Archive for October, 2015

Target and Walmart Unveil Plans for Holidays

Target and Walmart, two of the largest retailers in the U.S. rolled out on Thursday their plans to lure in shoppers to their stores during the upcoming holiday shopping season, which includes increased marketing, better looking stores and discounts. The moves by the two retailers illustrate just how important the shopping season during the holidays […]

Heineken Profits From Strong Sales in Americas and Europe

The third largest brewer in the world Heineken NV said on Wednesday that its revenues and volumes of beer grew more than had been expected during its third quarter, driven by stronger than expected sales in the Americas as well as a warmer than usual summer across most of Europe. The brewer based in Holland, […]

Bridgestone Buying Retail Chain Pep Boys

Bridgestone Corp announced that it has agreed to purchase the retail chain Pep Boys for $835 million, which pushes it deeper into the industry of auto-parts that has been the benefactor of Americans keeping their vehicles longer on the road. The price to take over the business is $15 in cash per share, a premium […]

American Airlines Posts Profit of $1.7 Billion on Fuel Costs

U.S. based American Airlines came close to doubling its net profit for its third quarter at $1.7 billion equal to $2.49 a diluted share, citing lower costs of fuel. The results compared to the airline’s profits of $942 million during the same quarter one year ago equal to $1.28 a diluted share. Not taking into […]

Western Digital Buying SanDisk the Maker of Memory Chips

Western Digital Corporation announced Wednesday that it has agreed to purchase SanDisk Corporation the maker of memory chips in a deal that includes stock and cash of $19 billion. Under the deal’s terms, investors of SanDisk would receive $86.50 per share in cash and stock for every share owned, representing a premium of 15% to […]

Halliburton Reports Drop in Sales of 36% as Fracking is Reduced

Halliburton Co’s saw its revenue fall by 36%, which helped to push the largest provider in the world of fracking services to a loss during the third quarter as the worst downturn in the crude market in decades is reshaping the industry. The company, based in Houston, had a $54 million loss equal to 6 […]

AT&T and Uber Testing Streaming of College Football

On Friday AT&T announced that it partnered with Uber and will roll out connect car rides across four cities for a limited period to let passengers see live college football games from their tablets while riding in the back of the vehicle. Since AT&T acquired DirecTV the satellite TV provider, in July for a price […]

Walmart Stock Plummets on Forecast of Lower Earnings

Shares of Walmart plummeted sharply on Wednesday after the retailing giant in the U.S. jolted the financial markets when it forecasted an earnings drop of between 6% and 12% during its fiscal year 2017. Shares at the Bentonville, Arkansas based company were lower by 8.7% on the unexpected announcement, delivered by Walmart executives during the […]

Ford Investing $1.8 Billion for Research in China

Ford Motor Co will invest $1.8 billion to develop new technologies that are aimed at attracting car buyers in China, underlining the importance of China to automakers despite the slowing growth of sales. The automaker based in Detroit said on Monday it would expand its R&D center in Nanjing a city in eastern China and […]

Shipments of PCs Continue to Drop

Personal computer shipments worldwide dropped during the quarter ending in September, as makers of PCs did not received a significant boost from the Microsoft launch of its new operating system Windows 10, shows data from two data trackers on Thursday. The International Data Corp said its shipments fell 11% to just 71 million units, which […]

Constellation Brands Beats on Profit as Sales of Beer Jump

Constellation Brands profit for the quarter easily beat estimates by analysts and the company increased its full year forecast for adjust profit again, driven by sales increases of beers under its Modelo and Corona brands. Shares of the company were up 3.8% in Wednesday premarket trading. Constellation has benefitted from strong demand from the increased […]

Business Growth in Euro Zone at Low of Four Months During September

Business activity in the euro zone grew at its slowest pace in the past four months last Monday. However, one sign of encouragement for the European Central Bank, service companies increased prices for just the first time in the past four years, showed a survey on Monday. The modest growth for the third quarter of […]

Sprint Likely to Have Layoffs with New Plan of Cost Reduction

Sprint is likely to be cutting some of its 31,000 strong workforce as part of the new cost reductions of $2.5 billion over the upcoming six months, a spokesperson with the company said on Friday. It is likely certain jobs are to be impacted by the cost cutting steps taking place, but it is too […]