Alcoa Company Earnings Preview: Uh-Oh
ThinkstockFrom those from whom not much is expected, not much is likely to be delivered. The consensus estimate for second-quarter earnings from Alcoa Inc. (NYSE: AA) have dropped about 60% in the past 90…
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Paul Ausick
Electric Vehicles May Not Be as Green as Many People Think
ThinkstockElectric vehicles, whether all-electric or hybrid, enjoy subsidies and incentives in nearly every country where they are sold because they are widely believed to reduce carbon emissions by enough to justify the costs of…
World’s Most Popular Apps in June
courtesy of Google Inc.For the first time in months, the most popular free app from the App Store at Apple Inc. (NASDAQ: AAPL) is not Candy Crush Saga. The honor in June goes to…
South African Platinum Miners Launch Wildcat Strike
ThinkstockSouth African miners at two platinum mines owned by Anglo American PLC’s Anglo American Platinum subsidiary (known as Amplats) have begun a wildcat strike, demanding that the company lift its suspension on 19 union…
Negative Equity Rates, Mortgage Loan Delinquencies Continue to Improve
ThinkstockThe latest data from Lender Processing Services Inc. (NYSE: LPS) shows that the total U.S. mortgage loan delinquency rate has fallen from 6.21% in April to 6.08% in May, and that mortgages in foreclosure…
Fiat Takes Third Option to Increase Its Stake in Chrysler
Courtesy Chrysler Group LLCItalian automaker Fiat SpA, which already owns 58.5% of Chrysler Group, has now exercised a third option on another 3.3% of the U.S. carmaker’s shares. The catch is that Fiat and…
IPO Coming for Coupon Site RetailMeNot
ThinkstockClaiming to be the world’s largest digital coupon marketplace, RetailMeNot Inc. has filed for an initial public offering (IPO) and set an offering price range of $20 to $22 a share. The firm expects…
Another Day, Another Reprieve for Greece
thinkstockA review of the Greek economy has concluded that the struggling country needs to make more changes if it is to meet the economic targets that will keep bailout funds flowing. The so-called troika…
Canadian Train Explosion Raises Questions on Rail Transport of Crude Oil
ThinkstockThe derailment and subsequent explosion of a 73-car crude oil train in Lac-Megantic, Quebec, in the early hours of Saturday morning has killed at least three people and scores more are reported missing. What…
U.S. Drought Less Widespread This Year
ThinkstockAt this time last summer, less than a quarter of the lower 48 states had managed to escape a nationwide drought. As of yesterday, less than half the lower 48 are experiencing drought conditions.…
Closing Bell for Wednesday on Wall Street: Markets Open Lower, Rise on Jobs News, Fall Again
July 3, 2013: U.S. equity markets opened lower this morning anticipating a blizzard of economic data out of the U.S. Mortgage purchase applications were first out, and down sharply from a week ago. Employment…
Samsung Buys Boxee; Jumps into Over-the-Top Video Melee
thinkstockIt probably had to happen sooner or later — and in technology, sooner is always better. A report at TechCrunch cites sources who have told the tech-gazing website that Samsung Electronics has acquired Israel-based…
Natural Gas Futures Gain After Storage Report
thinkstockThe U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks increased by 72 billion cubic feet last week, within the range for an expected build of between 51 and 75 billion…
Reality Bites: Martha Stewart Edition
ThinkstockMartha Stewart Omnimedia Inc. (NYSE: MSO) said in a filing today that it has changed its employment agreement between the company and Martha Stewart, the company’s namesake and public persona. We suggested back in…
Job Creation Remains at Five-Year High: Gallup
ThinkstockGallup’s June Job Creation Index remained equal to May’s reading of 22, the highest level since April 2008. The index for nongovernment jobs rose from a reading of 24 in May to 25 in…
Crude Oil Futures Rise on Falling Inventories
ThinkstockThe U.S. Energy Information Administration (EIA) released its weekly petroleum status report this morning. U.S. commercial crude inventories dropped by 10.3 million barrels last week, maintaining a total U.S. commercial crude inventory to 383.8…
ISM Services Index Hit by Lack of New Orders
ThinkstockThis morning’s report from the Institute for Supply Management (ISM) on non-manufacturing PMI showed that the U.S. services sector is growing, but at its slowest pace in the past 12 months. The index reading…
Payroll-to-Population Employment Rate Improves in June: Gallup
ThinkstockIn a tracking survey that estimates the percentage of the U.S. population employed at least 30 hours a week, Gallup reports that the payroll-to-population (P2P) employment rate rose from 43.9% in May to 44.8%…
New Jobless Claims Below Expectations
Ed Brown, via Wikimedia CommonsNew claims for unemployment benefits fell from 348,000 to 343,000 last week, according to the weekly report from the U.S. Department of Labor. The consensus estimate called for a drop…
May U.S. Trade Deficit Rises Sharply
ThinkstockThe U.S. Census Bureau and the Bureau of Economic Analysis reported this morning that the U.S. trade deficit for May totaled $45 billion, up from a revised $40.1 billion in April. That is a…