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Barnes & Noble To Spin Off Education Division (NYSE:BKS)

Barnes & Noble has announced that it would be spinning off its education division into a separate public company in the near future. The bookstore chain’s education unit is one of the largest contract operators of college bookstores with 714 campus locations across the United States. Shares rose 6.5 percent in trading after the announcement, […]

DreamWorks Animation To Sell Glendale Campus (NASDAQ:DWA)

DreamWorks Animation has announced plans to sell its campus in Glendale, California for roughly $185 million. After selling the campus, the company will lease back the space it needs for its operations. During a conference call Tuesday, CEO Jeffrey Katzenberg said, “There’s a great morale around the company right now even in the face of […]

Target Lowers Free Shipping Threshold To Undercut Rivals (NYSE:TGT)

Target Corporation has announced the lowering of its purchase threshold for free shipping from $50 to $25. This move undercuts the free shipping threshold of many of its rivals. Wal-Mart Stores Inc. and Inc. have free shipping thresholds of $50 and $35 respectively. Gap also has a free shipping threshold of $50, while Kohl’s […]

Proctor & Gamble Selling Off Numerous Brands (NYSE:PG)

Procter & Gamble has announced plans to sell off around 100 underperforming brands over the next few months. The brands selected by the company for divestiture will be sold, discontinued, or consolidated into other businesses. The announced plans have expanded from the company’s previous announcements on the matter, which stated that the company was looking […]

American Express Guilty Of Antitrust Violations (NYSE:AXP)

American Express has been found guilty of antitrust violations by a federal judge in New York. In a 150-page ruling, U.S. District Judge Nicholas Garaufis found that the company violated antitrust laws when merchants were told by the company that they couldn’t accept American Express cards while also offering customers credit cards by competitors Visa […]

Tesla Records Nearly $108 Million Loss In Fourth Quarter (NASDAQ:TSLA)

Tesla reported that it lost $107.6 million in the fourth quarter of its fiscal year, bringing the yearly total to a $294 million loss for the company. This is considerably more than the loss of $74 million reported by the company for all of 2013. Tesla reported that revenue for the fourth quarter was $1.1 […]

Rite Aid Purchases EnvisionRx For $2 Billion

Drugstore chain Rite Aid has announced the acquisition of pharmacy benefit manager EnvisionRx for $2 billion in cash and stock. EnvisionRx runs prescription drug plans for employers and insurers, processes mail-order prescriptions and takes care of billing for prescriptions filled at retail pharmacies. The Twinsburg, Ohio-based company provides benefits for about 21 million people and […]

Over 6,000 Jobs At Risk At Halliburton (NYSE:HAL)

The crash in oil prices has put more than 6,000 jobs in jeopardy at oil giant Halliburton Company. The cuts will occur in Halliburton’s locations around the world. A message from the company to employees warned them that no division was safe from staff reductions. Up to 1,000 of those layoffs are expected to occur […]

Apple Plans $848 Million Investment In Solar (NASDAQ:AAPL)

Apple has announced a partnership with First Solar to build a solar plant in Monterey County, California. Tempe, Arizona-based First Solar builds solar power plants and manufactures solar panels. The solar plant will be located within the California Flats project on the 73,000-acre Jack Ranch in Monterey County. Apple’s investment in the project is expected […]

Twitter Reports Revenue Increase In Fourth Quarter

Twitter reported fourth-quarter earnings that showed revenue increasing for the company in the fourth quarter. Twitter reported revenue of $479 million for the fourth quarter of its fiscal year, an increase of 97 percent over the $243 million in revenue reported a year ago. The revenue results easily surpassed the expectations of Wall Street analysts, […]

Anthem Data Not Encrypted When Stolen (ANTM)

In the latest reported data breach, the personal and financial information of millions of people were compromised when hackers attacked health insurer Anthem Inc. The Social Security numbers of roughly 80 million customers were exposed in the attack, along with their names, addresses, employment information, and income information. Indianapolis-based Anthem discovered the attack last week […]

Chipotle Mexican Grill Misses Earnings Estimates (CMG)

Chipotle Mexican Grill reported earnings for the fourth quarter that failed to meet the expectations of Wall Street analysts. Net income rose to $121.2 million, or $3.84 per share, in the quarter, considerably higher than the $79.6 million, or $2.53 per diluted share, reported in the same quarter a year ago. Revenue rose 27 percent […]

Disney Beats Estimates For First Quarter (DIS)

The Walt Disney Co. has beat analysts’ estimates for the fourth quarter of its fiscal year, beating predictions for both profit and revenue. Overall, profit increased 19 percent in the last three months of 2014. The company earned $2.24 billion, or $1.27 per share, for the quarter, higher than the $1.08 per share average estimate […]

Apple To Sell $5 Billion In Bonds (APPL)

Apple has decided to sell $5 billion in bonds in an offering of SEC-registered senior notes. The bond sale will include five-year notes in fixed- and/or floating-rate formats, along with new seven-, 10-, and 30-year issues, according to sources familiar with the matter. The deal may price as early as today, according to a person […]

Verizon Lets Customers Opt Out Of Supercookies (VZ)

Verizon Wireless is letting users who do not want to be tracked for ad-targeting purposes to opt out of its mobile ad-targeting program completely. Verizon uses an identifier for ad-targeting purposes that is embedded in the user’s phone that cannot be erased by the user, often referred to as a “supercookie.” That the users would […]

Hershey Announces Plan To Buy Jerky Company (HSY)

The Hershey Company has announced the planned acquisition of trendy jerky company Krave. The planned purchase was first reported by Reuters. The exact terms of the deal have not yet been disclosed. Krave has focused on turning jerky into the next upscale snack food. Krave also sells healthy snacks comprised of nuts, whole grains and […]

Yahoo Announces Spin Off Of Alibaba Stake (YHOO)

Yahoo has announced its intentions to spin off its remaining stake in Alibaba into a separate entity. The new investment company will be called SpinCo and stock in the company will be distributed to Yahoo shareholders at the end of the year. It is not yet known what types of companies SpinCo will invest in. […]

Post Purchasing MOM Brands For $1.15 Billion (POST)

Post Holdings has announced a deal to acquire rival cereal company MOM Brands for about $1.15 billion in a cash and stock deal. The disclosed terms of the deal show that Post will pay $1.05 billion in cash and issue 2.5 million shares to the owners of MOM Brands for the company. The deal is […]

Starbucks Reports Strong Results For First Quarter (SBUX)

Starbucks Corp. reported strong results for the first quarter of its fiscal year. The company reported that its earnings for the first quarter rose 82 percent when compared to the same quarter a year ago. In the quarter that ended December 28, the company reported earnings of $983.1 million, or $1.30 per share. This was […]

Anheuser-Busch Buys Another Craft Brewer

Anheuser-Busch InBev SA has announced the acquisition of Washington-based craft brewer Elysian Brewing Co. for an undisclosed sum. With the purchase, Anheuser-Busch is acquiring a brewery and four brewpubs located in Seattle. The deal is expected to close at the end of the first quarter. Anheuser-Busch is currently the world’s largest brewer and accounts for […]

UnitedHealth Beats Earnings Expectations In Fourth Quarter (NYSE:UNH)

UnitedHealth Group Inc. reported its earnings results on Wednesday, surprising investors and analysts with a higher than expected profit for the fourth quarter of its fiscal year. The company reported earnings of $1.5 billion, or $1.55 per share, in the quarter ended Dec. 31, up from $1.4 billion, or $1.41 per share, a year earlier. […]

Johnson & Johnson Reports Fourth Quarter Results (NYSE:JNJ)

Johnson & Johnson reported a 28 percent drop in its fourth-quarter profit, leading the company’s share price to fall in premarket trading. The company reported net income of $2.52 billion, or 89 cents per share, for the quarter. This was lower than the $3.52 billion, or $1.23 per share, reported in the same quarter a […]

Facebook Embarks On Massive Hiring Spree (FB)

Facebook Inc. will be increasing the number of employees under its umbrella by nearly 14 percent, saying that it is planning to hire around 1,200 new workers in the coming year. The company is expanding to meet the needs of its 1.35-billion-member customer base. Facebook has posted many of the new employment positions as job […]

Goldman Sachs Sees Trading Profits Slump in Q4 (GS)

Goldman Sachs Group Inc. reported quarterly earnings that showed trading profits slumping in the fourth quarter of its 2014 fiscal year. Overall revenue for the bank was down 12 percent in the final quarter of 2014 when compared to the same quarter a year earlier. Profit dropped to $2.17 billion, or $4.38 a share, in […]

PNC Financial Services Beats Estimates For Q4 (PNC)

PNC Financial Services Group Inc. reported results for the fourth quarter that exceeded the estimates of polled Wall Street analysts. The company recorded earnings of $1.84 per share for the quarter. Analysts polled by Zacks Investment Research predicted earnings of around $1.74 per share. The company reported revenue of $3.95 billion, higher than analysts’ estimates […]

Ocwen Facing Potential License Suspension In California (OCN)

Shares of Ocwen Financial Corp. have dropped considerably on reports of a potential license suspension for the company in the state of California. California’s Department of Business Oversight has notified Ocwen that it intends to suspend its mortgage license for a year. The license suspension could force Ocwen to sell its mortgage-servicing rights in the […]

Alibaba To Increase Product Safety In US Market (BABA)

Alibaba announced that it is teaming up with the Consumer Product Safety Commission in the United States to prevent products that have been deemed unsafe for American consumers from being exported to America. The Chinese e-commerce company will no longer ship items from its online platforms that have been recalled in the U.S. to American […]

Lululemon Increases Outlook For Q4 (LULU)

Lululemon has announced that it would be increasing its outlook for the fourth quarter of its fiscal year after reporting better than expected sales for the holiday season. The hip yoga apparel-maker reaped the benefit of higher holiday spending by consumers reassured about their finances and holding more money due to the drop in gasoline […]

Royal Dutch Shell To Lay Off Hundreds (NYSE:RDS.A)

Royal Dutch Shell PLC has announced that it will be laying off hundreds of its workers to reduce costs after the global collapse of oil prices. Crude prices have sunk to below $50 (U.S.) a barrel after reaching highs of $110 a barrel last year. Several oil companies have reduced capital spending budgets and cut […]

Samsung Announces Annual Profit Decline (SSNLF)

Samsung has announced its first annual decline in profit since 2011, worrying investors about the trajectory of the company. The company recently released its guidance for its fourth-quarter earnings for fiscal year 2014, which includes operating profit that beat analyst expectations but was still lower than the prior year. Operating profit for the quarter is […]

Standard Chartered Plans Aggressive Moves To Stop Profit Free Fall (STAN)

Standard Chartered has come to the realization that some aggressive actions will be needed to stop the free fall in profits experienced over the past few quarters. Its stock was downgraded by Standard & Poor’s in November after the issuance of three profit warnings last year. The company has seen its share price lose nearly […]

JPMorgan Reaches Settlement In Forex Lawsuit (NYSE:JPM)

JPMorgan Chase & Co has reportedly reached a settlement in a lawsuit against the company alleging that the company was part of a conspiracy to rig the prices for major currencies for its benefit. The settlement was disclosed by lawyers for JPMorgan in a letter filed with the court, but the terms of the settlement […]

Whole Foods Nomination Fight Becomes More Complicated (NASDAQ:WFM)

Whole Foods Market has become the site of a skirmish between the executives of the company and shareholders interested in participating in the nomination of corporate directors for the company. While the shareholders technically own the companies they are investing their money in, rules implemented in those companies often prevent those shareholders from making major […]

General Motors Issues More Vehicle Recalls (NYSE:GM)

General Motors has announced three new vehicle recalls to begin the new year. In the first recall, more than 83,000 GM vehicles in the United States are being recalled due to an ignition switch problem. Another announced recall concerns a faulty hose clamp that affects 56 Chevrolet Silverado HD and GMC Sierra HD pickup trucks […]

T-Mobile Settles Unlawful Billing Claims For $90 Million (NYSE:TMUS)

T-Mobile has agreed to settle charges that it unlawfully billed its customers by paying those customers and various government agencies at least $90 million in fines and refunds. Under an agreement reached with the Federal Trade Commission, T-Mobile must pay full refunds to all affected consumers. The company must also pay $4.5 million in penalties […]

Amazon Entangled In Another Fight With Authors (NASDAQ:AMZN)

On the dawn of the New Year, Amazon has found itself facing another fight with authors that sell books through the company. This time, the fight is over Amazon’s Kindle Unlimited service, which gives subscribers access to a library of nearly 700,000 books for the low price of $9.99 per month. While consumers seem to […]

Morgan Stanley Pre-Crash Business Practices Unveiled In Court Filing (NYSE:MS)

A court filing against Morgan Stanley regarding its role in the lending market prior to the financial crisis that began in 2008 has disclosed numerous details about the investment bank’s business practices. According to anonymous source with knowledge of the matter, the Justice Department has decided to focus on Morgan Stanley’s role in the debacle. […]

Sony, Microsoft Get Gaming Networks Back Online

Hackers have struck again, this time taking down the Sony (NYSE:SNE) PlayStation Network and the Microsoft (NASDAQ:MSFT) Xbox Live Network on Christmas Day. The hackers disabled the online services, making it nearly impossible for any user to log on to the network and stay active for more than a couple of minutes. Responsibility for the […]

Amazon Reports Impressive Numbers For The Holiday Season (NASDAQ:AMZN)

For most retailers reporting their holiday sales numbers, this holiday season seemed to be a pretty successful one. The major shopping days of this holiday season, including Thanksgiving, Black Friday and Christmas Day, all saw sales increasing over the same day last year. Cyber Monday 2014 was the first single $2 billion sales day in […]

Qualcomm On Track To Settle Antitrust Case (NASDAQ:QCOM)

Qualcomm Inc. is on track to settle antitrust allegations brought against the company by Chinese regulators, according to a report from the Chinese government. The U.S.-based mobile chipmaker has been under investigation for violating Chinese antitrust laws for more than a year now. According to all parties involved, the case will be settled in accordance […]

Citigroup Japanese Banking Division To Be Sold (NYSE:C)

According to an announcement from Citigroup, the company has reached an agreement to sell its Japanese banking division to the Sumitomo Mitsui Banking Corporation. Citibank Japan has 32 branches and 1,600 employees that serve nearly 740,000 retail customers and holds 2.44 trillion yen, or $20.3 billion, in deposits. Sumitomo Mitsui Banking has announced that it […]

Sony Comedy ‘The Interview’ Screened, Streamed Despite Threats (NYSE:SNE)

Sony Pictures Entertainment has released its new comedy “The Interview” to theaters and for online distribution despite terroristic threats being made against the company and anyone that views the film. The hackers that breached Sony’s computer systems made a threat of 9/11-style violence against any theaters that showed the comedy. The plot of the movie […]

Over One Million Payment Cards Exposed In Staples Security Breach (NASDAQ:SPLS)

Staples has announced that the security breach that affected the company back in October exposed the payment information of over 1 million credit and debit cards used at the company’s locations. The office-supply retailer said that about 1.16 million payment cards had their information exposed by the data breach. Staples is offering free identity protection, […]

Blackberry Revenue Drops Despite Release Of New Phones (NASDAQ:BBRY)

Blackberry’s earning results for the third quarter shows that little has changed for the company despite the introduction of new phones that were supposed to turn the company around. The company reported that its revenue for the third quarter had dropped to $793 million from $1.1 billion in revenue reported for the same quarter last […]

Google Attacks MPAA ‘Project Goliath’ (GOOG)

Google has publicly criticized the Motion Picture Association of America and six major studios for their secret collusion to fight against online piracy by attacking Google. The Motion Picture Association of America is Hollywood’s primary lobbying arm. A lawyer for the search giant released an open letter on Google’s public policy blog detailing the serious […]

Sony Saga Moves From Document Leaks To Terror Threats (SNY)

Sony Pictures Entertainment has been trying to deal with the fallout of having its computer systems taken down by hackers and multiple leaks of thousands of sensitive documents, including employees’ social security numbers, salary information, and private emails. Now, the company is dealing with terrorist threats made by the hackers to punish those who view […]

Boeing Announces Share Buyback Increase (NYSE:BA)

Boeing Co. has announced that the company would be increasing its quarterly dividend and boosting its share buyback plan. The Chicago-based plane manufacturer said that it would be boosting its quarterly dividend by 25 percent for its shareholders. The payout will be payable March 6 to shareholders of record as of Feb. 13. The dividend […]

RadioShack To Adopt Cost Reduction Plan To Slow Losses (RSH)

RadioShack is planning to adopt a cost reduction plan that is designed to reduce expenses enough to slow the losses the company has been suffering each quarter. In the company’s latest earning announcement, the company reported its eleventh straight quarterly loss. RadioShack is best known for being the premier seller of batteries and obscure electronic […]

Tesco Reduces Profit Estimate For Fiscal Year (TSCO)

Tesco recently released a statement regarding its earnings that reduced the company’s profit estimate for the year by a significant amount. The company revealed that its trading profit would not exceed 1.4 billion pounds, or about $2.2 billion for the financial year (trading profit excludes certain gains and losses on property and other items). Analysts […]

Citigroup Warns Of Multibillion Dollar Charge In Fourth Quarter (C)

Citigroup has made an announcement to investors about an expected $2.7 billion charge that will be taken by the company in the fourth quarter to pay legal expenses. The bank is currently dealing with multiple investigations into its business practices. Citigroup’s legal team is in talks with federal prosecutors and banking regulators to try and […]