Archive for mitch
Bank of America (BAC) Shakes-Up Management Team, Appoints Co-COO’s
Bank of America (BAC) announced Tuesday a reorganization of its management as its presidents of global wealth management and consumer banking both stepped down, while two others were promoted to newly created positions. The news comes as just the latest shakeup at Bank of America, where continued legal liabilities and poor stock performance have help [...]
Pfizer (PFE) Rises On Lung Cancer Drug Approval
Shares of Pfizer (PFE) received a bump on Monday following an approval by the Food & Drug Administration of its lung cancer drug XALKORI® (crizotinib). The world’s drugmaker received approval Friday after U.S. markets were closed, making it the only authorized producer of a positive small cell lung cancer drug or more specifically the first-ever [...]
Oracle (NSDQ: ORCL) Fiscal Q4 Profit Jumps 30 Percent On Strong Software Sales, Hardware Lags
Oracle (NSDQ: ORCL) announced record fiscal fourth quarter earnings after the bell on Thursday, topping estimates as revenue grew 12 percent. Software sales fueled the growth as hardware sales sagged in the period. The tech company said fourth quarter earnings were $3.12 billion or 62 cents a share, up from $2.36 billion or 46 cents [...]
Research in Motion (NSDQ: RIMM) Fiscal Q1 Profit Beats, Revenue Falls Short, Cuts Full-Year Guidance
Research in Motion (NSDQ: RIMM) reported fiscal first quarter earnings after the bell Thursday that were slightly ahead of estimates. However the company cut its full-year earnings guidance substantially. The mobile device maker said first quarter earnings were $695 million or 1.33 a share, down from $695 million or $1.38 a share in the same [...]
Steve Jobs’ Appearance At WWDC Fails To Rally Apple Stock (NSDA: AAPL)
Shares of Apple (NSDQ: AAPL) tumbled on Tuesday as CEO Steve Jobs appearance at the company’s Worldwide Developer Conference failed to rally the stock. Tuesday’s decline continued a late sell-off that began yesterday during the midst of the conference, shares finished lower $6 or 1.8 percent to $132.08. Jobs took a leave from his current [...]
General Motors (NYSE: GM), Ford (NYSE: F) May Auto Sales Hold Up Better Than Foreign Competitors
The major automakers released U.S auto sales results for the month of May on Wednesday. As expected, they all posted a decline as widespread parts shortages due to the Japanese earthquake on Mar 11 caused inventory shortages for dealers. However, General Motors (NYSE: GM) and Ford (NYSE: F) held up much better than their foreign [...]
Apple (NSDQ: AAPL) Jumps 3 Percent On News Of Jobs Presentation
Shares of Apple (NSDQ: AAPL) jumped 3 percent on Tuesday to close at $347.83 after news hit that CEO Steve Jobs will speak at the company’s annual Worldwide Developer’s Conference (WWDC) on June 6. Jobs will unveil Apple’s new iCloud, which allows users to store content online, such as music, rather than on local hard [...]
JP Morgan (NYSE: JPM) Deal Sets Return Of $800 Million To Lehman Estate
JP Morgan (NYSE: JPM) has reportedly reached an agreement with the Lehman Brothers Trustees that will return $800 million to former customers of the now defunct investment bank. The deal will not impact financial results, according to the bank. JP Morgan, who acted as the clearing agent for Lehman’s broker-deal arm, held onto the accounts [...]
McDonald’s (NYSE: MCD) Posts Strong Q2 Earnings As Sales Rise Worldwide
McDonald’s (NYSE: MCD) posted a 12 percent rise in second quarter earnings as sales were strong worldwide, with Australia and China leading the way. The fast-food giant said quarterly earnings were $1.23 billion or $1.13 a share, up from $1.09 billion or 98 cents a share in the second quarter last year. Revenue totaled $5.95 [...]
Morgan Stanley (NYSE: MS) Tops Estimates On Strong Trading Revenue
Morgan Stanley announced Wednesday that it posted a second quarter profit following a loss in the prior year quarter. The results were driven by a 53 percent jump in revenue. The Wall Street bank and broker said second quarter earnings totaled $1.58 billion or $1.09 a share, compared to a loss of $1.26 billion or [...]
Bank Of America (NYSE: BAC), JP Morgan (NYSE: JPM) Target Fees To Offset Revenue Drags From Financial Reform
Several big name financial institutions, such as Bank of America (NYSE: BAC) and JP Morgan (NYSE: JPM) are looking for ways to increase fee income in order to offset expected revenue declines from the financial reform bill. The latest version of the financial reform bill passed on Thursday is expected to pressure revenue in several [...]
Wal-Mart (NYSE: WMT) Taps Castro-Wright As CEO Of Global.com, Simon Steps In As US CEO
Wal-Mart announced Tuesday changes at the Chief Executive level for two of its units. The retail giant appointed Vice Chairman Eduardo Castro-Wright as the president and CEO of Global.com and Global Sourcing, while also promoting Bill Simon to CEO of Wal-Mart U.S. Castro-Wright, 55, spent three years as the CEO of Wal-Mart de Mexico before [...]
Altria Group (NYSE: MO), Reynolds American (NYSE: RAI) Shares Jump On Supreme Court Appeal Rejection
Shares of Altria Group (NYSE: MO), parent of Phillip Morris USA, and Reynolds American (NYSE: RAI) both jumped more than 3 percent on Monday after the Supreme Court rejected appeals by the government on a suit that sought out upward of $280 billion of profits from the tobacco industry to cover health damages, along with [...]
Apple (NSDQ: AAPL) iPhone 4 Sales Exceed 1.7 Million
Apple Inc. (NSDQ: AAPL) announced Monday that it sold more than 1.7 million iPhone 4s in the first three days after putting the device up for sale, easily topping the record set by previous version of the device. The iPhone 4, which is the thinnest smartphone on the market, offers video calling, a high definition [...]
Goldman Sachs (NYSE: GS) Ordered To Pay $20.6 Million Related To Bayou Hedge Fund Fraud
The Financial Industry Regulatory Authority has ordered Goldman Sachs (NYSE: GS) to pay $20.6 billion to victimized investors of a Ponzi scheme run by Bayou Hedge Funds. The three-person arbitration panel for the financial regulatory agency ruled that Goldman Sachs should have been aware of the Ponzi scheme being run at the hedge fund. Goldman [...]
All their employees getting laid off with no chance of getting called back in Middlebury Indiana sure don't see any ...
What is wrong with this picture. Everyone has a price of $14-15, but these clowns come out with $4-5. ...
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