Market News
Housing
Most states continued to experience rising existing-home sales in the third quarter, with prices moderating in many metro areas, according to the latest survey by the National Association of Realtors®. Total state existing-home sales, including single-family and condo, increased 11.4 percent to a seasonally adjusted annual rate1 of 5.30 million units in the third quarter from 4.76 million units in the second quarter, and are now 5.9 percent above the 5.01 million-unit pace in the third quarter of 2008.
Sales increased from the second quarter in 45 states and the District of Columbia; 28 states and D.C. saw double-digit gains. Year-over-year sales were higher in 32 states and D.C.
Nov 10 · 12:00:00 PM · Source: National Assn. of Realtors
email · face · Twitter · digg · COMMENTS
by Larry Etter
American Apparel Inc (APP)
Clothing retailer American Apparel Inc. said Tuesday its third quarter profit rose 78 percent to $4.2 million, or 5 cents per share, compared with $2.3 million, or 3 cents per share, in the same quarter a year ago. Revenue declined 3 percent to $150.3 million from $154.8 million.
The company said its profits grew due to a shift toward sales of higher-margin retail merchandise.
Nov 10 · 11:56:00 AM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Clearwire Corporation (CLWR)
Clearwire Corporation, said today it has reached an agreement to raise $1.564 billion in new investment capital from Sprint Nextel Corporation, Comcast Corporation, Time Warner Cable Inc., Intel Corporation, Eagle River Holdings, LLC and Bright House Networks, LLC in exchange for newly issued shares priced at $7.33 per share.
Clearwire, which is building out a nationwide high-speed network, will use the cash to ease a cash shortfall that would have held up expansion plans.
Nov 10 · 11:51:00 AM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Tyco International, Ltd. (TYC)
Tyco International Tuesday said its fiscal fourth quarter earnings were $205 million, or 43 cents a share, down from $434 million, or 91 cents, a year earlier. Excluding items such as restructuring charges, earnings from continuing operations fell to 61 cents from 81 cents. Revenue fell 16% to $4.4 billion and 12% on an organic basis, which usually excludes acquisitions, divestitures and currency exchange.
Results top Wall Street expectations.
Nov 10 · 10:41:00 AM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Beazer Homes USA Inc. (BZH)
Beazer Homes USA Tuesday reported a fiscal fourth quarter profit of $34 million, or 84 cents per share, compared with a year-earlier loss of $474 million, or $12.29 per share. Revenue was $376.3 million, down from $650 million a year earlier.
The company's CEO said demand for the company's new homes was spurred by low prices and mortgage interest rates and a federal tax credit for first-time home buyers,
Nov 10 · 10:33:00 AM · Source: Company News
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Hewitt Associates Inc (HEW)
Hewitt Associations that its fiscal fourth quarter profits rose to $64.4 million, or 68 cents a share, from $31.6 million, or 32 cents a share, a year earlier. The prior year included 17 cents in divestiture and real-estate related charges. Revenue before reimbursements dropped 6.1% to $757.7 million.
Nov 10 · 10:26:00 AM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Sprint Nextel (S)
Sprint Nextel Corp. Monday announced the company will take actions in the fourth quarter of 2009 to reduce internal and external labor costs by at least $350 million on an annualized basis. The actions include the elimination of 2,000 to 2,500 positions within the company. The impact on geographic locations will vary, and many impacted positions will be eliminated by December 31, 2009.
Announcement boosted stock price
Nov 9 · 7:33:00 PM · Source: Company News
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Pfizer (PFE)
Pfizer said Monday it will cease research-and-development activities in Research Triangle Park and Sanford as part of a major restructuring. The announcement comes less than three weeks after the pharmaceutical giant officially brought Wyeth into the fold. The restructuring will trim the number of R&D sites at Pfizer to five main locations and nine specialized units, down from 20 sites at the close of the Wyeth deal Oct. 16.
Nov 9 · 7:24:00 PM · Source: Triangle Business Journal
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Previous · Next
Advertisement