ThinkstockWells Fargo & Co. (NYSE: WFC) reported fourth-quarter 2012 and full-year results this morning. The bank reported quarterly diluted earnings per share (EPS) that totaled $0.91 on revenue of $21.9 billion. In the same…
courtesy Best Buy Co. Inc.Electronics retailer Best Buy Co. Inc. (NYSE: BBY) announced this morning that total sales for the nine weeks of the 2012 holiday season declined 0.4% while same-store sales fell by…
ThinkstockIn an exclusive report from Reuters this morning, “people familiar with the situation” say that the Office of the Comptroller of the Currency (OCC) will end its investigation into certain practices at J.P. Morgan…
ThinkstockPipeline master limited partnership Kinder Morgan Energy Partners LP (NYSE: KMP) announced this afternoon that it will update the scope of its expansion of the Trans Mountain pipeline system that currently moves about 300,000…
U.S. equity markets opened higher this morning even though the number of new U.S. claims for unemployment benefits rose more than expected before markets opened (more coverage here). The news was more than offset…
courtesy of Google Inc.Just last week, Google Inc. (NASDAQ: GOOG) agreed to be nice and cut short a two-year investigation by the Federal Trade Commission (FTC) into some of the company’s business practices. Smoke…
ThinkstockAn auto industry analyst has said that Chrysler Group LLC, which is majority owned by Italy’s Fiat SpA, could be worth as much as $13.5 billion just three years after the company filed for…
ThinkstockPrices for WTI crude have risen above $94 a barrel for the first time in nearly four months today, reaching a high point of $94.70 a barrel on the Nymex. Brent prices have also…
courtesy of Wal-Mart Stores Inc.Two Democratic members of Congress, Henry Waxman and Elijah Cummings, said today that they have written a letter to Michael Duke, CEO of Wal-Mart Stores Inc. (NYSE: WMT) citing documents…
ThinkstockIn January 2010, France’s supermajor oil & gas company Total SA (NYSE: TOT) paid about $2.25 billion for a 25% stake in the Barnett shale leases owned by Chesapeake Energy Corp. (NYSE: CHK). The…
ThinkstockThe federal Consumer Financial Protection Bureau (CFPB) announced today the adoption of new rules for mortgage lenders that prohibit deceptive teaser rates or no-documentation from borrowers, as well as requirements that lenders make a…
thinkstockThe U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks declined by 201 billion cubic feet last week, above an average expected drop of around 186 billion cubic feet. Natural gas…
ThinkstockRetail grocery store chain Supervalu Inc. (NYSE: SVU) this morning reported third fiscal quarter adjusted diluted earnings per share (EPS) of $0.08 on sales of $7.9 billion. In the same period a year ago,…
ThinkstockWe’ve already noted the weak holiday sales report from Tiffany & Co. (NYSE: TIF) out this morning. Now two more specialty retailers, American Eagle Outfitters Inc. (NYSE: AEO) and Aeropostale Inc. (NYSE: ARO), have…
courtesy of Nokia Corp.Mobile phone maker Nokia Corp. (NYSE: NOK) announced today that it expects fourth-quarter operating margin for its devices and services business to fall in a range from flat to +2%, compared…
ThinkstockIn an announcement that its new manufacturing complex at Mountain Pass, Calif., is now operational and ramping production, Molycorp Inc. (NYSE: MCP) glossed over a few more basic issues. The company said it expects…
ThinkstockHedge fund Pershing Square Capital Management and its CEO, William Ackman, made a lot of waves (and headlines) with Ackman’s takedown of Herbalife Inc. (NYSE: HLF). Calling the weight loss and nutritional supplement company…
courtesy Tiffany & Co.Luxury retailer Tiffany & Co. (NYSE: TIF) this morning reported same-store sales totals for the two months of November and December 2012. The store also lowered its full fiscal year guidance.…
U.S. equity markets opened higher this morning following a better-than-expected quarterly earnings report from Alcoa Inc. (NYSE: AA). There was not a lot of economic data out today, so corporate earnings had to push…
ThinkstockWhen the Chinese government’s National Development and Reform Commission announced yesterday that it will add 10,000 megawatts of solar capacity in 2013, today’s jump in solar stocks be came a sure thing. How China…