Market News
Coca-Cola (KO)
The Board of Directors of The Coca-Cola Company today approved the Company's 48th consecutive annual dividend increase, raising the quarterly dividend approximately 7 percent from 41 cents to 44 cents per common share. This is equivalent to an annual dividend of $1.76 per share, up from $1.64 per share in 2009. The first quarterly dividend is payable April 1, 2010, to shareowners of record as of March 15, 2010.
The increase reflects the Board's confidence in the Company's long-term cash flow. The Company returned $5.3 billion to shareowners in 2009, through $3.8 billion in dividends and $1.5 billion in share repurchases.
Feb 18 · 12:25:00 PM · Source: Company Press Release
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by Rich Pike
News Corp (NWSA)
News Corporation announced today it has reached an agreement to sell bTV, its Bulgarian terrestrial TV business, to Central European Media Enterprises (CME), the leading broadcaster in Central and Eastern Europe, for $400 million in cash.
The sale completes News Corporation's program of exiting its substantial Eastern European free-to-air broadcasting businesses. The transaction is subject to regulatory approval by the Bulgarian Commission for the Protection of Competition and other customary closing conditions.
Feb 18 · 12:22:00 PM · Source: Company Press Release
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by Rich Pike
Amazon (AMZN)
Amazon.com today introduced "Kindle for BlackBerry," a new application available as a free download from Amazon.com that lets customers enjoy over 420,000 books, including 102 of 112 New York Times Bestsellers, on a range of BlackBerry devices.
"Since the launch of our popular Kindle for iPhone app last year, customers have been asking us to bring a similar experience to the BlackBerry, and we are thrilled to make it available today," said Ian Freed, Vice President, Amazon Kindle. "Kindle for BlackBerry is a great way for customers to continue reading their current book wherever they are - in between meetings, at the grocery store or waiting in the doctor's office. We think customers are going to love how easy and fun it is to read their Kindle books on their BlackBerry."
Feb 18 · 12:18:00 PM · Source: Company Press Release
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by Rich Pike
Johnson & Johnson (JNJ)
The Wall Street Journal is reporting that Johnson & Johnson plans to cut the yearly performance-bonus maximums for 38% of its employees and freeze salaries for certain workers, according to an internal announcement and other company documents. J&J reported a 19% drop in fourth-quarter earnings, largely because of charges related to cost restructuring. The company had announced in November that it was eliminating 8,200 jobs, mostly overseas.
"The cost savings from this program are minimal. It is not why we implemented the program. This program is about creating a global compensation program that is consistent and equitable for our employees across the company," a J&J spokeswoman said.
Feb 18 · 12:10:00 PM · Source: Wall Street Journal
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by Rich Pike
Boston Scientific (BSX)
Pharmaceutical-Jobs.net is reporting that Boston Scientific has come up with a series of restructuring initiatives. The company is reducing non-sales related expenses and headcount to adjust its expense base for the changing market dynamics across some of its businesses as well as increased government regulation. Boston Scientific is planning to eliminate approximately 1000 to 1300 medical device jobs worldwide through its restructuring initiatives excluding any potential divestitures. This gross head count reduction is 8-10% from company's non direct labour base.
The reduction activities will be initiated this month and are expected to be completed over the next 18 to 24 months.
Feb 18 · 12:07:00 PM · Source: Pharmaceutical-Jobs.net
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by Rich Pike
Producer Price Index
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
IBM (IBM)
IBM today said its research labs have developed a new tool that will allow a user capture, reuse and share their web browsing history with friends and collegues.
The technology was developed in the company's West Coast lab and is now available on the IBM Research Labs Experimental Technology site that allows people to try, share and provide feedback on emerging technologies.
Feb 18 · 9:58:00 AM
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by Larry Etter
HP (HPQ)
HP today announced the expansion of its extensive retail publishing portfolio with new partners and solutions designed to help retailers profitably grow their in-store photo offerings and capitalize on the projected $73 billion retail photo opportunity.
HP keeps pushing into this part of the market.
Feb 18 · 9:53:00 AM
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by Rich Pike
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