25 result(s) displayed (1 - 25 of 88):
Two weeks after Johnson & Johnson (NYSE:JNJ) reported mixed earnings, which tugged stocks downward, the world's biggest healthcare company is looking to cut costs. Those cuts include 7,000 to 8,000 layoffs, mostly overseas.J&J chief executive William Weldon (pictured) said in a statement, "These types of changes are difficult under any...
Posted on November 3, 2009 4:11 PM
Icahn has bid adieu to Yahoo!. Months after publicly battling management to sell the company to Microsoft Corp. (NASDAQ:MSFT), billionaire activist investor Carl Icahn quietly announced his resignation from Yahoo! Inc.'s (NASDAQ:YHOO) board on Friday. The Deal Pipeline (subscription required) has more details on the Microsoft-Yahoo! search deal and earnings.Yahoo!...
Posted on October 26, 2009 10:04 AM
Industrial conglomerate United Technologies Corp. (NYSE:UTX), schlepping through the economic downturn with a restructuring program that cost it 15,000 jobs and $800 million this year, plans to "keep a lid on costs until it sees revenues solidly returning," CFO Greg Hayes said to analysts. The Hartford, Conn., company expects a...
Posted on October 21, 2009 4:00 PM
EMC Corp. (NYSE:EMC), easing through the integration of Data Domain Inc., reports third-quarter earnings on Thursday with a Webcast being held at 8:30 a.m. ET. Analyst takesLast week, Thomas Weisel Partners LLC analyst Doug Reid upgraded shares of the acquisitive data storage tech provider to "Overweight" from "Market Weight." He...
Posted on October 20, 2009 1:24 PM
EBay Inc. (NASDAQ:EBAY), which plans to lay off several dozen people, will report third-quarter earnings on Wednesday with the Webcast earnings call scheduled for 2:00 p.m. PT. Analysts are projecting a sliver of growth instead of declining revenue, which eBay has faced for a year. They project earnings of 37...
Posted on October 19, 2009 8:27 AM
The focus following General Electric Co.'s (NYSE:GE) third-quarter earnings release Friday has been on the conglomerate's finance and media holdings. Profit at GE Capital was off 87%, and the company is considering options for NBC Universal, including a possible spinoff. Getting less attention is GE Healthcare, which reported a 20%...
Posted on October 16, 2009 2:58 PM
Harley-Davidson Inc. (NYSE:HOG) reported an 84% drop in profit, but at 1:20 p.m. its stock was trading up more than 3% to $27.14 on a 52-week range of $7.99 to $28.75. Perhaps investors like the new strategy, or that sales fell at a slower rate -- a fact which CEO...
Posted on October 15, 2009 1:27 PM
Since winning The Deal's Most Admired Corporate Dealmaker award in the healthcare category in 2008, Abbott Laboratories (NYSE:ABT) has continued to aggressively pursue acquisitions. The company has announced five deals so far this year. We may get a sense of the strategy behind Abbott's recent purchases from its earnings...
Posted on October 12, 2009 2:15 PM
Paul Walsh, CEO of British drinks giant Diageo plc (NYSE:DEO), had a lot to say as the company reported a 7% rise in full-year profit -- the bottom of its target range -- and cut its growth target because of lingering economic concerns. The fact that the maker of Guinness...
Posted on August 28, 2009 8:42 AM
Anglo-Australian mining giant Rio Tinto plc (NYSE:RTP) reported first-half net earnings of $2.5 billion, 65% below first-half 2008 -- a result of metal and mineral prices diving with the economy and companies letting their inventories shrink.But asset sales, 16,000 job cuts, a $15.2 billion rights issue, a joint venture...
Posted on August 20, 2009 9:14 AM
The week after Goldman, Sachs & Co. (NYSE:GS) put a "Conviction Buy" rating on Dow Chemical Co. (NYSE:DOW), one time charges and weak sales swung the Midland, Mich., company to a second-quarter loss of $486 million. But surprisingly, if you exclude the one time charges, there would be a profit....
Posted on July 30, 2009 9:41 AM
Japan's Hitachi Ltd. (NYSE:HIT), which lost ¥82.67 billion ($874 million) in the first quarter due to lagging sales, is acquiring the remaining shares in five of its subsidiaries for ¥282 billion to create a "more stable earnings structure." Other companies in the overcrowded Japanese electronics market could follow its...
Posted on July 28, 2009 10:24 AM
New York-based telecom giant Verizon Communications Inc. (NYSE:VZ) still has more restructuring to do as corporate clients remain stingy. Verizon, which said profit dipped 21% in the second quarter, cut 8,000 people last year and will lay off 8,000 from its wireline business in the third quarter, including employees and...
Posted on July 27, 2009 4:02 PM
In 2007, CVS Corp. combined with pharmacy benefits manager Caremark Corp. for $26 billion, creating CVS Caremark Corp. (NYSE:CVS). Now, CVS may be looking to expand on that deal and acquire the 11.2 million member pharmacy-benefit management business of health insurer Aetna Inc. (NYSE:AET).The Wall Street Journal, citing people familiar...
Posted on July 27, 2009 11:12 AM
Certainly not, said Morgan Stanley (NYSE:MS) CFO Colm Kelleher, in response to the fastball pitched by Mike Mayo, an analyst for CLSA Asia-Pacific Markets, during Wednesday's earnings call. "We have no buyer's remorse; we are really comfortable with the acquisition and joint venture itself," Kelleher (pictured) replied. You can't blame...
Posted on July 22, 2009 4:50 PM
Wall Street underestimated Pepsi Bottling Group Inc. (NYSE:PBG), which said second-quarter profit rose 21% on a tax gain and slower declines in Canada and the U.S. On the flip side, though, its revenue missed Street expectations. Sales of bottled water and more expensive offerings, like ready-to-drink teas, have weakened during...
Posted on July 8, 2009 3:30 PM
Tata Motors Ltd., which spent $2.4 billion acquiring the Jaguar and Land Rover brands from Ford Motor Co. (NYSE:F) a year ago, just reported its first annual loss in at least seven years as the recession strangled sales in its luxury unit. Tata lost about 25 billion rupees ($520 million)...
Posted on June 26, 2009 12:30 PM
For the first time, Facebook Inc. passed MySpace in terms of U.S. visitors for a month. ComScore Inc. said Facebook's users almost doubled from a year earlier, while MySpace lost 5%. It's a figure News Corp.'s (NYSE:NWS) chief digital officer Jonathan Miller must be very familiar with. However, he's no...
Posted on June 16, 2009 5:25 PM
With a possible price tag of about $8 billion, Addax Petroleum Corp (LSE:AXC) could become Chinese-owned soon. Responding to reports, Addax announced it has held preliminary discussions with third parties expressing an interest in a potential deal. A report from South China Morning Post said China Petroleum & Chemical...
Posted on June 8, 2009 12:31 PM
Investment banking veteran Michael Caulfield, like many of his Bank of America Corp. (NYSE:BAC) colleagues, has left the firm. But he didn't defect to a rival, instead choosing to join a company he was charged with figuring out strategic alternatives for -- Digital Ally Inc. (NASDAQ:DGLY).First, a little background...
Posted on June 2, 2009 1:35 PM
After dropping out of a $10 billion deal in November, citing the economy, Alpha Natural Resources Inc. (NYSE:ANR) is back at the deal table, acquiring Foundation Coal Holdings Inc. (NYSE:FCL) for about $2 billion in stock and debt.In a statement, the companies said that combined, they will have one of...
Posted on May 12, 2009 8:42 AM
Barring other tactics, PepsiCo Inc. (NYSE:PEP) will need to raise its $6 billion cash-and-stock bid for its two biggest bottlers. The transactions committee at PepsiAmericas Inc. (NYSE:PAS) followed suit with the special committee at larger Pepsi Bottling Group Inc. (NYSE:PBG), saying the offer "significantly undervalues the strategic benefits of system...
Posted on May 7, 2009 8:56 AM
World No. 1 generic drug maker Teva Pharmaceutical Industries Ltd. (NASDAQ:TEVA) beat its profit forecast as its $7.46 billion acquisition of Montvale, N.J., rival Barr Pharmaceuticals Inc. is paying off more than expected and it recorded record-breaking sales of Copaxone, a drug used in multiple sclerosis treatment.The Israeli drug company,...
Posted on May 5, 2009 3:12 PM
India's Godrej Consumer Products Ltd. is looking to use $1 billion to make about 10 to 20 acquisitions in emerging markets, including China, Brazil, Indonesia, Philippines, Thailand, Egypt, South Africa and Mexico, according to news source PTI.The report cited chairman Adi Godrej, who said, "The rural FMCG [fast moving...
Posted on May 5, 2009 11:20 AM
Technology-focused Forrester Research Inc. (NASDAQ:FORR) is forecasting a 2010 uptick and is looking for acquisitions as it has "lots of cash." Last year, the firm acquired research data provider JupiterResearch LLC, which focuses on Internet and emerging consumer technologies.In a Reuters interview, chief financial officer Michael Doyle said that while...
Posted on May 4, 2009 2:09 PM
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