Pall posts 20% higher profit
By MarketWatch on March 11, 2010
SAN FRANCISCO (MarketWatch) — Pall Corp. , citing strong bio-pharmaceuticals demand for its filtration systems, reported late Thursday fiscal second-quarter 2009 net income rose to $46.9 million, or 42 cents a share, from $38.9 million, or 33 cents, a year ago. Revenue for the three months ended Jan. 31 rose 3.2% to $560.4 million from [...]
Posted in Markets
Pfizer says two breast cancer drug studies fail
By MarketWatch on March 11, 2010
SAN FRANCISCO (MarketWatch) — Pfizer Inc. said late Thursday two late-stage studies of an approved kidney cancer drug failed to treat breast cancer significantly, and that it will also halt an unpromising late-stage study of a lung cancer drug. The drugmaker said two studies following the kidney cancer drug Sutent failed to show a [...]
Posted in Markets
Aeropostale posts 42% higher profit
By MarketWatch on March 11, 2010
SAN FRANCISCO (MarketWatch) — Teen retailer Aeropostale late Thursday reported fourth-quarter net income of $96.6 million, or 99 cents a share, up from $68.2 million, or 67 cents a share, in the year-ago period. Sales rose 16% to $801.2 million. Analysts were expecting 87 cents a share on sales of $795 million, according to [...]
Posted in Markets
Smith & Wesson third-quarter profit flat
By MarketWatch on March 11, 2010
SAN FRANCISCO (MarketWatch) — Smith & Wesson Holding Corp. said late Thursday that its fiscal third-quarter profit was virtually flat at $2.4 million, or 4 cents a share, compared with $2.4 million, or 5 cents a share, in the year-ago period. Excluding one time items from the gun maker’s acquisition of Universal Safety Response, [...]
Posted in Markets
Pacific Sunwear posts wider loss
By MarketWatch on March 11, 2010
SAN FRANCISCO (MarketWatch) — Pacific Sunwear of California on Thursday reported a fourth-quarter loss of $36 million, or 56 cents a share, vs. a loss of $27 million, or 42 cents a share, a year ago. Excluding one-time items, the loss would have come in at 26 cents a share. Total sales fell 17% [...]
Posted in Markets
National Semi posts a higher profit
By MarketWatch on March 11, 2010
SAN FRANCISCO (MarketWatch) – National Semiconductor on Thursday reported a third-quarter profit of $53.2 million, or 22 cents a share, compared with a profit of $21.1 million, or 9 cents a share for the year-earlier period. Revenue was $361.9 million, up from $292.4 million for the same quarter the previous year. For the current [...]
Posted in Markets
U.S. stocks up for 3rd day as banks rally
By MarketWatch on March 11, 2010
NEW YORK (MarketWatch) — U.S. stocks on Thursday finished higher for a third day after a late-session move led by financials that came with Citigroup Inc. declaring itself on its way to sustainable profitability. The Dow Jones Industrial Average added 44.51 points, or 0.4%, to 10,611.84. The S&P 500 Index gained 4.63 [...]
Posted in Markets
Dodd: There isn’t much time left for bank reform
By MarketWatch on March 11, 2010
WASHINGTON (MarketWatch) — Senate Banking Committee Chairman Christopher Dodd on Thursday justified his decision to move forward and introduce a bank reform bill on Monday most likely without Republican support, arguing that there isn’t much time left in 2010 to pass the sweeping legislation. “I don’t have a lot of time left in this [...]
Posted in Markets
Citi CEO: goverment may be mulling Citi stock sale
By MarketWatch on March 11, 2010
SAN FRANCISCO (MarketWatch) — The U.S. government may be considering selling the Citigroup Inc. shares it owns, Chief Executive Vikram Pandit said Thursday. The government owns 27% of Citi and the Treasury Department said a couple of months ago that it planned on selling the stake over the next 12 months. A lockup on [...]
Posted in Markets
Goldman’s Flamand to start own hedge fund: report
By MarketWatch on March 11, 2010
SAN FRANCISCO (MarketWatch) — The head of Goldman Sachs Group Inc.’s largest hedge fund, Pierre-Henri Flamand, is leaving to start his own fund, Bloomberg News reported Thursday, citing three unidentified sources close to the matter. Flamand, 39, reportedly has the support of Goldman Sachs for the move. Since 2007, Flamand headed Goldman Sachs Investment [...]
Posted in Markets
Northrop sees work slowdown at Maryland plant
By MarketWatch on March 11, 2010
SAN FRANCISCO (MarketWatch) — Northrop Grumman Corp. said Thursday that it expects to a see a lull in work at its maintenance and
modification center in Hagerstown, Md. About 180 employees will be affected. Northrop said it expects to complete current projects in mid-June, and hopes to get new projects at the center by early [...]
Posted in Markets
Copper, gold end with slight gains
By MarketWatch on March 11, 2010
NEW YORK (MarketWatch) — Copper futures finished with slight gains on Thursday, receiving a boost after Chile, the world’s largest producer of the metal, was hit by aftershocks to last month’s earthquake. Copper for May delivery rose 1.2 cents, or 0.4%, to end at $3.38 a pound at the New York Mercantile Exchange. The contract [...]
Posted in Markets
Citi CFO: further share dilution to be limited
By MarketWatch on March 11, 2010
SAN FRANCISCO (MarketWatch) — Citigroup Inc. Chief Financial Officer John Gerspach said Thursday that future dilution for the bank’s shareholders should be limited. The bank’s share count is currently about 28.5 billion shares, after huge capital raises last year. Several years ago, there were less than 6 billion shares outstanding, Gerspach noted. “The odds [...]
Posted in Markets
Citi CEO: local consumer lending losses covered
By MarketWatch on March 11, 2010
SAN FRANCISCO (MarketWatch) — Citigroup Inc. Chief Executive Vikram Pandit said Thursday that the banking giant should be able to cover future credit losses in its troubled Local Consumer Lending businesses. There are “early signs of improvement” in the Local Consumer Lending, or LCL, businesses, he noted. LCL also has roughly $27 billion of [...]
Posted in Markets
Treasury sees strong demand at sale of 30-yr debt
By MarketWatch on March 11, 2010
NEW YORK (MarketWatch) — The Treasury Department sold $13 billion in 30-year bonds at a yield of 4.679% on Thursday, finishing up a week of auctions. Bidders offered to buy 2.89 times the amount of debt sold, the highest since September and better than the average of 2.61 times at the last four comparable [...]
Posted in Markets
U.S. households increase Treasury holdings: Fed
By MarketWatch on March 11, 2010
NEW YORK (MarketWatch) — U.S. households increased their holdings of Treasury securities to the highest level in at least two years, according to data released by the Federal Reserve on Thursday. Households held $795.2 billion in Treasurys at the end of the fourth quarter of 2009, up from $735.5 billion in the third quarter, as [...]
Posted in Markets
Nstar, Medtronic, RenRe add to bevy of debt sales
By MarketWatch on March 11, 2010
NEW YORK (MarketWatch) — Nstar, Medtronic Inc. and RenRe had joined the stampede of companies issuing debt this week, as over the past three days, investment grade companies have sold $25.8 billion in debt, according to Informa Global Markets. Nstar , an electric- and gas-utility company, is selling $300 million in 30-year bonds, Action Economics [...]
Posted in Markets
U.S. debt grows at slowest pace on record
By MarketWatch on March 11, 2010
WASHINGTON (MarketWatch) – U.S. debt grew at the slowest pace on record during the fourth quarter, as households and businesses continued to deleverage, nearly offsetting another huge increase in federal debt, according to the quarterly flow of funds report released Thursday by the Federal Reserve. With businesses cutting their outstanding debt the most since 1991, [...]
Posted in Markets
Dodd plans to release bank reform bill Monday
By MarketWatch on March 11, 2010
WASHINGTON (MarketWatch) – Senate Banking Committee Chairman Christopher Dodd plans to introduce a revised version of sweeping bank reform legislation on Monday, according to a statement from the Connecticut senator’s office on Thursday. Dodd had hoped to release a bipartisan bill, but in his statement Dodd indicated that he was unable to do so. “It [...]
Posted in Markets
Retail stocks fall; Bed, Bath & Beyond cut by FBR
By MarketWatch on March 11, 2010
NEW YORK (MarketWatch) — Retail stocks fell Thursday, led by Bed, Bath & Beyond Inc. , after the home-furnishings retailer was cut to underperform from market perform by FBR Capital Markets. The S&P Retail Index fell 0.3% to 435.05. Bed, Bath & Beyond dropped 1.7%. Men’s Wearhouse Inc. declined 5.2% after the men’s [...]
Posted in Markets
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