Market News
Dell (DELL)
Dell Computer has been replaced by Taiwan-based Acer Inc. as the Number 2 computer maker in the world. This announcement comes on the heels of Dell’s announcement that they will be closing a manufacturing plant in North Carolina, cutting nearly 1,000 jobs. Dell plans to outsource its North Carolina jobs to Mexico and other countries.
The events highlight that as Dell expands beyond its hardware business to software, services, and network management, the need for facilities such as the one closing in Winston-Salem, North Carolina, diminishes—along with the profits they generate. The devices U.S. facilities produce can be made faster and cheaper elsewhere, which is one factor in Acer’s overcoming Dell in the rankings.
Oct 27 · 12:46:00 PM · Source: Portfolio.com
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by Michael Oliveto
DineEquity Inc (DIN)
DineEquity said today that its third quarter net income available to common shareholders was $7.9 million, or 46 cents per share, compared with a year-earlier loss of $16.4 million, or 98 cents per share. Revenue at the Glendale, California-based company fell about 14.7 percent to $333.6 million.
Profits top estimates, but revenue doesn't.
Oct 27 · 12:38:00 PM · Source: Company News Release
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by Larry Etter
DineEquity Inc (DIN)
DineEquity said today that its third quarter net income available to common shareholders was $7.9 million, or 46 cents per share, compared with a year-earlier loss of $16.4 million, or 98 cents per share. Revenue at the Glendale, California-based company fell about 14.7 percent to $333.6 million.
Profits top estimates, but revenue doesn't.
Oct 27 · 12:37:00 PM · Source: Company News Release
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by Larry Etter
du Pont (DD)
DuPont declared regular quarterly dividends of $1.12-1/2 per share on the $4.50 series preferred stock and 87-1/2 cents per share on the $3.50 series preferred stock, both payable January 10, 2010. DuPont today revised the record date for both preferred dividends from January 8, 2010 to January 4, 2010 for administrative reasons.
On October 21, DuPont also declared a Q4 common stock dividend of 41 cents per share, payable December 14, to stockholders of record November 13. There has been no change in the record date for the common stock dividend.
Oct 27 · 12:36:00 PM · Source: Reuuters
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by Michael Oliveto
Chevron (CVX)
Chevron said on Monday it had a molten sulfur leak from a pipeline while a barge was being loaded with it at the marine terminal of its 330,000-barrel-per-day Pascagoula, Mississippi, refinery.
"We had a leak of elemental sulfur from a pipeline. We were loading a barge at the refinery when this occurred," said Steve Renfroe, a refinery spokesman, referring to the Sunday morning incident. We stopped loading and we are repairing the line and are in the process of retrieving the sulfur." he added.
Oct 27 · 12:31:00 PM · Source: Reuters
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by Michael Oliveto
Comcast (CMCSA)
Comcast is the first major carrier to protest broadband stimulus applications.
David Cohen, Comcast's executive vice president, claims that since the U.S. Broadband stimulus funding program was designated to bring broadband services to areas where service is not available, targeting areas where it already provides service could 'violate eligibility rules.'
Oct 27 · 12:24:00 PM · Source: Fierce Telecom
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by Michael Oliveto
Caterpillar (CAT)
Caterpillar said about 2,500 laid-off employees will be permanently cut from the company and 550 others will be brought back to work by the end of next year.
The workers are among more than 22,000 laid off earlier this year as Caterpillar dramatically scaled back production because of weaker demand amid the global economic downturn.
Oct 27 · 12:19:00 PM · Source: Herald Tribune
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by Michael Oliveto
TD Ameritrade Holding Corporation (AMTD)
TD Ameritrade said today that income fell to $156.7 million, or 26 cents per share, in the fiscal fourth quarter ended on Sept. 30 from $172.0 million, or 30 cents a share, a year earlier. Revenue pushed slightly higher to $657.9 million.
Analysts on average expected the company to earn 22 cents per share and slightly lower revenue.
Oct 27 · 12:14:00 PM · Source: Company News Releaase
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by Larry Etter
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