CNBC Utilities Page Latest Business News Wires - Business Headlines


  • 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.

  • Revenue, profit slip at gadget giant Jarden Thursday, 25 Oct 2012 | 11:39 AM ET

    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.

  • United Continental posts lower quarterly net profit Thursday, 25 Oct 2012 | 11:38 AM ET

    Oct 25- United Continental Holdings Inc reported a lower quarterly profit on Thursday as revenue fell and operating expenses rose. The world's biggest carrier, formed when United bought Continental Airlines in 2010, had net income of $6 million, or 2 cents a share, in the third quarter, compared with $653 million, or $1.69 a share, a year earlier.

  • Procter & Gamble 1Q beats expectations Thursday, 25 Oct 2012 | 11:38 AM ET

    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.

  • Shire 3Q income rises; CEO Russell will retire Thursday, 25 Oct 2012 | 11:37 AM ET

    NEW YORK-- Shire PLC said Thursday its net income rose 18 percent in the third quarter, even though increased generic competition cut into sales of its attention deficit hyperactivity disorder drug Adderall XR. Ornskov will become Shire's CEO-designate on Jan. 2 and will take over as CEO on April 30.

  • UPDATE 1-Hershey profit tops expectations by a penny Thursday, 25 Oct 2012 | 11:36 AM ET

    Oct 25- Hershey Co reported a slightly higher-than-expected quarterly profit on Thursday and raised its full-year outlook, citing the benefit of an acquisition and commodity costs that should not be as high as anticipated.

  • Biogen 3rd quarter profit rises Thursday, 25 Oct 2012 | 11:33 AM ET

    Oct 25- Biogen Idec Inc on Thursday reported higher-than-expected third-quarter profit on increased sales of its drugs for multiple sclerosis and cancer, and the U.S. biotechnology company raised its full-year earnings forecast. Biogen posted a net profit of $398 million, or $1.67 per share, compared with a profit of $354 million, or $1.43 per share, a year ago.

  • New Monitor publisher son of former publisher Thursday, 25 Oct 2012 | 11:30 AM ET

    McALLEN, Texas-- Stephan T. Wingert was named publisher Wednesday of The Monitor newspaper and as regional vice president responsible for all AIM Media Texas properties in the Rio Grande Valley.

  • UPDATE 1-Procter & Gamble blows past profit expectations Thursday, 25 Oct 2012 | 11:29 AM ET

    Oct 25- Procter& Gamble Co's profit excluding items rose more than expected on Thursday and the world's largest household products maker maintained a key forecast for the year, which indicated it is making progress after coming under pressure from activist investor William Ackman.

  • 3 companies bid in Minn. mineral rights auction Thursday, 25 Oct 2012 | 11:29 AM ET

    MINNEAPOLIS-- Three companies submitted bids to explore and mine for copper, nickel and other metals in Minnesota's latest mineral rights auction, the Department of Natural Resources said Wednesday.

  • European shares rise on UK growth, China output outlook Thursday, 25 Oct 2012 | 11:28 AM ET

    *UK Q3 GDP beats expectations; outlook good for China factories. *WPP, Daimler, France Telecom fall on earnings. LONDON, Oct 25- European shares rose on Thursday after China said factory output was set to accelerate and Britain's economy grew faster than expected in the third quarter.

  • SC Medicaid director: Predictions could be way off Thursday, 25 Oct 2012 | 11:28 AM ET

    COLUMBIA, S.C.-- The director of South Carolina's Medicaid agency warned legislators Wednesday that the numbers of already-eligible residents signing up for the government program through 2014 could exceed estimates, further eating into state revenue.

  • NEW YORK, Oct 25- U.S. stock index futures rose on Thursday, indicating the S&P 500 may rebound from its worst five-day slide in five months, on optimism China's economy may be recovering and ahead of a flurry of economic data and corporate earnings.

  • *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.

  • 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.

  • 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.