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Stocks & Securities news Northern Foods hit by high energy costs and bird flu outbreak
By Rachel Stevenson Published: 11 October 2005 Northern Foods, which supplies ready meals for supermarkets such as Marks & Spencer, Tesco and Asda, warned yesterday that trading conditions remain tough and high energy costs were hampering attempts to improve margins. The company said rising energy bills are stalling the effects of a restructuring and cost-cutting exercise across the business, designed to combat the squeeze in prices demanded by the supermarket industry. Equitable drops claims against two ex-directors
Rupert Jones Tuesday October 11, 2005 The Guardian Equitable Life's blockbuster legal action continued to unravel yesterday, with the insurer dropping a negligence claim against two more of the former directors it blames for its troubles. Equitable said it had reached a settlement with David Wilson, the wealthiest of the ex-directors, with a reported £410m fortune, and former company secretary Roger Bowley. It has abandoned its claim in return for each ... Yum Brands profit rises 16 percent, raises full-year outlook
By Bruce Schreiner ASSOCIATED PRESS 7:28 a.m. October 5, 2005 LOUISVILLE, Ky. – Yum Brands Inc. posted 16 percent growth in third-quarter profits Wednesday on the strength of resurgent sales in China coupled with solid U.S. performances by its Taco Bell and KFC restaurant brands. The fast-food company also raised its full-year forecast, and its shares rose more than 4 percent in morning trading. Louisville-based Yum reported net income of $214 million, ... Motorola switching off 1,900 jobs
By Mike Hughlett CHICAGO _ As part of an ongoing effort to improve the performance of its supply chain efficiencies, Motorola Inc. said it will shed 1,900 jobs. Most of the global job cuts formally announced this week, however, had been disclosed in recent months. Many of the cuts are part of Motorola's attempt _ outlined over the summer _ to improve profit margins in its supply chain. For example, Motorola's Elgin, Ill., repair and distribution facility is being sold ... Delta will cut back on domestic flights
Effort meant to conserve energy, carrier says THE ASSOCIATED PRESS ATLANTA -- Delta Air Lines Inc., buffeted by high fuel costs after Hurricanes Katrina and Rita, said it is reducing its domestic flight schedule. The Atlanta-based carrier isn't experiencing a shortage of jet fuel but is conserving energy, it said. Delta spokeswoman Chris Kelly said it's impossible to say exactly how many flights will be reduced because it will depend on travel ... Toyota to buy Fuji shares from GM
By Ted Evanoff ted.evanoff@indystar.com Toyota Motor Corp. said today it will buy 8.7 percent of Fuji Heavy Industries Ltd. from General Motors Corp. Fuji owns the Subaru automobile brand and operates the 2,800-employee Subaru Indiana Automotive vehicle assembly plant at Lafayette. GM acquired a 20-percent stake in Fuji Heavy in 1999 in part to gain access to all-wheel-drive technology. GM said it will sell off its remaining shares in Fuji at a later ... Trump leasing Budd property
Oct. 04, 2005 The gaming firm has a slots-parlor license in mind. Residents of Nicetown are opposed. By Suzette Parmley Inquirer Staff Writer In a sign that it seeks to be a major player in Pennsylvania gambling, Trump Entertainment Resorts Inc. will lease land at the former Budd Co. factory in Philadelphia's Nicetown section in an effort to build a slots parlor. Donald Trump's casino company said yesterday that it would ... Brandywine Realty to buy Prentiss for $2 billion
Mon, Oct. 03, 2005 Associated Press PLYMOUTH MEETING, Pa. - Brandywine Realty Trust Monday said it will buy Prentiss Properties Trust for $2 billion, creating one of the largest office real-estate investment trusts. The deal will add properties in Washington, D.C, California and Texas to the portfolio of Brandywine, which is based in Plymouth Meeting. As part of the transaction, Prudential Real Estate Advisors will acquire a portfolio ... Gillette to be drag on P&G profits next two years
Posted on Mon, Oct. 03, 2005 Associated Press CINCINNATI - Integrating the Gillette Co. into the Procter & Gamble Co. fold will reduce P&G's profits by 20 to 26 cents per share in the current fiscal year ending June 30, 2006, and by 12 to 18 cents the following year, P&G said Monday. However, the effects of the $57 billion acquisition that closed Saturday should then be neutral, putting P&G back on track with its pre-Gillette earnings growth target ... Americas, Europe, Japan in decline, SIA stats show
Asia-Pacific region is booming at 20 percent annual growth Peter Clarke 10/04/2005 8:54 AM EDT LONDON — For the second month running actual semiconductor sales in the Americas, Europe and Japan have declined year-on-year, despite the fact that the global market is growing. And while the rest of the world is in decline the Asia-Pacific region is enjoying boom-like growth, according to statistics kept by the Semiconductor Industry Association. In August, ... US manufacturing expands in storm's wake
NEW YORK (Reuters) - U.S. manufacturing activity was surprisingly robust in September as new orders jumped in the aftermath of Hurricane Katrina, while August construction spending rose at a record rate, data released on Monday showed. The Institute for Supply Management said its monthly indexes of manufacturing activity for September was 59.4, well above average expectations of a drop to 52.0 and the 53.6 level seen in August. However, ISM cautioned that the jump was ... GM, Ford post lower U.S. sales, Japanese gain
Tuesday 4 October 2005, 10:44pm EST By Poornima Gupta DETROIT, Oct 3 (Reuters) - General Motors Corp. (GM.N: Quote, Profile, Research) and Ford Motor Co. (F.N: Quote, Profile, Research) on Monday posted big declines in U.S. vehicle sales in September as employee pricing discount programs lost their allure and sales of traditional SUVs plunged on higher gasoline prices. By contrast, Asian rivals Toyota Motor Corp. (7203.T: Quote, Profile, Research), Honda ... Merix posts loss in quarter
but CEO notes improvement Merix Corp. chief executive Mark Hollinger said the company's recent restructuring, which included deep job cuts in the Forest Grove company's local operations, had generated positive financial results more quickly than anticipated, helping deliver better-than-expected results in the first quarter of its 2006 fiscal year. The company still lost money, however. Merix, which makes printed circuit boards, said Thursday that it lost $545,000, or 3 cents a ... Spitzer fires back at Seligman
New York top cop widens fund investigation after lawsuit By John Spence, MarketWatch Last Update: 4:11 PM ET Sept. 29, 2005 BOSTON (MarketWatch) -- The ongoing fracas between New York Attorney General Eliot Spitzer and J. & W. Seligman & Co. entered a new round Thursday when Spitzer said his office has disclosed new evidence against the asset manager in a market-timing investigation. In a court filing in New York, Spitzer asked the court to order ... Red Hat's Earnings and Stock Soar
By Steven J. Vaughan-Nichols September 29, 2005 Red Hat's cash flow jumped by 48 percent year-over-year to $45.8 million in its last quarter, and its stock followed it skyward on Thursday. Red Hat Inc., announced its financial results for its fiscal second quarter, which ended Aug. 31, on Wednesday. Its total revenue for the quarter was $65.7 million, a year-over-year increase of 42 percent and a sequential increase of 8 percent. Of that sum, ... Micron posts surprise profit, shares up
By Rex Crum, MarketWatch Last Update: 10:16 AM ET Sept. 30, 2005 SAN FRANCISCO (MarketWatch) - Micron Technology shares rose 5% early Friday after the company reported a surprise quarterly profit due to stronger than anticipated sales for memory chips used in computers and cell phones. The stock (MU: news, chart, profile) gained 60 cents to $12.79. After Thursday's closing bell, Micron earned $43.1 million, or 7 cents a share, in the fourth ... Optimism lifts US stocks
29/09/2005 - 22:12:14 Stocks rallied strongly on Wall Street today as investors grew more confident about the prospects for the economy despite the impact of hurricanes Rita and Katrina. While many of the hurricanes’ long-term effects have yet to be determined, stocks rebounded after two weeks of losses on bullish comments from analysts and the government. But markets remain relatively unchanged for the month, and trading was very light. In ... US stocks: Blue-chips up as downgrade hurts tech
28.09.05 9.40am NEW YORK - US blue-chip stocks rose on Tuesday after Federal Reserve Chairman Alan Greenspan offered remarks considered benign for stocks, while technology shares were hit by a Wall Street downgrade of semiconductor companies. J.P. Morgan cut its view of semiconductor companies and lowered ratings on chip makers, including Cypress Semiconductor Corp. and Fairchild Semiconductor International Inc. The Philadelphia Stock Exchange Index of ... Stocks climb as confidence increases
By Ellen Simon The Associated Press NEW YORK — Stocks rallied strongly yesterday as investors grew more confident about the prospects for the economy despite the impact of hurricanes Rita and Katrina. The Dow Jones industrial average rose 79.69 to 10,552.78. Microsoft, one of the 30 Dow stocks, gained 27 cents to close at $25.94 a share. Boeing, also a Dow stock, added 7 cents to $67.28. Broader stock indicators also were ... Futures little changed
By TAVIA GRANT Friday, September 30, 2005 Posted at 8:10 AM EDT U.S. stock futures were mixed Friday on the final day of the third quarter. In Canada, Rothmans Inc. shares will be active after a Supreme Court of Canada ruling cleared the way for British Columbia to sue the tobacco company for billions of dollars in health-care costs. In the U.S., Standard & Poor's futures fell 0.50 points to sit 0.21 points below fair value, while Nasdaq futures fell 1.00 ... Ford to slash vendors of key parts
Big shift in the way it does business could help finances September 30, 2005 BY SARAH A. WEBSTER FREE PRESS BUSINESS WRITER Ford Motor Co. said Thursday it will reduce by half the number of companies from which it buys 20 key parts and commodities such as seats, axles, brake systems and bumpers for its vehicles. The move represents a major overhaul to the way Ford does business ... Lilly Warns of Suicidal Thoughts With ADHD Drug
Sept. 29 (Bloomberg) -- Eli Lilly & Co. warned doctors and patients that children and adolescents taking the Strattera medication for attention deficit/hyperactivity disorder may have a higher risk of suicidal thoughts. Five cases of suicidal thinking and one attempted suicide were found among 1,357 children in trials, the Indianapolis- based company said today. No deaths were reported. Lilly will put a warning on Strattera's label, which was updated in December to include the ... Mercedes head Zetsche defends massive job-cutting plans
FRANKFURT (AFX) - Dieter Zetsche, head of DaimlerChrysler's Mercedes unit, defended the company's decision to cut 8,500 jobs in Germany over the next 12 months at a meeting with workers today at the Mercedes' main factory in Sindelfingen, near Stuttgart. A company spokeswoman said Zetsche had reiterated comments made in a letter to workers. In the letter, Zetsche wrote that the Mercedes management 'really did explore all possibilities in recent months, but that 'we ... Research In Motion's shares in retreat
Deutsche Bank cuts to sell as subscriber worries surface By Rex Crum, MarketWatch Last Update: 10:26 AM ET Sept. 29, 2005 SAN FRANCISCO (MarketWatch) -- Research In Motion Ltd. shares fell as much as 8% Thursday after the maker of the popular BlackBerry handheld wireless-communications device reported disappointing second-quarter subscriber additions. Research In Motion (RIMM: news, chart, profile) fell $5.95, or 7.7%, to $71.30 in recent ... Samsung to invest US$33 bln in chip business
SEOUL, Sept. 29 (Xinhuanet) -- South Korean Samsung Electronics Co., the world's second largest maker of memory chips, announced Thursday a 33 billion US dollars plan to build a new production complex in Hwaseong, a city near Seoul. The company said in a statement it plans to build eight chip fabrication lines and one research center by 2012 to develop next-generation 50-nanometer chip technology in Hwaseong, some 50 kilometers south of Seoul. This will bring ... E*Trade Buys BrownCo for $1.6B
Web-based financial firm acquires JPMorgan Chase’s online brokerage service. September 29, 2005 E*Trade Financial said on Thursday it would acquire JPMorgan Chase’s online brokerage service, BrownCo, for $1.6 billion in cash, increasing E*Trade’s reach in the web-based financial services industry. The acquisition, which is expected to generate $154 million in pre-tax operating synergies, follows on the heels of E*Trade’s $700-million ... GE to buy IDX Systems for $1.2B
NEW YORK (MarketWatch) -- General Electric Co. will pay $1.2 billion to acquire IDX Systems Corp., a healthcare technology vendor, the companies said Thursday. GE Healthcare (GE: news, chart, profile) will pay $44 a share in cash for IDX's 31.2 million shares, a premium of about 25% to IDX's closing price Wednesday of $35.17. The price tag comes to $1.2 billion after accounting for cash and other equivalents at Burlington, Vt.-based IDX (IDXC: news, chart, profile) ... Sanyo in loss, to cut 14,000 jobs
Tokyo, September 28: Struggling Japanese electronics maker Sanyo Electric Co Ltd widened its loss estimate for this business year and said it will accelerate job cuts, exit the DVD player business and close some plants. Sanyo boosted its net loss forecast for the year to next March to 140 billion yen from 92 billion yen, citing sliding prices of electronics products and the lingering effect of earthquake damage to a chip factory in 2004. Following the announcement, ... Taser set to change marketing, state says
Firm discloses federal inquiry Robert Anglen The Arizona Republic Sept. 28, 2005 12:00 AM On the same day Taser International confirmed federal regulators are investigating the company, Arizona's attorney general said the stun gun manufacturer has agreed to change the way it markets its gun. Attorney General Terry Goddard's office said Tuesday that Taser has offered to increase product warnings, change some of its broad claims of safety and ... GM Canada and union agree to 3-year contract
By Ian Austen The New York Times WEDNESDAY, SEPTEMBER 28, 2005 OTTAWA General Motors of Canada and the Canadian Auto Workers have reached a three-year contract, narrowly avoiding a strike. The last-minute scramble late Tuesday to produce an agreement was in contrast to confident expectations of a deal earlier in the day. The union said that although the tentative agreement, offering only modest wage and benefit increases, had been reached, talks would ... |
On the web: Asian stocks rebound on heels of Wall Street (AFP via Yahoo! News)Asian stocks clawed back some ground in early trade Wednesday after Wall Street rebounded overnight on hopes for a US government rescue for ailing Detroit automakers. Asian stocks rebound, but caution prevails (Reuters via Yahoo! News)Asian stocks and oil recovered on Wednesday following recent sell-offs, but low-risk assets such as U.S. Treasuries also retained their luster, highlighting investor caution about the weakening global economy. Asia, Pacific stocks edge up (CNN)Asian and Pacific stocks were mostly up Wednesday after a volatile day on Wall Street that ended with a rally. Latin America stocks rally on US rebound (AP via Yahoo! News)Latin American stocks closed mostly higher Tuesday as bargain hunters helped drive a slight rally following steep losses the day before on concern the U.S. recession will be longer than expected. Latin American stocks up early on bargain hunting (AP via Yahoo! News)Most Latin American stocks closed higher Tuesday as bargain hunters moved into the market a day after stocks were dragged down by confirmation that the U.S. economy has been in a recession. Stocks rebound after GE keeps dividend (Reuters via Yahoo! News)Stocks snapped back on Tuesday from the previous session's huge losses after General Electric , a global bellwether, lifted optimism by pledging to leave its dividend intact in a tough economy. Stocks rise on financials, energy, GE (Reuters via Yahoo! News)Stocks rose on Tuesday as investors scooped up beaten-down shares after Monday's sell-off and news that bellwether General Electric would keep its dividend unchanged in a tough economy. Asian Stocks Advance on Central Bank Actions, Merger Activity (Bloomberg)Dec. 3 (Bloomberg) -- Asian stocks rose for the first time in three days as central banks stepped up efforts to ease the credit crisis and on signs of a revival in merger activity. China's Stocks Gain for Third Day; Construction Bank Advances (Bloomberg)Dec. 3 (Bloomberg) -- China's stocks rose for a third day, led by financial companies, amid evidence the government is buying shares to support the market. Stocks briefly cut gains after grim GM sales (Reuters via Yahoo! News)Stocks pared gains and the Dow industrials briefly turned negative on Tuesday after General Motors Corp posted a 41 percent slide in November auto sales, compounding investors' worries about the embattled U.S. auto industry. |
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