In an effort to head off regulatory rejection of its planned $3.6 billion acquisition of more wireless spectrum from an outfit called SpectrumCo LLC, Verizon Wireless, a joint venture of Verizon Communications Inc. (NYSE:…
The government of Cyprus has requested a bailout from other members of the Eurozone through the European Financial Stability Fund (EFSF) or the European Stability Mechanism (ESM) which together have been capitalized to the…
Given the relative scarcity and high cost of rare earth minerals, it’s only natural that companies that currently depend on the stuff would search for substitutes. And if anything is going permanently to break…
Candy maker The Hershey Co. (NYSE: HSY) told an investors’ conference in New York today that the company will raise its investment in five core brands over the next five years “in a disciplined…
The US Census Bureau reported this morning that new home sales for the month of May reached a seasonally adjusted annual total of 369,000, much better than the April total of 343,000 and even stronger…
Over the last three months shares of Sears Holdings Corp. (NASDAQ: SHLD) have lost about a quarter of their value, falling from near $85 to around $52. In the three months preceding that drop,…
The troubles for Chesapeake Energy Corp. (NYSE: CHK) just keep rolling in. It seems that after one rock gets turned over and something shady has been revealed, the effort to turn over more rocks…
A Swiss newspaper reported over the weekend that Swiss-based Credit Suisse Group AG (NYSE: CS) may bring forward a planned issue of $6.26 billion in contingent convertible bonds — called CoCos — from October…
A major supplier of the engines and transmissions that drive the hydraulic fracturing (fracking) at US oil and gas wells announced this morning that it is reducing its second quarter and full year guidance.…
Internet research firm comScore Inc. (NASDAQ: SCOR) today released its rankings of the top web properties for the month of May. The top 5 of the 50 sites ranked by unique visitors is pretty…
The three major US stock indexes opened higher this morning as markets treated the Moody’s downgrade of 15 major banks as old news that was already baked into share prices (our coverage here and…
In an SEC filing dated today, Pershing Square Capital Management L.P. chief William Ackman revealed ownership of 41,922,908 shares of newly public Burger King Worldwide Inc. (NYSE: BKW). Ackman is a well-known hedge fund…
General Motors Co. (NYSE: GM) today issued a recall of more than 475,000 Chevrolet Cruze sedans to correct a problem that could lead to fires in the car’s engine compartment. The recall covers cars…
Independent oil & gas producer Forest Oil Corp. (NYSE: FST) replaced its CEO this morning with an interim chief executive from its own board of directors. The departing CEO, H. Craig Clark, had been…
Shares of Ryder System Inc. (NYSE: R), the truck rental and leasing firm, are getting pummeled today following last night’s revisions to the company’s second quarter and full fiscal year forecasts. The second quarter…
Standard & Poor’s Indices, a division of the McGraw-Hill Companies (NYSE: MHP), has announced changes to two stock indexes that are scheduled to occur next week. Patriot Coal Corp. (NYSE: PCX) is being dropped…
Richmond Fed President Jeffrey Lacker issued a statement this morning defending his lone vote against the Fed’s extension of Operation Twist. Lacker said that more monetary stimulus would not make a “substantial difference” in…
Tesla Motors Inc. (NASDAQ: TSLA) is kicking off sales of its new Model S sedan this month, and the company wants to make it easier for buyers to drive one off the lot. To…
More bad news last night from the coal miners. Arch Coal Inc. (NYSE: ACI) announced that it would fire approximately 750 full-time employees and close 3 of its “higher-cost” thermal coal mines and associated…
Independent oil & gas company Harvest Natural Resources Inc. (NYSE: HNR) today announced the sale of its Venezuelan assets to Pertamina, the national oil company of Indonesia, for $725 million in cash. The company…