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John Rogers, President and CEO of CFA talks the importance of creating a professional standard in the financial industry.
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May 21- Best Buy Co Inc reported weaker-than-expected quarterly sales on Tuesday and warned that a slew of investments to win back shoppers could squeeze profits in the near term. Net earnings from continuing operations fell to $97 million, or 29 cents a share, from $169 million, or 49 cents a share a year earlier.
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May 21- Saks Inc on Tuesday reported higher than expected first-quarter sales, but it warned that investments to launch an e-commerce site for its outlet chain would weigh more on profits than expected. Saks reported a profit of $20 million, or 13 cents per share, for the quarter ended May 4, versus a year-earlier profit of $32.1 million, or 18 cents per share.
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MEMPHIS, Tenn.-- AutoZone's third-quarter net income rose 7 percent, as acquisition costs fell and sales improved. Revenue for the Memphis, Tenn., company increased 5 percent to $2.21 billion from $2.11 billion. AutoZone Inc. had 5,109 stores worldwide at the quarter's end.
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May 21- Best Buy Co Inc reported weaker-than-expected quarterly sales on Tuesday and warned that a slew of investments to win back shoppers could squeeze profits in the near term. Net earnings from continuing operations fell to $97 million, or 29 cents a share, from $169 million, or 49 cents a share a year earlier.
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May 21- Home Depot Inc reported higher-than-expected quarterly results and boosted its sales and profit outlook for the year as the world's largest home improvement chain benefited from a nascent recovery in the U.S. housing market.
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May 21- A nascent recovery in the housing market helped Home Depot Inc report higher quarterly sales and earnings on Tuesday, prompting the world's largest home improvement chain to boost its sales outlook for the year. Net earnings rose to $1.2 billion, or 83 cents a share, in the first quarter ended on May 5 from $1 billion, or 68 cents a share, a year earlier.
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HIGHLAND HEIGHTS, Ky.-- General Cable Corp. said Monday that it will issue a quarterly dividend of 18 cents per share in June, the wire and cable maker's first payout since 2002..
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PHILADELPHIA-- Urban Outfitters Inc.' s fiscal first-quarter profit increased 39 percent due to stronger sales and fewer markdowns on clothing. The company, based in Philadelphia, operates the Urban Outfitters, Anthropologie, Free People, BHLDN and Terrain brands.
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NEW YORK, May 20- Freeport-McMoRan Copper& Gold Inc took a big step on Monday in its plan to expand into energy, when Plains Exploration& Production Co shareholders approved the miner's $6 billion takeover deal, sweetened by two special dividends.
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Thousands of Connecticut commuters faced delays and crowded trains on Monday as Metro-North workers scrambled to repair damage on the United States' busiest rail line.
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Among the earnings stories for Monday, May 20, from AP Business News:. _ Campbell Soup Co. reported third-quarter results that beat Wall Street expectations as a colder winter and better ads helped boost soup sales, offsetting a decline in its V8 drinks.
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SANTIAGO, May 20- Banco de Chile, the country's leading lender, is tempering its enthusiasm for the small, export-dependent economy as it sees signs of a slowdown in demand for corporate and consumer loans, its chief executive said.
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WASHINGTON _ Senate Finance Committee hearing on the Internal Revenue Services and the increased scrutiny of certain tax-exempt groups. Best Buy Co. Inc. reports quarterly financial results. The Home Depot Inc. reports quarterly financial results.
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PORTLAND, Ore.-- Umpqua Holdings is raising its quarterly dividend by 50 percent to 15 cents per share and also plans to pay a special dividend.
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NEW YORK-- Target Corp.' s first-quarter financial results Wednesday should offer insight into how its shoppers are grappling with a payroll tax and other financial issues.
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SUGAR LAND, Texas-- Team Inc. is cutting its fourth-quarter earnings forecast, citing a lower-than-expected profit margin. Team now anticipates fourth-quarter earnings between 52 cents and 60 cents per share. Its prior outlook was for 69 cents to 84 cents per share.
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NEW YORK, May 20- Freeport-McMoRan Copper& Gold Inc and Plains Exploration& Production Co together sweetened the miner's roughly $6 billion takeover bid for Plains by offering to pay two special dividends if shareholders approve the deal.
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Goldman Sachs is selling about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China, the world's biggest bank.
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GE Capital, the financial arm of industrial giant General Electric, will return $6.5 billion worth of dividends back to its parent company over the course of the year.
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FAIRFIELD, Conn.-- General Electric Co. said Monday that it will receive $6.5 billion in dividends from its finance arm this year as the conglomerate works on reducing the size of its GE Capital financial arm.