Market News
Citigroup (C)
According to a regulatory filing at the end of trading on Thursday, as of March 2011, Citibank will no longer provide financing for the credit cards of Zale with sales continuing to plunge for the specialty jewelry retailer.
Zale hasn’t been able to stop the continuing loss in market share it has been experiencing for years, and the drop in November sales of 18.6% has generated a lot of conjecture and buzz on what the future holds for the company, as the majority of its sales and profits are experienced over the final three months of the year.
Dec 29 · 5:17:00 PM · Source: American Banking News · Related: Zale Corporation
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by Michael Oliveto
Amazon (AMZN)
Amazon has said in a release that Kindle is the highest sold device from its website on this shopping season.
The data was not made available by the company but it was being said that on the peak order day of December 14, customers ordered 9.5 million items worldwide.
Dec 29 · 4:52:00 PM · Source: Duniyalive
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by Michael Oliveto
Apple (AAPL)
Apple's data-hungry iPhone at times overwhelmed London operator O2's network during the last six months but additional capacity helped ease the problem by December, O2 said on Tuesday.
O2, which is owned by Spain's Telefonica said some customers in the UK capital had periodically not been able to make or receive calls or transmit data because of pressure on the network from smartphones such as the iPhone. O2, whose exclusive contract to market the Apple handset in the UK expired in November, had seen an 18-fold increase in data traffic since the start of the year, a spokesman said.
Dec 29 · 4:38:00 PM · Source: Reuters
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by Michael Oliveto
Apple (AAPL)
Nokia Oyj announced that it has filed a complaint with the United States International Trade Commission (ITC) alleging that Apple infringes Nokia patents in virtually all of its mobile phones, portable music players, and computers.
The seven Nokia patents in this complaint relate to Nokia's pioneering innovations that are now being used by Apple to create key features in its products in the area of user interface, as well as camera, antenna and power management technologies.
Dec 29 · 4:36:00 PM · Source: Reuters
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by Michael Oliveto
Apple (AAPL)
Thomas Weisel upped Apple's price target from $245 to $250. They maintained their rating as Overweight.
2010 and 2011 EPS estimates were increased to $7.82 and $9.82, respectively.
Dec 29 · 4:10:00 PM · Source: The Street
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by Michael Oliveto
Exxon Mobil (XOM)
Russia's Gazprom expects to wrap up a deal on gas supplies from the ExxonMobil - led Sakhalin-1 project next year, Gazprom's deputy head told reporters on Monday.
ExxonMobil has said it is studying all options for selling gas from Sakhalin-1, which is owned by a consortium that also includes Russian oil firm Rosneft, Japan's Itochu and Marubeni and India's ONGC.
Dec 29 · 3:55:00 PM · Source: Reuters
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by Michael Oliveto
Exxon Mobil (XOM)
Exxon Mobil Corporation, through its affiliate Esso Exploration Angola (Block 15) Limited (Esso Angola), declared $3.5 million in grants for public health and education programs in Angola.
The ten grants, provided by the ExxonMobil Foundation, are aimed at combating malaria and expanding educational opportunities for women. The grants will be disbursed in partnership with national and international non-governmental organizations.
Dec 29 · 3:52:00 PM · Source: Scandanavian Oil and Gas Magazine
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by Michael Oliveto
Walmart (WMT)
In the largest settlement for a wage-and-hour class-action lawsuit in Massachusetts history, Wal-Mart agreed to pay $40 to all employees who worked for Massachusetts Wal-Mart locations between August 1995 and the settlement date.
The 2001 class-action lawsuit claimed Wal-Mart did not allow workers to have rest and meal breaks, refused to pay overtime wages, and even manipulated employees' time cards to lower their pay. The settlement will pay 87,500 former and current Massachusetts employees and payment will be determined by how many years an employee worked there. The average employee will receive around $734. However, neither party is allowed to comment about the issue.
Dec 29 · 3:48:00 PM · Source: Lawyers and Settlements
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by Michael Oliveto
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