Archive for May, 2014

Snapchat Boss Upset by E-mails

Evan Spiegel the CEO at Snapchat has apologized for the emails he sent while he was in college and a member of a fraternity. The emails celebrated being drunk and convincing women from a sorority to perform different sexual acts. The emails, which were laced with profanity were published this week by a blog and […]

Profit Rises for Costco Wholesale by 3%

Costco Wholesale Corp announced that its profit for the fiscal third quarter had increased as revenue and sales from fees for membership were up. The bottom line for the company missed expectations on Wall Street, while revenue topped those same estimates. Costco, which offers consumers savings by selling its groceries and other product in bulk, […]

Italian Banks Up With Rest of Europe Stocks

On Monday, European stock closed higher, with banks in Italy soaring following the election results for the European Parliament. In addition, hints of possible easing next week form Mario Draghi the President of the European Central Bank helped stocks. Volumes overall were lower due to holidays in both the U.S. and UK. Stock futures on […]

GameStop Profit Up 24%

GameStop reported quarterly earnings on Friday for the most recent quarter that ended May 3. The video game behemoth based in Grapevine, Texas enjoyed a good quarter with revenue of $2 billion, which was 7% higher compared to $1.87 billion from the same period one year ago. Profit for the three-month period was just over […]

Lowe’s Results Weighed Down by Severe Winter

Sales drop during first quarter but improvement seen in May by chain. Lowe’s Companies said a severe winter that included an additional period of cold and snow weighed on company sales during its fiscal first quarter. However, profit at the do-it-yourself home improvement chain increased. Shares for the chain of home-improvement stores were up 1% […]

Google Negotiating to Buy Twitch

Google wants to buy Twitch, a service that gives gamers the chance to stream their games. The negotiation is in its early stages. However, according to people who are familiar with the situation, Twitch is also considering just selling part of its company, not the entire thing. In another report online, a tech site said […]

GM Fined $35 Million for Ignition Switch Response

General Motors Co has been hit with a fine of $35 million for the delayed response it a defect in an ignition switch in millions of its vehicles. Federal regulators accused a number of officials at the company of hiding the problem that has been tied to a minimum of 13 deaths. Anthony Fox the […]

Walmart Blames Its Numbers on the Snow

Walmart reported flat quarterly revenue and earnings that missed expectations of analysts on Thursday. The largest U.S. retailer laid the blame on the harsh, severe winter that put a chill on business activity and cost the company nearly 3 cents a share. The giant in retail became yet another victim of the severe winter as […]

VW Has Enough Scania Shares for Successful Takeover

Volkswagen AG secured sufficient backing so it can move forward with its $9.2 billion bid to acquire Scania AB, removing its last hurdle to an effort of close to ten years to forge a unit of heavy trucks. VW, which has control of two thirds of Swedish Scania, received the support of a shareholder that […]

C-Max, Escape and Other Vehicles Recalled by Ford

Due to air bag malfunctions and an issue with a door handle, Ford Motors Corp issued two recalls that included over 750,000 vehicles, which includes the Ford C-Max and Escape in North America. The 65,000 C-Max and 692,000 Escapes released between 2013 and 2014 face a problem with software that could delay the air bags […]

Late Easter Drives April Retail Sales

Retailers posted sales that were sharply higher during April as warmer weather and a late Easter helped push more shoppers into stores. The results released on Thursday marked a second straight month that sales at same stores topped expectations. Sales from same stores are an industry figure that gauges the sales at stores that have […]

Repsol Exits Argentina after Selling YPF Stake

Repsol SA has sold nearly all is stake in YPF SA in Argentina, marking its final break with that company just two years after the Argentine government seized over 51% of the leading producer of oil in the country. Repsol sold off 12% via Morgan Stanley of YPF for just over $1.26 billion, which was […]

Powerade Eliminates Controversial Ingredient

Coca-Cola the owners of the popular sports drink Powerade is eliminating a controversial ingredient in the drink following the same move last year by PepsiCo in its famous drink Gatorade. The ingredient in question is brominated vegetable oil. It has been a target of a petition by a teenager in Mississippi, who questions why the […]

First Innovation Facility for Microsoft Based in U.S. to be in Miami

Microsoft Corporation has announced it will open its first training facility that is state of the art in Miami. It will also be the first such facility in the U.S. for Microsoft. The software maker giant already has more than 100 of the innovation centers around the world. The center will be downtown in the […]

Profit at Mastecard Beats Street

MasterCard Inc the second largest payments network has posted a profit for the first quarter that beat estimates of Wall Street analysts as spending by customers increased. Net Income was up 14% to end the quarter at $870 million equal to 73 cents per share from the same period a year ago of $766 million […]