SAN JOSE, Calif. _ Immersion Corp. on Thursday reported third-quarter profit of $1.1 million. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share. Analysts expected $13.1 million, according to Zacks.» Read More
DETROIT, May 29- Ford Motor Co said on Thursday it is recalling a total of 1.1 million SUVs in North America for the possible loss of power steering. Ford said 195,527 Explorer SUVs in North America from the 2011 to 2013 model years are to be recalled.
FOX NETWORK CHAIRMAN KEVIN REILLY TO STEP DOWN END OF JUNE- STATEMENT.
DETROIT, May 29- Ford Motor Co will recall 915,216 Ford Escape and Mercury Mariner SUVs in North America because of a possible loss of power steering, the company and U.S. regulators said on Thursday.
May 29- Alcoa Inc, the biggest U.S. aluminum producer, said it started work on a $100 million plant in Indiana to meet rising demand from large commercial aircraft makers. The new plant will create 329 jobs by 2019 and increase the company's capacity to supply engine parts for narrow-body aircraft, Alcoa said.
*More oil may be heading to China and Turkey. LONDON, May 29- Iran's crude oil exports increased in May after a decline in April, according to sources who track tanker movements, moving above the level allowed by November's interim deal on curbing Tehran's nuclear programme.
The FDA said it imposed the new requirements after deciding that tanning beds and booths that use ultraviolet lamps pose a moderate risk of causing skin cancer, up from the previous classification of low-risk.
NEW YORK, May 29- U.S. crude rose on Thursday after government data showed a sharp drop in gasoline stocks that outweighed a build in overall crude stocks, while Brent was buttressed by the loss of most supply from Libya and geopolitical risk in Ukraine.
GROUP LED BY MEDIA MOGUL DAVID GEFFEN SUBMITS BID OF MORE THAN $1.5 BLN FOR LA CLIPPERS- SOURCE.
CRUDE OIL FUTURES RISE MORE THAN $1 AFTER EIA REPORT SHOWS GREATER-THAN-EXPECTED GASOLINE STOCKS DRAW.
NEW YORK/ FRANKFURT, May 29- Germany's Deutsche Telekom AG is willing to keep a minority stake in a deal to sell T-Mobile US Inc to Japan's Softbank Corp, but other details such as price and financing remain to be worked out, according to sources familiar with the situation.
MOSCOW, May 29- Russia's biggest bank Sberbank said it may consider a government plan to boost banks' capital and lending, as it showed the impact of the Ukraine crisis on its bottom line with an 18 percent slide in profits and rising loan-loss provisions.
Casablanca, which wants to replace Cliffs' chief executive and separate the company's U.S. assets from its international properties, said on Thursday that Cliffs could defuse the problem by approving its nominees "not as an endorsement, but merely for the narrow purpose of not triggering the proxy put."
*Wheat heading for largest monthly decline since Sept 2011. Wheat futures have fallen sharply from the more than 10- month high they notched early this month amid a deep drought in the southern U.S. Wheat on a continuous chart was on track to shed about 11.5 percent this month for the worst such performance since September 2011.
May 29- Dazzled for two-and-a-half years, Wall Street finally blinked when Michael Kors Holdings Ltd warned that its margins might suffer from the cost of opening stores in Europe.
OTTAWA, May 29- Canada signaled on Thursday it is likely to make a decision in the next few weeks on whether to replace its aging CF-18 fighter jets with F-35 stealth fighters from Lockheed Martin Corp or hold an open competition among aircraft makers.
LONDON, May 29- GlaxoSmithKline has invited private equity firms to consider making offers for a range of its older drugs sold in Western markets, according to three people with direct knowledge of the matter. Private equity firms approached by GSK include Advent International, Blackstone and KKR, the sources said, and the drugmaker is being advised by Lazard.
*Hillshire jumps, Tyson's bid outshines Pilgrim's Pride's. "Personal consumption was actually revised up, it was a big number and it held," said Phil Orlando, chief equity market strategist at Federated Investors in New York, referring to details in the gross domestic product data released earlier in the day.
BUENOS AIRES, May 29- Shares in Argentine banks and state-run oil firm YPF jumped on Thursday on news of the country's landmark deal with the Paris Club on repaying overdue debt that helps Argentina put its 2001-2002 sovereign default behind it.
PNC Financial Services Group Inc, PHH Corp, MetLife Inc, Santander Holdings USA Inc and Citizens Financial Group Inc, the U.S. unit of Royal Bank of Scotland, have all disclosed in filings with the Securities and Exchange Commission that they've received subpoenas.
*First-quarter GDP revised to show contraction. WASHINGTON, May 29- The U.S. economy contracted for the first time in three years in the first quarter as it buckled under a severe winter, but there are signs it has rebounded and economists say it could grow as much as 4 percent in the current quarter.