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Sears Planning Additional Store Closures
The troubled Sears Holdings (NASDAQ:SHLD) will be closing an additional 66 stores, according to a source close to the company. The new round of planned closures include 49 Kmart and 17 Sears stores. There are also reports that seven... More of this article »
Reports Emerge Of New Amazon Android Phone In Works
Amazon (NASDAQ:AMZN) is reportedly building a new phone based on the Android mobile operating system. Reports citing “two sources familiar with the matter” say that Amazon is quietly developing a new smartphone being referred... More of this article »
Google Adding New Ad-Blocking Feature To Chrome
Alphabet’s (NASDAQ:GOOG) Google will add a new feature to its Chrome web browser that will block certain types of ads from being seen by users. Sridhar Ramaswamy, senior vice president of ads and commerce, outlined the company’s... More of this article »
Michael Kors Announces Plan To Close Many Locations
Michael Kors (NYSE:KORS) has announced plans to close 100 to 125 full-price stores over the next two years. As of April 1, the company had 827 retail locations. The company will be holding an investor day at its New York headquarters... More of this article »
Super Antibiotic Created To Fight Superbugs
Researchers in the United States have managed to re-engineer a vital antibiotic to better attack some of the world’s most threatening superbugs. A new version of vancomycin is designed to be super tough and much more potent than... More of this article »
Exercise Proven To Improve Sleep
If you are having trouble sleeping, science has found a much safer solution than sleeping pills. Research suggests those who are physically active a have lower risk of developing insomnia and other sleeping difficulties. The University... More of this article »
Sears Q1 Earnings Report Shows Promise
Sears Holdings Corp. (NASDAQ:SHLD) has just reported its first quarterly profit in nearly two years. Net income attributable to Sears’ shareholders was $244 million, or $2.28 per share. On an adjusted basis, the company reported... More of this article »
Proposed Cuts To USDA Worry Farmers
The U.S. Department of Agriculture’s proposed 2018 budget includes a 20 percent cut in the agency’s discretionary spending. The proposed cuts include a reduction in money for agricultural research, reduced food aid for the... More of this article »
Supreme Court Ruling Deals Blow To Patent Trolls
A ruling made by the U.S. Supreme Court on Monday may make it harder for dodgy patent lawsuits to be filed in friendly courts. The decision came from a legal battle between beverage flavoring company TC Heartland LLC and food and beverage... More of this article »
AT&T Strike Closes Some Wireless Stores
Some AT&T (NYSE:T) wireless retail stores across the country were closed on Saturday as striking workers picketed outside. Reports came of sporadic store closings from Montana to Bangor, Maine. This was the first labor strike... More of this article »
Dunkin’ Donuts Launches Nationwide Tasting Event For New Product
Dunkin’ Donuts (NASDAQ:DNKN) has launched a nationwide tasting event to give away free samples of its new summer drink on Friday. The new Frozen Dunkin’ Coffee is made with a special extract featuring 100 percent Arabica coffee... More of this article »
Salesforce Beats On Earnings And Revenue In Q1
Salesforce (NYSE: CRM), announced results for its fiscal first quarter, ended April 30, 2017, today. The company reported a net loss of $9.2 million, or 1 cent per share, in the latest quarter, compared with a profit of $38.8 million,... More of this article »
Qualcomm Goes After Apple’s Contract Manufacturers Over Royalties
Qualcomm Inc. (NASDAQ:QCOM) is now suing several Apple Inc. (NASDAQ:AAPL) contract manufacturers for failure to pay patent royalties. Qualcomm filed its complaint in federal court in San Diego. The company says that four Asian contract... More of this article »
Sears Launches Lawsuit Against Tool Vendor
Sears (NASDAQ:SHLD) has filed a lawsuit against top tool vendor One World Technologies for allegedly refusing to honor its contract with the retailer. One World Technologies is a subsidiary of China-based Techtronic Industries. The... More of this article »
General Motors Launches Maven In NYC
General Motors (NYSE:GM) launched Maven, its new ride-sharing service, in New York City on Monday. NYC is a key market for Maven, and could be one of its strongest, given the urban density. The service will initially have 80 cars available... More of this article »
Eli Lilly Reports Successful Trial Of New Migraine Drug
A new drug from Eli Lilly (NYSE:LLY) has reached its main goals in late-stage clinical trials, according to a statement from the company released Friday. The drug, galcanezumab, was in three Phase 3 clinical trials. Galcanezumab is... More of this article »
Verizon Emerges As Winner Of Straight Path Sale
Verizon Communications Inc. (NYSE:VZ) is the winner of the auction for wireless spectrum holder Straight Path Communications Inc. (NYSE:STRP) with a $3.1 billion bid. The $184 per share all-stock offer represents a discount of 17.8... More of this article »
Time Inc. Reports Another Sales Decline
Time Inc. (NYSE:TIME) reported another drop in quarterly sales in the first quarter of its fiscal year, ended March 31. On its earnings call Wednesday, Time reported a loss of $28 million, or 29 cents per share in the first quarter,... More of this article »
Coach Acquiring Kate Spade For $2.4B
Handbag maker Coach Inc. (NYSE:COH) has announced it has reached a deal to acquire its smaller rival, Kate Spade & Co. (NYSE:KATE), for $2.4 billion. Coach has reportedly agreed to pay $18.50 per share in an all-cash offer, representing... More of this article »
21st Century Fox Sets Sights On Tribune Media
Reports have emerged that 21st Century Fox (NASDAQ:FOX) is in talks with private equity firm Blackstone to launch a joint bid for Tribune Media (NYSE:TRCO). The companies plan to form a joint venture for the deal, having Blackstone... More of this article »
Anthem Fails To Overturn Block of Cigna Merger
An appeals court has denied Anthem Inc.’s (NYSE:ANTM) bid to overturn a court ruling that blocked its planned merger with Cigna Corp. (NYSE:CI) The federal appeals panel in Washington upheld the lower court’s ruling by a 2-1 vote.... More of this article »
Under Armour Posts First Loss Since IPO
In the first quarter of fiscal year 2017, Under Armour (NYSE:UA) recorded its first loss since it went public in 2005, posting a $2.27 million loss or 1 cent a share. Discounts have heavily weighed on its results. The company’s first-quarter... More of this article »
A Chipotle Recovery May Be In The Works
Chipotle Mexican Grill Inc. (NYSE:CMG) appears to be recovering after five quarters of declines. The company reported earnings of $1.60 a share last quarter, higher than the $1.29 predicted by analysts. Revenue climbed to $1.07 billion,... More of this article »
General Motors’ Efforts To Limit Lawsuits Fail
General Motors’ (NYSE:GM) request to the U.S. Supreme Court to keep hundreds of lawsuits related to its faulty ignition switches from proceeding has been denied. The company could now be exposed to billions of dollars in additional... More of this article »
Panera Plans To Expand Delivery, Add Jobs
Panera Bread Co. (NASDAQ:PNRA) has announced plans to expand delivery services to more of its cafes and hire 10,000 new employees by the end of the year. It hopes to expand delivery to 35 percent to 40 percent of locations by the end... More of this article »
Wells Fargo Expands Account Scandal Settlement
Banking giant Wells Fargo (NYSE:WFC) has announced that it is expanding the settlement it reached over charges that it fraudulently opened bank and credit accounts in customers’ names. Wells Fargo said it will add $32 million... More of this article »
Verizon Misses Expectations For Q1
Verizon Communications Inc. (NYSE:VZ), the No. 1 U.S. wireless carrier, missed earnings expectations for the first quarter of its fiscal year. Verizon reported net income of $3.45 billion, or 84 cents per share, in the quarter ended... More of this article »
Qualcomm Beats Expectations For Q2
Qualcomm Inc. (NASDAQ:QCOM) reported adjusted sales and profit that topped analysts’ estimates in the period that ended in March. The company reported that net income fell to $749 million, or 50 cents a share, in the fiscal second... More of this article »
Goldman Sachs Misses Expectations For Q1
Goldman Sachs Group Inc. (NYSE:GS) missed earnings expectations for the first quarter of its fiscal year in a rare fumble for the fifth-largest U.S. bank by assets. Net income almost doubled to $2.26 billion, or $5.15 a share, from... More of this article »
Netflix Misses Growth Target For First Quarter
Netflix (NASDAQ:NFLX) missed its subscriber growth targets for the first quarter. Netflix added nearly 5 million new subscribers in the quarter, 3.5 million of whom were overseas. The streaming service had expected to add a net 5.2... More of this article »
Uber Targeted Lyft Drivers With ‘Hell’ Program
Uber has been accused of using a secret software program to spy on its rival, Lyft, from 2014 to 2016. Using its software, Uber could track how many Lyft drivers were available for new rides and where they were. The company then took... More of this article »
Wells Fargo Announces Further Clawbacks Of Executive Compensation
Wells Fargo (NYSE:WFC) has announced its intentions to claw back tens of millions in additional compensation from top former executives involved in the fake account scandal that rocked the bank last year. The crisis blew up for Wells... More of this article »
Payless ShoeSource Files For Chapter 11 Bankruptcy
Payless ShoeSource has become the latest major retailer to file for Chapter 11 bankruptcy. Payless chief executive W. Paul Jones released a statement saying, “This is a difficult, but necessary, decision driven by the continued challenges... More of this article »
Verizon Announces New Plans For AOL And Yahoo
After Verizon’s (NYSE:VZ) purchase of Yahoo goes through, AOL and Yahoo will be merged into a company known as “Oath.” The company has plans to launch Oath in the coming months, according to an AOL spokeswoman. The... More of this article »
Reports Claim Panera Bread Exploring Possible Sale
Reports have surfaced that Panera Bread (NASDAQ:PNRA) is exploring a possible sale. According to sources close to the company, Panera is working with advisors to look over strategic options after receiving takeover interest. Potential... More of this article »
Mylan Expands EpiPen Recall
Drugmaker Mylan NV has expanded a recall of EpiPen devices in the United States and other markets. Meridian Medical Technologies, Mylan’s manufacturing partner, has issued a voluntary recall for 13 lots of the EpiPen and EpiPen... More of this article »
DuPont-Dow Merger Delayed By FMC Asset Deal
To win European Union approval for its merger with Dow Chemical (DOW.N), DuPont (DD.N) has announced its intentions to sell part of its crop protection business to FMC Corp. (FMC.N) while buying another unit of the company. This will... More of this article »
Lululemon Reports Mixed Results For Fourth Quarter
Lululemon (NASDAQ:LULU) reported mixed earnings for the fourth quarter. Net income increased to $136 million, or 99 cents per share, from $117 million, or 85 cents per share, in the same quarter a year earlier. CEO Laurent Potdevin... More of this article »
Tesla CEO Launches New Brain-Focused Company
Tesla CEO Elon Musk has announced on Twitter that he is starting another company and that more details would be coming “in about a week.” The statement says the company, to be called Neuralink, will work on the development... More of this article »
Darden Restaurants Adds Cheddar’s Scratch Kitchen To Portfolio
Darden Restaurants (NYSE:DRI) has agreed to buy Cheddar’s Scratch Kitchen for $780 million in cash. Cheddar’s sells pasta, sirloin steaks, grilled catfish and baby-back ribs, among other home-style favorites. Darden’s... More of this article »
Dow DuPont Merger Receives EU Approval
Dow Chemical (NYSE:DOW) and DuPont (NYSE:DD) have received approval for their $130 billion merger from the European Union. The approval is a big victory for the companies. The European Union’s approval means the deal will remain... More of this article »
Alaska Air Ending Virgin America Brand
Alaska Air Group (NYSE:ALK) has announced that it would be retiring the Virgin America brand in 2019. Alaska’s vice president of marketing Sangita Woerner said in a statement, “While the Virgin America name is beloved to many,... More of this article »
Exxon Mobil Admits To Losing Subpoenaed Emails
Exxon Mobil (NYSE:XOM) has admitted in Manhattan Supreme Court that it lost a year’s worth of emails from an alias account used by its former CEO during his tenure. Attorney General Eric Schneiderman made accusations earlier this... More of this article »
Potential Merger Between Albertsons And Sprouts In Works
Reports have emerged of a potential merger between grocery giant Albertsons and Sprouts Farmers Markets (NASDAQ:SFM). According to sources that asked to remain anonymous, the discussions are at an early stage and may not lead to a... More of this article »
Wal-Mart Buys Online Retailer ModCloth
Wal-Mart (NYSE:WMT) has purchased online women’s fashion retailer Modcloth for an undisclosed amount, although Wal-Mart did say it was an all-cash acquisition. The deal included both assets and operations. The company announced... More of this article »
McDonald’s Launches Mobile Ordering Beta Test
McDonald’s Corp. (NYSE:MCD) is beta testing mobile ordering at 29 restaurants in Monterey and Salinas, Calif., this week. Next week, the testing will expand to 51 more restaurants in Spokane, Wash. The local pilot tests are designed... More of this article »
New Novartis Breast Cancer Drug Approved By FDA
Swiss drugmaker Novartis AG (NYSE:NVS) has received approval from the U.S. Food and Drug Administration for a new breast cancer drug called Kisqali, known chemically as ribociclib. Novartis developed Kisqali along with Astex Pharmaceuticals,... More of this article »
Google Releases New CAPTCHA Version To Developers
Alphabet’s (NASDAQ:GOOG) Google has released a new version of the CAPTCHA test that will be less intrusive to internet users. The new Invisible reCAPTCHA feature is a free service is designed to protect sites and apps from spam and... More of this article »