Archive for July, 2015

Exxon Mobil Profit Lowest in Six Years on Oil Price Drop

Exxon Mobil Corp posted the worst quarterly performance by the company in six years as the worldwide glut in oil collapsed the prices quicker than explorers were able to cut costs. Net income was down to over $4.19 billion equal to $1 per share from last year’s $8.78 billion equal to $2.05 per share during […]

Twitter Falls on Worries Over User Growth

Twitter Inc shares were down steeply on Wednesday as much as 13.3% during the first few minutes of trading due to investors digesting the micro-blogging company’s earnings for the second quarter and its weak growth in users. That is a big reversal from the reaction of Tuesday immediately following the report on earnings, when shares […]

CurrentC a Rival to Apple Pay Rolling Out in August

Electronic payment system CurrentC backed by a number of the largest U.S. retailers, will start a limited rollout to the public in August, and says a national business news agency. The technology which is smartphone based is intended to rival that of the payment systems offered by Google, Samsung and Apple and a launch in […]

Charges for Restructuring Eliminate Nearly All Profit at Xerox

Xerox Corp hardly managed to end the second quarter with any profit after the copier and printer maker took a huge charge related to a revamping of its business, which provides care-management and administrative services to government programs in healthcare. Xerox, whose stock was down in trading before the bell by 0.7%, announced last week […]

All-Day Breakfast to Appear on Menu at McDonald’s

After completing successful tests in selected restaurants in San Diego, McDonald’s will be soon serving its McMuffins, Hash Browns and other breakfast menu items all day. The behemoth of fast food companies is said to be going forward with its plan or McMuffins around the clock along with all the other breakfast menu items. The […]

A&P the Grocery Store Chain Files For Bankruptcy

Great Atlantic & Pacific Tea Co the chain of supermarkets known more popularly as A&P has filed for Chapter 11 bankruptcy for a second time in the past five years. It said it was currently holding discussions with buyers for some stores. The company, which is 156 years old, hired Evercore Partners a specialist in […]

Google Comments Lift Etsy

On Thursday, during an earnings call, Omid Kordestani the Chief Business Officer for Google said just a single flattering thing about e-commerce company Etsy, which caused its stock to soar by over 38% in trading on Friday. While that is very good over the short term, adding over $700 million to market value during the […]

Revenue at Domino’s Misses Analysts Estimates

Domino’s Pizza Inc posted revenue for the quarter that missed estimates by analysts for just the first time in the past two years due to the strong dollar and added that CFO Michael Lawton would retire on August 31. Shares of the pizza company were down by 3% in midday trading Thursday on the NYSE. […]

JPMorgan Beats Estimates on Profit as Expenses Fall

Kicking off the earnings season for banks in the U.S. for the second quarter, JPMorgan Chase & Co reported an increase in profit that was better than had been expected on Tuesday, boosted by a drop in its restructuring and legal expenses and a tax bill that was smaller. Like other financial institutes, the biggest […]

Puerto Rico Cost of Living Soars as Debt Crisis Continues

In a recession for 9 years, the Caribbean island is battling as items in supermarkets that are 21% higher than the average in the U.S. even as more than 41% of the population lives amidst poverty. Puerto Rico is going through a severe fiscal crisis as it is in debt by more than $72 billion, […]

PC Shipments Drop Almost 12%, Apple Surges

PCs are being purchased by fewer and fewer people, unless they have the Apple logo on them, shows the lasted data from the industry. Global shipments of PCs plunged to 66.1 million units, which was worse than had been expected during the second quarter of 2015. That marked a decline of 11.8% compare to last […]

United Airlines Flights Resume after Being Grounded Two Hours

United Airlines has resumed flights after a glitch in its computers halted all of its departures in the U.S. for close to two hours. The glitch disrupted travel for thousand of United passengers in its second similar setback in less than two months. The Federal Aviation Administration in the U.S. disclosed the end of the […]

Amazon Ready to Launch Prime Day

Amazon.com Inc is planning to leave behind Black Friday in its wake. On Monday, the company announced that Black Friday would have to step aside because Prime Day was here. The e-commerce behemoth revealed that July 15 would be the launch day for huge sales it called bigger than any Black Friday, the day following […]

JetBlue Flying to Cuba with Regularly Scheduled Flights

The United States has resumed diplomatic relations once again with Cuba for just the first time in over 50 years. That has caused airlines to seize a huge opportunity to carry Americans to the Caribbean island nation that for the majority remains a mystery. The White House eased travel restrictions to Cuba, which allows American […]

CEOs at Whole Foods Apologize For Overcharging

Executives of Whole Foods are admitting that the chain has overcharged New York City customers, but promised that if it were to happen against they will give the food away for free to customers. Walter Robb and John Mackey, Whole Foods co-CEOs, apologized to their customers through a video that was filmed in the fruit […]