John Rogers, President and CEO of CFA talks the importance of creating a professional standard in the financial industry.» Read More
May 22- Staples Inc reported a slightly lower-than-expected quarterly profit on Wednesday, hurt by a stronger dollar and weak sales in Europe and Australia.
May 22- Toll Brothers Inc posted a 46 percent rise in quarterly profit as the largest U.S. luxury homebuilder sold more homes at higher prices, indicating that the housing recovery is spreading across the industry.
May 22- Lowe's Cos Inc reported a weaker-than-expected quarterly profit on Wednesday, hurt by colder-than-usual weather at the start of the spring selling season and strong competition from larger rival Home Depot Inc.
John Rogers, President and CEO of CFA talks the importance of creating a professional standard in the financial industry.
SAO PAULO, May 21- Spanish telecoms group Telefonica SA has put on hold plans to publicly list its Latin America unit, a senior executive said on Tuesday, but an IPO could be ready within a few months if the need arose.
Among the earnings stories for Tuesday, May 21, from AP Business News:. _ The TJX Cos., the parent company of TJ Maxx and Marshalls clothing stores, said that its fiscal first-quarter net income rose 8 percent to match Wall Street predictions.
DETROIT-- Tesla Motors fell more than 5 percent in early trading Tuesday, a brief decline amid huge gains this month after the electric car maker posted its first quarterly profit. Tesla's stock price had jumped 74 percent between May 8, when first-quarter earnings were announced, and May 14, when it hit a 52- week high of $97.12.
Among the earnings stories for Tuesday, May 21, from AP Business News:. _ Best Buy Co., the electronics retailer, reported a loss for its fiscal first quarter as it sold its stake in Best Buy Europe and works on a turnaround plan that includes cutting costs and closing some stores.
NEW YORK-- Hhgregg Inc.' s shares tumbled Tuesday after the electronics and appliance retailer reported a slightly better-than-expected fiscal fourth-quarter profit, but its revenue fell well short of Wall Street predictions. THE SPARK: Hhgregg said late Monday that it earned $9.9 million, or 31 cents per share.
MINNEAPOLIS-- Medtronic shares rose 5 percent Tuesday after the company reported better-than-expected fourth quarter earnings on sales of implantable heart defibrillators and pacemakers. "With our scale and breadth of innovative technology, Medtronic is clearly outperforming the market," said CEO Omar Ishrak, in a statement.
HOUSTON-- Bristow Group Inc., which flies helicopters for energy companies, said Tuesday that it will raise its quarterly dividend by 5 cents, or 25 percent, to 25 cents. The dividend will be paid June 14 to all stockholders on May 31. Shares slipped 37 cents to $67.52 in midday trading.
GREENWOOD VILLAGE, Colo.-- Red Robin Gourmet Burgers Inc.' s fiscal first-quarter net income dropped 10 percent, hurt by lower customer traffic.
NEW YORK-- Standard& Poor's Ratings Services is lowering the rating it gave J.C. Penney's term loan further into junk status because the struggling department store operator boosted the loan's size. J.C. Penney Co. increased the size of the term loan to $2.25 billion from $1.75 billion.
May 21- Best Buy Co Inc reported weak quarterly sales on Tuesday and warned that a slew of investments to entice shoppers could squeeze profits in the near term. Excluding restructuring and other charges but including Europe, it earned 36 cents a share, beating the analysts average estimate of 25 cents, according to Thomson Reuters I/B/E/S.
May 21- TJX Cos Inc, owner of the low-price T.J. Maxx and Marshalls chains, reported a higher first-quarter profit, and forecast more sales growth in the current quarter.
May 21- Best Buy Co Inc reported weak quarterly sales on Tuesday and warned that a slew of investments to entice shoppers could squeeze profits in the near term. The results showed that Best Buy might need to cut more costs to be able to compete more effectively with the likes of Wal-Mart Stores and Amazon.com.
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.
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.
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.