Business News

Milwaukee Journal Sentinel (Wisconsin) (April 23, 2014)
With strong sales of the Project Rushmore touring motorcycles and other new bikes in its lineup, Harley-Davidson Inc. reported a 22% increase in first-quarter earnings Tuesday.  The world's largest maker of heavyweight motorcycles said it earned $265.9 million, or $1.21 a share, up from $224.1 million, or 99 cents, a year ago. Analysts on average had expected a profit of $1.08 a share, according to Thomson Reuters.
Fort Worth Star-Telegram (Texas) (April 24, 2014)
D.R. Horton, America’s largest homebuilder, today reported an 18 percent rise in profit in its fiscal second quarter as it pushed prices higher in the wake of a nationwide shortage of new and existing homes for sale.
The Boston Globe (April 24, 2014)
NEW YORK — Warren Buffett says he disapproves of Coca-Cola's highly contested pay plan for its executives.
The Boston Globe (April 24, 2014)
NEW YORK — A federal appeals court reinstated the European Union's 12-year-old lawsuit claiming tobacco company R.J. Reynolds sponsored cigarette smuggling in Europe and orchestrated a global money-laundering scheme with organized crime groups.
The Boston Globe (April 24, 2014)
NEW YORK — Facebook's earnings and revenue grew sharply in the first quarter, surpassing Wall Street's expectations thanks to an 82 percent increase in advertising sales.
The New York Times (April 24, 2014)
SAN FRANCISCO -- As Facebook reported another quarter of strong revenue and profit growth on Wednesday, its executives made one thing very clear: The company's money machine has just begun to spit out the cash. Two out of three of Facebook's 1.28 billion monthly users log in to the social network every day, the company said. Americans spend about one-fifth of their time on mobile phones checking Facebook, according to comScore, a research firm. But when it comes to making money from that...
The New York Times (April 24, 2014)
Boeing said on Wednesday that its core operating earnings rose 12 percent in the first quarter, beating analysts' expectations as the company continued to capitalize on the demand for new passenger planes.
Los Angeles Times (April 24, 2014)
General Motors' giant recall scandal looks to have a silver lining for GM dealers -- millions of dollars in lucrative repair bills that their service departments can charge back to the nation's biggest automaker. The car company will pay dealers -- independent businesses licensed to sell and repair GM vehicles -- to fix up to 6 million vehicles recalled so far this year. The total includes 2.2 million of GM's Chevrolet Cobalt and other older vehicles equipped with a faulty ignition switch...
Los Angeles Times (April 24, 2014)
Talk of Silicon Valley losing steam was put on hold as two technology titans, Apple Inc. and Facebook Inc., tallied better-than-expected quarterly earnings and revenue. Apple's stock climbed more than 7% in after-hours trading after it reported that sales of iPhones blew past Wall Street's projections. Facebook's shares spiked 4% after it said ad revenue rose 82% year over year. Although many tech stocks slid in recent weeks, the robust financial results demonstrated that, at least for now, the...
The Washington Post (April 24, 2014)
Sales at two Falls Church defense giants, General Dynamics and Northrop Grumman, declined in the first quarter, while profits increased as both companies continued to trim costs.  Profits at General Dynamics increased 4.2 percent during the first quarter to $595 million or $1.74 per share, while revenue declined 1.1 percent compared with a year ago, the company reported Wednesday. Operating costs were down 1.6 percent compared with a year ago. Revenue declined in three out of four of the...
Charlotte Observer (North Carolina) (April 23, 2014)
Harris Teeter said Wednesday that it is lowering prices on thousands of items in its Charlotte-area and Asheville stores, following its recent acquisition by the Kroger Co.
Fort Worth Star-Telegram (Texas) (April 22, 2014)
Troy Risch, executive vice president of store operations for RadioShack Corp. for 15 months, resigned last week “to pursue other
The Boston Globe (April 23, 2014)
NEW YORK — AT&T and an investment firm run by former News Corp. executive Peter Chernin have formed an online video venture that could rival Netflix and Hulu.
The Boston Globe (April 23, 2014)
SAN FRANCISCO — Amazon.com is taking a hit in states that are collecting an online sales tax. In one of the first efforts to quantify the impact of states accruing more tax revenue from Web purchases, researchers at Ohio State University published a paper this month that found sales dropped for Amazon when the online charge was introduced.
The New York Times (April 23, 2014)
Updated, 8:18 p.m. | The Swiss pharmaceutical giant Novartis and its British rival GlaxoSmithKline announced on Tuesday that they would swap more than $20 billion in assets as they seek to sharpen the focus of their businesses. Novartis agreed to buy GlaxoSmithKline's cancer drug business for as much as $16 billion, depending on development milestones. In return, GlaxoSmithKline said it would pay as much as $7.1 billion for Novartis's vaccine business. The companies will also combine Novartis's...
The New York Times (April 23, 2014)
About 30,000 golf carts and buggies are being recalled because the steering wheel may be loose, according to the Consumer Product Safety Commission. Ford is recalling almost 4,000 of its heavy-duty pickup trucks because they might go into reverse when the driver wants to move forward.
The New York Times (April 23, 2014)
The $45.6 billion unsolicited offer for Allergan by Valeant Pharmaceuticals and William A. Ackman's hedge fund is many things, including bold, novel and mega in all ways. It is a new twist in the struggle between companies and shareholder activists, and could ignite a furious battle not just for Allergan but over the laws governing takeovers and activism. The pairing of an activist and a corporation in a hostile takeover is no doubt novel. As Michael J. de la Merced, David Gelles and Alexandra...
Los Angeles Times (April 23, 2014)
The nation's largest motorcycle company reported stronger-than-expected first-quarter results. Harley-Davidson Inc. on Tuesday reported net income of $265.9 million and revenue of $1.73 billion, up from 2013 first-quarter net income of $224.1 million and revenue of $1.57 billion. Earnings for the quarter were $1.21 a share, well above analysts' expectations of $1.08.
Los Angeles Times (April 23, 2014)
Lockheed Martin Corp. said its first-quarter profit rose 23%, topping analysts' estimates, even as federal budget cuts sapped sales. Profit grew to $933 million, or $2.87 a share, from $761 million, or $2.33, a year earlier, the company said. That exceeded the $2.53-a-share estimate of analysts surveyed by Bloomberg. Sales fell 3.8% to $10.7 billion. Defense revenue has dropped about 10% in the last two years because of automatic federal spending cuts.
Los Angeles Times (April 23, 2014)
Yum Brands Inc., owner of the KFC and Taco Bell restaurant chains, said first-quarter profit rose 18% as sales rebounded in China. Net income advanced to $399 million, or 87 cents a share, from $337 million, or 72 cents, a year earlier, Yum Brands said. Analysts estimated 84 cents a share in a Bloomberg survey. Revenue climbed 7.5% to $2.72 billion. Analysts estimated $2.79 billion.
The Courier-Journal (Louisville, Kentucky) (April 21, 2014)
General Motors said Sunday it will boost production capacity in China to 5million. Speaking at the Beijing auto show, President Dan Ammann said GM expects sales of Cadillac luxury cars to double to 100,000 next year. GM and its Chinese partners plan to invest $12 billion there by 2017, opening three factories this year and two more next year. GM is vying with Volkswagen to be China's No. 1 auto brand.
The Boston Globe (April 22, 2014)
Newmont Mining Corp. jumped 6.4 percent on reports it's considering a merger with Barrick Gold Corp. The companies are seeking to cut costs after a slump in gold and other metal prices. Barrick stock fell 3.9 percent, however. The Wall Street Journal had reported that talks between the world's two largest gold producers broke down, but could resume. A merger would probably save money, given that much of both companies' production is in Nevada.
The Boston Globe (April 22, 2014)
NEW YORK — AT&T plans a major expansion of a super-fast Internet service to cover as many as 100 municipalities in 25 metropolitan areas. The service, called GigaPower, has a 1 gigabit per second speed, which is about 100 times what US consumers typically get with broadband. That means faster video downloads and the ability for more devices to connect to the network without causing congestion.
The Boston Globe (April 22, 2014)
A Cambridge obesity treatment developer has filed plans to go public and raise $86.2 million. Zafgen Inc. is developing drugs to treat severely obese patients who aren't helped by other treatments. The firm's lead product candidate is a twice-a-week injection.
The Boston Globe (April 22, 2014)
SAN FRANCISCO — Apple is offering free recycling of all its used products and vowing to power all of its stores, offices, and data centers with renewable energy to reduce the pollution caused by its devices and online services. The iPhone and iPad maker detailed its efforts to cultivate a greener Apple Inc. in an environmental section on the company's website that debuted Monday. The site highlights the ways that the Cupertino, Calif., company is increasing its reliance on alternative power...
Last Updated: 2014-04-25 @4:31
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