CBS (CBS)

CBS Corporation announced today a new employment agreement with President and Chief Executive Officer Leslie Moonves. The agreement supersedes the prior contract, which was to conclude in 2011, and extends his employment with the CBS Corporation through February 22, 2015.

Feb 25 · 2:07:00 PM
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by Larry Etter

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

Nike (NKE)

NIKE announced that its Board of Directors has declared a quarterly cash dividend of $0.27 per share on the company’s outstanding Class A and Class B Common Stock payable on April 1, 2010, to shareholders of record at the close of business on March 8, 2010.
NIKE, Inc. based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities.

Feb 12 · 7:32:00 AM · Source: Company Press Release
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by Rich Pike

Home Depot (HD)

According to Trading markets, Home Depot is taking a hard look at those acres of blacktop surrounding their stores to see if they could support an acre-sized business in the parking lot. Fast-food restaurants, banks or auto-parts stores are the most likely businesses that will pop up on those oceans of asphalt that are no longer practical, said Mike LaFerle, vice president of real estate and construction for the company.
File this under "signs of the times". The 14 stores in the Sacramento region are among the potential locations for the "carve-out" projects, but specific sites have not been identified. We'll keep you posted.

Feb 11 · 2:06:00 PM · Source: Trading Markets
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by Rich Pike

AutoNation (AN)

AutoNation reported 2009 fourth quarter GAAP net income from continuing operations of $62 million or $0.36 per share, compared to $73 million or $0.42 per share for the prior year. Fourth quarter 2009 revenue totaled $2.8 billion, compared to $2.6 billion in the year-ago period, an 8% increase.

For the full year ended December 31, 2009, the Company reported GAAP net income from continuing operations of $234 million or $1.32 per share, compared to a GAAP net loss from continuing operations of $1.2 billion or $6.82 per share for the prior year. The Company's revenue for the full year ended December 31, 2009 totaled $10.8 billion, down 20% compared to $13.4 billion in the prior year.
The results look okay until you take a close look at the fact that revenue was down 20% in 2009 from 2008. AutoNation's CEO stated that planning assumption for 2010 industry new unit sales is 11.5 million units with a gradual increase in the selling rate over the course of the year.

Feb 11 · 2:00:00 PM · Source: Company Press Release
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by Rich Pike

Expedia (EXPE)

Expedia's press release is confusing and hard to follow, which does not instill confidence. Here's their section on their cash flow, which might just be the most important thing to look at "Net cash provided by operating activities in 2009 was $676 million and free cash flow was $584 million. Both measures include $207 million from net changes in operating assets and liabilities, primarily driven by an improvement in our merchant hotel bookings in the fourth quarter of 2009 compared to 2008. Free cash flow increased $223 million in 2009 primarily due to growth in our merchant hotel business, lower capital expenditures and higher OIBA, partially offset by occupancy tax assessments and an increase in cash paid for interest and income taxes."
Also, Expedia’s Board of Directors declared a quarterly cash dividend of $0.07 per share of outstanding common stock to be paid to stockholders of record as of the close of business on March 11, 2010, with a payment date of March 31, 2010.

Feb 11 · 1:50:00 PM · Source: Company Press Release
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by Rich Pike

Amazon (AMZN)

Amazon.com recently announced financial results for its fourth quarter ended December 31, 2009. Operating cash flow was $3.29 billion in 2009, compared with $1.70 billion in 2008. Free cash flow increased 114% to $2.92 billion in 2009, compared with $1.36 billion in 2008.
This is a startling quote: "Millions of people now own Kindles," said Jeff Bezos, founder and CEO of Amazon.com. "And Kindle owners read, a lot. When we have both editions, we sell 6 Kindle books for every 10 physical books. This is year-to-date and includes only paid books -- free Kindle books would make the number even higher. It's been an exciting 27 months."

Feb 10 · 1:08:00 PM · Source: Company Press Release
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by Rich Pike