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  • Stryker pares net income guidance for 2012 Wednesday, 17 Oct 2012 | 5:49 PM ET

    KALAMAZOO, Mich.-- Medical device maker Stryker Corp. cut its 2012 net income forecast on Wednesday and issued a disappointing outlook for 2013, pointing to weak sales of equipment and the sluggish economy in Europe. "We expect market conditions to remain challenging in Europe and for capital equipment," President and CEO Kevin Lobo said in a press release.

  • Seattle Times runs ads in favor of GOP candidate Wednesday, 17 Oct 2012 | 5:45 PM ET

    OLYMPIA, Wash.-- The Seattle Times Co. began an active campaign Wednesday to support Republican gubernatorial candidate Rob McKenna and gay marriage, part of a push to demonstrate the effectiveness of newspaper political advertising.

  • Beckett sues pipeline builder over ocelot habitat Wednesday, 17 Oct 2012 | 5:33 PM ET

    McALLEN, Texas-- Not even the legal equivalent of a fastball under the chin could stop a Texas pipeline builder from clearing acres of brush that Los Angeles Dodgers pitcher Josh Beckett claims is critical habitat for the endangered ocelot.

  • Surge in US home construction could lift economy Wednesday, 17 Oct 2012 | 5:33 PM ET

    U.S. home construction is making a comeback that could invigorate the economy's still-weak recovery. Builders last month started construction on single-family houses and apartments at the fastest rate in more than four years, the Commerce Department said Wednesday.

  • Albemarle 3Q net falls, warns of tougher 4Q Wednesday, 17 Oct 2012 | 5:29 PM ET

    BATON ROUGE, La.-- Specialty chemical maker Albemarle Corp. said on Wednesday that its third-quarter net income fell 14.5 percent and warned that the fourth quarter will be even more difficult. The company said it earned $99.3 million, or $1.10 per share, for the quarter that ended Sept. 30. That was down from $116.1 million, or $1.28, during the same period last year.

  • Verizon strikes pension deal with Prudential Wednesday, 17 Oct 2012 | 5:26 PM ET

    NEW YORK-- Phone company Verizon Communications Inc. on Wednesday said it will transfer $7.5 billion of its pension obligations to The Prudential Insurance Company of America. Prudential will take over paying the 41,000 Verizon management retirees covered by a defined-benefit plan that was "frozen" in 2005, meaning no new benefits have accrued since then.

  • American puts up 'help wanted' sign after buyouts Wednesday, 17 Oct 2012 | 5:24 PM ET

    NEW YORK-- Wanted: A few good recruits to serve coffee and help combat terrorism at 30,000 feet. American Airlines said Wednesday that it will post job openings for 1,500 flight attendants next month. The departing flight attendants all started working before the Sept. 11 terrorist attacks that included the crashes of two American Airlines jets.

  • Investors again retreat from stock mutual funds Wednesday, 17 Oct 2012 | 5:22 PM ET

    WASHINGTON-- Investors withdrew money from stock mutual funds for the 12th consecutive week during the period ended Oct. 10, although cash was pulled out at a much slower pace than during the previous week. Investors withdrew a net $2.3 billion from U.S. stock funds, the Investment Company Institute said in a preliminary report Wednesday.

  • Kinder Morgan says 3Q net income rises 32 percent Wednesday, 17 Oct 2012 | 5:21 PM ET

    HOUSTON-- Kinder Morgan Inc. said Wednesday its third-quarter net income rose nearly 32 percent as the nation's largest natural-gas pipeline operator benefited from its acquisition of El Paso Corp in May.

  • Select Comfort shares fall on revenue outlook Wednesday, 17 Oct 2012 | 5:17 PM ET

    MINNEAPOLIS-- Select Comfort Corp.' s shares dropped in after-hours trading Wednesday after the mattress company issued a disappointing full-year revenue forecast. Select Comfort said that its third-quarter profit increased by 52 percent on stronger sales. Select Comfort made $26.2 million, or 46 cents per share, in the quarter that ended Sept. 29.

  • News Summary: Stocks edge up on housing report Wednesday, 17 Oct 2012 | 5:11 PM ET

    HOUSING: A surprisingly strong housing report helped push the stock market mostly higher Wednesday. The government said builders broke ground on building new single-family houses and apartments in September at the fastest pace since July 2008. BIG BLUES: IBM's stock sank after its results missed Wall Street's expectations.

  • Investment bank Piper Jaffray turns 3Q profit Wednesday, 17 Oct 2012 | 5:01 PM ET

    MINNEAPOLIS-- Investment bank Piper Jaffray Cos. said Wednesday that it turned a profit in the third quarter on stronger results from both its capital markets and asset management businesses. Piper Jaffray said revenue for its capital markets business climbed 42 percent on increased equity financing and fixed-income financing revenue.

  • Wanted: Flight attendants to work for less pay Wednesday, 17 Oct 2012 | 4:53 PM ET

    NEW YORK-- Wanted: A few good recruits to serve coffee and help combat terrorism at 30,000 feet. American Airlines said Wednesday that it will post job openings for 1,500 flight attendants next month. The departing flight attendants all started working before the Sept. 11 terrorist attacks that included the crashes of two American Airlines jets.

  • Werner 3Q net falls on weak demand, higher fuel Wednesday, 17 Oct 2012 | 4:45 PM ET

    OMAHA, Neb.-- Trucking and logistics company Werner Enterprises Inc. said on Wednesday that its third-quarter net income fell 15 percent because of weak demand for freight hauling and rising fuel prices. The company earned $25.1 million, or 34 cents per share, for the quarter that ended Sept. 30.

  • Brothels rescue cash-strapped Greek soccer team Wednesday, 17 Oct 2012 | 4:44 PM ET

    LARISSA, Greece-- The world's oldest profession is giving a whole new meaning to love of the game. Players on a cash-strapped Greek soccer team now wear pink practice jerseys with the logos " Villa Erotica" and " Soula's House of History," two bordellos it recruited as sponsors after drastic government spending cuts left the country's sports clubs facing ruin.

  • S&P downgrades Cyprus deeper into junk Wednesday, 17 Oct 2012 | 4:36 PM ET

    NICOSIA, Cyprus-- International ratings agency Standard& Poor's has cut Cyprus' credit rating to B, three notches deeper into junk because of the government's delay in swiftly negotiating a bailout with potential creditors in order to support its ailing banks. The agency also warned in a statement Wednesday that another downgrade could follow.

  • News Summary: Halliburton 3Q earnings fall Wednesday, 17 Oct 2012 | 4:28 PM ET

    SLOWING DOWN: Halliburton Co.' s earnings fell 12 percent in the third quarter as business fell off in its core North America market. PASS ON GAS: Some of Halliburton's customers are pulling back on drilling for natural gas because supplies are plenty and prices are down from a year ago.

  • Stock market edges up on stronger housing report Wednesday, 17 Oct 2012 | 4:27 PM ET

    NEW YORK-- A surprisingly strong housing report helped push the stock market mostly higher Wednesday, while weak earnings reports from Intel and IBM weighed on the Dow Jones industrial average. Better results from Mattel, Goldman Sachs, and Johnson& Johnson shot the stock market higher Tuesday.

  • American Express profit inches higher in 3Q Wednesday, 17 Oct 2012 | 4:21 PM ET

    LOS ANGELES-- American Express Co. said Wednesday that its net income rose 1 percent in the third quarter, aided by lower expenses and increased spending by the credit card issuer's customers. In the second quarter, American Express' revenue grew 5 percent from a year earlier.

  • California foreclosure notices fall to 5-year low Wednesday, 17 Oct 2012 | 4:15 PM ET

    SAN DIEGO-- Home foreclosure activity in California fell to a new five-year low in the third quarter as rising prices eased pressure on homeowners and lenders, a research firm said Wednesday.