U.S. mutual funds with heavy exposure to Puerto Rico bonds have sold off some of the cash-strapped island's debt to meet investor redemption demands.» Read More
NEW YORK, Jan 19- A data breach at Target Corp that exposed the credit card information of tens of millions of holiday shoppers was a major black eye for the retailer.
*Expects fourth-quarter earnings/shr $1.25 vs est $1.43. *Sees 2013 earnings/shr $4.57 vs forecast $4.65- $4.85.
Jan 17- General Electric Co posted in-line overall quarterly earnings on Friday but disappointed investors by failing to meet its full-year profit margin goal due to delayed wind turbine deliveries and poor energy management results. Shares in the U.S. conglomerate fell 2.5 percent in morning trading to $26.52, against a broadly flat market.
Jan 15- A U.S. jury strengthened Edwards Lifesciences Corp's efforts to protect sales of the company's transcatheter heart valve implants, by ruling that a competing product from Medtronic Inc infringes its patent.
Jan 14- GameStop Corp, the world's largest videogame retailer, warned of lower-than-expected profit as sales sagged for games played on older versions of Xbox and PlayStation consoles. Morningstar analyst Liang Feng said too much of a drop in sales of old console software could hurt GameStop as it is historically the company's strongest business.
Jan 14- Intuitive Surgical Inc estimated fourth-quarter revenue higher than analysts' estimates as sales of its da Vinci surgical robot rose outside the United States. Intuitive estimated total revenue of $576 million in the quarter ended Dec. 31, higher than analysts' average forecast of $548.6 million, according to Thomson Reuters I/B/E/S.
NEW YORK, Jan 14- Exchange operator Nasdaq OMX Group and index provider S&P Dow Jones Indices said they are interested in acquisitions to grow their index businesses, in a sign the sector could see a wave of deals as investors pour tens of billions of dollars into portfolios that track benchmarks.
"I'm optimistic," said Diane Swonk, chief economist for Mesirow Financial in Chicago, who predicts three-percent GDP growth and the creation of up to three million jobs this year. "I haven't felt bullish in a long time," Swonk said at the annual economic outlook luncheon of the Executive Club of Chicago on Jan. 9.
*Nine out of 10 worst UK funds in 2013 focused on gold. It comes as no surprise then that nine of the 10 worst-performing funds in the UK in 2013, and six out of the 10 worst in the United States made bets on gold equities. At the top of that list is the Junior Gold fund, which lost almost 66 percent- a level that even its manager, Angelos Damaskos, describes as "eye-watering".
Jan 13- Lexicon Pharmaceuticals Inc said its chief executive would leave and it would cut its workforce by about 45 percent, as it moves its focus away from drug discovery to completing the studies of its drugs in late-stage development. The company said Arthur Sands, CEO since 1995 and a co-founder, intends to develop a succession plan with the board.
That idea has caught on, especially recently: In 2013, everyone from 401 providers to mom and pop embraced index funds, sending almost $2 into them for every $1 they invested in actively managed funds, according to Morningstar.
Jan 8- U.S. health regulators on Wednesday approved an AstraZeneca drug from a new class of medicines to treat type 2 diabetes after previously rejecting it over safety concerns. The medicine was co-developed by Bristol-Myers Squibb Co and AstraZeneca.
The company, which supplies shirts, trousers and other apparel for global retailers including Wal-Mart Inc, is one of the biggest players in Bangladesh's $22 billion garment industry that has seen orders cut nearly in half in the last three months- the worst drop in two decades, according to the Bangladesh Garment Manufacturers& Exporters Association.
NEW YORK, Jan 2- U.S. "There is a meaningful bearish sentiment in bonds right now, but we might see relief in the next few days," said Robbert Van Batenburg, director of market strategy at Newedge USA LLC in New York.
NEW YORK, Jan 2- The Pimco Total Return Fund, the world's largest bond fund, had a negative return for 2013 of nearly 2 percent, its first annual loss in 14 years, as fears of a reduction in the Federal Reserve's bond-buying sent Treasury prices lower, preliminary data from Morningstar showed on Thursday.
NEW YORK, Dec 30- Resolutions don't work- behavioral experts know that. When you wake up on Jan. 1 and emphatically say something vague like "This year, I am going to get my finances under control- I really mean it!" there's a good chance your budget will end up where all those good intentions usually lead.
BlackBerry said it hoped to expand the fledgling relationship to its top-of-the-line smartphones. The deal is unconventional in that BlackBerry will no longer pay upfront for components used in the devices made on its behalf in Foxconn's Indonesian and Mexican factories.
BlackBerry said it has entered a five-year partnership with Foxconn Technology Co Ltd to develop and manufacture handsets, starting with a low-end device built for Indonesia and other emerging markets. The deal means that BlackBerry will no longer pay upfront for components for devices produced by Foxconn on its behalf.
BlackBerry sold about 4.3 million handsets in the third quarter ended Nov. 30, including some shipped to suppliers earlier. Older BlackBerry 7 models account for about 3.2 million of the smartphones.
NEW YORK, Dec 19- Neuberger Berman Group LLC has launched its second mutual fund that employs external hedge fund managers to manage its assets, the New York- based investment firm said on Thursday.