Headline News

Burlington Northern Santa Fe (BNI)

Berkshire Hathaway to Buy Burlington Northern

Warren Buffett's Berkshire Hathaway said Tuesday it will buy railroad operator Burlington Northern Santa Fe for $44 billion. Berkshire already has major stake in the company, and said it would acquire the remaining 77.4% of the company in a cash-and-stock offer worth $100 per share.
Buffett said deal shows his confidence in the U.S.economy.

Nov 3 · 9:50:00 AM · Source: Company News
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by Larry Etter

US Airways (LCC)

US Air To Refocus Operations, Cut Staff

US Airways Group said Wednesday it would cut its staff by 1,000, or 3 percent, and shift its operations to focus on four key cities and its shuttle service, . The carrier said it would concentrate on its "core network strengths," which are its hubs in Charlotte, Philadelphia and Phoenix, as well as Washington D.C. and its shuttle between New York, Boston and Washington.
The company feels the move will return the airline to profitability

Oct 28 · 3:48:00 PM · Source: Company News Release
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by Larry Etter

Owens Corning Inc (OC)

Owens-Corning Earnings Top Estimates

Owen Corning today reported third quarter earnings of $80 million, or 63 cents a share, compared with a loss of $807 million, or $6.35 a share in the year-ago period. Third quarter consolidated net sales of $1.3 billion during the third quarter of 2009, compared with $1.6 billion in the third quarter of 2008.
Results Beat Street estimates.

Oct 28 · 1:33:00 PM · Source: Company News Release
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by Larry Etter

General Dynamics (GD)

General Dymamics Profit Down, Sales Up

Defense contractor General Dynamics said its third quarter profits declined 9.8 percent to $572 million, or $1.47 a share, from $634 million, or $1.59, a year earlier. Revenue climbed 8.1 percent to $7.72 billion.

Oct 28 · 10:24:00 AM · Source: Company News Release
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by Larry Etter

Norfolk Southern (NSC)

Norfolk Southern Reports Q3 Earnings Decline

Norfolk Southern Corporation today reported third quarter net income of $303 million, or $0.81 per diluted share, compared with $520 million, or $1.37 per diluted share, for the third quarter of 2008. Third-quarter railway operating revenues were $2.1 billion, down 29 percent, compared with the third quarter of 2008, primarily the result of a 20 percent reduction in traffic volume and lower fuel-related revenues.
The company's CEO said the company's third-quarter results reflect the continuing weak economy, but also show Norfolk Southern's "resilience and the strength of our franchise."

Oct 27 · 8:00:00 PM · Source: Company News Release
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by Larry Etter

Armstrong World Industries (AWI)

Armstrong World Industries Posts Profit Increase

Armstrong World Industries, Inc., a manufacturer of flooring and ceiling products, said its third-quarter net earnings increased to $64.4 million or $1.12 per share from $38.9 million or $0.68 per share a year ago. Third quarter 2009 net sales of $753.0 million were down 19 percent from $929.6 million in the same period for 2008.
The company expects fiscal 2009 results above the current estimates of Wall Street analysts.

Oct 27 · 7:55:00 PM · Source: Company News Release
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by Larry Etter

Textron (TXT)

Textron Profit Tops Analysis Estimates

Textron said today that its third quarter net income fell to $4 million, or 1 cent a share, from $206 million, or 83 cents, a year earlier. Third-quarter sales fell 27 percent to $2.55 billion.
Profit exceeded analysts’ estimates as savings from job cuts helped compensate for reduced production.

Oct 27 · 11:07:00 AM · Source: Company News Release
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by Larry Etter

Caterpillar (CAT)

Caterpillar Announces Layoffs

Caterpillar the world's biggest maker of heavy machinery, said Monday it plans to permanently cut 2,500 workers even as increasing demand will allow it to recall some employees who were laid off during the economic downturn.

Oct 26 · 3:35:00 PM · Source: Company News Release
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by Larry Etter

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