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HP's slumps deepens in 2Q as earnings fall 32 pct
Hewlett-Packard's slump is deepening as the world's largest personal computer maker scrambles to meet the growing demand for more versatile and less expensive mobile devices. The latest evidence of Hewlett-Packard Co.'s continuing downfall came in a quarterly earnings report released Wednesday. The results included the seventh consecutive decline in HP's ...
Target's 1Q profit drops 29 pct on weak sales
Target Corp. reported a 29 percent drop in first-quarter profit as unusually cool spring weather and financial pressures chilled customers' appetite for spending. The company, based in Minneapolis, also on Wednesday cut its annual profit outlook, sending its stock down. Target is the latest in a string of companies including ...
Am. Samoa to keep flier miles of govt travelers
American Samoa plans to take away frequent flier miles from government workers who travel on behalf of the U.S. territory and use the loyalty points to help medical patients and students travel off the islands when necessary. Hawaiian Airlines agreed to the plan that takes effect on June 1, American ...
Stocks fall on news Fed weighed cutting stimulus
The Federal Reserve took financial markets for a ride Wednesday, pushing stock prices up in the morning then sending them down in afternoon. Prices surged on congressional testimony by Fed chairman Ben Bernanke early in the day that suggested the central bank would not end its massive economic stimulus program ...
Lowe's 1Q profit rises, but results miss Street
Lowe's said Wednesday that its first-quarter net income rose nearly 3 percent, but results fell short of expectations as rainy weather hurt spring gardening sales. The No. 2 home improvement retailer's results stood in contrast to those reported a day earlier by Home Depot. Lowe's larger rival reported an 18 ...
A divided Fed wrestles with when to slow bond buys
The Federal Reserve is torn over when to slow its aggressive efforts to stimulate the economy. Its uncertainty burst into view Wednesday, when Chairman Ben Bernanke testified to Congress in the morning and the Fed in the afternoon released the minutes of its last policy meeting. Stock prices gyrated through ...
Key House chairman slams Senate immigration bill
A key House committee chairman on Wednesday sharply criticized a wide-ranging immigration bill just passed by a Senate committee, underscoring the difficulties ahead as the politically volatile measure moves forward in a divided Congress. Separately, a bipartisan House group that has been working behind the scenes to craft its own ...
Tesla uses stock, note sale to repay government
Electric car maker Tesla Motors says it has repaid a loan from the U.S. government nine years early. The company says it wired a $451.8 million payment to the government on Wednesday to retire a loan it received from the Department of Energy. The agency loaned Tesla $465 million in ...
FDA panel backs experimental Merck insomnia drug
A federal panel of medical experts says that an experimental insomnia drug from Merck & Co Inc. appears safe and effective, despite evidence from company trials that the pill can cause daytime sleepiness and difficulty driving. A majority of panelists on the Food and Drug Administration panel voted that Merck's ...
Vatican releases 1st report of financial watchdog
The Vatican took another step Wednesday to show greater financial transparency by publishing the first annual report from its financial watchdog agency and announcing new regulations to fight money laundering and terror financing. The report from the Financial Intelligence Authority showed the agency received six internal reports on suspicious transactions ...
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