HOUSTON— A Texas man used social media to promote his gun store, posting politically charged messages that criticized the president and promoted Second Amendment rights. But after losing ownership of his suburban Houston store in bankruptcy, Jeremy Alcede spent nearly seven weeks in jail for refusing a federal judge's order to share with the new owner the...» Read More
Feb 5- Michael Kors Holdings Ltd forecast a lower-than-expected profit for the current quarter as heavy discounting and increased promotions weigh on the luxury accessories retailer's margins. Analysts have expressed concerns about Michael Kors' recent spike in discounting and promotions, in contrast to rivals Coach Inc and Kate Spade& Co..
*Pfizer to buy Hospira for about $15 billion. *Twitter gains after Bloomberg reports deal with Google. *Pfizer said it would buy Hospira Inc for about $15 billion to gain access to its biosimilars.
Feb 5- Cummins Inc, a maker of diesel engines, reported an 11 percent rise in quarterly revenue, helped by strong demand from North America. Sales rose to $5.09 billion in the fourth quarter ended Dec. 31, from $4.59 billion a year earlier. Net income attributable to Cummins rose to $444 million, or $2.44 per share, from $432 million, or $2.32 per share.
LONDON, Feb 5- British specialist risk insurer Pioneer Underwriters has launched insurance to enable alternative fund managers such as hedge funds to comply with European Union regulations, it said on Thursday. The EU's Alternative Investment Fund Managers' Directive was fully implemented last year and requires alternative fund managers that market...
Feb 5- Nu Skin Enterprises Inc, a direct seller of anti-ageing and nutritional products, reported a near 63 percent drop in quarterly profit as revenue more than halved in Greater China, its largest market. Nu Skin's net income fell to $46.5 million, or 77 cents per share, in the fourth quarter ended Dec. 31, from $125.3 million, or $2.02 per share, a year earlier.
KIEV, Feb 5- Ukraine's Central Bank cut the official rate of the hryvnia on Thursday, partly tracking a sharp fall in the indicative value of the local currency after the bank scrapped dollar auctions earlier in the day. It cut the official rate against the dollar- based on deals on the interbank market- by 6.8 pct to 17.9998 from 16.7289 a day earlier, the most...
Feb 5- Estee Lauder Cos Inc reported a better-than-expected rise in quarterly revenue, helped by higher demand for its skin care and makeup products during the holiday season. Net income attributable to the company rose to $435.7 million, or $1.13 per share, in the second quarter ended Dec. 31, from $432.5 million, or $1.09 per share, a year earlier.
TEL AVIV, Feb 5- Teva Pharmaceutical Industries reported quarterly profit that met analysts' estimates on Thursday and reaffirmed its earnings forecast for the full year. Teva, the world's largest generic drugmaker and Israel's biggest company, earned $1.31 per diluted share excluding one-time items in the fourth quarter, compared with $1.42 a year earlier.
Feb 5- Drugmaker Pfizer Inc said it would buy Hospira Inc for about $15 billion to gain access to biosimilars, copies of biotech drugs made from living cells. Pfizer's offer of $90 per share represents a premium of 39 percent to Hospira stock's close on Wednesday. Hospira was trading at $88 before the bell, while Pfizer was up 1.7 percent.
SAN FRANCISCO, Feb 5- Crosslink Capital, the San Francisco investment firm behind companies such as sports blog Bleacher Report and music service Pandora, said it had raised $170 million for a new venture fund, its seventh. Its previous venture fund, Crosslink VI, raised $220 million in 2010. Partner Eric Chin said the firm planned to invest Crosslink VII more at...
Feb 5- Sprint Corp's quarterly revenue fell 1.8 percent as the U.S. mobile provider struggles to reverse a decline in its subscriber base by cutting prices and offering promotions. Sprint's net loss more than doubled to $2.38 billion, or 60 cents per share, in the three months ended Dec. 31 from $1.04 billion, or 26 cents per share, a year earlier.
Feb 5- Dunkin' Brands Group Inc reported better-than-expected quarterly sales, helped by demand for sandwiches and its newly launched dark roast coffee at Dunkin' Donuts outlets in the United States. Dunkin' Brands, which operates almost entirely through franchises, said comparable sales rose 9.3 percent at its Baskin-Robbins outlets in the United States.
LONDON, Feb 5- The euro rose strongly across the board on Thursday, gaining more than 1 percent against the Swiss franc, as traders speculated that the Swiss National Bank was again buying euros in order to weaken the franc. Having fallen around two U.S. cents late on Wednesday after the European Central Bank said it would no longer accept Greek bonds in return for...
Feb 5- Luxury accessories retailer Michael Kors Holdings Ltd reported a 31 percent jump in quarterly sales as demand for its trendy clutch bags and watches soared in North America during the holiday shopping season. The company's net income rose to $303.7 million, or $1.48 per share, in the quarter ended Dec. 27 from $229.6 million, or $1.11 per share, a year earlier.
Feb 5- Beverage can maker Rexam Plc said it was in talks to be potentially bought by U.S. rival Ball Corp in an offer that values the company at about 4.29 billion pounds. The offer from Ball Corp, which like Rexam controls about 21 percent of the market for beverage cans, values Rexam at 610 pence per share, a 36 percent premium to the stock close on Wednesday.
Feb 5- Drugmaker Pfizer Inc said it would buy Hospira Inc for about $15 billion to gain access to its biosimilars. The offer of $90 per share represents a premium of 39 percent to Hospira stock's close on Wednesday. The total enterprise value of the deal is about $17 billion, the companies said.
*Ukraine's economy hit by conflict in the east. *IMF mission has extended visit as Kiev seeks loans. KIEV, Feb 5- Ukraine's central bank announced on Thursday a big increase in its main interest rate to 19.5 percent to try to avert financial collapse, brought ever closer by fighting in the country's east and a lack of foreign funding.
The company's adjusted net profit rose to $172 million, or $1.29 per share, in the fourth quarter ended Dec. 31, from $110 million, or 81 cents per share, a year earlier.
FRANKFURT, Feb 5- German carmaker Daimler said on Thursday the low interest rate environment may force it to invest more in its German pension plan, after it made a 2.5 billion euros payment in the fourth quarter to cover a funding shortfall. The policy of maintaining low interest rates in Europe is making it harder for companies to earn a return from assets they...
LONDON, Feb 5- The Bank of England kept interest rates at a record low once again on Thursday, leaving investors waiting another week for an update on when they should expect borrowing costs to rise. Britain's plunging inflation rate and the likelihood that it will soon turn negative prompted two dissident BoE rate-setters to give up calling for an immediate...