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  • UPDATE 1-Iconix to buy Umbro from Nike for $225 million Wednesday, 24 Oct 2012 | 11:56 AM ET

    Oct 24- Iconix Brand Group Inc will buy the Umbro sneaker brand from Nike Inc for $225 million, the companies said on Wednesday. Nike, the world's largest athletic footwear company, said in May that it planned to sell Umbro and Cole Haan to sharpen its focus on its Nike, Jordan, Converse and Hurley brands.

  • UPDATE 1-Nasdaq net falls as trading volumes decline Wednesday, 24 Oct 2012 | 11:56 AM ET

    *3rd- qtr adj profit 62 cents/ share vs Street view 60 cents. Oct 24- Nasdaq OMX Group's third-quarter profit fell 18 percent, due in part to a drop in trading volumes in U.S. and Nordic equities, the exchange operator said on Wednesday. The New York- based company earned $89 million, or 52 cents per share, down from $109 million, or 61 cents per share, a year earlier.

  • Norfolk Southern shares fall on lower earnings Wednesday, 24 Oct 2012 | 11:54 AM ET

    NEW YORK-- Shares of Norfolk Southern Corp. hit a low for the year Wednesday after the railroad reported a 27 percent drop in third-quarter net income and an analyst downgraded the stock. Norfolk Southern CEO Wick Moorman expects weak coal demand to continue at least into the first half of next year.

  • *Obama predicts deficit deal, immigration overhaul Wednesday, 24 Oct 2012 | 11:54 AM ET
  • Producing team win rights to stage 'Rear Window' Wednesday, 24 Oct 2012 | 11:54 AM ET

    Producer Charlie Lyons, director Jay Russell and actor Tim Guinee announced Wednesday that their two-year hunt for the rights have been successful and they're hoping to mount the show on Broadway. "Rear Window" is based on a Cornell Woolrich short story, "It Had to Be Murder," that was first published in February 1942 in Dime Detective Magazine.

  • Lockheed Martin 3rd-qtr profit up, boost guidance Wednesday, 24 Oct 2012 | 11:53 AM ET

    BETHESDA, Md.-- Lockheed Martin Corp. said Wednesday its third-quarter net income rose 4 percent, as lower pension-related costs helped offset a drop in revenue. The results beat Wall Street predictions and the Bethesda, Md.- based aerospace and defense contractor also raised its full-year profit and revenue predictions.

  • U.S. architecture billings rise in September - AIA Wednesday, 24 Oct 2012 | 11:52 AM ET

    NEW YORK, Oct 24- A leading indicator of U.S. construction activity jumped last month, led by demand for new apartment buildings, suggesting U.S. builders and their suppliers may see more work in coming months.

  • 2nd hearing set on bid to unseal Romney testimony Wednesday, 24 Oct 2012 | 11:52 AM ET

    CANTON, Mass.-- A Massachusetts probate judge will hold another hearing Thursday before deciding whether to unseal testimony that GOP presidential candidate Mitt Romney gave in the divorce case of Staples founder Tom Stemberg. Attorneys for Romney and Staples asked the judge for more time to review two booklets of testimony.

  • *Clint Eastwood stars in TV ad supporting Romney Wednesday, 24 Oct 2012 | 11:51 AM ET
  • Sitcom king Chuck Lorre puts his musings in a book Wednesday, 24 Oct 2012 | 11:50 AM ET

    The " Chuck Lorre Productions" vanity card has been an outlet for Lorre's random observations since 1997, when alert viewers of the ABC sitcom "Dharma& Greg" began noticing fine print on the screen which, by freeze-framing their VCR, they could dwell on long enough to read.

  • Barry Diller's IAC reports jump in 3rd-qtr revenue Wednesday, 24 Oct 2012 | 11:50 AM ET

    Oct 24- Web conglomerate IAC/InteractiveCorp reported higher quarterly revenue but profit fell almost 40 percent due to a tax benefit from the same period a year ago.

  • Avery Dennison rises on 3Q income and outlook Wednesday, 24 Oct 2012 | 11:49 AM ET

    NEW YORK-- Shares of Avery Dennison Corp. jumped Wednesday after the office products maker reported better-than-expected results for the third quarter and raised its annual net income guidance. The company narrowed its 2012 adjusted net income forecast to a range of $2 to $2.05 per share from $1.90 to $2.05 per share.

  • Buffett 'salivating' for another big acquisition Wednesday, 24 Oct 2012 | 11:47 AM ET

    Oct 24- Berkshire Hathaway Inc has had two acquisitions of around $20 billion each fall through this year despite a willingness on both sides to do the deal, Chief Executive Warren Buffett said on Wednesday.

  • Oct 24- Eli Lilly and Co reported quarterly results below Wall Street expectations on Wednesday, hurt by increased spending on research and a drop in sales as its Zyprexa schizophrenia drug faced competition from cheaper generics. That compared with $1.24 billion, or $1.11 per share, a year earlier.

  • Honeywell buying Saia Burgess Controls for $130M Wednesday, 24 Oct 2012 | 11:44 AM ET

    MORRIS TOWNSHIP, N.J.-- Technology and manufacturing company Honeywell International Inc. said Wednesday it agreed to buy Saia Burgess Controls for $130 million. Saia Burgess controls is based in Switzerland and it is owned by Johnson Electric Group of Hong Kong. Shares of Honeywell fell 7 cents to $61.48 in morning trading.

  • China set to OK new nuke plants, ending moratorium Wednesday, 24 Oct 2012 | 11:43 AM ET

    BEIJING-- China said Wednesday that it is ready to approve new nuclear power plants as part of ambitious plans to reduce reliance on oil and coal, ending a moratorium imposed after Japan's Fukushima disaster last year.

  • Drugmaker Elan reports 3Q loss on hefty charges Wednesday, 24 Oct 2012 | 11:42 AM ET

    Elan Corp. PLC reported a third-quarter loss Wednesday, as heavy charges tied to a business spinoff and the discontinuation of an Alzheimer's drug study weighed on the Irish drugmaker's performance.

  • Delta Air posts higher quarterly net profit Wednesday, 24 Oct 2012 | 11:41 AM ET

    Oct 24- Delta Air Lines reported on Wednesday that its quarterly profit rose, boosted by gains tied to fuel hedges. Net income came to $1.05 billion, or $1.23 a share, for the third quarter, compared with $549 million, or 65 cents a share, a year earlier. Excluding items, profit was 90 cents a share.

  • BERLIN, Oct 24- Germany is rushing to purchase a stake in EADS by year-end, fearful that the owner of the shares, carmaker Daimler, could unload them on the open market and hurt Berlin's influence in the aerospace group, a government document obtained by Reuters showed.

  • Oct 24- Kimberly-Clark Corp posted a higher quarterly profit on Wednesday and raised its expectations for the year. Kimberly-Clark, best known for its Kleenex tissues, earned $517 million, or $1.30 per share, in the third quarter, compared with $432 million, or $1.09 per share, a year earlier.