Producer Price Index

January Wholesale Prices Up Surprising 1.4%

Wholesale prices shot up at double the expected pace in January, propelled higher by big increases in energy costs. The Labor Department said Thursday that wholesale prices rose 1.4 percent last month, reflecting higher costs for gasoline and other energy products. Private economists had expected a 0.7 percent increase.
The surprisingly big increase was looked at as a temporary blip and not the start of inflation problems, analysts said.

Feb 18 · 10:09:00 AM · Source: AP
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by Larry Etter

HP (HPQ)

HP Fiscal Q1 Profit Up 25%

Hewlett Packard said late Wednesday its fiscal first-quarter profit was $2.3 billion, or 96 cents a share, on revenue of $31.2 billion. During the year-ago quarter, the computer and printing giant earned $1.9 billion, or 75 cents a share, on $28.8 billion in sales.
Earnings and sales topped analyst estimates.

Feb 18 · 9:52:00 AM · Source: Company Press Release
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by Larry Etter

Genzyme (GENZ)

Genzyme Reports 4th Qtr and Full 2009 Results

Genzyme reported fourth-quarter GAAP net income was $23.2 million, or $0.09 per diluted share, compared with $86.7 million, or $0.31 per diluted share, in the same period in 2008. Non-GAAP net income was $83.5 million, compared with $118.2 million in the fourth quarter of 2008. Non-GAAP earnings were $0.31 per diluted share, compared with $0.42 per diluted share in the prior fourth quarter.
Non-GAAP earnings in 2010 are expected to increase to $2.80 – $3.20 per diluted share. GAAP earnings are expected to reach $1.90 – $2.27 per diluted share. Revenue is expected to reach $5.23 – $5.53 billion in 2010, compared with $4.52 billion in 2009.

Feb 18 · 9:45:00 AM · Source: Company Press Release
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by Rich Pike

AT&T (T)

AT&T/Motorola Unveil Phone with MOTOBLUR

AT&T* and Motorola, Inc. today announced that the Motorola BACKFLIP ™ with MOTOBLUR™ will be available in AT&T stores nationwide and online at www.wireless.att.com beginning March 7. MOTOBLUR offers AT&T customers a new way to connect to their favorite people, content and applications.
This BACKFLIP will bring together social networking with an Android platform phone.

Feb 18 · 9:36:00 AM · Source: Company Press Release
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by Larry Etter

AT&T (T)

AT&T* and Motorola, Inc. today announced that the Motorola BACKFLIP ™ with MOTOBLUR™ will be available in AT&T stores nationwide and online at www.wireless.att.com beginning March 7. MOTOBLUR offers AT&T customers a new way to connect to their favorite people, content and applications.
This BACKFLIP will bring together social networking with an Android platform phone.

Feb 18 · 9:35:00 AM · Source: Company Press Release
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by Larry Etter

Walgreen (WAG)

Walgreen to Buy Duane Reade

Walgreen Co. said today it has definitively agreed to acquire Duane Reade Holdings Inc., operator of a chain of 257 New-York-area drugstores, from affiliates of Oak Hill Capital Partners. The deal price is nearly $1.08 billion, including assumption of debt.
Walgreen, which called the deal "a compelling strategic acquisition," will now have a leadership position in nation’s largest retail and drugstore market.

Feb 17 · 9:02:00 AM · Source: Company Press Release
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by Larry Etter

Verizon (VZ)

Verizon Wireless/Skype Announce Relationship

Verizon Wireless and Skype have announced a strategic relationship that will bring Skype to Verizon Wireless smartphones starting in March.
The new Skype mobile™ product enhances Verizon Wireless’ smartphones for users who have data plans by offering a new way to call around the globe, while also giving hundreds of millions of Skype users around the world the opportunity to communicate with users in the United States using Verizon Wireless.

Feb 17 · 8:45:00 AM · Source: Company Press Release
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by Larry Etter

Bank of New York Mellon (BK)

BNY Mellon To Acquire CIBC Mellon Trust Business

BNY Mellon said it has signed a definitive agreement to acquire the corporate trust business of CIBC Mellon. The acquisition is expected to close by the end of the
The acquisition will more than double BNY Mellon's share of the corporate trust market in Canada and expand its leadership position in a number of key segments, servicing domestic and cross-border debt issuances, structured credit and securitizations, government stimulus programs and public private partnership transactions.

Feb 17 · 8:40:00 AM · Source: Company Press Release
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by Larry Etter