Market News
American Electric Power (AEP)
The Office of the Ohio Consumers' Counsel (OCC) is back in court trying to stop American Electric Power from collecting hundreds of millions of dollars in unlawful rate increases.
The consumer advocate filed a new appeal of the company’s rate plan with the Supreme Court of Ohio (case # 09-2022). The action follows the court’s October 29 dismissal of the OCC’s first appeal because the Public Utilities Commission of Ohio (PUCO) had not ruled on two applications for reconsideration filed by the OCC and other parties.
Nov 11 · 3:49:00 PM · Source: PR Web
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by Michael Oliveto
Abbott Labs (ABT)
The U.S. Justice Department is investigating Abbott Laboratories' sales and marketing activities for its anti-seizure drug Depakote, the drug maker disclosed.
Abbott said in a regulatory filing that the U.S. Attorney for the Western District of Virginia is seeking to determine whether Abbott's marketing activities violated civil or criminal laws including the Federal False Claims Act, the Food and Drug Cosmetic Act, and the Anti-Kickback Statute "in connection with Medicare and/or Medicaid reimbursement to third parties."
Nov 11 · 3:23:00 PM
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by Michael Oliveto
Apple (AAPL)
Apple reached an agreement with StarHub Ltd. to start offering the iPhone in Singapore later this year.
StarHub Ltd., in a statement, said it will provide more information on the pricing, tariffs and the date of the device's availability in due course.
Nov 11 · 2:41:00 PM · Source: Reuters
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by Michael Oliveto
UGI Corporation (UGI)
UGI Corporation, a gas and utility company, Wednesday reported net income of $258.5 million, or $2.36 per diluted share, for its fiscal year ended September 30, 2009, compared to $215.5 million, or $1.99 per diluted share, for the fiscal year ended September 30, 2008. Full year revenues dropped to $5.7 billion from $6.65 billion last fiscal year.
Nov 11 · 11:00:00 AM · Source: Company News Release
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by Larry Etter
United Capital Corporation (AFP)
United Capital Corp. today reported third quarter net income was $1.6 million or $.18 per basic share, compared to a net loss of $7.0 million, in the corresponding quarter in 2008. Third quarter total revenues were $14.7 million, compared to $18.5 million in last year's third quarter.
Nov 11 · 10:48:00 AM · Source: Company News
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by Larry Etter
Rockwell Collins (COL)
The U.S. Navy has awarded a four-year production contract to Rockwell Collins for ARC-210 radios. The contract has a potential value of $450 million over the four-year life of the program.
Nov 11 · 10:41:00 AM · Source: Company News Release
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by Larry Etter
Macy's (M)
Macy's Wednesday said its third quarter net loss narrowed to $35 million, or 8 cents a share, from $44 million, or 10 cents a share, a year earlier. Excluding one-time items such as $205 million in restructuring costs, its loss was 3 cents a share. Third quarter sales droppped 3.9 percent to $5.28 billion vs. last year's comparable period.
The company forecast earnings for the critical fourth quarter far below Wall Street expectations.
Nov 11 · 10:35:00 AM · Source: Company News Release
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by Larry Etter
New England Bancshares Inc. (NEBS)
New England Bancshares, Inc. today announced the company’s Board of Directors declared a cash dividend for the quarter ended September 30, 2009 of $0.02 per share. The cash dividend will be payable on December 14, 2009 to stockholders of record on November 25, 2009.
Nov 10 · 12:07:00 PM · Source: Company News Release
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by Larry Etter
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