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CNBC Utilities Page Latest Business News Wires - Business Headlines


  • Pinnacle close to selling AC Boardwalk site Thursday, 25 Oct 2012 | 11:27 AM ET

    ATLANTIC CITY, N.J.-- Pinnacle Entertainment Inc., the Las Vegas casino company that bought and blew up the former Sands Casino Hotel to make way for a $2 billion casino that never got built, says it's close to selling the prime Boardwalk site where the project would have gone.

  • *Earnings of $1.55 per share beat analysts' estimate of $1.34. The third-largest U.S. health insurer also boosted its 2012 outlook on Thursday to the top end of its previous forecast range of $5.00 to $5.10 a share.

  • ConocoPhillips 3Q profit falls 30 percent Thursday, 25 Oct 2012 | 11:25 AM ET

    HOUSTON-- ConocoPhillips said Thursday that net income fell 30 percent in the third quarter as it sold assets and oil and natural gas prices fell. Houston- based ConocoPhillips made $1.8 billion, or $1.46 per share, compared with $2.6 billion, or $1.91 per share, a year earlier.

  • Mass. plans for costs of drug lab crisis Thursday, 25 Oct 2012 | 11:25 AM ET

    Deval Patrick's administration has unveiled a new plan for dealing with the mounting costs associated with the alleged mishandling of evidence at a state drug lab. The plan was announced by Secretary of Administration and Finance Jay Gonzalez after some agencies affected by the crisis missed a Wednesday deadline for submitting cost estimates.

  • *Ford to close Southampton plant, Dagenham stamping plant. LONDON/ BASILDON, England, Oct 25- Ford will stop making vans in Britain next year, with the potential loss of 2,000 jobs, as part of a plan by the U.S. car maker to drag its European operations back into profit.

  • Noble Energy's 3Q net income falls on higher costs Thursday, 25 Oct 2012 | 11:23 AM ET

    HOUSTON-- Noble Energy, while wresting with falling natural gas prices and a hurricane in the Gulf of Mexico, topped Wall Street expectations for the third quarter. The Houston energy producer said Thursday that its net income totaled $221 million, or $1.23 per share, in the July-through-September quarter.

  • On the Call: P&G CEO discusses turnaround plan Thursday, 25 Oct 2012 | 11:23 AM ET

    NEW YORK-- Procter& Gamble, the world's largest consumer products maker, said Thursday that its net income fell 7 percent on the stronger dollar and restructuring charges, but adjusted results met expectations.

  • Raytheon earnings beat Street, raises 2012 forecast Thursday, 25 Oct 2012 | 11:22 AM ET

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

  • SAO PAULO, Oct 25- Brazil's jobless rate rose slightly in September but continued near record lows, data showed on Thursday, reinforcing the view that Brazil's tight labor market remains well suited to support an economic recovery.

  • *Shares in Hong Kong more than halved this year. HONG KONG, Oct 25- ZTE Corp, the world's fourth-biggest maker of mobile phones and fifth-ranked telecommunications equipment manufacturer, reported a $310 million quarterly net loss, its first since listing in Hong Kong in 2004, on shredded margins, project delays and accounting changes in China.

  • SOFTS-Raw sugar bounces off 3-week low, arabica coffee up Thursday, 25 Oct 2012 | 11:21 AM ET

    *Large number of Brazil mills still open for crushing. LONDON, Oct 25- ICE raw sugar futures bounced off a three-week low on Thursday, although the upside was capped by fast progress in Brazil's harvest and surplus supplies, while coffee and cocoa also edged higher.

  • News Summary: Aetna 3Q profit climbs 2 percent Thursday, 25 Oct 2012 | 11:18 AM ET

    THIRD QUARTER: Health insurer Aetna Inc. said its third-quarter earnings rose 2 percent as lower-than-expected health care use and revenue gains helped the insurer trump Wall Street expectations. Aetna earned $499.2 million, or $1.47 per share.

  • Simon Property Group third-quarter FFO rises Thursday, 25 Oct 2012 | 11:15 AM ET

    Oct 25- Simon Property Group Inc reported an 18.8 percent increase in a key earnings measure on higher rents and sales at its malls and outlet centers, easily beating estimates, and the real estate investment trust raised its outlook for the year.

  • CME Group Q3 profit falls as trading sags Thursday, 25 Oct 2012 | 11:12 AM ET

    CHICAGO, Oct 25- CME Group Inc, the biggest operator of U.S. futures exchanges, reported a 30.5 percent decline in quarterly profit as investors bought and sold fewer futures and options. Net income fell to $218.9 million, or 66 cents a share, in the quarter, from $315 million, or 95 cents a share, a year earlier, CME said on Thursday.

  • BRUSSELS, Oct 25- Euro zone officials are expected to press ahead on Thursday with plans to give Athens two more years to meet its budget goals as well as examine ways of closing the yawning gap in Greece's finances.

  • Sprint posts wider quarterly loss Thursday, 25 Oct 2012 | 11:09 AM ET

    Oct 25- Sprint Nextel Corp posted a wider loss in the third quarter as it spent heavily on a network upgrade and lost customers from its iDen network, which it is shutting down.

  • Rayonier 3Q profit falls but tops Street's view Thursday, 25 Oct 2012 | 11:08 AM ET

    JACKSONVILLE, Fla.-- Rayonier said Thursday that its third-quarter net income dropped 23 percent, pulled down by an interest tax expense while the year-ago period included a tax gain. The forest products company earned $80.6 million, or 62 cents per share, compared with $104.9 million, or 71 cents per share, during the same period a year ago.

  • ITT Educational's profit falls 36 percent Thursday, 25 Oct 2012 | 11:08 AM ET

    CARMEL, Ind.-- ITT Educational Services Inc. said Thursday that its third-quarter net income fell 36 percent as enrollment fell amid stricter federal regulations that hold for-profit online schools more accountable for graduation rates and job placement.

  • Procter & Gamble posts quarterly profit Thursday, 25 Oct 2012 | 11:06 AM ET

    Oct 25- Procter& Gamble Co posted a quarterly profit and maintained its key earnings forecast for the year as the world's largest household products maker cut costs and narrowed its focus on key markets, products and countries.

  • International Paper quarterly profit drops 49 percent Thursday, 25 Oct 2012 | 11:06 AM ET

    Oct 25- International Paper Co reported a 49 percent drop in third-quarter net earnings on Thursday, due in part to a decline in consumer packaging sales. 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. Net sales rose 6 percent to $7 billion.