Market News

Washington Post (WPO)

The Washington Post Co. today raised its dividend by 40 cents per share and said billionaire investor Warren Buffett will retire from its board of directors when his current term ends in May.
Losing a close relationship with Buffett could be a cause for concern, although Buffett has expressed a desire to leave all boards but Berkshire Hathaway's.

Jan 20 · 4:49:00 PM
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by Larry Etter

Ford (F)

Ford (NYSE:F) has agreed to sell its Volvo Cars unit to Chinese automaker Zhejiang Geely Golding Group (Zhejiang Province, China) for $1.8 billion, significantly less than the $6.45 billion Ford paid for Volvo in 1999, according to MarketWatch. In 2008, Ford sold the Jaguar and Land Rover brands to Tata Motors Limited, an Indian automaker, for $1.7 billion, much less than Ford originally paid for the brands.
Ford, under the direction of Alan Mulally, has significantly impacted US auto manufacturing, production and thinking, the same way that he did when he was at Boeing. Ford, the only one of the Big Three that did not take a bail-out, is slated to lead the US auto industry out of the slump that it's in, currently.

Mar 30 · 12:10:00 PM · Source: Market Watch
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by Steve Wieczorek

Frederick's of Hollywood (FOH)

Frederick’s of Hollywood today announced financial results for its fiscal 2010 second quarter and six months ended January 23, 2010. Net sales decreased 21.3% to $41,321,000 from $52,516,000. Adjusted EBITDA was a loss of $2,617,000 compared to a profit of $1,278,000. Fiscal Six Months Ended January 23, 2010 Compared to Fiscal Six Months Ended January 24, 2009: Net sales decreased 17.4% to $78,529,000 from $95,081,000. Adjusted EBITDA was a loss of $4,950,000 compared to a loss of $1,662,000.
The recession is definitely taking its toll on lingerie, which definitely fits into the highly discretionary category.

Mar 9 · 11:28:00 AM · Source: Company Press Release
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by Rich Pike

Oxford Industries (OXM)

Oxford Industries' Tommy Bahama brand has announced the release of a new series of "Collector's Edition" Major League Baseball team shirts. These custom designed shirts are the next phase in the unique collaboration between Tommy Bahama and Major League Baseball Properties for co-branded collections of premium apparel.
Tommy Bahama celebrates the start of the 2010 baseball season with a series of "Collector's Edition" shirts individually created for eight Major League Baseball teams, including the Boston Red Sox, Chicago White Sox, Los Angeles Angels of Anaheim, Los Angeles Dodgers, New York Yankees, Philadelphia Phillies, Seattle Mariners, and St. Louis Cardinals.

Mar 9 · 11:22:00 AM · Source: Reuters.com
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by Rich Pike

Cablevision (CVC)

Cablevision said it would agree to government calls for binding arbitration with ABC Disney in order to immediately return ABC to Cablevision customers. ABC Disney pulled ABC off Cablevision as negotiations continued on a new agreement, removing the channel from more than 3 million New York area homes. The channel was reinstated Sunday night in time for the Oscars.
Cablevision has been able to reach agreement with every other major broadcaster in New York, and has proposed to ABC Disney terms for ABC that are as good or better than the terms in all these agreements.

Mar 8 · 1:11:00 PM · Source: Reuters.com
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by Rich Pike

Ford (F)

With the rapid convergence of in-car technology and the Internet, Ford said today it is offering a suite of security features to protect the personal information of millions of Ford owners from the threat of computer hackers and viruses. Ford's popular SYNC system allows owners to connect digital media players and Bluetooth-enabled mobile phones to their vehicle's entertainment system and operate them with voice commands. The mobile phone also is a gateway to a number of Internet "cloud" services through SYNC's Traffic, Directions and Information application that provides turn-by-turn directions, business searches and more.
Ford is adapting methods and technologies most often associated with the fast-paced IT world to secure its mobile device-to-car connections from unwanted entry. Think firewalls, virus protection and password-controlled access.

Mar 8 · 1:05:00 PM · Source: Reuters.com
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by Rich Pike

McDonald's (MCD)

McDonald's Corporation today announced global comparable sales growth of 4.8%in February. Performance by segment was as follows: U.S. up 0.6%; Europe up 5.4%; Asia/Pacific, Middle East and Africa up 10.5%.
In Asia/Pacific, Middle East and Africa (APMEA), comparable sales rose 10.5% for February, led by strong results in Japan, China and Australia. The celebration of Chinese New Year in many markets contributed to the month's performance. Throughout APMEA, consumers continued to respond favorably to the region's compelling value offerings, great tasting premium menu selections and relevant convenience.

Mar 8 · 12:59:00 PM · Source: Company Press Release
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by Rich Pike

Macy's (M)

Macy's reported total sales of $1.641 billion for the four weeks ended Feb. 27, 2010, an increase of 4.0 percent compared with total sales of $1.577 billion in the four weeks ended Feb. 28, 2009. On a same-store basis, Macy's, Inc. sales were up 3.7 percent in February.
As with all the retailers, we need to keep in mind how bad their sales were last year. Last year Macy's reported same store sales were down 8.5% in Feb. This is a trend we are going to see for months to come - retailers reporting increased same store sales coming off such huge declines in sales last year.

Mar 5 · 11:17:00 AM · Source: Company Press Release
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by Rich Pike

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