Weekend data showed China's exports unexpectedly tumbled in February, with a near-20 percent year-on-year dip swinging the trade balance into deficit.» Read More
SAN RAMON, Calif.-- Chevron Corp. said Thursday that it found natural gas during exploratory drilling off the coast of western Australia. San Ramon- based Chevron's Australian subsidiary is operating the project and owns 50 percent, with units of Royal Dutch Shell and Exxon Mobil Corp. each holding 25 percent.
Oct 25- Celgene Corp's quarterly results beat expectations on strong sales of its Revlimid cancer treatment, and the biotechnology company narrowly raised its full-year profit forecast. Excluding special items, Celgene earned $1.29 per share. Global company revenue rose 14 percent to $1.42 billon, topping Wall Street expectations of $1.41 billion.
Altria Group Inc., the owner of the biggest U.S. cigarette maker, Philip Morris USA, continues to focus its efforts on building its premium Marlboro brand which has been under pressure from competitors and lower-priced cigarette brands as consumers face economic challenges and unemployment remains high.
WASHINGTON _ Commerce Department releases third-quarter gross domestic product, 8:30 a.m.. Arch Coal Inc. reports quarterly financial results. Comcast Corp. reports quarterly financial results.
BUSINESSES CAUTIOUS: U.S. companies remained cautious in September and held back on orders for long-lasting manufactured goods that signal investment plans. THE NUMBERS: Total orders for durable goods rose 9.9 percent in September because of a sharp gain in volatile aircraft orders.
WICHITA, Kan.-- Spirit AeroSystems will book $590 million in charges during the third quarter because of setbacks in several aircraft contracts, sending shares of the aviation supplier tumbling 24 percent.
Oct 25- JetBlue Airways Corp posted a higher quarterly profit on Thursday, as it gained business passengers and benefited from summer travel. Net income was $45 million, or 14 cents a share, in the third quarter, compared with $35 million, or 11 cents a share, a year earlier. Revenue rose 9 percent to $1.3 billion.
*Patriot Coal bankruptcy puts health care, pensions at risk. Oct 24- Peabody Energy Corp and Arch Coal Inc are being sued by mine workers who contend that the companies have an obligation to pay pension and health care benefits that were transferred to Patriot Coal in a 2007 spinoff.
Oct 25- Mead Johnson Nutrition Co reported lower quarterly profit on Thursday, hurt by a slowdown in China. The maker of Enfamil baby formula reported net income of $140.3 million, or 69 cents per share, in the quarter, down from $144.7 million, or 70 cents per share, a year earlier.
LONDON-- Ford pressed ahead Thursday with its plan to slash production in Europe, announcing another plant closure and 1,500 more job cuts, as it warned that annual losses in the region will exceed $1.5 billion this year and next.
Oct 25- Sprint Nextel Corp posted a wider third-quarter loss on Thursday as it spent heavily on a network upgrade and lost customers from its iDen network, which it is shutting down. Sprint posted a loss of $767 million, or 26 cents per share, compared with a loss of $301 million, or 10 cents, in the third quarter a year ago.
NEW YORK-- The cosmetics company Revlon Inc. reported a loss for the third-quarter as restructuring and litigation charges more than offset the impact of a 3 percent rise in revenue. Revlon, whose brands include Almay, Mitchum and its namesake, said that it lost $15 million, or 29 cents per share in the three-month period ended Sept. 30.
Oct 25- Noble Energy Inc on Thursday said its third-quarter profit fell, as natural gas prices weighed and output was hit by disruptions from Hurricane Isaac. Profit in the quarter was $221 million, or $1.23 per share, compared with $441 million, or $2.39 per share, a year earlier.
Oct 25- International Paper Co posted a lower-than-expected profit on Thursday due to weak sales of consumer packaging in North America and Asia. The company posted net earnings of $237 million, or 54 cents per share, compared with $468 million, or $1.08 per share, a year earlier.
NEW YORK-- Shares of Best Buy Co. continued to slide Thursday, a day after the struggling electronics retailer slashed its guidance for the year and announced the departure of two key executives as part of a turnaround push.
RYE, N.Y.-- Jarden Corp., the company behind a smorgasbord of household products like Mr. On a per-share basis, earnings were $1 per share, down from $1.03, Jarden said late Wednesday.
NEW YORK-- Procter& Gamble's fiscal first quarter net income fell 7 percent on a stronger dollar and costs related to restructuring, but its results beat Wall Street expectations in a sign that a turnaround plan that it started in the spring is beginning to work.