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Kerry Wise

Tiffany Operating Results Strong, But Adverse Arbitration Award Causes Loss

(Invests.com) – Tiffany & Co. (NYSE: TIF) reported fourth quarter results that were up on an ongoing basis in spite of the economic environment, but were turned into a loss by an unfavorable arbitration ruling. The company incurred a net loss for the quarter ended January 31, 2014 (fiscal 2013) of $103.6 million, or negative […]

SeaWorld Revenues Up

SeaWorld Entertainment, Inc. (NYSE: SEAS) reported higher fourth quarter revenue and record annual earnings even as its fourth quarter loss was larger than last year. The company incurred a net loss for the quarter ended December 31, 2013 of $13.5 million, or negative $0.15 per diluted share, compared to a loss of $8.8 million, or […]

Wholesale Sales Fall 1.9 Percent In January

(Invests.com) – Wholesale sales of $432.6 billion in January were down 1.9 percent from the downwardly revised December estimate, while still up 3.9 percent over January 2013 levels. That is according to the “Monthly Wholesales Trade: Sales and Inventories” report for January issued by the U.S. Census Bureau through the U.S. Department of Commerce. Sales […]

Staples To Close Up To 225 Stores, Stock Price Plunges

(Invests.com) – Staples, Inc. (NASDAQ: SPLS), shares have plunged over 10 percent in pre-market trading after the nation’s largest office supply retailer reported fourth quarter results, announced that it would close up to 225 stores by the end of 2015 and projected lower than expected sales for the first quarter. For the 13-week fourth quarter […]

Caesars Selling Four Casinos To Affiliate In $2.2 Billion Deal

(Invests.com) – Caesars Entertainment Corporation (NASDAQ: CZR) announced that it has agreed to sell four properties, including Bally’s Las Vegas and Harrah’s New Orleans, to Caesars Growth Partners, LLC. The deal, structured as an asset sale, is valued at $2.2 billion – including anticipated cash proceeds of $1.8 billion, assumed debt of $185 million and […]

Target Earnings Down, Warns Data Breach Might Impact Future Results

Target Corporation (NYSE: TGT) reported this morning a drop in fourth quarter earnings and warned that the aftermath of its data breach could have a material impact on 2014 results. Nevertheless, shares of TGT were up in pre-market trading. Net earnings for the quarter ended February 1, 2014 were $520 million, or $0.81 per diluted […]

Housing Starts Fall 16 Percent In January

The U.S. Census Bureau and the Department of Housing and Urban Development have jointly announced worse than expected new residential construction statistics for January 2014, adding more disappointing news after yesterday’s report of a plunge in homebuilder confidence. The number of privately-owned housing starts was at a seasonally adjusted annual rate of 880,000 in January […]

Campbell Soup Earnings Up 71 Percent

Campbell Soup Company (NYSE: CPB) has reported better than expected financial results for its second quarter, achieving a 71 percent increase in earnings year-over-year. The company’s second quarter revenues were helped, compared to the prior year quarter, by the late 2013 Thanksgiving and an acquisition. For the second quarter ended January 26, 2014, net earnings […]

Wholesale Inventories And Sales Both Up In December

Wholesale sales of $442.4 billion in December were up 0.5 percent compared to the upwardly revised November estimate, and were up 5.8 percent over December 2012 levels. That is according to the “Monthly Wholesales Trade: Sales and Inventories” report for December, issued by the U.S. Census Bureau through the U.S. Department of Commerce. Sales of […]

News Corp. Beats Expectations Even As Ad Revenues Fall

News Corporation (NASDAQ: NWSA, ASX: NWS) shares rose in Thursday’s after-hours trading as its second quarter results beat expectations. Total revenues were down year-on-year on weaker advertising and subscription sales, which were partially offset by gains in digital real estate services and book publishing. For the second quarter ended December 31, 2013, net income available […]

Boston Scientific Beats Expectations

Boston Scientific Corporation (NYSE: BSX), the medical device maker, has reported better than expected results – with quarterly net income up 80 percent year-over-year. Net income for the quarter ended December 31, 2013 was $108 million, or $0.08 per diluted share, compared to $60 million, or $0.04 per diluted share, in the fourth quarter of […]

Time Warner Cable’s Earnings Up as Residential Video Subscriptions Fall

Time Warner Cable Inc. (NYSE:TWC) announced better than expected fourth quarter results as falling numbers of residential television subscribers were offset by growing numbers of high-speed data customers and higher revenue per customer for both video and data services. For the fourth quarter ended December 31, 2013, net income attributable to TWC shareholders was $540 […]

Comcast Results Up, Will Increase Cash Returns to Shareholders

Comcast Corporation (NASDAQ: CMCSA, CMCSK) announced its fourth quarter and full year results this morning, along with increases in its stock repurchase program and dividend rate. For the fourth quarter ended December 31, 2013, net income attributable to Comcast Corporation was $1.9 billion, or $0.72 per diluted share, compared to $1.5 million, or $0.56 per […]

Starbucks Earnings Up 25%, But Revenue Growth Misses Expectations

Starbucks Corporation (NASDAQ:SBUX) reported better than expected earnings for the first quarter of its fiscal year 2014, but revenues were slightly below expectation. Nevertheless revenues were up 12 percent and coffee costs were down, leading to a 25 percent increase in earnings. Traffic was up in all geographical regions, but the company said that the […]

VMware in $1.5 Billion Deal to Buy Mobile Security Firm AirWatch

VMware, Inc. (NYSE:VMW), a leader in virtualization and cloud infrastructure, announced that it has agreed to buy privately-held AirWatch, the leading provider of enterprise mobile management and security solutions. VMware will pay approximately $1.175 billion in cash and approximately $365 million of installment payments and assumed unvested equity. AirWatch’s business is to secure mobile devices, […]

China’s GDP Up 7.7 Percent in 2013

China’s National Bureau of Statistics has reported that according to its preliminary accounting, China’s 2013 GDP was up 7.7 percent over 2012. This growth rate is much lower than in years prior to 2012, but slightly over the official government 2013 target of 7.5 percent and one of the strongest growth rates globally. Part of […]

Citigroup Misses Expectations As Mortgage and Bond Businesses Remain Weak

Citigroup Inc. (NYSE:C) reported lower than expected fourth quarter results as it suffered from continued weakness in the mortgage and fixed income securities businesses. Shares of C have been trading down over 2 percent in pre-market trading. Citigroup’s net income for its fourth quarter ended December 31st was $2.7 billion, or $0.85 per diluted share, […]

Wells Fargo 4th Quarter Earnings Up On Declining Revenue

Wells Fargo & Co. (NYSE:WFC) has reported better than expected fourth quarter results as lower credit losses offset a steep decline in mortgage lending. In spite of beating expectations, shares of WFC opened down while the Dow Jones and S&P 500 indices are both up. Net income for Wells Fargo’s fourth quarter ended December 31st […]

PC Shipments in 2013 Experience Worst Decline in PC History

Global personal computer (PC) shipments fell 10 percent in 2013 to 2009 levels – the worst decline in PC market history. Fourth quarter 2013 shipments were down 6.9 percent from 2012 levels, the seventh consecutive quarterly decline. That is according to preliminary data compiled by Gartner, Inc. (NYSE:IT), a leading technology market research and advisory […]

FedEx Sells $2 Billion in Bonds to Speed Stock Buybacks

FedEx Corporation (NYSE:FDX) has sold $2 billion principal amount of senior unsecured notes for the purpose of accelerating its previously announced share repurchase program. Under accelerated share repurchase agreements (ASRs) with Goldman, Sachs & Co. and JPMorgan Chase Bank, FedEx has agreed to buy from them a total of $2 billion of its common stock. […]