The three major US stock indexes opened higher this morning, following on a positive debt sale by Portugal and some improvement in PMI numbers from Europe. ADP employment data did not meet expectations, but…
AMR Corp. (PinkSheets: AAMRQ) will cut $2 billion in costs, raise revenue by $1 billion, and trim its employee costs by 20% in an effort to escape from bankruptcy protection. The company’s CEO reckons…
New regulations proposed for Eurozone banks would require them to hold more assets in highly liquid forms like cash and high-rated government bonds have generated some pushback from the banks, which claim that the…
At mid-afternoon, we’ve seen some changes among today’s big movers. On the plus side are Medivation Inc. (NASDAQ: MDVN, Live Deal Inc. (NASDAQ: LIVE, RadiSys Corp. (NASDAQ: RSYS), Savient Pharmaceuticals Inc. (NASDAQ: SVNT), and…
The last time shares of Wal-Mart Stores Inc. (NYSE: WMT) topped $62 and change was almost exactly 10 years ago, in January 2002. The stock has posted a new 52-week (and 10-year) high today…
The US restaurant industry expects sales to reach a record high of $632 billion in 2012, 3.5% better than 2011, the second consecutive year that industry sales will exceed $600 billion. Employment in the…
Shares of development-stage drug maker Medivation Inc. have risen sharply today as the company said that its MDV3100 late-stage prostate cancer drug for patients who have failed chemotherapy extends life expectancy by 4.8 months.…
Among the major movers at around noon today are Amazon.com (NASDAQ: AMZN, Whirlpool Corp. (NYSE: WHR), AOL Inc. (NASDAQ: AOL), JDA Software Group Inc. (NASDAQ: JDA), and Unisys Corp. (NYSE: UIS). Shares of Amazon…
US low-priced air carrier Spirit Airlines Inc. (NASDAQ: SAVE) has ordered 75 new planes from the European Aeronautic Defense and Space Co. (OTC: EADSY), makers of the Airbus family of planes. The order is…
In 2011, global investment in new wind power generation totaled $74.6 billion. The latest estimate from Bloomberg New Energy Finance is that 2012 investment will fall to $60.8 billion and that the 2011 level…
Oil refiner Marathon Petroleum Corp. (NYSE: MPC) posted a quarterly EPS loss of -$0.21 this morning, way below the consensus estimate of EPS loss of -$0.06. Revenues rose to $19.44 billion, beating estimates of…
Last month homebuilder KB Home (NYSE: KBH) launched a tender offer to redeem notes due in 2014 and 2015, saying it would accept up to $100 million in requests to buy back the 2014…
There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Corinthian Colleges Inc. (NASDAQ: COCO), Key Tronic Corp. (NASDAQ: KTCC), Seagate…
The US Treasury will sell another $72 billion in debt next week. The total amount is consistent with the quarterly refunding auction size in effect since November 2010. The Treasury will auction $32 billion…
Demand for mining equipment and machinery is expected to grow by 8.5% in 2012 to a total of $92 billion. This should give a boost to heavy equipment makers like Caterpillar Inc. (NYSE: CAT),…
A federal judge in New Orleans has ruled that BP plc (NYSE: BP) must pay some claims against Halliburton Co. (NYSE: HAL) related to the Gulf of Mexico disaster that killed 11 workers and…
Germany is expected to lower its subsidy for solar projects again this year, and the predicted cut is increasing demand for solar panels in the country. At least that’s the view of Canadian Solar…
US index futures are higher this morning following on expectations of continuing improvement in the US economic picture. The employment report from ADP shows new job gains of 170,000 in January, slightly lower than…
Australian mining company Lynas is nearing completion of a rare earth metals refining plant in Malaysia that would be capable of producing about a fifth of the current global demand for the metals. The…
Earlier this week German Chancellor Angela Merkel called for stricter outside control of Greece’s budget as part of a deal authorizing €130 billion in a second bailout for the troubled country. Greek leaders and…