Home » Archive for January, 2013

Profits for China’s Lenovo Beat Estimates

Computer maker Lenovo Group Ltd. based in China, is on its way to claiming the top spot in personal computer manufacturing in the world. The company also reported a record profit for its recently ended third quarter. The profit was 33% higher for the quarter that ended December 31, 2012 than the same quarter a year earlier. The Chinese computer maker gained much more market share for PCs and made large inroads in the smartphone business. Lenovo is the maker of ThinkPad and is now China’s second largest vendor of smartphones. On Wednesday, the... 
 

Ford Earnings for Fourth Quarter Announced

Ford Motor reported its earnings for the fourth quarter, which was its highest for the fourth quarter in over a decade. The automaker reported earnings of $1.7 billion during the last three month of 2012, due in large part to an increase in SUV and truck sales along with higher prices for all models. Earnings were 31 cents per share, which beat forecasts from Wall Street of as high as 28 cents per share. On the news, shares of Ford jumped close to 2.7% in premarket trading on Tuesday. However, an hour after the announcement, the shares had reversed... 
 

US Gas Prices Increase to $3.3443 per Gallon

The average price for regular gasoline increased 1.96 cents per gallon in the past two weeks to $3.3443 per gallon. This is according to the Lundberg Survey Inc. The survey covered the period ending January 25 and based on data collected from around 2,500 stations. The average was down 5.01 cents compared to data from last year. Refiners paid more for crude and they passed on the amount to their marketers. West Texas Intermediate crude on the New York Mercantile Exchange increased $2.32 or 2.5 percent to $95.88 per barrel in the two weeks ending... 
 

Japanese Automakers Make Huge Comeback

Toyota, the Japanese automaker, has once again taken over the top spot as the largest automaker in the world. Toyota lost that distinction in 2011 to General Motors, but in 2012 sold more than 9.75 million autos to set a new record. The car industry throughout Japan has seen a strong rebound over the past 12 months. Japanese auto industry sales were up 22% for 2012 helping Toyota win back the title as largest automaker in the world from GM. Toyota has lost that distinction after their were supply disruptions both in Thailand and Japan as well as... 
 

FDA Approves New Use for Pfizer Vaccine

Pfizer received approval from the U.S. Food and Drug Administration on Friday to use Prevnar 13 in children and adolescents between the age of 6 and 17 to prevent Invasive Pneumococcal Disease. Prevnar 13 becomes the first and just the only Pneumococcal Conjugate Vaccine that has been approved for this particular age group. Pfizer announced the FDA’s approval for expanded use of the vaccine in a Friday press release. In this age group, the vaccine will be administered via a one-time only dose to those who have not received Prevnar 13 previously. Pfizer... 
 

Apple No Longer World’s Most Valuable Business

Apple sat atop the list of most valuable companies in the world for 12 months, but has been overtaken by Exxon Mobile. Apple stock has lost 17% of its value since the start of 2013 and over 37% since it became the highest valued company of all time in September of 2012. The decrease in stock price is the worst for any member of the Standard & Poor’s 500 Index this year. Exxon with its market capitalization of $418 billion now surpasses the $413 billion of Apple. The drop off in value of Apple is representative of the loss in confidence of... 
 

Profit for Proctor & Gamble Tops Estimates

Proctor & Gamble, whose CEO is being pressured by Bill Ackman an activist investor, upped its earnings forecast for 2013 after its U.S. market share was increased and it posted profit for the latest quarter that exceeded Wall Street expectations. P&G’s net income was $4.06 billion over double what it was for the same quarter one year ago. Excluding some items, the profit for P&G, based in Cincinnati, was at $1.22 per share, which topped the estimates of $1.11. Bob McDonald, the CEO, has reduced expenses by eliminating jobs and consolidating... 
 

Apple Stock Plummets After Sales Miss Analysts Estimates

For many Wall Street analysts the phenomenal growth of the iPhone might be near its end, as sales for the smartphone missed their mark of 50 million for the year’s fourth quarter that was set by Wall Street. The announcement by Apple of lower than anticipated sales for the iPhone underscores the fears that the iPhone might be losing its unique allure. Apple’s earnings reports has been highly anticipated during this earnings season and disappointed many when flat profits were announced along with sales slightly missing estimates. Once investors... 
 

Microsoft-Dell Partnership Advantageous for Both Companies

There are speculations that Dell is buying back stock and become a private company again. There are also new rumors that Microsoft will be involved in it. According to reports, Microsoft is planning to invest up to $3 billion for a stake in the private Dell. Michael Dell asserts that Dell is not just a PC company anymore and it has expanded in various areas of technology. But the company is still synonymous with PC and its fortunes have dwindled as the PC industry got anemic sales. By going private, Dell would be free to do risky things that it... 
 

Google Reports Record Annual Revenues

Google reported its revenues for the fourth quarter at $14.43 billion, which was up 36% for the same period one year ago. The quarterly revenues brought the annual revenue for the Internet search giant to more than $50 billion. It marks the first time in the company’s history that revenues exceeded the $50 billion mark. Excluding costs for traffic-acquisition, Google saw its net revenue reach $9.83 billion, which was up from last year’s $8.13 billion during the same reporting period. The expectations of analysts’ on Wall Street were eclipsed... 
 

Verizon Reports loss of $1.93 Billion

Verizon Communications the telecommunications group from the United States posted a quarterly loss of $1.93 billion on charges related to Hurricane Sandy and pension liabilities that took much of the shine off an increase in revenue for the wireless company. Stock prices for the company dropped over 2% to just $41.55 in pre-trading. The wireless business for the telephone company had an operating margin that slightly increased to 24%. This sector for Verizon represents over two-thirds of all the revenue for the business. Smartphones are subsidized... 
 

Huawei Would Consider Going Public

Chinese telecommunications equipment maker Huawei Technologies has announced it would consider offering potential investors an initial public offering after posting sales that would likely pass those of rival Ericsson. For the company to decide to have an IPO, it would greatly depend on interest coming from individuals interested in becoming shareholders. Huawei, said Cathy Meng Wanzhou the company’s Chief Financial Officer, does not need to raise any new capital. The company expects sales to increase this year by 12% compared to an increase of... 
 

GE Gets Sharp 4th Quarter Profit

General Electric released its profits report Friday that showed better than expected increase of 7.5 percent in its fourth quarter profit as well as a sharp increase in its backlog of equipment orders. GE got strong earnings growth at units that make equipment used in oil and gas; and jet engines. Chief executive Jeffrey R. Immelt said that the company worked hard to expand its presence in the energy industry in recent years. The order backlog is seen by investors as a vital sign of future sales growth. It hit a record high $210 billion in the last... 
 

eBay Says 2012 was its best Year

Internet commerce is becoming more and more common and eBay, the e-commerce pioneer, says that it enjoyed its best year to date in 2012. The company said shoppers flocked to its site in search of bargains and used its payment service, which helped lift eBay to fourth quarter earnings that exceeded Wall Street projections. The results helped to give eBay its best year since it was founded in 1995. At that time, the thought of purchasing merchandise via the Internet seemed somewhat absurd. However, since that time, e-commerce has become an every second... 
 

Chrysler Reports Strong Sales

Chrysler has become the envy of Detroit because of its strong sales and new models. Just a few years ago, the company plunged into bankruptcy. But it managed to revive its business and left Ford Motor Company and General Motors playing catch up. Chrysler is the smallest among the American automakers. It kicked off the Detroit auto show Monday with new models of the Compass SUV and the Grand Cherokee. The two Jeep models helped the company’s strong sales growth since tis bankruptcy and government bailout in 2009. Chrysler got a 20.6 percent increase... 
 
Advertisement
Advertisement
© 2006-2015 Leoncheng.