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Paul Grierson

Maybe Pfizer’s Offer Won’t Be The Last?

05/27/14 10:24:35 AM (Reuters) Shares in AstraZeneca fell 2.3 percent after U.S. drugmaker Pfizer said it would not make a formal bid to acquire its smaller British rival. But, as Ciara Sutton reports, many believe Pfizer may try again later this year. The merger would have created the world’s largest drugs company. But there was […]

Buffett Defends Coke, BNSF At Berkshire Annual Meeting

6:16 PM 05/03/14 By Luciana Lopez OMAHA, Nebraska (Reuters) – Warren Buffett on Saturday defended his recent controversial vote on executive pay at Coca-Cola Co and disappointing performance at railroad BNSF, as investors grilled him on his Berkshire Hathaway Inc conglomerate at its annual shareholder meeting. The investment guru was peppered with questions at the […]

Family Dollar To Cut Jobs, Shut 370 Stores As Sales Fall

8:26 AM 04/10/14 (Reuters) – Family Dollar Stores Inc , seeking to reverse declining sales and profit, said on Thursday it would it would cut jobs, shut hundreds of underperforming stores and slash prices. The discount retailer, which caters to lower income shoppers, many of whom live paycheck to paycheck, reported a 35 percent decline […]

Wal-Mart Partners With Wild Oats To Roll Back Prices On Organic Food

12:14 AM 04/10/14 By Lisa Baertlein (Reuters) – Wal-Mart Stores Inc wants Americans, even those on a budget, to buy more organic food. The retailer that leads U.S. stores in grocery sales said on Thursday it struck a deal to sell Wild Oats brand organic foods at non-organic prices. The move could help revive Walmart’s […]

Carnival’s Earnings And Outlook Down

( – Carnival Corporation & plc (NYSE/LSE: CCL) has reported a loss for its first quarter and a disappointing outlook for 2014. For the quarter ended February 28, 2014, the company incurred a loss of $15 million, or negative $0.02 per diluted share, compared to $37 million, or $0.05 per diluted share, in the first […]

IBM Says It Has Not Given Client Data To The U.S. Government

4:18 PM 03/14/14 By Marina Lopes NEW YORK (Reuters) – International Business Machines Corp has not relinquished its customers’ data to the U.S. government and would challenge any orders to do so, the company said in a blog post on Friday. The post by the world’s largest technology service provider is the latest backlash by […]

Men’s Wearhouse Finally Successful In Acquiring Jos. A. Bank

( – Apparently near the end of a six-month-long saga, The Men’s Wearhouse (NYSE: MW) and Jos. A. Bank Clothiers (Nasdaq: JOSB) announced that they have agreed that Men’s Wearhouse will acquire all of the outstanding shares of common stock of Jos. A. Bank for $65.00 per share in cash, for a total of $1.8 […]

Key Estimate Of U.S. Labor Productivity Revised Sharply Downward

( – The U.S. Department of Labor’s Bureau of Labor Statistics (BLS) has downwardly revised its earlier estimate of fourth quarter 2013 labor productivity gains. The BLS now estimates that nonfarm business sector labor productivity increased at a 1.8 percent annual rate during the fourth quarter of 2013, reflecting a 3.4 percent increase in output […]

RadioShack Shares Plunge On Fourth Quarter Results And Store Closing Plans

( – RadioShack Corporation (NYSE: RSH) reported a bigger than expected loss for its fourth quarter, which included the vital holiday shopping period, and announced that it was closing up to 1,100 stores. Shares of RSH have plunged over 20 percent in pre-market trading. The company incurred a net loss for the quarter ended December […]

New Home Sales Jump 9.6 Percent In January

January sales of new single-family houses rose 9.6 percent from the December sales rate according to estimates released jointly by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development (HUD). In January, new single-family houses were sold at a seasonally adjusted rate of 468,000 units compared to a upwardly revised December […]

Tesla Shares Soar On Fourth Quarter Results And 2014 Outlook

Tesla Motors Inc (NASDAQ: TSLA) has announced better than expected results for its fourth quarter and outlook for 2014. Shares of TSLA jumped sharply in Wednesday’s after-hours trading. The company incurred a net loss for the quarter ended December 31, 2013 of $16.3 million, or negative $0.13 per diluted share, compared to a loss of […]

Remington To Open Plant In Alabama

Remington Outdoor Company, America’s oldest and largest manufacturer of firearms and ammunition, will be opening a new plant in Huntsville, Alabama as it continues to increase production capacity in order to meet growing demand from consumers and military. The announcement prompted immediate speculation and finger-pointing in New York, the home of a large Remington Arms […]

Deere Results And Forecast Beat Expectations, But Sees Weak Demand For Farm Equipment

Deere & Company (NYSE:DE) has reported better than expected results for its first fiscal quarter and outlook for the rest of the year. Deere is projecting that its equipment sales will be down, but less than expected, for the full fiscal year as a drop in farm income will translate into lower demand for large […]

Activision Blizzard Share Price Up On Better Than Expected Results

Activision Blizzard, Inc. (NASDAQ:ATVI) beat estimates for its fourth quarter results based largely on sales of its “Call of Duty” series. Shares of ATVI jumped over 7 percent in Thursday’s after-hours trading. Over the past few years, the industry has suffered as spending on traditional video games has fallen as more consumers play on mobile […]

Humana Posts Fourth Quarter Loss On Special Reserve Accrual

Humana Inc. (NYSE: HUM) has reported a loss for the fourth quarter due mainly to its need to strengthen reserves on a group of legacy contracts which haven’t been sold since 2005. Humana incurred a net loss for the quarter ended December 31, 2013 of $30 million, or negative $0.19 per diluted share, compared to […]

Pending Home Sales Fall Sharply in December, Due in Part to Weather

According to a forward-looking indictor of home sales, pending home sales in the U.S. fell measurably in December. The report noted that abnormal December weather inhibited home shopping in much of the country. The National Association of Realtors (NAR) Pending Home Sales Index for December was 92.4, down 8.7 percent from November’s downwardly revised index […]

Durable Goods Orders in Larger Than Expected 4.3% Drop

New orders for manufactured durable goods decreased $10.3 billion, or 4.3 percent, to $229.3 billion in December – the second decrease out of the past three months. The decrease was led by orders for transportation equipment, which fell 9.5 percent to $73.1 billion. The lower than expected volume of new durable goods orders may to […]

P&G Earnings Down, But Beat Expectations

Procter & Gamble Company (NYSE:PG) reported a 16 percent drop in second quarter earnings which nevertheless beat expectations. However, non-routine gains in the prior year quarter distort the bottom-line year-to-year comparison relative to the company’s underlying operating results. For the second fiscal quarter ended December 31, 2013, net earnings attributable to Procter & Gamble were […]

Netflix Stock Soars on 4th Quarter Results

Netflix, Inc. (NASDAQ:NFLX) reported big gains in net income, revenues and new subscribers for its fourth quarter, along with a bullish forecast for the upcoming quarter. Shares of NFLX were up almost 18 percent in after-hours trading. The company also plans to continue production of original content with new seasons of House of Card, Derek, […]

Verizon Results Up on Growth in Mobile

Verizon Communications Inc. (NYSE:VZ) has reported strong earnings growth as its wireless operations added 1.7 million new retail mobile customers in the fourth quarter alone. For the fourth quarter ended December 31, 2013, net income attributable to Verizon was $5.1 billion, or $1.76 per diluted share, compared to a loss of $4.2 billion, or negative […]