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CPI
The cost of living in the U.S. rose in January less than anticipated and a measure of prices excluding food and fuel fell for the first time since 1982, indicating the recovery is generating little inflation.
The consumer-price index increased 0.2 percent for a fifth straight month, led by higher fuel cost. However, the Labor Department figures revealed today showed that excluding energy and food, the "core index" unexpectedly fell 0.1 percent, reflecting a drop in new-car prices, clothing and shelter.
The big broader picture shows subdued inflation, giving the Fed to keep rates down for now.
Feb 19 · 2:52:00 PM
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by Larry Etter
Texas Instruments (TXN)
Texas Instruments has announced that Ralph W. Babb, Jr., chairman and chief executive officer of Comerica Incorporated and Comerica Bank, has been elected to TI's board of directors, effective March 15.
Feb 19 · 2:35:00 PM · Source: Company Press Release
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by Larry Etter
IBM (IBM)
IBM has been awarded a contract to modernize the U.S. Government's Acquisition and Procurement System. IBM will work to modernize a system that federal agencies and their suppliers use to source equipment, supplies, information technology (IT) and telecommunications services. The award made by the U.S. General Services Administration has a contract value of $74.4 million over an eight-year period.
This is another feather in the cap of IBM's services push.
Feb 19 · 2:32:00 PM · Source: Company Press Release
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by Larry Etter
HP (HPQ)
HP today introduced five point-and-shoot digital cameras and three camcorders with features such as LCD displays, up to 5X optical zoom and fashionable colors.
This expands the company's role in this marketplace.
Feb 19 · 2:26:00 PM · Source: Company Press Release
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by Larry Etter
U.S. Bancorp (USB)
U.S. Bank is launching Deposit Express, a remote deposit capture offering specifically designed to meet the unique banking needs of small businesses. Deposit Express allows small businesses to scan and deposit checks to their U.S.
Bank account from the convenience of their office, using a PC and a desktop
scanner.
This expands U.S. Bank's existing suite of remote deposit products.
Feb 19 · 2:20:00 PM · Source: Company Press Release
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by Larry Etter
Bank of America (BAC)
Bank of America today announced organizational changes to its Global Wealth and Investment Management (GWIM) division designed to support the growth of its investment and retirement businesses and to deepen leadership in areas identified as being among its greatest strategic opportunities. Kunal Kamlani will join the company as managing director and head of Global Investment Solutions (GIS). Chris Dupuy will become head of Institutional Investments and Philanthropic Solutions.
Feb 19 · 2:12:00 PM · Source: Company Press Release
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by Larry Etter
Campbell's Soup (CPB)
Campbell Soup Company today announced a comprehensive plan to boost the performance of its condensed soup portfolio in the United States, a business that generated more than $1 billion in net sales in fiscal 2009. Campbell plans to enhance more than 60 percent of its condensed line with product improvements, further sodium reduction, more contemporary packaging, improved shelving systems and new marketing aimed at the simple meals category. These upcoming plans for condensed soup build on Campbell's substantial investments in its entire U.S. Soup business over the last several years, designed to improve the quality, convenience, variety and wellness profile across its portfolio. As a result of these investments, Campbell has increased net sales of U.S. soup every year since 2003.
Campbell reiterated its full-year guidance for adjusted earnings before interest and taxes (EBIT) growth of 6 to 7 percent and adjusted net earnings per share growth of 9 to 11 percent from the fiscal 2009 adjusted base of $2.21. The company revised its fiscal 2010 guidance for sales growth to 2.5 to 3.5 percent from the prior range of 4 to 5 percent.
Feb 18 · 12:45:00 PM · Source: Company Press Release
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by Rich Pike
Walmart (WMT)
Wal-Mart today reported financial results for the quarter and year ended Jan. 31, 2010. Net sales for the fourth quarter of fiscal year 2010 were $112.8 billion, an increase of 4.6 percent from $107.9 billion in the fourth quarter last year. Net sales for the fourth quarter included a currency exchange rate benefit of $1.9 billion. Income from continuing operations attributable to Walmart for the quarter was $4.7 billion, an increase of almost 24 percent from $3.8 billion in the fourth quarter last year. For fiscal year 2010, adjusted earnings from continuing operations attributable to Walmart were $14.2 billion, or $3.66 per share, versus $13.5 billion or $3.42 per share in the prior year, an increase of 7.0 percent per share.
The company expects diluted earnings per share from continuing operations attributable to Walmart for fiscal year 2011 to be between $3.90 and $4.00. For the first quarter of this fiscal year, the company forecasts earnings per share from continuing operations attributable to Walmart to range from $0.81 to $0.85. Earnings guidance assumes that currency exchange rates will remain where they are today.
Feb 18 · 12:36:00 PM · Source: Company Press Release
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by Rich Pike
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