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The yen rose broadly after a fall in industrial conglomerate General Electric's quarterly earnings stoked fears about the health of the US economy, causing investors to dump riskier trades.
GE reported first quarter earnings of $0.44, below the $0.51 consensus and $0.50-$0.53 guidance. Full year guidance was cut to $2.20-$2.30 from $2.42. Down 11 percent pre-open. This was the biggest miss most analysts can remember; certainly the biggest miss in over a decade.
GE announced today first quarter 2008 earnings from continuing operations of $4.4 billion with $.44 per share, down 8% from first quarter 2007. First quarter 2008 net earnings were $4.3 billion or $.43 per share, down 2% from first quarter 2007. First quarter revenues from continuing operations were $42.2 billion, up 8%.
European stocks ended down 1.4 percent on Friday, their biggest one-day drop since mid-March as a profit warning by General Electric rattled investors and cemented the view that the US economy was tipping into recession.
GE and the G7 -- two big stories for the markets Friday with the dollar as a common theme. First, General Electric releases earnings before the open.
Some say, “As goes GE so goes the economy.” With earnings due out Friday morning, what should you expect?
It's hard to get more diverse than General Electric: jet engines, high finance, even business news websites (i.e., this one). For that reason, its quarterly report gives an insightful look into how the rest of earnings season may turn out.
While passing the Olympic torch has become a focal point for demonstrations over China's human rights record, major sponsors of the games aren't expected to flame out over the controversy.
Dow Jones has created a Summer Games Index to track the companies involved in the Olympics. How is it reacting to the protests?
The news was not particularly good today, and so a modest drop was certainly a decent performance. Consider: 1) semis weak on AMD's poor guidance 2) materials mixed on Alcoa below estimates 3) Fed minutes full of concern about economic slowdown
Warren Buffett ranks number one on Directorship magazine's new list of the most admired board directors. Its Annual Survey of Exceptional Directors is compiled using "data from proxy firms, reader polls and governance experts."
Stocks finished flat Monday as traders opted to pull over and let some of the earnings traffic pass before deciding what to do next.
Earnings season kicked off Monday, and investors are bracing for some fairly ugly results, especially in the beaten-down financial sector.
Protests about China's human rights record are slowing the progress of the Olympic flame. But they're not slowing NBC's ad sales for the big sports and television event this summer. NBC Universal CEO Jeff Zucker says that the company has sold 75 percent of its ad inventory for its Olympics broadcast and that pricing has been "incredibly strong."
On Wednesday the National Hockey League Playoffs start, just as the league launches a new online digital network. The new seven-channel digital network on its web site makes it easy to flip channels (just like on TV) to navigate an unprecedented amount of hockey-related content.
Companies in the Standard & Poor's 500 index bought a record $589 billion of their own stock in 2007 as they looked for ways to spend their cash hoards, S&P said Monday.
Stocks advanced Monday, helped by financials, after some encouraging news that suggests banks may be getting their act together.
As investors come to terms with the fact that the U.S. economy is either in or heading toward a recession, Wall Street is bracing for earnings season, which kicks off Monday with Alcoa.
Stocks opened higher Monday, led by financials, after some encouraging news that suggests banks may be getting their act together.
George Clooney's "Leatherheads" failed to make a touchdown at the weekend box office, losing the top spot to reigning champ "21." The estimated score: Leatherheads--$13.5 million, 21--$15.1 million.