Archive for October, 2014

Shares of Exxon Up after Revenue and Profit Beat Street

Exxon Mobil Corp announced its earnings for the third quarter were up by 2.5% as higher margins on refining and more improvements at its marketing and refining segment helped to offset a lower production. Shares were up by 2% during trading before the bell on Friday as the results beat Wall Street estimates. Over the […]

Gilead Sales Double, Profit Triples

Gilead Sciences Inc the maker of Sovaldi the drug for hepatitis C said this week that its net profit for the third quarter had tripled, while overall product sales doubled. This was despite a drop in sales of Sovaldi as patients and their doctors awaited a combination pill that was recently approved. The company, which […]

Problems at Port Threaten Retailers in U.S. for Holidays

A lack of transportation equipment and the possibility of labor disruptions at the Long Beach/Los Angeles port complex, the busiest in the nation, is delaying for as long as three weeks shipping containers, threatening the timely delivery of products to retailers for the upcoming holiday season. These delays are affecting huge retailers such as JC […]

Airline Profits Surge in Third Quarter

Airline stocks in the U.S. rose, extending one of the biggest rallies in the industry this year, after United Airlines and American Airlines led four air carriers in exceeding estimates for their quarterly profit. Alaska Air Group and Southwest Airlines also beat projections for earnings, as the airline industry was the beneficiary of strong passenger […]

Verizon Posts Higher Revenue and Net Income

On Tuesday, Verizon Communications reported higher revenue and net income for its third quarter. The company was helped by stronger growth in wireless subscribers and a demand for its internet service such as its high speed FiOS. Verizon, which bought out Vodafone Group this past year for its wireless division, said it increased its net […]

Electrolux Experiences Weak Growth Across Europe

Electrolux the global maker of home appliances announced a note of caution about its business in Europe by predicting the market growth at its low end of its financial forecast after it reported quarterly profit that was slightly better than had been expected early Monday. The company, based in Sweden, is vying for leadership in […]

Anonabox Suspended on Kickstarter Following Scam Accusations

Anonabox has had its donations frozen on Kickstarter as the Internet router, which is designed to make the user’s activity online anonymous, has received increased backlash. This suspension comes following the privacy tool’s huge successful campaign of crowd funding earlier in the week. The router was priced at $45 and is operated on the software […]

Roche Posts Flat Sales for 9-Months of 2014

Roche Holding AG the Swiss drug maker announced flat sales for the first 9 months of this year, but said on Thursday its results showed strong demand for its drugs for cancer and its new emerging products. Roche, which is based in Switzerland, posted group sales that exceeded 34.8 billion Swiss francs, which were practically […]

JPMorgan Reports Profit on Easing Legal Costs

JPMorgan Chase & Co has reported a profit for the third quarter, as the largest bank in the U.S. moved beyond the huge legal costs that caused the behemoth financial institute to post a loss during the same quarter one year ago. The bank has posted $5.6 billion in net income equal to $1.36 a […]

Manufacturer of Sapphire Screen Wants Contract With Apple Dropped

GT Advanced Technologies one of the suppliers for Apple of its sapphire screens urged a Friday bankruptcy court to free it from the contract it has with Apple. The touch screens that are sapphire from the manufacturer are a hugely durable synthetic replacement for glass that is currently used on many of the devices made […]

Profit Falls at Family Dollar on Price Cuts

Family Dollar Stores Inc , the discount retailer currently at the center of a takeover battle involving three companies, reported its earnings that did not meet expectations of Wall Street analysts after its price cuts trimmed profit margins. Net income for the fourth quarter dropped to just $34.5 million equal to 30 cents per share, […]

Retail Sales in U.S. to Reach High of Three Years

Retailers in the United States are expecting sales during the holiday shopping season to increase by 4.1% this year, to reach as much as $617 billion. Expectation is that more shoppers earning steadier incomes will spend more money on holiday gifts, according to a report released by the National Retail Federation. This is the first […]

Factories in Germany See Orders Drop 5.7%

Factory orders in Germany took a nosedive during August, signaling that the remainder of the year could feature less that strong economic output and it could even stagnate, said experts. The index fell more than 5.7% in adjusted monthly terms, said the economy ministry in Germany. This was far below the decline of 2.4% that […]

Record Exports in U.S. Narrows Trade Gap

The United States trade deficit shrank unexpectedly in August to its lowest level in over seven months thanks to exports moving up to a new record. The gap was narrowed by 0.5% to just over $40.1 billion, which is the smallest it has been since January of this year, from a $40.3 billion revised deficit […]

Real Name Policy Changed at Facebook

Facebook Inc is changing the way it treats people that do not use their given names on the social media network. The change in policy came about following complaints over the crackdown on the use of pseudonyms by users who are drag queens. The product chief of Facebook, Christopher Cox apologized in a Wednesday post […]