Archive for David Anicetti

Dr. Reddy Stock Drops by 14% Following Warning by FDA

Dr. Reddy the drug maker based in India received new warnings from regulators in the U.S. on its processes used in manufacturing at two factories in the southern part of India, said company officials on Friday. The announcement sent its shares of stock lower. Dr. Reddy’s stock was down 14% at the end of trading […]

Germany Pressures Volkswagen as Scandal Enters Another Dimension

On Wednesday, officials in Germany stepped up their pressure on automaker Volkswagen to clean its act up after it said it understated the consumption of fuel of some of its vehicles, which opened another front in the crisis at the biggest carmaker in Europe. The company announced late Tuesday that it understated the amount of […]

Amazon Debuts Online Deals Store for Black Friday

Expanding on its success of the sales holiday known as Prime Day earlier this year, Amazon has announced that it is now going to launch a store that is dedicated only to deals for Black Friday, where members of Amazon Prime can have early access to some of the company’s best discounts. The Deals Store […]

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 […]

ADP Says Employers Added 200,000 Jobs in September

In September, companies increased their hiring, indicating the job market in the U.S. was remaining firm even though there is weaker demand globally according to a new payroll report from ADP. An increase of 200,000 in jobs for September followed a revised increased of 186,000 for August showed figures released by ADP on Wednesday. The […]

Shell Pulls Out of Exploration in Arctic

Royal Dutch Shell has abandoned its search in the Arctic for oil after it failed to find sufficient crude. The move appears to appease environmental campaigners along with shareholders who said the project was too risky and too expensive. This withdrawal comes six weeks following the last clearance by the U.S. and three months after […]

Finish Line Profit Declines, Misses Forecasts for Revenue

Finish Line announced that its profit had slipped during its most recent quarter as overhead expenses that were higher offset a slight increase in its revenue. Sales at its stores opened for a minimum of one year were higher by 1.5% during its second quarter. The metric cooled after it jumped by 5.5% during the […]

Martin Winterkorn CEO at Volkswagen Resigns Amid Emissions Scandal

Martin Winterkorn the CEO at Germany-based automaker Volkswagen announced on Wednesday his resignation as the company is grappling with a cheating scandal regarding its emissions. Winterkorn said he was shocked at the events that have taken place the past couple of days and above all stunned that this misconduct on this large of a scale […]

Sales of Pre-Owned Homes in U.S. Drops More Than Forecasted

Sales of pre-owned homes in the United States fell more than what had been forecast for August as the lean inventories slowed the momentum for this year. Closing, which normally take place one month or two after the signing of a contract, declined by 4.9% to just over 5.31 million based on an annual rate […]

Volkswagen Must Recall a Half Million Vehicles

On Friday, the White House administration directed German carmaker Volkswagen to recall close to 500,000 cars saying the automaker used software that had been designed intentionally to circumvent the environmental standards for lowering smog. The notice of violation was issued by the Environmental Protection Agency and accused VW of breaking the law through installing software […]

Consumer Prices in U.S. Post First Drop in Past Seven Months

Consumer prices in the U.S. unexpectedly fell during August as the prices of gasoline started to decline ago and a strong U.S. dollar curbed an increase in other goods, pointing to tame inflation that will complicate the decision by the Federal Reserve on hiking interest rates. The U.S. Labor Department announced on Wednesday that the […]

China Grabs Funds Unused by Towns and Cities for New Projects

Authorities in China have seized as much as 1 trillion yuan or $157 billion for different local governments who have failed to use their entire budget allocations, said sources, as Beijing looks for more ways to spend money to work its way out of its economic slowdown. A strategist in Shanghai stated that the economy […]

Salmonella Cases Tied to Chipotle Restaurants

A report that was issued by the Department of Health in Minnesota says that 45 salmonella cases have been reported since September 2. Thirty-four of the people have had interviews with members of the health department and of the 34, there were 32 who either had eaten or likely ate at one of 17 different […]

New Unemployment Applications Drop 6,000

Fewer Americans applied last week for unemployment benefits keeping this indicator that is an important metric for the health of the labor market near all time lows. On Thursday, the Labor Department said that applications for last week for benefits from unemployment dropped by 6,000 to an adjusted seasonally rate of 275,000. The average of […]

Concordia Healthcare Buying Amdipharm Mercury

Canada’s Concordia Healthcare Corp said Tuesday that it agreed to purchase Amdipharm Mercury a drug maker from Cinven a private equity company based in Europe in a deal valuing the company at nearly $3.5 billion, which includes debt. The deal will expand the geographic footprint of Concordia to over 100 countries and will give it […]

Critic Attacking Chipotle With a Negative Ad Campaign

An advocate for consumer rights published an advertisement of a full page in the New York Post as a means of a visual attack against Chipotle the Mexican food fast casual food chain, igniting a social media firestorm. The CCF or Center of Consumer Freedom produced the full page ad that depicts an overweight man […]

Travel Jacket Maker Had $20,000 Goal But Received $9 Million

With a goal of making the air travel experience much more hassle-free and smoother, BauBax LLC in July launched a campaign for crowdfunding on the Kickstarter site that it needed $20,000 to help its special travel jacket come to life. The jacket boasts to have 15 features. While it did not receive its target of […]

Worker Productivity Revised Up for Second Quarter

U.S. Productivity during the spring rose at its fastest rate since the latter part of 2013 while the cost of labor declined. Worker productivity was up at an annualized rate of 3.3% during the quarter April through June, reported the Labor Department on Wednesday. The rate rebounded from the first three months of 2015 when […]

CEO Marchionne Fuels Merger Talks Between Fiat Chrysler and GM

CEO of Fiat Chrysler Automobiles Sergio Marchionne is maintaining his campaign of merging with General Motors. Marchionne publicly has pushed for the consolidation, citing the rising cost of production amongst a number of other reasons, since he oversaw the Fiat and Chrysler merger. He has been eyeing the possible combination of GM and FCA even […]

Consumer Sentiment Declines in U.S. to Low of Three Months

Consumer confidence fell during August to a low of three months as the recent turbulence in the stock market weighed on the outlook of Americans for the economy in the upcoming year. The University of Michigan consumer sentiment index for August fell from July’s 93.1 to 91.9. The projection by analysts averaged 93, which was […]

McDonald’s Says No to McWhopper Offer by Burger King

McDonald’s declined a proposal by Burger King to partner in a McWhopper for world peace. The new burger would have combined the elements of the two chains’ famous Whopper and Big Mac burgers to create the McWhopper a new double-decker burger. These burgers would have been only sold for one day in a franchise that […]

Gas Prices Have Dropped over the Past Few Weeks

Filling up a passenger vehicle in the United States is the cheapest it has been in more than a decade, yet its remains too expensive. The average price of a retail gallon of gas in the U.S. dipped on Sunday to $2.95, which was down 7.4 cents from the week before and was the lowest […]

Smart Shirt by Ralph Lauren Laden with Sensors

The sensor-laden shirts by Ralph Lauren are finally being manufactured in masses providing the masses will pay $295 for the workout shirt. At an event held this week in New York City, the brand revealed the pricing as well as availability for the PoloTech line of apparel made in collaboration with OmSignal a tech startup […]

Jobless Claims Rise, But Analysts See Strong Labor Market

Jobless claims have increased for four straight weeks but are still at historical lows. The number of people in the U.S. seeking unemployment benefits for the first time rose just slightly this past week but remained as historical lows, which suggest there continues to be a strong labor market. Initial claims for unemployment, a proxy […]

Walmart Lowers Outlook As Profit Comes Up Short

Walmart the world’s largest retailer cuts its forecast for annual profit as it was hurt from a strong U.S. dollar as well as lower margins across the U.S. The company also was hit on more spending for e-commerce and on wages. The Arkansas based retailer reported that earnings for its second quarter were $1.08 per […]

Travel Delayed as Flights Grounded Due to Technical Problems

Technical problems at a Virginia air traffic control center left many passengers stranded due to hundreds of flights to and from different airports across a large around of the northeast were canceled or delayed on Saturday. The Federal Aviation Administration put the blame for the problem on technical issues at a Leesburg, Virginia air traffic […]

Shares of J.C. Penney Increase on Upbeat Earnings

J.C. Penney shares were up on Friday as the department store retailer continued its effort to turnaround its fortunes by reporting results for the quarter that topped estimates on Wall Street and boosting its guidance for the year. Penney’s stock increased by 8.55% shortly after the markets opened in the U.S. based in the reported […]

GE Selling Healthcare Financial Services to Capital One

General Electric Co reached an agreement with Capital One Financial Corp to sell its healthcare lending business in the U.S. and a large package of loans for $9 billion as part of an effort to streamline its operations. The U.S. based conglomerate said back in April that it would sell the majority of GE Capital, […]