EBay announced it will—at Carl Icahn's urging—appoint business executive David Dorman as an independent director. In exchange, Icahn said he'll back off.» Read More
SAN FRANCISCO/ NEW YORK, April 10- Carl Icahn backed off calls for eBay Inc to spin out its fast-growing PayPal payments unit on Thursday, after the billionaire investor failed to drum up support from the e-commerce company's major shareholders. Icahn withdrew his two nominees to eBay's board ahead of the company's annual meeting in May.
NEW YORK, April 10- Activist investor Carl Icahn has dropped his call for eBay Inc to split off its fast-growing PayPal payments unit but has suggested he would keep pressure on the e-commerce company.
NEW YORK, April 10- EBay Inc and Carl Icahn ended their proxy fight on Thursday as the activist investor dropped his proposal that the e-commerce company split off its PayPal payments unit and withdrew his two nominees for the eBay board.
Rite Aid has left the recovery ward and appears ready to break into a sprint after booking its sixth straight quarterly profit and making a deal to strengthen the drugstore chain's foothold in the burgeoning health clinic market.
Toyota, GM recalls push US to near-record pace. DETROIT— Big U.S. recalls by General Motors and Toyota have put the auto industry on a record pace as companies try to avoid bad publicity and punishment from an increasingly aggressive government.
It's probably too early to say, but major retailers will be paying close attention to the sales numbers after CVS Caremark pulls tobacco from its shelves by October. CVS Caremark Corp. is part of a booming industry. In that same stretch since early February, shares of rivals Walgreen Co. and Rite Aid Corp. have surged as well.
NEW YORK— Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and the Nasdaq Stock Market:. Nokia Corp., up 36 cents to $7.58. China approved the sale of the communication company's mobile phone unit to Microsoft, removing one of the last major hurdles for the $7.3 billion deal.
CVS Caremark has finalized a $20 million settlement with the Securities and Exchange Commission over accusations that the company misled investors and used improper accounting to boost its performance several years ago.
The SEC, which announced the settlement on Tuesday, said CVS failed while marketing a $1.5 billion bond offering in September 2009 to disclose having recently lost significant Medicare and contract revenue streams in its pharmacy benefits manager business, including from the former Caremark Rx Inc that it bought in March 2007.
April 8- CVS Caremark Corp agreed to pay $20 million to settle U.S. Securities and Exchange Commission charges that it misled investors about significant financial setbacks and used improper accounting to artificially boost its results. The Woonsocket, Rhode Island- based company did not admit or deny wrongdoing in agreeing to settle.
In the short term, that is expected to benefit larger global competitors, such as Teva Pharmaceutical Industries Ltd, Actavis Plc and Mylan Inc, which will be called upon to supply drugs no longer available from some of their rivals in India, they said.
The group sent a letter on Sunday to chief executive officers of Wal-Mart Stores Inc, supermarket operators Kroger Co, Safeway Inc, which operate pharmacies, and drugstore chains Walgreen Co and Rite Aid Corp.. Wal-Mart, Walgreen, Rite Aid and Kroger all said they were reviewing the letter, while Safeway did not respond to requests for comment.
The companies receiving a letter on Sunday from the group were Wal-Mart Stores Inc, supermarket operators Kroger Co, Safeway Inc, which operate pharmacies, and drugstore chains Walgreen Co and Rite Aid Corp..
BOSTON, March 17- Big U.S. companies appear to have handed out smaller increases in compensation to their chief executives in 2013 than in 2012, mainly as a result of reduced grants of stock options, according to an early review of annual regulatory filings.
March 13- Retailer Dollar General Corp reported lower-than-expected sales for the holiday quarter on Thursday, blaming weak consumer confidence among its low-income shoppers, cold weather and aggressive competition.
March 6- Safeway Inc, the second-largest U.S. mainstream grocery store operator, said private equity firm Cerberus Capital Management would acquire the company in a deal valued at about $9.4 billion. The offer price of $40 per share represents a premium of 1.3 percent to Safeway's Thursday closing stock price of $39.47 on the New York Stock Exchange.
Shoppers are visiting fewer stores than they did in the past, increasing the importance of building a loyal customer base.
A recent acquisition shows how bedroom novelties have aroused the interest of private equity firm Brookstone Partners.
U.S. stocks rose on Tuesday as Federal Reserve Chair Janet Yellen stressed Fed continuity.
NEW YORK, Feb 11- Wall Street rose for a fourth straight session on Tuesday as Congress agreed to advance legislation extending U.S. borrowing authority and the Federal Reserve's new chief held off from making any changes to its schedule for trimming stimulus.