The Treasury said on Monday it is commencing an underwritten public offering of its remaining 2.4 billion shares of Citigroup common stock. Get the full story »
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Dec. 2, 2010 at 4:30 p.m.
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Filed under: Cell phones, Consumer electronics, Stock activity, Technology, Telecommunications Motorola shares fall on Q1 mobile loss forecast
Motorola CEO Sanjay Jha. (PRNewsFoto/Motorola, Andy Kuno)
Shares of Motorola fell 1.5 percent after it warned its cell-phone unit would post a loss in the first quarter, when key client Verizon Wireless is seen starting sales of Apple’s iPhone.
Analysts on Thursday cut their share price targets and earnings estimates for the company, which had only recently posted its first quarterly profit in years.
Motorola’s mobile chief and Co-Chief Executive Sanjay Jha flagged the loss during an investor conference late on Wednesday saying first quarter sales would involve a higher proportion of cheaper phones as the company looks to boost sales at U.S. operators such as AT&T, Sprint Nextel and T-Mobile USA. Get the full story »
CME Group shares rise on analyst upgrade
Shares of market exchange operator CME Group Inc. rose Wednesday after an analyst upgraded them from “hold” to “buy.” Get the full story »
Wal-Mart sees U.S. same-store sales up for holidays
A Wal-Mart employee stocks the shelves in Pompano Beach, Fla. (Joe Raedle/Getty Images)
Wal-Mart Stores expects U.S. same-store sales to rise during the holiday shopping season, when it hopes to lure its low- to middle-income customers with discounts on toys and electronics and free shipping for online orders.
The world’s largest retailer also posted higher quarterly profit Tuesday, buoyed by cost cuts and growth in international sales, and raised its full-year forecast. Get the full story »
Lifeway Foods says net income down in 3Q
Lifeway Foods Inc. reported Monday that its net income fell in the third quarter as the food maker’s costs rose. Get the full story »
Amazon hurt by rivals’ free shipping, deals
Amazon.com shares tumbled as much as 4 percent Monday on concerns that offers of free shipping by Wal-Mart Stores Inc and other retailers could challenge the online company’s results. Get the full story »
Buffett sells Carmax, Home Depot stakes
Warren Buffett’s Berkshire Hathaway no longer held stakes in used car retailer Carmax, home improvement retailer Home Depot or waste manager Republic Services as of September 30, according to a filing with securities regulators on Monday. Get the full story »
General Growth eyes dividend; Hughes trades
General Growth Properties plans to resume paying dividends early next year, after the second-largest U.S. mall operator emerged from bankruptcy and spun off a new company, Howard Hughes Corp.
Citing a higher-than-expected cash stake, General Growth also said it expects to retire $570 million of obligations by paying cash, avoiding the potential issuance of more than 50 million common shares. Get the full story »
Kraft shares fall 2.4% on outlook, Starbucks spat
Kraft Foods Inc. shares fell 2.4 percent on Friday, a day after the packaged foods company said its 2011 forecast included an extra week.
The maker of Maxwell House coffee, Cadbury chocolate and Velveeta cheese also said that Starbucks wants to end the companies’ 12-year-old deal whereby Kraft sells packaged Starbucks coffee. Get the full story »
Allstate tumbles after 3Q earnings miss estimates
Allstate Corp.’s shares tumbled in late trading after the insurer’s third-quarter profit missed analyst estimates.
Operating earnings of $452 million, or 83 cents a share, were down 16 percent from the same period a year earlier as Allstate’s homeowners unit reported an underwriting loss on costs tied to settling a class-action lawsuit. Analysts surveyed by Thomson Reuters had expected an operating profit of 98 cents a share. Get the full story »
Morningstar 3Q falls below Street expectations
Chicago data-tracking firm Morningstar Inc. reported quarterly earnings below Wall Street estimates, hurt by higher expenses, and said it would pay a dividend for the first time.
Net income for the third quarter was $20.8 million, or 41 cents a share, compared with $22.5 million, or 45 cents a share a year earlier. Get the full story »
