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Latest Business News Wires - Business Headlines


  • Magellan Health 3Q net income doubles on tax gain Friday, 26 Oct 2012 | 12:49 AM ET

    AVON, Conn.-- Magellan Health Services Inc., which helps health plans, employers and government agencies manage health benefits, said Friday that its net income more than doubled in the third quarter on a large one-time tax benefit. Magellan said its net income rose to $66.3 million, or $2.36 per share, from $31.4 million, or $1.03 per share.

  • SINGAPORE, Oct 26- Gold was little changed on Friday, heading for its third week of decline after shares inched lower in Asia, the U.S. dollar firmed, and fears about the health of the global economy lingered. *Gold was steady at $1,712.18 an ounce by 0034 GMT.

  • Stamps.com climbs on 3Q income and higher outlook Friday, 26 Oct 2012 | 12:41 AM ET

    NEW YORK-- Shares of Stamps.com jumped Friday after posting strong third-quarter results and raised its guidance for 2012.. Net income far surpassed Wall Street estimates, and Stamps.com raised its net income and revenue forecasts for the full year.

  • *Shares down 1.3 pct in early Seoul trade. SEOUL, Oct 26- South Korean technology powerhouse Samsung Electronics Co posted a fourth straight record quarterly profit- of $7.4 billion- with strong sales of its Galaxy range of phones masking sharply lower memory chip sales.

  • Wal-Mart completes deal with Chinese company Friday, 26 Oct 2012 | 12:37 AM ET

    NEW YORK-- Wal-Mart Stores Inc. announced the completion of its increased investment in a fast-growing Chinese company, as the world's largest retailer looks to broaden its access to a rapidly growing customer base.

  • *Rockwell Collins profit disappoints, cutting jobs Friday, 26 Oct 2012 | 12:33 AM ET
  • BJ's Restaurants falls as 3Q results miss Street Friday, 26 Oct 2012 | 12:31 AM ET

    NEW YORK-- Shares of BJ's Restaurants fell to their lowest point in two years Friday and two industry analysts downgraded the chain after its third-quarter results fell short of expectations. THE SPARK: BJ's Restaurants Inc. reported Thursday that it earned 24 cents per share for the period ended Oct. 2.

  • DeVry rises as 1Q results top Wall Street's view Friday, 26 Oct 2012 | 12:30 AM ET

    NEW YORK-- Enrollments are still dropping at DeVry, but at a slower pace, helping the for-profit education company top analyst expectations in its latest quarter and driving up its shares Friday. THE SPARK: DeVry Inc. said late Thursday that fiscal first-quarter earnings came to 49 cents per share on revenue of $482.7 million.

  • United Bankshares says 3Q income down 3.5 percent Friday, 26 Oct 2012 | 12:28 AM ET

    United Bank's parent company says it earned $19.3 million, or 38 cents per share, in the quarter ending Sept. 30. The 2012 results include an accrual of $3.3 million pertaining to a settlement of claims stemming from class actions against United Bank Inc. of West Virginia, and a noncash, pretax impairment charge of $2.3 million on investment securities.

  • Ark. AG says deal with drug company to net $489K Friday, 26 Oct 2012 | 12:26 AM ET

    LITTLE ROCK, Ark.-- Arkansas will receive nearly $490,000 under a settlement reached with a pharmaceutical company over allegations it paid kickbacks and improperly marketed drugs. The money will go to the state Medicaid program. The firm was accused of unlawfully marketing drugs for non- FDA- approved illnesses, which led to false Medicaid claims.

  • Roger Williams University to freeze tuition Friday, 26 Oct 2012 | 12:24 AM ET

    BRISTOL, R.I.-- Roger Williams University is freezing tuition for current undergraduate students and guaranteeing no hike over this year's cost for those who enroll in the next school year.

  • On the Call: Goodyear CEO Richard Kramer Friday, 26 Oct 2012 | 12:23 AM ET

    When reporting third-quarter results on Friday, Goodyear Tire& Rubber Co. said it expects tire sales volume to be down 3 percent to 5 percent in the fourth quarter, compared with a year earlier. Chairman and CEO Richard J. Kramer was asked about the forecast on a conference call with analysts. Our OE business in North America continues to stay robust.

  • New landfills needed for ND oil drilling waste Friday, 26 Oct 2012 | 12:22 AM ET

    The more than 1 billion pounds of oilfield waste produced this year is roughly weight of the sunflower harvest in North Dakota, which is the nation's top sunflower producer.

  • Shares of property insurers fall as storm looms Friday, 26 Oct 2012 | 12:20 AM ET

    BOSTON-- Shares of property insurers fell more sharply than the broader market on Friday as investors weighed the potential for heavy damages from Hurricane Sandy, which was heading north from Haiti and Cuba toward the East Coast.

  • News Summary: Merck 3Q net up 2 pct, beats views Friday, 26 Oct 2012 | 12:19 AM ET

    REASSURING RESULTS: Drugmaker Merck posted a 2 percent increase in third-quarter profit, at $1.7 billion. It had generated $5.5 billion a year. THE NUMBERS: Adjusted net income was $2.9 billion, or 95 cents per share, 2 cents more than expected.

  • Cymer posts lower 3Q net income, higher revenue Friday, 26 Oct 2012 | 12:14 AM ET

    SAN DIEGO-- Cymer Inc. said Friday that its third-quarter net income fell 13 percent as higher expenses, mainly for research and development, outpaced a slight revenue increase. Cymer's operating costs rose 21 percent from a year earlier to $62.7 million. Shares of Cymer climbed 49 cents to $79.66 in midday trading.

  • Cabot Oil & Gas shares rise on strong 3Q Friday, 26 Oct 2012 | 12:12 AM ET

    NEW YORK-- Shares of Cabot Oil& Gas Corp. jumped to a new high Friday after the company reported better-than-expected third-quarter net income, helped by higher oil production and prices.

  • US economy likely grew slowly last quarter Friday, 26 Oct 2012 | 12:02 AM ET

    WASHINGTON-- The government's snapshot Friday of the U.S. economy's growth will be its last before Americans choose a president in 11 days. And it would give Mitt Romney's team evidence to argue that the economy is growing at an unacceptably subpar pace. "We are stuck in this half-speed growth mode," said David Wyss, an economics professor at Brown University.

  • *BOJ seen cutting econ forecasts, easing on Oct. 30. TOKYO, Oct 26- Japan's core consumer prices fell for the fifth straight month in the year to September, showing the economy remained mired in deflation and keeping the pressure on the central bank to do more to achieve its inflation target.

  • *Shares up 24 pct YTD; Seoul mkt up 5 pct; Apple up 52 pct. Samsung, reporting its results just hours after main rival Apple Inc, did not detail its third-quarter smartphone shipments, though these are estimated to have soared to 58 million. Apple said it shipped 26.9 million iPhones in July-September It launched its latest iPhone 5 on Sept. 21.