Criminal Trial Begins for Stryker (SYK)
The trial begins today on a federal criminal charge against a unit of Stryker Corp. (NYSE: SYK), a $20-billion medical device maker. The company is charged with marketing an unapproved mixture of materials to…
All Work
Paul Ausick
Morning Wire — US Stock-Index Futures Down
US index futures are down this morning following a weak earnings report from JPMorgan Chase & Co. (NYSE: JPM). The bank’s numbers were close, but not good enough. We have more coverage here. In…
Nigerian Strike Settlement Talks Break Down (XOM, CVX, RDS-A)
Talks aimed at avoiding a Monday strike of Nigeria’s oil field workers have broken down. The union representing the workers has said talks will resume Saturday. International oil companies Exxon Mobil Corp. (NYSE: XOM),…
IBM Wants to Build a Better Battery for Electric Vehicles (GOOG, IBM)
When Google Inc. (NASDAQ: GOOG) introduced its driverless car last year, many people wondered what that had to do with Internet search. More than two years ago, IBM Corp. (NYSE: IBM) established a research…
Apple Bungles iPhone 4S Introduction in China (AAPL)
Apple Inc. (NASDAQ: AAPL) doesn’t often make mistakes like this: the introduction of the company’s new iPhone 4S in China had to be suspended because the stores ran out of product. Now that may…
Australian LNG Project to Cost $34 Billion (TOT)
A joint venture between Japan’s largest energy company, Inpex, and France’s Total SA (NYSE: TOT) has approved spending $34 billion to construct a liquefied natural gas project off the northwest coast of Australia. The…
Europe’s Banks Still Sitting on Mountain of Cash
When European banks borrowed nearly half a trillion euros from the European Central Bank (ECB) in mid-December, the idea was that the banks would take the cheap money (1% interest for three years) and…
Volkswagen Sets China Sales Record (GM, F)
German carmaker Volkswagen AG sold 2.26 million vehicles in China and Hong Kong during 2011, up 18% year-over-year and a new record for the company. China is the company’s largest market for its Volkswagen…
Global Investment in Clean Energy Sets New Record in 2011
The US has taken back the honor of leading the world in investments in clean energy technology. China has led world investment since 2008. The total amount invested in clean tech during 2011 was…
US Corn Supply Estimate Remains Stable
The US Department of Agriculture today released its latest World Agricultural Supply and Demand Estimates, known as the WASDE report. The USDA estimates this year’s corn crop at 846 million bushels, down marginally from…
US Credit Card Balances Declining
The latest data from credit reporter Equifax shows that US consumer credit balances have fallen significantly since July 2010. The company reported the following trends: Bank credit card write-offs peaked at nearly 13% in…
LG Agrees to Meet Microsoft’s Royalty Demand (MSFT, GOOG, AAPL, MMI, ORCL, NOK)
Korea’s LG Electronics has agreed to pay a licensing fee to Microsoft Corp. (NASDAQ: MSFT) for the right to use Microsoft claims it owns and that is required for all makers of smartphone handsets…
Facebook to Reach 1 Billion Users by August
Social networking company Facebook is expected to claim 1 billion users by August 2012 according to UK research firm iCrossing. Facebook already has 800 million worldwide users, so the growth spurt is slowing somewhat.…
Wynn Resorts Tumbles on Lawsuit (WYNN)
The largest shareholder and vice-chairman of the board is suing Wynn Resorts Ltd. (NASDAQ: WYNN) to gain access to the company’s books and records. Kazuo Okada is a company founder who has ponied up…
Natural Gas Inventories, Prices Fall
The US Energy Information Administration today reported the US natural gas stocks fell by a total of 95 billion cubic feet, more than the drawdown of 86-90 billion cubic feet that analysts had expected.…
Morning Movers (DKS, TSCO, SAFM, WSM, INFY)
There are several stocks trading more heavily than usual this morning, and also experiencing large gains or drops in share prices. These include Dick’s Sporting Goods Inc. (NYSE: DKS), Tractor Supply Co. (NASDAQ: TSCO),…
PC Sales Fall, Mac Sales Rise in the US (HPQ, DELL, AAPL)
Fourth quarter sales of desktop computers in the US fell by nearly -6% year-over-year according to the latest estimate from Gartner Inc. (NYSE: IT). US sales were weak for leading vendors Hewlett Packard Co.…
Nigerian Oil Production Threatened by Strike (RDS-A, CVX, XOM)
Nigerian workers have been striking against the doubling of gasoline prices in the country since the government eliminated its subsidy on January 1st. Now the country’s 20,000 oil field workers are threatening to join…
Jump in Solar Stocks on Hopes for Higher Prices (JASO, JKS, HSOL, STP, YGE)
Most of China’s solar panel makers say large positive gains to share prices yesterday on reports that panel prices have stabilized. JA Solar Holdings Co. Ltd. (NASDAQ: JASO) rose nearly 35%, JinkoSolar Holding Co.…
Target Juices Stock Buybacks with Another $5 Billion (TGT)
Target Corp. (NYSE: TGT) figures that its current $10 billion stock buyback program will end early this year, so the company has announced a new $5 billion share repurchase plan to take up the…