Why Target Shares Fell Rather Than Rose on CEO Firing
Shares of Target took a hit of around 3% Monday morning following the resignation/firing of CEO Gregg Steinhafel. The interim CEO and chairman do not seem like serious candidates for the job.
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Paul Ausick
Used Car Demand Keeps Prices High in First Quarter
ThinkstockSales of used vehicles slipped 6.7% in the first quarter of 2014, from 9.8 million units in the year-ago quarter to 9.1 million units this year. Franchised sales were up 11% at 2.8 million,…
Tyson Foods’ Earnings Show Higher Costs, Food Inflation Warning
Tyson Foods reported mixed second-quarter fiscal 2014 results before markets opened Monday morning. Tyson's EPS guidance was way below the consensus estimate.
Target CEO Sacked
Target sacked Gregg Steinhafel, its CEO/president/chairman, and there should be little doubt about why: the massive data breach that hit the company just before the holiday season.
Pfizer Earnings Confirm Reasons for AstraZeneca Offer
Drug giant Pfizer reported better-than-expected first-quarter 2014 earnings before markets opened Monday morning, but revenues fell short. Shares traded lower in the premarket.
Pizza Store Papa Murphy’s IPO Fresh From the Oven
Pizza store operator and franchisor Papa Murphy's launched its initial public offering Friday morning, selling 5.8 million shares at the low end of its expected price range.
Can Endocyte Survive Its Cancer Drug Implosion?
Endocyte and Merck have terminated their joint late-stage study of an ovarian cancer treatment after the trials failed to show results. Endocyte expressed surprise at the recommendation to halt the trial.
Private Equity Firm Ares Management’s IPO Comes Up Short
Ares Management sold 11.2 million shares Friday morning at an IPO price of $19 a share, well below both the planned offer of 18.2 million shares and the expected price range of $21 to…
Chevron Earnings Hit by Production Shortfall, Lower Prices
Chevron reported disappointing first-quarter 2014 results before markets opened Friday morning. The company cited lower prices and volumes for crude oil as responsible for the shortfall.
AstraZeneca Declares Pfizer Bid ‘Inadequate’
British drug maker AstraZeneca once again rejected a takeover bid from U.S. pharmaceutical giant Pfizer, this one worth $106 billion (about £50 a share) in cash and stock.
CVS Blames Nasty Weather for Profit Miss
CVS Caremark reported mixed first-quarter 2014 results before markets opened on Friday morning. The company said harsh weather and the timing of the Easter holiday had an impact on the results.
Kraft Foods Earnings Boosted by One-Time Gains
Wikimedia CommonsKraft Foods Group Inc. (NASDAQ: KRFT) reported first-quarter 2014 results after the markets closed Thursday. The packaged food and beverage company posted adjusted diluted earnings per share (EPS) of $0.78 on revenues of…
The 4 Stocks That Toppled Markets
thinkstockMay 1, 2014: Markets opened mixed on Thursday as only the Nasdaq managed a positive showing at the start. None of the indexes moved very far from the break-even line all day following a…
New Car Prices Rise in Slightly in April
Nissan Motor Co.The April average sales price for a light vehicle slipped 0.1% from $32,188 in March to $32,141.Carmakers, on average, sold each vehicle for $47 less than in March. Year-over-year, April 2014 prices…
AT&T, DirecTV Deal Could Challenge Comcast, Time Warner Merger
DirecTV shares put up a new 52-week high Thursday on a report that AT&T may be interested in acquiring the largest U.S. satellite TV company. Such a combination would serve about 26 million subscribers.
April Car Sales Led by Big Gains for Jeep, Nissan
Automakers reported April U.S. sales throughout the morning Thursday, and sales for the month rose for most carmakers. The exceptions were Ford and Volkswagen.
Natural Gas Inventories Building Slowly
thinkstockThe U.S. Energy Information Administration (EIA) reported Thursday morning that U.S. natural gas stocks increased by 82 billion cubic feet for the week ending April 25. That compared with an expected increase of around…
Where Does Mulally Go Next?
courtesy of Ford Motor Co.When Ford Motor Co.’s (NYSE: F) Alan Mulally leaves the company on July 1, it is pretty unlikely that he will find a park bench somewhere and begin feeding the…
March New Construction Spending Slows on Lack of Public Spending
ThinkstockThe U.S. Census Bureau reported Thursday morning that construction spending in March increased by 0.2% to an estimated seasonally adjusted annual rate of $942.5 billion from an upwardly revised estimate of $940.8 billion in…
Ford’s Mulally Era Ends
The now legendary CEO of Ford, Alan Mulally, will retire on July 1 and be replaced by current COO Mark Fields, who will become president and CEO, as well as a member of the…