American Express Co , the largest credit card company by sales, reported quarterly earnings that fell in line with expectations on Thursday, hurt by weakness in cardmember spending, record credit losses, restructuring charges and the repayment of government funds.
Microsoft Corp's quarterly revenue fell a steeper-than-expected 17 percent and annual sales of Windows fell for the first time ever, as its business continued to be hurt by the weak global PC and server markets.
U.S. stocks surged on Thursday, driving the Dow industrials above the key 9,000 mark for the first time since January, as strong corporate profits and rebounding home sales spurred optimism about the economy.
The New York Times reported higher quarterly profit on cost cuts on Thursday, beating forecasts, but advertising revenue fell 30 percent and a recovery for U.S. newspaper publishers still looks a long way off.
Home sales jump, Dow Breaks 9,000, Ford Turns Profit
Securities regulators on Thursday sued a well-connected Kuwaiti financier whose investment firm is partly owned by Citigroup Inc , saying he reaped millions in suspicious profits after false takeover reports sent shares of two U.S. companies soaring.
U.S. solar company SunPower Corp on Thursday reported a 22 percent drop in quarterly net income, but results blew past estimates as the company maintained market share and the price premium on its solar panels, sending shares up 15 percent after hours.
Solar maker First Solar Inc. and EDF Energies Nouvelles announced they will build the largest solar panel manufacturing plant in France.U.S. stockpiles of natural gas rose 66 billion cubic feet to 2.952 trillion cubic feet on the week ended July 17.
The National Association of Realtors (NAR) on Thursday announced that sales of existing homes in the U.S. rose for the third consecutive month in June, suggesting that the troubled housing market may be hitting bottom, private data showed Thursday. The value of existing single-family home and condominium sales continue to fall according to the Florida Association of realtors (FAR). According to FAR the median price, however, skidded 59 percent, from $132,900 in June 2008 to $54,500 in June 2009....
Stocks surged on Thursday, sending the Dow industrials above the key 9,000 mark for the first time since January, as strong corporate profits and rebounding home sales spurred optimism about the economy.
President Barack Obama said police “acted stupidly†when the arrested black Harvard scholar outside his own home.
U.S. existing home sales notched their third monthly rise in June and prices hit the highest level since October, fueling hopes that the housing sector is finally on the mend and will help propel a broader economic recovery.
President Barack Obama conceded on Thursday that Congress will not meet his August deadline for passing healthcare reform bills, but said he wanted lawmakers to keep on working on the issue.
The U.S. government has bought 195 million doses of H1N1 swine flu vaccine for a possible autumn vaccination campaign, a U.S. federal official said Thursday.
Advisers to large bondholders of CIT Group Inc are pushing to allow the company to restructure its debt with a prepackaged bankruptcy option if later debt exchanges fail to attract enough creditors, a source close to the negotiations said on Thursday.
McDonald's Corp reported lower-than-expected June same-store sales on Thursday and its shares fell 4.9 percent after the top-performing restaurant chain only matched Wall Street's profit view.
President Barack Obama plunged his presidency into a charged racial debate and set off a firestorm in one of America's most liberal bastions by siding with a black Harvard scholar who accuses police of racism.
Stocks advanced on Thursday, sending the Dow industrials above the key 9,000 mark for the first time since January, as strong corporate profits and rebounding home sales spurred optimism about the economic recovery.
The Australian Dollar opens largely unchanged at 0.8160 after the domestic market's insipid reaction to yesterday's local inflation data which picked up in the June quarter by 0.5 per cent for a lower annualised reading of 1.5 per cent. With the CPI rate beneath the Reserve Bank's target range of 2-3 per cent, the door remains open for another interest rate cut should the need arise.
Yahoo Inc's third-quarter forecasts fell short of Wall Street expectations, sending shares 3.2 percent lower, as the Internet company announced plans to step up spending despite persistent weakness in the advertising market.
New York Times Co reported higher quarterly profit on cost cuts on Thursday, beating forecasts, but advertising revenue fell 30 percent and a recovery for U.S. newspaper publishers still looks a long way off.
Equity investors are too negative about the hedge fund industry, says Neptune's Jeremy Smith, who has recently bought shares in Man Group and expects more consolidation among traditional fund firms.
