuts could hurt revenue for the airline going forward. An airfare increase... More of this article »
Sprint Loses Subscribers put posts Numbers Better than Estimates
The third largest wireless carrier in the United States, Sprint Nextel Corp reported a narrower first quarter loss than was expected. This came even though Sprint lost over 560,000 contract subscribers. The loss was $0.21 cents per... More of this article »
Earnings for Caterpillar Drop as Mining Orders Shrink
Caterpillar, Inc. the largest maker of construction and mining equipment in the world reported its sales and earnings for the first quarter on Monday. The company’s results fell short of estimates by Wall Street, as orders slowed... More of this article »
GE Stocks Fall after CEO Cites Weakness in Europe
General Electric fell Friday morning even if its earnings and revenue were equal to Wall Street’s expectations. The drop was attributed to the concerns about Europe. Chairman and CEO Jeff Immelt said that GE planned for a challenging... More of this article »
AB InBev and Grupo Modelo Reach Accord with Justice Department
The Department of Justice in the U.S. announced this week that it had reached a settlement with Grupo Modelo and Anheuser-Busch InBev over a merger between the two companies. The deal is worth an estimated $20 billion. The DOJ approval... More of this article »
Jobless Claims Increase to 352,000
The latest unemployment claims report showed the initial jobless claims to go up while continued unemployment claims dropped. Initial claims were below the 400K level. Seasonally adjusted initial unemployment claims went up 4,000 to... More of this article »
Profits increase at GE for 2013 First Quarter
General Electric, the largest industrial conglomerate by market capitalization in the U.S. announced its profits had increased by 14% during the first quarter of 2013. That increase was obtained even though the company’s results... More of this article »
Shares drop as Nokia Earnings Miss
Sales for basic phones dropped considerably for Nokia during the first three months of 2013, which helped to overshadow the positive performance of its Lumia smartphone line. The Finland-based company said its operating margins would... More of this article »
Housing Starts Go Up due to High Demand for Multifamily Units
New-home construction in the United States went up in March to its highest level in five years. It was attributed to the increase in the demand for multifamily buildings that support economic growth. Starts gained 7 percent to a 1.04... More of this article »
Reimann Family Investment firm acquires another Coffee Business
Joh A. Benckiser, the investment firm based in Germany, took over its third coffee business in less than 12 months. The Reimann family investment arm agreed to pay $9.8 billion for D.E. Master Blenders. Based in Amsterdam and well... More of this article »
Nissan, Honda and Toyota Announce Huge Recall
On Thursday, the big three carmakers of Japan announced that a recall of more than 3 million vehicles will take place around the world because of defects the air bag system has on the passenger side of the vehicles. Takata Corp, a... More of this article »
Family Dollar Stores release latest Financial Data
On Wednesday, Family Dollar Stores released first quarter earnings information. The company said it earned $1.21 per share for the first three months of 2013, which missed the estimate of Wall Street analysts that was $1.22 a share. The... More of this article »
Global Car Sales: Ford Has Top Selling Car
Small cars across the globe equal big sales for U.S. automakers. The Ford Focus was announced as the clear-cut winner, as the top seller for global sales, easily taking the top spot against the second place finisher the Toyota Corolla.... More of this article »
US Firms in China Face Data Theft
At least a quarter of companies that are part of a leading US business lobby in China have been victimized of data theft. This is according to a report released by the American Chamber of Commerce in China. The report came as Washington... More of this article »
Anheuser-Busch reaches agreement with DOJ
The U.S. Department of Justice and Anheuser-Busch InBev said on Friday they had reached an agreement in principle to settle the beer fight that has been long running. The two asked a court for an extension in the current stay in their... More of this article »
Best Buy to install Mini Samsung Shops
Samsung, the electronics giant, based in South Korea will ratchet up its competition with archrival Apple Inc, by having its own mini-store with Samsung staff inside Best Buy stores in the U.S. The idea said Samsung, is to highlight... More of this article »
Huawei Looks to Asia and Europe for Growth, not U.S.
Huawei, the second largest gear maker for telecommunications in the world, trailing only Ericsson, has announced its 2013 growth in the United States would be hindered due to security concerns that exist there. However, the China-based... More of this article »
Healthcare Sector Leads Wall Street Increase
Stocks increased Tuesday, which was headed by the healthcare sector. The rally came after the government announced its decision on payment rates. Investors also felt optimistic after the release of the report on factory orders that... More of this article »
ADP Report Shows increase of 158,000 Jobs for March
Companies in the U.S. hired fewer workers than had been projected for March due to limited construction hiring according to the private report from ADP based on the country’s payrolls. The increase in jobs was 158,000 making it the... More of this article »
Manufacturing Grows Less than Forecast in March
Manufacturing grew less than estimate in March as orders and production slowed down. It indicated the risk of a US economic slowdown in the first quarter as federal budget cuts take effect. The Institute for Supply Management’s factory... More of this article »