Express Tumbles on Disappointing Outlook
Shares of Express Inc. (NYSE: EXPR) have plummeted in premarket trading after the specialty retailer forecast a third-quarter profit of $0.16 to $0.20 cents per share. That is well off the Wall St. estimate…
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Trey Thoelcke
Retail Group Optimistic About Holidays Sales
The National Retail Federation believes there will be a surge in holiday activity. Its forecast is particularly optimistic in light of worries about the fiscal cliff, an apparent slowing of the number of companies…
Engineers Union Rejects Four-Year Deal with Boeing
The Boeing Co.Boeing Co. (NYSE: BA) lost a round in its effort to settle labor issues with its engineers. The Society of Professional Engineering Employees in Aerospace said that more than nine in 10…
Courts Lifts Ban on Samsung Galaxy Tab 10 Sales
Despite efforts by Apple Inc. (NASDAQ: AAPL) to shut down the sales of the Samsung Galaxy Tab 10.1 in the United States, a court has decided that Samsung should not be prevented from doing so. Reuters…
Macy’s to Hire 80,000 Holiday Workers
Wikimedia CommonsMacy’s Inc. (NYSE: M) has announced that it plans to hire approximately 80,000 seasonal associates for its Macy’s and Bloomingdale’s stores for the 2012 holiday season. That would be an increase of about…
Workday Sets IPO Terms
Workday Inc., which provides cloud-based human resource software, says it expects to offer 22.75 million Class A shares of common stock in its upcoming initial public offering at an estimated price of $24 to…
Ceradyne Shares Surge on 3M Deal News
Ceradyne Inc. (NASDAQ: CRDN) shares jumped in premarket trading after 3M Co. (NYSE: MMM) announced that it plans to acquire the Costa Mesa, Calif.-based maker of ceramic products for about $860 million. The $35…
Apple May Be Looking to Get a Foot in the Door of India
The Economic Times reported today that Apple Inc. (NASDAQ: AAPL) may be evaluating opening its own stores in India. The iPhone and iPad maker currently supplies its products to Indian consumers through partnerships with…
Ferrellgas Partners Sputters in Its Fiscal Fourth Quarter
Ferrellgas Partners L.G. (NYSE: FGP) has reported a net loss of $0.45 per unit on revenue of $341.8 million for the fiscal fourth-quarter 2012. In the same period a year ago, the American propane…
Economic Fears May Undercut Fourth-Quarter Growth
A growing number of analysts believe the stock market cannot match its 5% advance in the third quarter. Among the most obvious reasons are worries that the fiscal cliff will slow or reverse hiring among…
iPhone 5 Maps and Apple’s Share Price
A muting of Apple Inc. (NASDAQ: AAPL) iPhone 5 sales because of trouble with the company’s map software is not built into the stock price. The map technology is so bad that CEO Tim…
Eurozone Unemployment Rises in August
The unemployment level in the euro area (EA17) rose to 11.4% in August, which matched July’s number. The jobless figure for the broader EU27 was 10.5%. Both figures demonstrate the extent to which recession…
U.K. Services Index Jumps in July
In July, the U.K. services sector grew 1.1% from June, when the sector fell 1.5%, according to the Office for National Statistics. That was the fastest pace of growth for more than a year.…
U.S. Banks Hit with Biggest Cyberattacks Ever
Security experts say the recent “denial of service” cyberattacks on big U.S. banks were the largest ever recorded by a wide margin. Since Sept. 19, the banking websites of Bank of America Corp. (NYSE:…
Worries About Spain Affect Global Markets
Global currency and stock markets continue to bounce around as the fight over the fate of Spain’s economy continues. Will its budget cuts be enough? Will it press for a huge bailout? The nation’s…
Paris Auto Show Coverage Overlooks Industry Troubles
The Paris Auto Show had its usual large number of new model introductions, along with dozens and dozens of displays of cars and light trucks already on sale around the world. Products from Audi, Toyota Motor…
Goldman Sachs Weighs In on China’s Economic Future
Experts continue to weigh in on what will happen to China’s gross domestic product as the world’s economic expansion slows, or even moves into reverse. The most recent opinion from an important group comes…
Discover Financial Beats on Both Top and Bottom Lines
Discover Financial Services (NYSE: DFS) reported fiscal third quarter earnings per share (EPS) of $1.21 on revenue of $1.96 billion. In the same period a year ago, the credit card issuer and payments network…
Fitch Cuts Forecast for Global Growth
Fitch Ratings has pared back its forecasts for global GDP growth to 2.1%, citing “persistent weakness” in the global recovery. That is down from Fitch’s June view of 2.2%. For 2013, the forecast was…
European Auto Makers See Bleak Future
Auto makers are losing money on every car they produce in Europe, Philippe Varin, chief executive of PSA Peugeot Citroen, told journalists at the Paris auto show today, a situation he called unsustainable. “The…