Jul 11 2012 @ 11:30
Cummins Inc. (
NYSE:CMI), on Tuesday, slashed its sales forecast for the full year. CMI stock fell sharply on Tuesday, dragging the Industrials sector down, following the downward revision. The stock has extended its losses in trading today, falling another 2%.
Jul 11 2012 @ 11:29
J.C. Penney Co. Inc. (
NYSE:JCP) announced additional job cuts at its Plano, Texas headquarters. After announcing in April that it would cut 600 headquarter jobs, the company today said that it will slash another 350 headquarter jobs. The retailer is cutting jobs as it looks to bring costs in line with those of its rivals.
Jul 09 2012 @ 17:14
Aluminum producer Alcoa Inc. (
NYSE:AA) kicked off the earnings season after-market close today. The company reported second-quarter earnings and revenue that beat Street estimates.
Jul 09 2012 @ 09:45
M&A activity continues to heat up in the third quarter. Earlier today, health insurer WellPoint Inc. (NYSE: WLP) announced that it agreed to acquire rival Amerigroup Corp. (NYSE: AGP) in a transaction valued at $4.46 billion.
Jul 06 2012 @ 11:03
It’s not just the retail sector which has felt the heat owing to global economic slowdown and declining consumer spending. The tech sector is also finding itself in precarious situation as businesses especially in the euro zone grapple with economic stagnation.
Jul 06 2012 @ 09:41
Seagate Technology Plc (
NASDAQ:STX), producer of a range of disk drive products, lowered its fourth-quarter revenue and margin outlook. STX’s fourth-quarter results were negatively impacted by quality issues at a supplier, and a faster-than-expected recovery in the hard disk drive market.
Jul 05 2012 @ 16:41
Netflix Inc. (
NASDAQ:NFLX) CEO Reed Hastings on Tuesday disclosed a huge spike in customer usage last month. The disclosure from Hastings sent NFLX stock sharply higher in trading today.
Jul 05 2012 @ 14:05
High rate of unemployment and steep fall in consumer spending amid economic slowdown took a toll on Costco Wholesale Corp.’s (
NASDAQ:COST) revenues in June. Although the Company’s revenues rose in June, it was lower-than-expected.
Jul 03 2012 @ 16:30
Boeing Company (
NYSE:BA) has raised its outlook for the jetliner market. BA now forecasts a $4.5 trillion jetliner market over the next 20 years for 34,000 new commercial jets. This is nearly half a trillion dollars more than the company’s previous year’s estimate.
Jul 03 2012 @ 16:28
It would be an understatement to say that BlackBerry maker Research In Motion Limited (NASDAQ:RIMM) is struggling. The Canada-based company has seen declining market share, delay in product launches, and worsening financial performance. But, Thorsten Heins, CEO of RIMM, still insists that nothing is wrong with the company.
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