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Latest Business News Wires - Business Headlines


  • Roper Industries posts 6 pct gain in 3Q earnings Thursday, 25 Oct 2012 | 4:02 PM ET

    SARASOTA, Fla.-- Roper Industries Inc., a medical and industrial equipment maker, said Thursday its third-quarter profit rose 6 percent on stronger sales in three of its four business units. Net earnings for the three months ended Sept. 30 were $117 million, or $1.19 per share, up from $110.3 million, or $1.15 per share, in the third quarter of 2011..

  • Oct 25- Precision Drilling Corp, Canada's largest drilling contractor, reported a 53 percent slide in quarterly profit as gas firms cut drilling in the face of weak demand and sliding gas prices. Natural gas prices in the third quarter fell 29 percent from last year, pushing the number of rigs drilling for gas in the United States to a 13- year low this month.

  • *3rd- quarter EPS $1.91 excluding items vs Street view $1.60. ``They put up a nice solid quarter,'' said RBC Capital Markets analyst Michael Yee. ``What's being appreciated in biotech is the consistent beat and raise by all four of the large cap biotechs this week and that's got the sector on the move.''.

  • WASHINGTON, Oct 25- Raytheon Co, maker of Patriot missiles, radar and other military equipment, reported higher-than-expected quarterly earnings on Thursday despite a 1 percent drop in revenues, and it raised its forecast for 2012 earnings.

  • McClatchy posts lower 3Q earnings, revenue Thursday, 25 Oct 2012 | 3:57 PM ET

    SACRAMENTO, Calif.-- The McClatchy Co. reported lower net income in the third quarter, hurt by declining circulation and ad revenue at its newspapers. The owner of The Miami Herald, The Sacramento Bee and other newspapers said Thursday that it earned $5.1 million, or 6 cents per share, in the July-September period.

  • US suing Tulsa restaurant chain over unpaid wages Thursday, 25 Oct 2012 | 3:57 PM ET

    TULSA, Okla.-- The Department of Labor announced Thursday it is suing a Tulsa- area restaurant chain over nearly $1 million in unpaid wages it alleges the business owes to more than 220 employees.

  • Aetna said that next year it will shift even more of its commercial and Medicare business to these groups, known as accountable care organizations, which are offered incentives to improve the quality of care while lowering costs. Medicare is the government health plan for older Americans.

  • Shares of Starwood Hotels fall on outlook Thursday, 25 Oct 2012 | 3:56 PM ET

    NEW YORK-- Amid worries that the recovery in travel demand may have "lost its steam," shares of Starwood Hotels and Resorts Worldwide Inc. dropped Thursday afternoon. The Stamford, Conn., company expects to earn between 64 and 66 cents per share in the last three months of the year.

  • Airline stocks mixed, reflecting earnings Thursday, 25 Oct 2012 | 3:54 PM ET

    United Continental Holdings Inc.' s profit tumbled to $6 million after earning $653 million in the same quarter last year, and the results fell short of Wall Street's expectations.

  • Sunoco to pay $117,000 to settle hazmat complaint Thursday, 25 Oct 2012 | 3:51 PM ET

    PHILADELPHIA-- The U.S. Environmental Protection Agency said Sunoco Inc. is paying a $117,000 fine to settle alleged violations of hazardous waste storage regulations at one of its former plants in northeast Philadelphia. The EPA said it cited Sunoco for violating a federal law governing the storage and disposal of hazardous waste.

  • Correction: US Oil Boom story Thursday, 25 Oct 2012 | 3:49 PM ET

    NEW YORK-- In a story Oct. 23 about the boom in U.S. oil production, The Associated Press misidentified the year and amount of peak U.S. oil output. US could soon overtake Saudi Arabia as world's biggest oil producer; output is booming. NEW YORK _ U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world's biggest producer.

  • Buffett's firm wins auction for ResCap's loans Thursday, 25 Oct 2012 | 3:47 PM ET

    OMAHA, Neb.-- Warren Buffett's company won the auction for Residential Capital's loan portfolio with a $1.5 billion bid this week. That means the conglomerate Berkshire Hathaway Inc. will acquire the loans as long as a bankruptcy judge approves. ResCap's parent company is Ally Financial, which is 74 percent owned by the U.S. government as a result of bailouts.

  • FTC, paint cos in settlement over organic claims Thursday, 25 Oct 2012 | 3:46 PM ET

    The Sherwin-Williams Co. and PPG Architectural Finishes Inc. agreed to settlements requiring them to stop claiming that certain kinds of their interior paints contain "zero" volatile organic compounds, the FTC said.

  • Oct 25- Two big asset managers reported quarterly revenue declines on Thursday as investors moved into lower-fee fixed-income funds. Janus Capital Group said its third-quarter revenue had fallen 12 percent to $209 million, mostly because it had added more performance fees for its mutual funds.

  • TORONTO, Oct 25- Goldcorp Inc, the No. 2 Canadian gold miner, reported a 48 percent increase in quarterly profit on Thursday, as improved performance at its Red Lake and Penasquito mines led to strong gold and silver sales.

  • RIO DE JANEIRO, Oct 25- Brazilian mining company Vale SA plans to sell underperforming assets in a push to control costs and boost profits, executives said on Thursday, a day after reporting weak earnings and a halt to work on a giant iron ore mine in Guinea, West Africa.

  • NEW YORK, Oct 25- U.S. stocks erased early morning gains and turned negative, weighed down by declines in the materials and telecom sectors. The Dow Jones industrial average dropped 21.92 points, or 0.17 percent, to 13,055.42. The Nasdaq Composite Index shed 2.31 points, or 0.08 percent, to 2,979.38.

  • *National Union of Mineworkers accepts gold industry offer. JOHANNESBURG, Oct 25- South Africa's gold mines agreed a wage deal with unions on Thursday as the bulk of the gold sector's striking miners returned to work under threat of dismissal.

  • *Dominion to shut Kewaunee reactor in Wisconsin next year. On the company's third-quarter earnings call, Dominion said the three plants are the 1,536- megawatt Brayton Point coal, natural gas and oil-fired facility in Massachusetts; the 1,158- MW Kincaid coal plant in Illinois; and the company's stake in the 1,424- MW Elwood gas plant in Illinois.

  • News Summary: Copper falls on demand questions Thursday, 25 Oct 2012 | 3:42 PM ET

    SLUMPING COPPER: Copper dropped after unimpressive reports on September home sales and orders for long-lasting goods failed to ease questions about future demand.