Market News

Comcast (CMCSA)

Comcast said Wednesday it earned $944 million, or 33 cents per share, compared with $771 million, or 26 cents, in the same quarter a year earlier. Revenue was up 3 percent to $8.8 billion, slightly shy of the $8.85 billion analysts were forecasting.
Analysts were expecting earnings of about 25 cents per share.

Nov 4 · 12:33:00 PM · Source: Company News Release
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by Larry Etter

Amazon (AMZN)

Amazon.com, in an escalation of its price war with Wallmart, began offering hardcovers of John Grisham's "Ford County" and Barbara Kingsolver's "The Lacuna" for just $9 on Tuesday, the official release date for both books. Hardcovers generally have a list price of $24 or higher.
In mid-October, Walmart.com announced dramatic discounts for pre-orders of "Ford County," Sarah Palin's "Going Rogue" and other popular November publications. Wal-Mart.com initially charged $9 for the books, a price quickly matched by Amazon.com, then dropped to $8.98 by Wal-Mart.com.

Nov 3 · 1:36:00 PM · Source: Mercury News · Related: Walmart
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by Michael Oliveto

Black & Decker (BDK)

Stanley Works agreed to buy Black & Decker Corp. for $4.5 billion in stock, in a deal that will enable the companies--household names in the U.S. tools industry--to cut costs and exert more influence on pricing. Both companies have felt the pressues of the recession, particularly given their close links with the housing industry. The companies expect the combination, which has been approved by both companies' boards, will result in savings of $350 million a year and to add to earnings by the third year. The transaction would represent "a landmark move in the tools industry,??? and one that makes strong sense as the housing market resumes some growth and raw materials prices rebound, said Brian Sozzi, retail analyst at Wall Street Strategies. Together the companies have greater purchasing power.

Nov 2 · 10:09:00 PM · Source: Company News
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by Larry Etter

Ford (F)

Ford Monday posted third-quarter net income of $997 million and its first operating profit since early 2008.Ford's revenue fell $800 million for the quarter, to $30.9 billion, due mainly to its financial services arm, Ford Motor Credit, making fewer loans.
Profit is big surprise.

Nov 2 · 1:09:00 PM · Source: Company News
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by Larry Etter

Sony Corporation (SNE)

Sony Friday reported a net loss for the fiscal second quarter ended Sept. 30 of 26.3 billion yen ($287.5 million), compared with a net profit of 20.8 billion yen in the same period a year earlier. During the quarter, Sony booked restructuring costs of 32.8 billion yen, compared with costs of roughly 900 million yen a year earlier, Sales and operating revenue for the quarter fell to 1.66 trillion yen from 2.07 trillion yen a year earlier.
Loss was less than expected by Wall Street.

Oct 30 · 9:21:00 AM · Source: Company News
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by Larry Etter

Tim Hortons Inc. (THI)

Tim Hortons Inc. Friday said it had third quarter net income attributable to Tim Hortons of C$61.18 million or C$0.34 per share, compared to C$78.76 million or C$0.43 per share last year. Total revenues grew to C$563.55 million from C$509 million in the same quarter last year.

Oct 30 · 9:03:00 AM · Source: Company News Release
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by Larry Etter

Las Vegas Sands Corp. (LVS)

Sand Las Vegas said Thursday it lost $123 million, or 19 cents per share, during the third quarter, compared with a loss of $32.2 million, or 9 cents per share, a year earlier. Its quaterly revenue rose 3.2 percent to $1.14 billion, compared with $1.11 billion during the same quarter last year.
Revenue fell shy of analysts' predictions of $1.17 billion.

Oct 29 · 9:04:00 PM · Source: Company News Release
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by Larry Etter

Ford (F)

Ford announced today that a consortium led by Zhejiang Geely Group Holding Co. Ltd. is its preferred bidder in the ongoing discussions concerning the possible sale of Volvo Car Corporation.
Ford said that while it will be engaging in more detailed and focused negotiations with Geely, no final decisions have been made.

Oct 29 · 12:10:00 PM · Source: CNW Group
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by Michael Oliveto

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