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MGM Mirage (MGM)
MGM Mirage said it has a third-quarter net loss of 750.4 million, or $1.70 a share, compared with a profit of $61.3 million, or 22 cents, a year earlier. The loss included a write-down of its CityCenter development, which is set to open in December.
Revenue fell 13% to $1.71 billion from $1.95 billion last year.
The revenue number did beat analysts' forecasts.
Nov 5 · 10:53:00 AM · Source: Company News
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by Larry Etter
Scripps Networks Interactive (SNI)
Scripps Networks Interactive Inc. has agreed to buy a controlling stake in the Travel Channel from Cox Communications Inc. Scripps Networks will pay $181 million to get 65 percent of the channel through a joint venture with Cox, which will keep the remaining stake, the companies said today in a statement. Cox will contribute the channel, valued at $975 million, and their venture will take on $878 million in debt.
Scripps bid trumps a bid by News Corp. for the cable- television network.
Nov 5 · 10:47:00 AM · Source: Company News
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by Larry Etter
Costco (COST)
Costco Wholesale Corporation Thursday reported net sales of $5.68 billion for the month of October, the four weeks ended November 1, 2009, an increase of seven percent from $5.30 billion in the same four-week period last year.
The company's sales topped expectation.
Nov 5 · 10:42:00 AM · Source: Company News Release
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by Larry Etter
Sirius XM Radio Inc. (SIRI)
Sirius XM Radio said its third-quarter showed a loss of $149.1 million, or 4 cents a share, compared with a year-earlier loss of $4.88 billion, or $1.93 a share. On a pro-forma basis revenue rose 2.7% to $629.6 million.
The satellite radio provider has improved its financial position since February, when it had said it was exploring possibility of filing for bankruptcy.
Nov 5 · 10:38:00 AM · Source: Company News Release
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by Larry Etter
Unilever Nv (UN)
Unilever, the consumer goods giant, said it had third quarter profits of euro1.05 billion ($1.56 billion), down from euro1.64 billion in the same period last year. Last year's period had a euro487 million gain on the sale of Unilever's seasonings businesses. Revenues were down 1.9 percent to euro10.2 billion.
Despite the fall in profit, the company's CEO said the results showed "good progress across all regions and the majority of countries and categories" when compared with the second quarter.
Nov 5 · 10:33:00 AM · Source: Company News Release
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by Larry Etter
Retail Sales
Retailers posted mixed October same-store sales, with teen-focused chains posting lower-than-expected sales, as the industry gears up for the critical holiday season. Teen retailers shares slumped on the news in premarket trading.
But a handful of retailers reported better-than-expected sales, including Stage Stores Inc., Stein Mart Inc. and Wet Seal Inc. Gap Inc.'s same-store sales rose 4%, and the casual-clothing retailer said it expects fiscal third-quarter earnings above Wall Street's expectations.
Nov 5 · 10:25:00 AM · Source: Wall Street Journal
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by Larry Etter
CVS Caremark (CVS)
CVS's third-quarter profit increased 39% to $1.02 billion, or 71 cents a share, from $736 million, or 50 cents a share, a year earlier. Excluding acquisition-related costs, earnings rose to 76 cents from 60 cents. Adjusted earnings from continuing operations were 65 cents per share, excluding an 11 cent income tax benefit. Revenue rose 18% to $24.64 billion, in part on the acquisition of Longs.
Profits were stronger than expected.
Nov 5 · 10:21:00 AM · Source: Company News Release
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by Larry Etter
Unemployment
The number of U.S. workers filing new claims for jobless benefits declined more than economists expected last week, the U.S. Labor Department said in its weekly report Thursday.
Total claims lasting more than one week, meanwhile, also decreased.
Nov 5 · 10:18:00 AM · Source: Wall Street Journal
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by Larry Etter
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