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Japanese stocks down; dollar higher
Oct 26 2006 10:16PM (CT)
TOKYO (AP) - Japanese stocks fell Friday at midday on profit-taking after closing the previous day at a fresh five-month high. The dollar was higher against the yen.
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Microsoft earnings rise, beating views
Oct 26 2006 10:01PM (CT)
SEATTLE (AP) - Microsoft Corp.'s fiscal first-quarter earnings rose by 11 percent, exceeding Wall Street estimates, as the company said it benefited from stronger sales of server software and some cost savings.
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Sprint Nextel 3Q income down 52 percent
Oct 26 2006 9:43PM (CT)
KANSAS CITY, Mo. (AP) - Sprint Nextel Corp. just missed Wall Street estimates Thursday as subscriber numbers showed it has fallen farther behind in the wireless market.
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Red Hat under threat from Oracle
Oct 26 2006 8:04PM (CT)
RALEIGH, N.C. (AP) - One move by rival Oracle Corp. has turned Red Hat Inc. from a celebrated leader in open-source software to a fragile underdog.
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Sun posts narrower-than-expected 1Q loss
Oct 26 2006 5:41PM (CT)
SAN FRANCISCO (AP) - Server and software maker Sun Microsystems Inc. beat Wall Street's tepid expectations Thursday, reporting a narrower-than-expected loss for the first quarter thanks to the growing popularity of its newest operating system for corporate computers.
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Wendy's 3Q earnings flat
Oct 26 2006 5:03PM (CT)
COLUMBUS, Ohio (AP) - Wendy's International Inc. said on Thursday that earnings were flat in the third quarter from a year ago as the third-largest hamburger chain returns its focus to its core business.
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Falling dollar lifts gold, silver prices
Oct 26 2006 4:57PM (CT)
NEW YORK (AP) - Gold and silver prices rose Thursday, pushed higher as the U.S. dollar fell. December gold settled up $9 at $599.80 a troy ounce on the New York Mercantile Exchange, while December silver added 35 cents to $12.24 an ounce.
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Oil prices fall more than $1 a barrel
Oct 26 2006 4:52PM (CT)
WASHINGTON (AP) - Crude oil futures fell by more than $1 a barrel Thursday after climbing by more than $2 a day earlier in a sign of traders' uncertainty about supply and demand.
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Money funds fall in latest week
Oct 26 2006 4:41PM (CT)
NEW YORK (AP) - Assets of the nation's retail money market mutual funds fell by $1.57 billion in the latest week to $933.31 trillion, the Investment Company Institute said Thursday.
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Wal-Mart breaks ties with key ad agency
Oct 26 2006 4:12PM (CT)
NEW YORK (AP) - Wal-Mart Stores Inc. is severing ties with another longtime ad agency as it struggles to communicate its new image of being both a trend purveyor and a low-price operator.
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OfficeMax has biggest profit in 2 years
Oct 26 2006 3:46PM (CT)
CHICAGO (AP) - OfficeMax Inc. reported its biggest profit in two years Thursday as cost-cutting and other moves undertaken as part of a drastic turnaround plan helped generate a modest gain despite unimpressive sales. Its stock hit a new all-time high.
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Kellogg reports increased 3Q earnings
Oct 26 2006 3:34PM (CT)
GRAND RAPIDS, Mich. (AP) - An 8 percent increase in third-quarter sales led by such strong-performing brands as Eggo and Morningstar Farms boosted Kellogg Co.'s net income by 3 percent on Thursday.
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Glaxo, AstraZeneca shares sink
Oct 26 2006 3:25PM (CT)
LONDON (AP) - Shares of major drugmakers GlaxoSmithKline PLC and AstraZeneca PLC sank on Thursday despite strong third-quarter earnings reports because they disappointed Wall Street by announcing problems with important new products.
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Dollar extends fall vs major currencies
Oct 26 2006 3:20PM (CT)
NEW YORK (AP) - The dollar slipped Thursday, after the president of the European Central Bank warned that the bank would adjust its own rates if needed.
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Soybeans fall, grains mixed
Oct 26 2006 2:57PM (CT)
CHICAGO (AP) - Soybean futures increased while grains finished mostly lower Thursday on the Chicago Board of Trade.
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Apartment rent, demand is soaring
Oct 26 2006 2:52PM (CT)
LOS ANGELES (AP) - Kristin Zimmerman went looking for a new apartment recently after someone broke into her unit in a converted Victorian house in the Pacific Heights neighborhood of San Francisco.
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WSJ: SEC investigating mutual fund cos.
Oct 26 2006 2:01PM (CT)
WASHINGTON (AP) - Federal regulators are investigating 27 mutual fund companies that they say have siphoned hundreds of millions of dollars from investors by secretly taking kickbacks from contractors seeking to provide services to the fund companies, according to a newspaper report Thursday.
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Ex-American Standard CEO Marquard dies
Oct 26 2006 1:28PM (CT)
PISCATAWAY, N.J. (AP) - William A. Marquard, credited with reviving American Standard Cos. in the 1970s and 1980s, has died, the company announced.
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Gateway pressured by shareholders
Oct 26 2006 12:52PM (CT)
NEW YORK (AP) - Gateway Inc. said Thursday it will review a proposal from activist investors who are pressuring the computer maker to add three new board members and change other governance practices.
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Bristol-Myers Squibb 3Q profit plunges
Oct 26 2006 12:02PM (CT)
NEW YORK (AP) - Bristol-Myers Squibb Co., one of the nation's biggest drugmakers, said Thursday that its third-quarter earnings plunged 65 percent because two key drugs struggled with generic competition and results a year-ago were swelled by a one-time gain. It also raised earnings guidance for the year and said one of the government investigations into a patent deal has been expanded.
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Exxon posts $10.49B profit; shares up
Oct 26 2006 12:00PM (CT)
DALLAS (AP) - Oil industry behemoth Exxon Mobil's earnings rose to $10.49 billion in the third quarter, the second-largest quarterly profit ever recorded by a publicly traded U.S. company. Its shares briefly rose to a 52-week high.
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Starwood 3Q profit climbs
Oct 26 2006 11:58AM (CT)
NEW YORK (AP) - Starwood Hotels & Resorts Worldwide Inc. said on Thursday its third-quarter profit nearly quadrupled from results depressed by tax and restructuring charges a year ago. Bit the company's 2007 outlook was weaker than Wall Street expected, sending shares lower.
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Dow Chemical 3Q profit falls
Oct 26 2006 11:56AM (CT)
MIDLAND, Mich. (AP) - Dow Chemical Co. said Thursday its third-quarter earnings fell 36 percent due to a hefty restructuring charge related to asset shutdowns, but results beat Wall Street expectations as strong pricing helped offset increased raw materials and energy costs.
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Battery recall decimates Sony profit
Oct 26 2006 11:51AM (CT)
TOKYO (AP) - A global battery recall and red ink in its video-game business decimated Sony's profits in the most recent quarter, the Japanese electronics and entertainment company said Thursday.
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Oracle takes aim at Red Hat
Oct 26 2006 10:14AM (CT)
SAN FRANCISCO (AP) - Oracle Corp. Chief Executive Larry Ellison is shaking up the software industry again, only this time a takeover bid isn't involved _ yet.
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Raytheon 3Q profit rises 41 percent
Oct 26 2006 8:17AM (CT)
BOSTON (AP) - Raytheon Co. on Thursday said its third-quarter profit rose 41 percent, beating Wall Street expectations as the defense contractor enjoyed higher sales at its integrated defense systems and aircraft units.
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Comcast 3Q profits climbs
Oct 26 2006 7:45AM (CT)
PHILADELPHIA (AP) - Comcast Corp., the nation's biggest cable TV company, said Thursday its profit soared in the third quarter, bolstered by its acquisition of a former rival's cable assets.
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Wal-Mart adds 12 states to drug plan
Oct 26 2006 6:22AM (CT)
LITTLE ROCK, Ark. (AP) - Wal-Mart Stores Inc., the world's biggest retailer, said Thursday it is extending its $4 generic prescription drug plan to another 12 states, bringing to total to 27 states.
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Airbus CEO: China orders 150 airplanes
Oct 26 2006 6:15AM (CT)
BEIJING (AP) - China signed an order Thursday with Airbus Industrie for 150 mid-size A320 planes as the European aircraft maker took a major step toward opening a planned Chinese factory.
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Aetna 3Q profit up on membership growth
Oct 26 2006 5:59AM (CT)
HARTFORD, Conn. (AP) - Aetna Inc., one of the nation's largest health insurers, said Thursday its third-quarter profit climbed 28 percent on membership growth and premium and fee rate increases, and raised guidance for the full year.
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Dow Chemical OKs $2 billion buyback
Oct 26 2006 5:54AM (CT)
MIDLAND, Mich. (AP) - Dow Chemical Co., the nation's top chemical company and second-largest worldwide, said Thursday its board of directors approved a new $2 billion share buyback program.
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Report: Lockheed cuts cost amid pressure
Oct 26 2006 5:23AM (CT)
BETHESDA, Md. (AP) - Defense contractor Lockheed Martin has cut prices in the wake of congressional pressure over rising weapons costs, according to a published report.
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Fed may enter period of unchanged rates
Oct 26 2006 5:17AM (CT)
WASHINGTON (AP) - The Federal Reserve, after an unbroken two-year stretch of raising interest rates, may now be entering a prolonged period where the central bank keeps rates unchanged.
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Automaker: No plans to sell Chrysler
Oct 26 2006 5:06AM (CT)
FRANKFURT, Germany (AP) - DaimlerChrysler AG sought to quell rising speculation that it was considering selling its flagging Chrysler Group, saying that no such plan was in the offing.
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Sony's profit plunges 94 percent in 2Q
Oct 26 2006 4:58AM (CT)
TOKYO (AP) - Sony's profit plunged 94 percent for the July-September quarter as a global battery recall and red ink in its video-game business hurt the Japanese electronics and entertainment company.
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Nissan Motor profit surges 31 percent
Oct 26 2006 4:41AM (CT)
TOKYO (AP) - Nissan Motor Co., which drew the limelight earlier this year for discussing a possible alliance with General Motors, said Thursday that profit rose 31 percent in the July-September quarter, thanks partly to special gains that offset sliding sales.
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La. oysters pricier and less plentiful
Oct 26 2006 3:36AM (CT)
NEW ORLEANS (AP) - It's a lean year for Louisiana oysters and that means holiday stuffing made from mollusks this Thanksgiving or Christmas won't be cheap, say people in the business.
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GM, Chrysler Group post 3Q losses
Oct 26 2006 12:36AM (CT)
DETROIT (AP) - After months of restructurings, job cuts, management changes and other moves to lift their fortunes, domestic automakers still are posting losses as market share slips further toward their Asian rivals.
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Ethiopia, Starbucks embroiled in dispute
Oct 26 2006 12:01AM (CT)
SEATTLE (AP) - The Ethiopian government, Starbucks Corp. and a coffee industry association are embroiled in a spat over whether the coffee names Yirgacheffe, Sidamo and Harar belong to the African nation, or can be used by anyone without restrictions.
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