Market News
Bank of America (BAC)
Bank of America Wednesday announced It will repay U.S. taxpayers their entire $45 billion investment provided under the Troubled Asset Relief Program (TARP). The repayment will be made after the completion of a securities offering. To date, Bank of America has paid $2.54 billion in dividends to the U.S. Treasury on the TARP investment. Repaying TARP will save the company approximately $3.6 billion in annual dividend costs from the TARP investment.
The move underscores the banking industry’s swift recovery from the financial crisis.
Dec 3 · 11:54:00 AM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Unemployment
The number of Americans filing first- time claims for unemployment benefits fell last week to the lowest level in more than a year. The U.S. Labor Dept. said Thursday that initial jobless claims declined by 5,000 to 457,000 in the week ended Nov. 28, the fewest since September 2008.
Dec 3 · 11:47:00 AM · Source: U.S. Labor Dept.
email · face · Twitter · digg · COMMENTS
by Larry Etter
Charming Shoppes Inc. (CHRS)
Charming Shoppes, which specialises in plus-sized women's apparel, said Wednesday it lost $48.4 million, or 42 cents a share, from continuing operations in the third quarter, compared with a loss of $59.9 million, or 52 cents a share, in the year-ago quarter. Revenue fell 17 percent to $460.2 million. Comparable store sales fell 13 percent, compared with a 14 percent fall in the second quarter.
Dec 2 · 1:57:00 PM · Source: Company News
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Cisco (CSCO)
Cisco Systems Inc. said Wednesday it now has about 84 percent of Tandberg ASA’s shares.
Cisco's holdings now bring it closer to completing a 19 billion-kroner ($3.39 billion) purchase of the Norwegian maker of video-conferencing systems.
Dec 2 · 1:52:00 PM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Walgreen (WAG)
Walgreens said it posted November sales of $5,360,800,000, an increase of 8.7 percent from $4,933,433,000 for the same month in 2008. Sales in comparable stores (those open at least a year) increased 3.9 percent. November pharmacy sales increased 9.7 percent, while comparable pharmacy sales increased 5.7 percent. Comparable pharmacy sales were negatively impacted by 2.4 percentage points due to generic drug introductions in the last 12 months.
Sales, however, we up less than expected.
Dec 2 · 1:49:00 PM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Unemployment
Planned firings fell 72 percent in November to 50,349 from 181,671 during the same month last year, a Chicago-based placement firm said. Challenger, Gray & Christmas Inc. said planning firings were also down 9.6 percent from October.
The firm's CEO said that "barring any unexpected shocks to the economy, we appear to be coming out of the woods when it comes to downsizing.
Dec 2 · 1:30:00 PM
email · face · Twitter · digg · COMMENTS
by Larry Etter
Unemployment
Private sector non-farm employment decreased by 169,000 in November,according to the ADP National Employment Report.
The report, though, shows that the pace of job losses is slowing.
Dec 2 · 1:26:00 PM · Source: ADP
email · face · Twitter · digg · COMMENTS
by Larry Etter
AIG (AIG)
American International Group, the insurance giant bailed out by the federal government, Tuesday said it had completed a deal to reduce its debt to the Federal Reserve by $25 billion. To do this, AIG gave the Federal Reserve Bank of New York preferred stakes in two of the company's crown jewels -- Asian-based American International Assurance, or AIA, and American Life Insurance Co., or Alico, which operates in more than 50 countries. The deal had been announced earlier this year.
Dec 1 · 2:16:00 PM · Source: Company News Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter
Previous · Next
Advertisement