Archive for January, 2014

Google’s Profits Jump 17%, Earnings Miss

Larry Page the CEO at Google announced on Thursday that the Internet search giant ended 2013 with an increase of 17% in profits. The company said earnings had been $12.01 per share on revenue that was $16.68 billion. Net income for the period was $3.38 billion. Analysts estimated that earnings would be $12.21 per share […]

GDP in U.S. Up 3.2% During Fourth Quarter

The economy in the U.S. grew at a good rate during the fourth quarter of 2013, as consumers spent more and businesses increased their investment. The last six months of 2013, marked one of the best periods of growth over six months in the past decade. The gross domestic product, which is the goods and […]

US Airways and American Airlines Combine for $1.95 Billion in Earnings

American Airlines Group, the combination of US Airways Group and American Airlines, said on Tuesday the company had combined earnings in 2013 of $1.95 billion. The report was muddied up because of the bankruptcy and merger, which combined the two airlines and gave the numbers a large amount of asterisks. The net income announced excludes […]

Central Bank of Turkey Promises Rate Action

The governor of the central bank in Turkey increased expectations on Tuesday for an interest rate hike, denying he was being held hostage to political pressure, vowing to take decisive action in the fight against the country’s rising inflation and plummeting lira. Erdem Basci announced that the bank would not hesitate to tighten up the […]

Stock Futures: Stabilize Following Sell Off in Asia

The stock indexes in the U.S. showed signs of being resilient on Monday in trading prior to the opening bell as Wall Street attempts to rebound from its big selloff of last week. However, a huge Asia selloff on Monday, which battered the markets due to the growing turmoil over emerging markets because of plummeting […]

Peso in Argentina Plunges

The Argentine peso plunged this past week by 13% increasing the fears of another meltdown financially in the South American nation that went through a collapsed economy just over a decade ago. The government of Argentina devalued its currency on Thursday in an attempt to jump start economic growth. The resulting devaluing of the peso […]

India Threatens to Demolish Plant Owned By Coca-Cola

Authorities from Varanasi, a village the northern region of India said Friday they planned to demolish an illegal bottling plant owned by Coca-Cola that is the center of protests due to allegations it is extracting an excessive amount of groundwater. The revenue administration ordered the demolition of the plant in December in the state of […]

Profits Falls at Proctor & Gamble, Tops Projections

Second quarter income for Proctor & Gamble fell by 16% as the largest consumer products manufacturer in the world faced a tough comparison of results from a year ago, flat global sales and a stronger dollar. However, adjusted earnings at P&G exceeded expectations on Wall Street and the company kept its guidance for 2014. Shares […]

IBM Announces Mixed Results for Fourth Quarter

IBM’s results for the fourth quarter ended mixed as the earnings for the company were better than estimates, but its revenue missed analyst predictions as Big Blue’s hardware sales disappointed. IBM reported fourth quarter earnings of $6.21 billion or equivalent to $5.73 per share. Revenue was $27.71 billion, which was 5% less than for the […]

SABMiller Lager Sales Miss Estimates

SABMiller the second largest brewer in the world reported growth in beer volume during the third quarter that did not meet estimates of analysts on declining sales in Europe and sales that were weaker than had been anticipated across Africa. Beer volume was up 1% on the organic basis for the three month ended December […]

Good China Data Muted By Deutsche Bank

Deutsche Bank announced huge losses that caused the markets in Europe to start the week on the negative side as data from China that was slightly better than had been expected could not dispel an air of caution. Germany’s biggest bank reported a 2013 fourth quarter loss before taxes of 1.15 billion euros, which came […]

Apple and Samsung Extend Lead in U.S. Smartphone Market

Samsung and Apple hardware accounted for 68 out of every 100 smartphones that were sold in the U.S. during the last quarter of 2013. That figure is 11% higher than the fourth quarter of 2012, just over a year ago. Apple was able to widen its gap with Samsung after brisk sales were experienced for […]

Shell Warns Over Possible Missed Profit

Shell, the Anglo-Dutch energy company, announced a profit warning for the first time in a decade. The company said it expects its earnings for the fourth quarter to be $2.2 billion, which is 70% down from its $7.3 billion during the same period one year ago. Earnings for the full year are expected to be […]

Twitter Shares Get Boost After Analysts Initiate Coverage

Shares of Twitter were helped on Friday after Stifel analysts initiated coverage of the blurb-based business with a “Buy” rating and $75 price target. Analysts Jordan Rohan and Michael Purcell said, ” They said this value is hard to quantify and does not yet show up in the company’s earnings. The analysts believe the company will harness […]

UPS Shares Down After Company Warns of Lower Profit

Shares of UPS were down nearly 2% to $99 per share in midday trading after the company announced that its fourth-quarter profit will likely come in lower than what had been expected. UPS said its U.S. results were hard hit by a shortened holiday season and an unprecedented level of online shopping. This after the company […]

NuSkin Shares Plunge Amid Rumors of Illegalities

Shares of NuSkin dropped dramatically after officials in China confirmed they would investigate accusations that the company is operating an illegal pyramid scheme. Nu Skin, which makes skin-care and nutritional products, acknowledged that there likely would be a negative impact on its China revenue but that it was is too early to know whether its previous […]

Google Working on Smart Contact Lens

We have all heard of Google Glass so it should come as no surprise that a Google company, Google X is developing prototypes of a smart contact lens.  The contact lens will use a tiny wireless chips and miniaturized glucose sensors to help diabetics measure their glucose levels. The two chips are embedded between two […]

Acer Reports Loss in Fourth Quarter

Acer, the computer maker, reported a net loss of $251 million for its fourth quarter. At the same time, senior executives from the struggling Personal Computer maker have agreed to a cut in their pay of 30%. This is now the third straight quarter that Acer reported a loss, as the maker of PCs continues […]

Holiday Sales Drop at Best Buy

Best Buy Co. saw its holiday sales fall driven by weaker sales in its domestic stores. For the period that ended on January 4 (nine weeks), sales at same stores, which are for stores that have been open a minimum of 14 months and its online sales decreased by 0.8%, which was below the expectations […]

Shares at Burberry Spike Following Strong Quarter

In the Asia Pacific region, Burberry has seen sales growth of double digits. That and other sales figures helped Burberry stock to increase by up to 7% in trading in London Wednesday morning, following the luxury retailer’s report of strong sales during the recently ended holiday season. The company released earnings that said its retail […]

GameStop Stock Tumbles After Forecast Slashed

GameStop Corp saw its stock price plummet the most in the past 11 years after the retailer of video games cut its forecast for earnings due to sales being lower than anticipated for games and a lower profit margin from its consoles during the holiday shopping season. Shares were down by 18% by noontime on […]