News Corp (NWSA)

News Corp Agrees to Sale of bTV to CME

News Corporation announced today it has reached an agreement to sell bTV, its Bulgarian terrestrial TV business, to Central European Media Enterprises (CME), the leading broadcaster in Central and Eastern Europe, for $400 million in cash.
The sale completes News Corporation's program of exiting its substantial Eastern European free-to-air broadcasting businesses. The transaction is subject to regulatory approval by the Bulgarian Commission for the Protection of Competition and other customary closing conditions.

Feb 18 · 12:22:00 PM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Rich Pike

Johnson & Johnson (JNJ)

J&J to Cut Bonus Targets for Some

The Wall Street Journal is reporting that Johnson & Johnson plans to cut the yearly performance-bonus maximums for 38% of its employees and freeze salaries for certain workers, according to an internal announcement and other company documents. J&J reported a 19% drop in fourth-quarter earnings, largely because of charges related to cost restructuring. The company had announced in November that it was eliminating 8,200 jobs, mostly overseas.
"The cost savings from this program are minimal. It is not why we implemented the program. This program is about creating a global compensation program that is consistent and equitable for our employees across the company," a J&J spokeswoman said.

Feb 18 · 12:10:00 PM · Source: Wall Street Journal
Track · email · face · Twitter · digg · COMMENTS
by Rich Pike

Producer Price Index

January Wholesale Prices Up Surprising 1.4%

Wholesale prices shot up at double the expected pace in January, propelled higher by big increases in energy costs. The Labor Department said Thursday that wholesale prices rose 1.4 percent last month, reflecting higher costs for gasoline and other energy products. Private economists had expected a 0.7 percent increase.
The surprisingly big increase was looked at as a temporary blip and not the start of inflation problems, analysts said.

Feb 18 · 10:09:00 AM · Source: AP
email · face · Twitter · digg · COMMENTS
by Larry Etter

HP (HPQ)

HP Fiscal Q1 Profit Up 25%

Hewlett Packard said late Wednesday its fiscal first-quarter profit was $2.3 billion, or 96 cents a share, on revenue of $31.2 billion. During the year-ago quarter, the computer and printing giant earned $1.9 billion, or 75 cents a share, on $28.8 billion in sales.
Earnings and sales topped analyst estimates.

Feb 18 · 9:52:00 AM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Genzyme (GENZ)

Genzyme Reports 4th Qtr and Full 2009 Results

Genzyme reported fourth-quarter GAAP net income was $23.2 million, or $0.09 per diluted share, compared with $86.7 million, or $0.31 per diluted share, in the same period in 2008. Non-GAAP net income was $83.5 million, compared with $118.2 million in the fourth quarter of 2008. Non-GAAP earnings were $0.31 per diluted share, compared with $0.42 per diluted share in the prior fourth quarter.
Non-GAAP earnings in 2010 are expected to increase to $2.80 – $3.20 per diluted share. GAAP earnings are expected to reach $1.90 – $2.27 per diluted share. Revenue is expected to reach $5.23 – $5.53 billion in 2010, compared with $4.52 billion in 2009.

Feb 18 · 9:45:00 AM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Rich Pike

AT&T (T)

AT&T/Motorola Unveil Phone with MOTOBLUR

AT&T* and Motorola, Inc. today announced that the Motorola BACKFLIP ™ with MOTOBLUR™ will be available in AT&T stores nationwide and online at www.wireless.att.com beginning March 7. MOTOBLUR offers AT&T customers a new way to connect to their favorite people, content and applications.
This BACKFLIP will bring together social networking with an Android platform phone.

Feb 18 · 9:36:00 AM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

AT&T (T)

AT&T* and Motorola, Inc. today announced that the Motorola BACKFLIP ™ with MOTOBLUR™ will be available in AT&T stores nationwide and online at www.wireless.att.com beginning March 7. MOTOBLUR offers AT&T customers a new way to connect to their favorite people, content and applications.
This BACKFLIP will bring together social networking with an Android platform phone.

Feb 18 · 9:35:00 AM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter

Walgreen (WAG)

Walgreen to Buy Duane Reade

Walgreen Co. said today it has definitively agreed to acquire Duane Reade Holdings Inc., operator of a chain of 257 New-York-area drugstores, from affiliates of Oak Hill Capital Partners. The deal price is nearly $1.08 billion, including assumption of debt.
Walgreen, which called the deal "a compelling strategic acquisition," will now have a leadership position in nation’s largest retail and drugstore market.

Feb 17 · 9:02:00 AM · Source: Company Press Release
Track · email · face · Twitter · digg · COMMENTS
by Larry Etter