Reynolds American Inc. (NYSE: RAI), the second-largest U.S. tobacco company, said Wednesday it would eliminate 10 percent of its workforce, or around 540 workers, by the end of 2014 in order to save money and refocus its business.
Mexico's auto industry produced 24 percent more cars and light trucks in February compared with the year-ago period, reaching a record high.
Wal-Mart Stores Inc.(NYSE: WMT), the world's largest retailer, will allow customers to convert DVDs and Blu-ray discs to digital files starting April 16, the company said Wednesday.
The companies whose shares are moving in pre-market trade on Wednesday are: Francesca's Holdings Corp, Zions Bancorporation, Regions Financial Co, RADVision Ltd, Clearwire Corp, LSI Corp, SunTrust Banks, Citigroup, American Capital Mortgage Investment Corp and Fifth Third Bancorp.
U.S. import prices rose in February as petroleum surged, a government report showed Wednesday, but underlying imported inflation pressures remain muted.
In a resignation letter published in the New York Times, Greg Smith said he was disgusted at how the Wall Street firm valued making money from clients over trying to help them. But Goldman and its chief executive said the ex-executive's criticisms weren't reflective of the firm.
The top after-market NASDAQ losers Tuesday were: Pacific Sunwear of California, Zhongpin, Knightsbridge Tankers, American Superconductor, Healthways, Fortinet, Entropic Communications, Medallion Financial Corp, Great Wolf Resorts and Silicon Motion Technology Corp.
The top after-market NASDAQ gainers Tuesday were: SciClone Pharmaceuticals, Francesca's Holdings, FalconStor Software, rue21, International Bancshares Corp, Crimson Exploration, Endocyte, Benihana, Books-A-Million and Healthcare Services Group.
The top aftermarket NYSE gainers Tuesday were: Guidewire Software, Harvest Natural Resources, Regions Financial Corp, Cliffs Natural Resources, Guess?, Inc, and Navistar International Corp. The top aftermarket NYSE losers were: Medifast, RPC, Solutia Inc, Noranda Aluminum Holding, CIT Group and MetLife.
The Dow Jones Industrial average rose 218 points, or 1.8%, to close at 13,177, which was the highest since Dec .31, 2007.
Credit agency lifts Greece out of default territory with B-rating on optimism that debt swap and reforms will ease economy problems.
Economist Nouriel Roubini of Roubini Global Economics thinks a euro zone breakup could occur as soon as 2013.
JPMorgan Chase and Co. (NYSE:JPM) announced Tuesday afternoon it would be raising the dividend payout to shareholders and engaging in a sizable stock buyback program, in a show of balance sheet strength coming just days after the bank was green-lighted through the Federal Reserve's now-yearly "stress tests." The markets rallied.
JPMorgan Chase and Co. (NYSE:JPM) announced Tuesday afternoon it would be raising the dividend payout to shareholders and engaging in a sizable stock buyback program, in a show of balance sheet strength coming just days after the bank was green-lighted through the Federal Reserve's now-yearly "stress tests." The markets rallied.
Stocks shot up Tuesday, propelled by a strong U.S. retail sales report, a German investor confidence survey and a statement by the Federal Open Market Committee noting improvement in household and business spending as well as job creation.
Pimco, the world's top bond fund manager, is predicting largely favorable global economic conditions for 2012, but warns of three looming threats.
The European Commission doesn't believe the Greek austerity measures currently adopted are enough. For 2013 and 2014, it is demanding additional cuts equivalent to 5.5 percent of the GDP, according to a report obtained by Reuters.
Business inventories beat expectations in January, increasing 0.7 percent to a record level as auto dealers replenished their stocks to keep pace with rising demand from consumers.
US Airways, the fifth-biggest U.S. airline by traffic, has registered a slew of internet domain names that suggest a merger effort with bankrupt American Airlines is imminent.
Europe is undermining drug innovation by cutting prices, raising barriers to new medicines and freeloading off others in Asia and the United States who are more willing to pay, the boss of Pfizer, the world's largest drugmaker, said.
The U.S., the European Union and Japan will file a complaint with the World Trade Organization, which arbitrates international trade disputes, on Tuesday over Chinese export caps on rare earth minerals used in high-tech manufacturing, the Wall Street Journal reported.
Sales at U.S. retailers jumped in February by the most in five months, showing broad-based gains from autos to building materials, underscoring yet another hopeful sign of a strengthening economy.
The companies whose shares are moving in pre-market trade on Tuesday are: Paychex, WYNN Resorts, Beam Inc, Express Scripts, Sprint Nextel Corp, Carnival Corp, Weyerhaeuser Co, Safe Bulkers, Urban Outfitters and Urban Outfitters.
Retail sales recorded their largest gain in five months in February as Americans snapped up motor vehicles and bought a range of goods even as they paid more for gasoline, government data showed on Tuesday.
A closely followed measure of German economic confidence rose in March, its fourth consecutive monthly gain, the ZEW Center for European Economic Research in Mannheim said Tuesday.
The top after-market NASDAQ gainers Monday were: Carmike Cinemas, IntegraMed America, Powerwave Technologies, Tranzyme, AeroVironment and United Online. The top after-market NASDAQ losers were: Tangoe, Urban Outfitters, Gencor Industries, FX Energy, Salix Pharmaceuticals and Akorn, Inc.
The top aftermarket NYSE gainers Monday were: Resolute Energy, Armstrong World Industries, Nautilus Group, GNC Holdings, Cameco Corp and Beam Inc. The top aftermarket NYSE losers were: InvenSense, Safe Bulkers, China Mass Media Corp, Yelp Inc, MarkWest Energy Partners and Sunoco Logistics Partners LP.
Germany's Bayer AG is planning to challenge the decision by the government of India to allow an Indian drug manufacturer to produce and market its patented cancer medicine Nexavar.
Exports to the U.S. were a bright spot, but the general picture from China’s latest trade data is that global demand is still subdued, according to Capital Economics.
Eurozone finance ministers approve second bailout for Greece but demand Spain acts urgently to deal with tight deficit target.
