NEW YORK— IBM disappointed investors Monday, reporting weak revenue growth again and a big charge to shed its costly chipmaking division as the tech giant tries to steer its business toward cloud computing and social-mobile services. Is it too late for IBM? Remaking itself is something IBM has done many times through its long history.
GROVELAND, N.Y.— A western New York company has received permission to extend a rail line at its massive salt mine, a move that was opposed by two Seneca Indian nations. The Democrat and Chronicle of Rochester reports that the required permit from the U.S. Army Corps of Engineers has been authorized. American Rock Salt had been seeking approval to extend its rail...
*Wet Seal names Edmond Thomas chief executive. Wet Seal said it had replaced CEO John Goodman with former CEO Edmond Thomas. Thomas, 61, was Wet Seal's CEO from 2007 to 2011 and its chief operating officer from 1992 to 2000. He was most recently a partner at private investment firm KarpReilly LLC and is on the board of women's apparel retailer New York& Co Inc..
Thomas, 61, was Wet Seal's CEO from 2007 to 2011 and the company's chief operating officer from 1992 to 2000. He was most recently a partner at private investment firm KarpReilly LLC and is on the board of women's apparel retailer New York& Co Inc.
April 29- Coach Inc reported a sharp drop in North American sales on Tuesday as the upscale leather goods maker continued to lose ground to fast-growing rivals in the competitive handbags market.
It's hard to drown out all the negative noise coming from the retail sector this year, but not everyone had a bad holiday.
Check out which companies are making headlines after the bell Thursday:
NEW YORK-- Hess Corp. nearly doubled its third quarter profits as the company resumed operations in Libya and ramped up production in giant Bakken shale play. The New York company breezed past Wall Street expectations and shares rose 4 percent in early trading.
NEW YORK-- HMS Holdings Corp.' s shares shed nearly a quarter of their value Friday after the medical information company said its third-quarter earnings dropped 27 percent on higher costs. The New York company earned $10.5 million, or 12 cents per share, in the three months that ended Sept. 30.
NEW YORK-- Travelzoo's third-quarter net income fell 42 percent due to declining sales on its airline search site.
NEW YORK-- Blackstone Group LP said Thursday that it returned to a profit in the third quarter as fees jumped. The New York company reported net income of $128.8 million, or 24 cents per common union, in the July-September quarter, compared with a loss of $274.6 million, or 56 cents per unit, a year earlier.
Travelers Cos. said Thursday that its net income jumped to $864 million, or $2.21 per share, for the three months ended Sept. 30. That compares with net income of $333 million, or 79 cents per share, in the same period last year. Investors sent shares in the New York company up $2.45, or 3.4 percent, to $73.83 in afternoon trading.
LOS ANGELES-- American Express Co. said Wednesday that its net income rose 1 percent in the third quarter, aided by lower expenses and increased spending by the credit card issuer's customers. In the second quarter, American Express' revenue grew 5 percent from a year earlier.
NEW YORK-- Advertising and marketing company Omnicom Group Inc. reported nearly flat earnings and revenue compared with a year earlier, as U.S. revenue grew but international revenue declined. Omnicom had fewer outstanding shares in the latest quarter, which increases earnings per share. He rates Omnicom "Hold" with a target price of $45.
NEW YORK-- Delcath Systems Inc. says its potential treatment for a form of liver cancer has been accepted by the Food and Drug Administration for a standard review. Delcath submitted its application on Aug. 15. Shares of Delcath fell 22 cents, or 10.5 percent, to $1.87 in premarket trading Monday.
NEW YORK-- Travelzoo's stock dropped to the lowest level in more than two years on Friday as the online travel company predicted that its third-quarter profit would shrink about 40 percent from a year ago. Travelzoo faces tough competition from other online travel companies such as Expedia Inc. and Priceline.com Inc..
NEW YORK-- MetLife rolled out an asset management business focused on real estate and private-placement debt, hoping to draw yield-starved institutional investors to areas where it already has considerable experience.
The company said Tuesday that Tommy Hilfiger is doing particularly well in North America and that its planned turnaround of the Heritage Brands wholesale businesses is going better than expected. For the third quarter, PVH Corp. now anticipates adjusted earnings of $2.28 to $2.30 per share.
NEW YORK-- Shares of Goldman Sachs Monday rose after an article posted on the website of Barron's magazine predicted that the investment bank's stock could climb at least 25 percent over the next year. Barron's said that Goldman Sachs Group Inc. came away from the 2008 financial crisis better than any of its rivals.
NEW YORK-- Shares of Goldman Sachs Monday after an article posted on the website of Barron's magazine predicted that the investment bank's stock could climb at least 25 percent over the next year. Barron's said that Goldman Sachs Group Inc. came away from the 2008 financial crisis better than any of its rivals.