June 24, 2010 at 3:59 p.m.
Filed under:
Credit Cards,
Earnings
By Becky Yerak
A new credit card rule that limits late fees will reduce annual earnings of Discover Financial Services by $80 million to $90 million a year, Chief Executive David Nelms said Thursday.
Under new Federal Reserve rules that kick in on Aug. 22, credit card companies can’t charge a late fee of more than $25, or $35 if a consumer has been late on one of their last six payments.
On its flagship Discover More card, late fees are currently $19 on balances up to $250 and $39 on balances of more than $250. Get the full story »
June 22, 2010 at 6:55 a.m.
Filed under:
Earnings
By Reuters
Walgreen Co, the biggest U.S. drugstore chain, posted a quarterly profit that missed analysts’ view, sending shares down 2.1 percent in pre-market trading. Net income fell to $463 million, or 47 cents a share, in Walgreen’s third quarter ended May 31, from $522 million, or 53 cents a share, a year earlier. Get the full story »
June 18, 2010 at 6:19 a.m.
Filed under:
Advertising/Marketing,
Earnings,
Internet
By Reuters
Facebook’s financial performance is stronger than previously believed, as the Internet social network’s explosive growth in users and advertisers boosted 2009 revenue to as much as $800 million, according to two sources familiar with the situation. The company also earned a solid net profit, in the tens of millions of dollars last year, one of the sources said.
Get the full story »
June 15, 2010 at 7:47 a.m.
Filed under:
Earnings,
Manufacturing
Reuters | Diversified U.S. manufacturer Illinois Tool Works Inc raised the mid-point of its second-quarter earnings forecast Tuesday, citing “increasing demand across a broad set” of its customers inside and outside of North America.
Get the full story »
June 10, 2010 at 11:25 a.m.
Filed under:
Earnings,
Stock activity
Reuters | WW Grainger Inc.’s daily sales for May jumped 16 percent, and the
industrial distributor said it expects to benefit from the oil spill
clean up in the Gulf of Mexico, sending its shares up about 5 percent.
The company said it saw an increase in sales for products such as oil
booms, degreasers and safety supplies, and expects oil spill related
sales to contribute to growth for some time.
Get the full story »
June 9, 2010 at 6:11 a.m.
Filed under:
Earnings,
Manufacturing
Reuters | Navistar International Corp. posted higher quarterly earnings Wednesday as several one-time tax benefits helped the maker of engines and vehicles offset what it characterized as tough market conditions.
Navistar reported a profit of $30 million, or 42 cents a share, for the second quarter ended on April 30, up from $12 million, or 16 cents a share, a year earlier. Sales fell 2 percent to $2.74 billion. The results included value added tax recoveries of $30 million for Navistar’s truck segment and $12 million for its engine segment in Brazil.
June 4, 2010 at 4:18 p.m.
Filed under:
Autos,
Earnings,
Manufacturing
Associated Press | Auto parts supplier Tenneco Inc. said Friday that it has reached a deal
with lenders to raise some of its credit lines and extend their terms.
The Lake Forest company said its $550 million revolving credit facility
will rise to $622 million until March 16, 2012, when $66 million worth
of commitments from other lenders expire. After that, the revolver will
total $556 million and mature on May 31, 2014, the company said in a
statement.
Get the full story »
June 4, 2010 at 10:40 a.m.
Filed under:
Cell phones,
Earnings,
Technology
Dow Jones Newswires | Motorola Inc. expects its enterprise business to post annualized
growth between 5 percent and 8 percent through 2012, with wireless broadband and
“next-generation” public safety helping to drive sales in that time.
Greg Brown, co-chief executive of the company and chief of Motorola
Solutions, said he expects Motorola’s Enterprise Mobility Solutions’
“growth” business, which includes the public safety and wireless
operations, to expand at least 10 percent a year over each of the next
three years.
Get the full story »
June 4, 2010 at 10:31 a.m.
Filed under:
Autos,
Earnings,
Manufacturing
From Investor’s Business Daily | Lake Forest-based auto parts maker Tenneco fell five percent during brisk early morning trading, along with the major indexes, which tumbled after news of a weaker-than-expected jobs report.
Get the full story: investors.com.
June 3, 2010 at 5:23 p.m.
Filed under:
Earnings
Reuters | Ulta Salon, Cosmetics & Fragrance Inc posted a higher-than-expected quarterly profit, helped by improved merchandise margins, and the company forecast strong second-quarter results.
The company posted first-quarter net income of $13.7 million, or 23 cents a share, compared with $4.9 million, or 8 cents a share, a year ago.
Net sales increased 19.1 percent to $320.2 million.
Get the full story »
June 2, 2010 at 12:46 p.m.
Filed under:
Earnings,
Retail,
Stock activity
From Traders Huddle | Shares of Ulta Salon, Cosmetics and
Fragrance Inc. are down 7.23 percent on the Nasdaq Wednesday, a day
before the retailer is scheduled to release its quarterly earnings.
Analysts are forecasting a profit of 19 cents a share on $315.18 million
in revenue.
Read the full story: tradershuddle.com
June 1, 2010 at 11:40 a.m.
Filed under:
Autos,
Earnings,
IPOs
(Terrence Antonio James/Chicago Tribune)
Reuters | Zipcar Inc., a car-sharing service popular among college students
and city dwellers, filed for an initial public offering worth as much
as $75 million.
The company, founded nearly a decade ago, is a leader in so-called
car-sharing, a service that charges an annual membership and rents cars
at an hourly or daily rate. The service is successful in markets in
which car ownership is lower and parking is scarce and expensive, such
as urban areas and colleges.
Get the full story »
May 25, 2010 at 5:28 p.m.
Filed under:
Autos,
Earnings,
Economy,
Manufacturing
Dow Jones Newswires | Moody’s Investors Service upgraded Tenneco Inc. a notch thanks to
improving trends in the automobile sectors of North America and Europe.
The company, which makes various auto parts, last year was perched on
the edge of bankruptcy as tumult in the auto industry pushed it into the
red and constrained sales. Investor unease pressured its share price
below 70 cents, but it has since rebounded as Tenneco has posted three
straight quarters in the black.
Get the full story »
May 24, 2010 at 5:04 p.m.
Filed under:
Earnings,
Manufacturing,
Travel
Dow Jones Newswires | AAR Corp. predicted fiscal fourth-quarter earnings below Wall Street’s
expectations, but forecast higher revenue, citing a slower-than-expected
recovery in demand in its commercial aviation business.
Shares dropped 9 percent to $20.05 in after-hours trading. The stock is flat
this year.
The aircraft-leasing and maintenance company expects earnings of 25
cents to 30 cents on revenue of $355 million to $365 million, while
analysts estimated 38 cents and $340 million, respectively, according to
a poll by Thomson Reuters.
Get the full story »
May 24, 2010 at 6:44 a.m.
Filed under:
Earnings,
Food
Reuters | Campbell Soup Co. posted higher sales in its key U.S.
soup market, helped by increased promotional spending.
The world’s largest soup maker also said profit dipped to $168 million,
or 49 cents a share, in the third quarter ended May 2 from $174 million,
or 49 cents a share, a year earlier.
Get the full story »
