July 19, 2013 7:54 am
The continuous decline of PC sales and a $900 million charge against profits coming from weak demand for its Surface tablet hit Microsoft’s revenues and earnings in the latest quarter, according to figures released on Thursday. The news came a day after Intel slashed its forecasts for a partial recovery in PC sales later this […]
Read moreJuly 19, 2013 7:04 am
U.S. stocks gained, sending benchmark indexes to record highs, as earnings from financial institutions jumped. Revenues beat estimates and jobless claims fell amid testimony from Federal Reserve Chairman Ben S. Bernanke. The Standard & Poor’s 500 Index gained 0.5% to 1,689.37 at 4 p.m. in New York. The index surpassed its previous daily high of […]
Read moreJuly 18, 2013 3:21 pm
Morgan Stanley reported its second quarter net income almost doubled to $980 million following a jump in demand for trading and investment banking activity. Revenues rose 22% to $8.5 billion in the three months to July. Adjusted earnings per share, which strip out the effect of an acquisition were 45 cents a share – just […]
Read moreJuly 18, 2013 1:47 pm
Walt Disney Co. is removing some benefits such as executive car allowances as the world’s biggest entertainment company looks to further boost profitability. Disney has been reducing costs by cutting hundreds of jobs, closing offices and outsourcing duties like video-game development as it looks to create bigger profit margins and extend a more than doubling […]
Read moreJuly 18, 2013 1:24 pm
U.S. stock futures slightly advanced, indicating a second day of modest gains for benchmark indexes, as jobless claims fell to a two-month low and investors awaited Federal Reserve Chairman Ben Bernankes testimony. Future contracts on the Standard & Poor’s 500 Index expiring in September gained 0.2% to 1,679.20 at 9:00 a.m. in New York. Contracts […]
Read moreJuly 18, 2013 12:35 pm
Nokia shares fell as the smart phone maker sold the fewest number of mobile phones in a quarter of eight years as shipments of both top-end smartphones and basic devices disappointed. The sales of 61.1 million mobile devices in second quarter are highly disappointing comparing to analysts average estimated 63.5. That was the lowest number […]
Read moreJuly 18, 2013 12:01 pm
Intel has cut its financial forecasts for the rest of the year after concluding that sluggish PC market would not see the recovery it had been expecting in the second half of 2013. Brian Krzanich, the company’s new chief executive, explained that the world’s biggest chip-maker had been shifting strategy to mobile computing and to […]
Read moreJuly 18, 2013 11:22 am
IBM adjusted its operating profit forecast for the year after beating analysts’ earnings forecasts for the second quarter, but said that an asset sale was now unlikely before the end of 2013. Last three months, IBM said revenue fell 3.3% to $24.9 billion, missing analysts’ estimates of $25.4 billion for the second consecutive quarter, amid […]
Read moreJuly 18, 2013 7:18 am
U.S. stocks advance, after the Standard & Poor’s 500 Index broke an eight day streak of gains yesterday, as Federal Reserve Chairman Ben S. Bernanke said the central banks actions still depend on upcoming data. The S&P 500 jumped back 0.3% to 1,680.91 at 4 p.m. in New York, after falling from a record high […]
Read moreJuly 17, 2013 11:55 am
U.S. stock index futures were little changed as investors are focusing their attention on Federal Reserve Chairman Ben S. Bernanke’s testimony to Congress and as Bank of England officials dropped their calls for more bond purchases. Futures on the Standard & Poor’s 500 Index expiring in September change upward less than 0.1% to 1,671.5 at […]
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