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NYSE Market News

Best Buy Founder Considering a Buyout (BBY)

Jun 28 2012 @ 12:14
Best Buy Co. (NYSE:BBY) founder Richard Schulze is considering a buyout of the struggling company. The Wall Street Journal, citing people with knowledge of the matter, reported that Schulze is working with a Wall Street bank to take the company private. Schulze, who resigned abruptly as Chairman and director of Best Buy earlier this month, […]
 

General Mills Profit Beats Estimate, But Outlook Disappoints (GIS)

Jun 27 2012 @ 09:51
General Mills Inc. (NYSE:GIS) today announced better-than-expected fourth-quarter profit, driven by double-digit sales growth. But, the Minneapolis, Minnesota-based company gave a disappointing outlook, sending the stock lower in pre-market trading. General Mills, which manufactures and markets consumer foods, reported fourth-quarter adjusted earnings of $403.8 million, or $0.60 per share, up...
 

Lennar Q2 Profit Rises (LEN)

Jun 27 2012 @ 09:50
Homebuilder Lennar Corporation (NYSE:LEN) reported an increase in its second-quarter profit, driven by strong sales and a tax-related gain. However, the company expects a slow and steady recovery in the housing market. U.S. housing market has shown some signs of improvement in the last few months. On Tuesday, latest housing market data showed that home […]
 

Coca-Cola to Increase Investment in India (KO)

Jun 26 2012 @ 10:33
Beverage company Coca-Cola Co. (NYSE:KO) today said that it plans to boost its investment in India by another $3 billion over the next eight years. Coca-Cola is increasing its investment in India as it looks to expand its operations in the country. The $3 billion investment comes on top of a $2 billion five-year investment […]
 

Walgreens Pays US$6.7 billion in Cash and Stocks for 45% Stake in Alliance Boots

Jun 19 2012 @ 08:39
United States’ largest drugstore chain Walgreens (NYSE:WAG) announced today it entered into a “strategic transaction” by buying 45% interest in Europe’s leading health and beauty group, Alliance Boots, creating  “the first global pharmacy-led, health and wellbeing enterprise.”. The deal is valued at US$6.7 billion, comprising of $4 billion in cash and 83.4 million shares to […]
 

Kroger Co. Q1 Profit Rises, Beats Estimate (KR)

Jun 14 2012 @ 06:00
Kroger Co. (NYSE:KR), today, posted better-than-expected profit in its first-quarter, driven by strong sales. The higher-than-expected profit also prompted KR to boost its full-year profit outlook. Kroger, which is the biggest supermarket chain in the U.S., reported a 4.2% increase in its identical-supermarket sales, excluding fuel. This is the 34th straight quarter where the company has...
 

Textron Confirms Agreement with NetJets (TXT)

Jun 12 2012 @ 10:20
Textron Inc. (NYSE:TXT), today, confirmed that it entered into an agreement with NetJets Inc. to deliver as many as 150 of its Citation Latitude business jets. TXT expects to commence initial deliveries in 2016. TXT confirmed the signing of the agreement following a Wall Street Journal report that said NetJets intends to buy up to […]
 

Best Buy Founder Resigns from the Board; May Sell Stake in the Company (BBY)

Jun 07 2012 @ 10:22
Best Buy Co. Inc. (NYSE:BBY) founder Richard Schulze, today, resigned for the company’s Board. Schulze also said that he may sell his entire stake in the electronics retailer. Schulze has a 20.1% stake in BBY. The resignation of Schulze is the latest blow to the Minneapolis-based company. BBY has already been hit by a CEO […]
 

Wal-Mart Prepares Itself for Stormy Annual Shareholder Meeting (WMT)

Jun 01 2012 @ 10:37
As Wal-Mart Stores Inc. (NYSE:WMT) gears up for an annual general meeting on Friday, massive backlash is expected from investors and fragmented shareholder groups who are unhappy over company’s alleged role in a bribery scandal in Mexico. Infuriated over past deeds of executives and board of directors, these groups are calling for an ouster of […]
 

Hewlett-Packard to Slash 27,000 Jobs (HPQ)

May 24 2012 @ 10:39
Personal computer maker Hewlett-Packard Company (NYSE:HPQ) after-market close on Wednesday announced plans to layoff about 27,000 employees of 8% of its workforce over the next two years. The job cuts are part of company’s plan to jumpstart growth and save up to $3.5 billion annually. HPQ plans to make the layoffs mainly through early retirement. […]
 
 
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