Market News
Covidien Ltd. (COV)
Covidien, a medical device company, said Tuesday that it posted net profit of $56 million, or 11 cents a share, for the fiscal fourth quarter ended Sept. 25, compared with $409 million, or 84 cents a share, a year earlier. Net results were reduced by a variety of charges related to various divestitures and acquisitions.
Nov 17 · 12:09:00 PM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
TJX (TJX)
TJX Companies said Tuesday its third quarter profit rose to $347.8 million, or 81 cents a share, from $235.9 million, or 54 cents a share, a year earlier. Revenue increased 10% to $5.24 billion.
Company CEO said TJX achieved record third-quarter results, driven by significant increases in comparable store sales and customer traffic that have continued to accelerate.
Nov 17 · 12:05:00 PM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Applied Materials (AMAT)
Applied Materials Inc. said it plans to acquire Semitool Inc. for $364 million in cash, The $11 a share offer is a 31% premium over Semitool's Monday closing price. The deal would come on the heels of Applied Materials' acquisition of privately held Advent Solar.
The Semitool deal would boost the chip toolmaker's efforts in growing parts of the chip manufacturing market.
Nov 17 · 11:50:00 AM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Lazard Ltd. (LAZ)
Lazard Ltd. Tuesday said it had named Kenneth Jacobs, head of the investment bank’s North American businesses, as chairman and CEO, succeeding Bruce Wasserstein, who passed away last month. Jacobs, 51, takes over from interim CEO Steven Golub, 63, who will continue as vice chairman of Lazard and chairman of the financial-advisory group.
Nov 17 · 11:44:00 AM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Home Depot (HD)
Home Depot said Tuesday that for the fiscal third quarter period ended Nov. 1 it reported earnings of $689 million, or 41 cents per share, down from $756 million, or 45 cents per share, a year earlier. Revenue fell 8% to $16.36 billion; same-store sales dropped 6.9%.
Profit down, sales down, same-store sales down. None of that can really be looked at as good news. However, on the bright side, the drop in profit was less than analysts expected.
Nov 17 · 11:36:00 AM · Source: Company News
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Target (TGT)
Target Corp. said Tuesday it posted third quarter profits of $436 million, or 58 cents a share, up 18 percent from $369 million, or 49 cents a share, a year earlier. Revenue increased 1.1% to $15.28 billion.
Results beat analyst expectations.
Nov 17 · 11:33:00 AM · Source: Company News
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Champion Enterprises Inc. (CHB)
Champion Enterprises, Inc., a leader in factory-built construction, Monday said it and its domestic operating subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The Company is taking this action to improve its capital structure and further strengthen its competitive position. The Company's operations in the United Kingdom and Canada were not included in and will not be impacted by the filing.
Nov 16 · 5:46:00 PM · Source: Company News
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Cisco (CSCO)
Cisco Monday announced a revised recommended voluntary cash offer to acquire TANDBERG. Under the revised terms, Cisco will offer to purchase all the outstanding shares of TANDBERG for 170 Norwegian Kroner per share for an aggregate purchase price of approximately $3.4 billion. Cisco will also increase the interest payable on the offer price to a rate of 3.00% from a rate of 1.75%. This revised offer represents Cisco's final price for this transaction, the company said.
Bloomberg quoted an analyst as saying "the fact they now have a pre-acceptance level of 40 percent increases the likelihood the bid will go through.
Nov 16 · 5:39:00 PM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Previous · Next
Advertisement