SAN JUAN, Puerto Rico— Procter& Gamble Co. says it is closing a manufacturing plant in Puerto Rico and laying off some 230 employees. Officials said the company will move operations to a plant in North Carolina as part of an overall restructuring. Procter& Gamble manufactures Olay skin care products at the Cayey plant, which it bought in 1985..» Read More
Beazer Homes USA said it has received a grand jury subpoena from the U.S. Attorney's Office, which is seeking documents relating to it mortgage origination business.
Rentokil Initial, whose services range from catering to pest control, said on Friday it received a 595 million pounds ($1.2 billion) offer from U.S. conglomerate United Technologies Corporation for its Initial Electronic Security Group.
Sometimes, a good old-fashioned split-up is just what a company needs. Cramer identifies two big players that he thinks would benefit from cleaning house and selling off some of their undervalued brands. Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
Beazer Homes USA , the sixth-largest U.S. home builder, on Wednesday confirmed it is cooperating with federal prosecutors in a probe relating to its mortgage business. Beazer's shares were off 12% in premarket electronic trading after earlier falling 18% to their lowest level since August 2003.
LG Electronics said Wednesday it has reached an agreement with Google to offer the leading online search engine's products on its mobile phones.
U.S. authorities are investigating the lending practices and some other dealings at Beazer Homes USA, one of the largest U.S. home builders. Beazer's stock fell nearly 17% in after-hours trading.
Stocks closed lower after a new warning from the housing industry kept buyers out of the market. "Even though we may test the lows just because some short-term investors may get out of the way, this market has been really good shape," said Richard Steinberg, president and chief investment officer at Steinberg Global Asset Management. "If we pull back, investors should be reassessing their portfolios and looking to pick up bargains."
A senior U.S. Federal Reserve staff member warned on Tuesday that subprime mortgage market troubles could last as long as two years, while a leading home builder posting a huge profit plunge blamed subprime lending problems for worsening a soft housing sector.
CNBC’s Scott Wapner has a rough life: He’s at the Tavistock Cup in Orlando, Fla. and calling it work.
Lennar said first-quarter profit tumbled 73% on continued softness in the housing market, and warned it doesn't expect to meet its 2007 earnings forecast. "While some markets are performing better than others, the typically stronger spring selling season has not yet materialized," President and Chief Executive Stuart Miller said in a statement.
Furniture maker and retailer Ethan Allen Interiors forecast quarterly earnings below analysts' expectations on Monday, citing a challenging economic environment for home furnishings retail.
The president of struggling electronics maker Sanyo Electric, Toshimasa Iue, will likely step down in April to take responsibility for poor earnings and accounting troubles, Japanese media reported on Tuesday, a week after Sanyo's chairwoman resigned.
Consumer products maker Kimberly-Clark said on Monday that first-quarter earnings should meet or slightly exceed its prior outlook, driven by growth in developing and emerging markets and higher sales of its baby and child-care products in North America
U.K. housebuilder Taylor Woodrow has agreed to buy rival George Wimpey for 2.5 billion pounds ($4.9 billion) to create a market leader in Britain and combine businesses in a tough U.S. housing market.
Office supplies maker Avery Dennison said on Thursday it would buy clothing label maker Paxar for $1.3 billion, in a bid to expand in the fragmented retail information and brand identification market. 1st paragraph of story should go here
Kraft Foods, the largest North American food maker, will join the Standard & Poor's 500 stock index after the close of trading on March 30.
Samsung Electronics expects LCD TV panel prices to fall further in the second half of the year and PC panel prices to stabilize before starting to climb, continuing current trends.
Altria Group said its shareholders will receive 0.692024 of a Kraft Foods share for each Altria share held as of the close of business on March 16 as it completes its spinoff of the largest North American food maker.
Electronic Arts, the world's biggest game publisher, said on Tuesday it would buy a stake in South Korea's Neowiz for about $105 million and jointly develop games for Asian markets.
But P&G shares. which had been trading at all-time highs, fell as organic sales fell short of expectations and third-quarter earnings were estimated to be a bit weaker than expected