Latest Business News Wires - Business Headlines


  • Military members face student loan debt problems Thursday, 18 Oct 2012 | 3:58 PM ET

    The report was compiled by the Office of Servicemember Affairs within the Consumer Financial Protection Bureau. The office was created in Congress' Wall Street reform legislation so it could better coordinate with other federal and state agencies on consumer protection issues, as well as be an ombudsman for student loans.

  • Eaton Vance raises quarterly dividend Thursday, 18 Oct 2012 | 3:58 PM ET

    BOSTON-- Investment manager Eaton Vance Corp. said Thursday that its board of directors approved a 5.3 percent increase to its quarterly dividend. The company will pay 20 cents per share to shareholders on Nov. 14 to shareholders of record as of Oct. 31. Eaton Vance shares rose 5 cents to $29.19 in afternoon trading.

  • Harley-Davidson shares rise after analyst upgrade Thursday, 18 Oct 2012 | 3:50 PM ET

    DETROIT-- Harley-Davidson Inc. rose Thursday after a Goldman Sachs analyst upgraded the shares, telling investors that the low price and looming motorcycle sales increases make the shares attractive. Analyst Patrick Archambault upgraded Harley from "Neutral" to "Buy," and raised his six-month price target by $3 to $54.

  • Money market fund assets rose to $2.568 trillion Thursday, 18 Oct 2012 | 3:44 PM ET

    NEW YORK-- Total U.S. money market mutual fund assets rose $5.84 billion to $2.568 trillion for the week that ended Wednesday, according to the Investment Company Institute. Assets of the nation's retail money market mutual funds fell $940 million to $886.05 billion, the Washington- based mutual fund trade group said Thursday.

  • GM retooling to idle Corvette production Thursday, 18 Oct 2012 | 3:41 PM ET

    LOUISVILLE, Ky.-- General Motors Co. plans to idle Corvette production in Kentucky for six months to prepare for the next generation of the iconic car. The automaker is preparing to retool its assembly plant in Bowling Green for the 2014 model.

  • Beans, corn higher on concerns about weather Thursday, 18 Oct 2012 | 3:40 PM ET

    Brazil and Argentina are huge producers of corn and soybeans. Although it's still early in the season, investors have shifted their focus from concerns about demand in the slower global economy to questions about supplies, said Mike Zuzolo, president of Global Commodity Analytics and Consulting LLC.

  • NJ jobless rate inches down to 9.8 percent Thursday, 18 Oct 2012 | 3:40 PM ET

    TRENTON, N.J.-- New Jersey's unemployment rate ticked down a notch to 9.8 percent in September, even as the state shed 1,200 jobs for the month.

  • Shares of MGM Resorts rise on casino plan Thursday, 18 Oct 2012 | 3:40 PM ET

    NEW YORK-- Shares of MGM Resorts International climbed Thursday after the company said its Chinese arm signed a deal for land to build a massive new casino in the world's biggest gambling market. MGM China, which signed the deal, is a joint venture between Las Vegas- based MGM Resorts International and Pansy Ho, daughter of Macau casino kingpin Stanley Ho.

  • Gas prices in Texas drop another 4 cents Thursday, 18 Oct 2012 | 3:39 PM ET

    IRVING, Texas-- The average price of gasoline in Texas has fallen 4 cents to $3.51. The weekly AAA Texas survey released Thursday shows that drivers in El Paso and Amarillo are paying the highest prices for regular unleaded at an average of $3.55. Drivers in Texas are paying 23 cents less than the national average of $3.74.

  • NetScout Systems 3Q profit surges, shares follow Thursday, 18 Oct 2012 | 3:34 PM ET

    WESTFORD, Mass.-- Shares of NetScout Systems Inc., which sells products that gauge computer network performance, rose as much as 7 percent Thursday after the company reported a 41 percent jump in fiscal second-quarter earnings. NetScout made $9.9 million, or 23 cents per share, compared with $7.1 million, of 17 cents per share a year ago.

  • Select Comfort shares fall on sales guidance Thursday, 18 Oct 2012 | 3:30 PM ET

    NEW YORK-- Select Comfort Corp. shares fell Thursday after the mattress company issued a disappointing revenue prediction for the full year. THE SPARK: Select Comfort said late Wednesday that its third-quarter profit jumped 52 percent on stronger sales.

  • On The Call: Morgan Stanley CFO Ruth Porat Thursday, 18 Oct 2012 | 3:25 PM ET

    Morgan Stanley's clients are waiting on the fiscal cliff. Companies don't want to act until they know what's going to happen with the fiscal cliff, which is when higher taxes and lower government spending are supposed to kick in next year unless Congress can work out a compromise before then.

  • Travelers 3Q profit more than doubles, tops St. Thursday, 18 Oct 2012 | 3:24 PM ET

    Travelers Cos. said Thursday that its net income jumped to $864 million, or $2.21 per share, for the three months ended Sept. 30. That compares with net income of $333 million, or 79 cents per share, in the same period last year. Investors sent shares in the New York company up $2.45, or 3.4 percent, to $73.83 in afternoon trading.

  • RR Donnelley shares drop on premature SEC filing Thursday, 18 Oct 2012 | 3:19 PM ET

    TRENTON, N.J.-- Shares of RR Donnelley fell and then partially recovered Thursday amid news the printer and communications consultant had mistakenly filed a draft version of client Google Inc.' s third-quarter financial results to the Securities and Exchange Commission hours before the final version was to be submitted.

  • Correction: Earns-Select Comfort story Thursday, 18 Oct 2012 | 3:16 PM ET

    MINNEAPOLIS-- In a story Oct. 17 about Select Comfort's Corp.' s earnings, The Associated Press reported erroneously that the company expects fourth-quarter sales to grow at least 20 percent, which would result in 2012 revenue of about $927.3 million. Select Comfort shares slip on plans for bigger spending.

  • News Summary: Philly Fed manufacturing index rises Thursday, 18 Oct 2012 | 3:12 PM ET

    GROWING AGAIN: Manufacturing in the Philadelphia region expanded in October following five months of declines. THE DETAILS: The Federal Reserve Bank of Philadelphia reported Thursday that its index of regional manufacturing activity had a reading of 5.7 in October following a -1.9 reading in September. The gain took the Philadelphia index.

  • Pool's 3Q income slips on charge for UK business Thursday, 18 Oct 2012 | 3:09 PM ET

    COVINGTON, La.-- Pool Corp., a distributor of swimming pool and backyard supplies, said Thursday that its net income fell 12 percent in the third quarter on an impairment charge related to its U.K. business. Pool wrote down the value of its U.K. business by $6.9 million during the quarter.

  • Earnings roundup: Life Time, Briggs & Stratton Thursday, 18 Oct 2012 | 3:00 PM ET

    Among the earnings stories for Thursday, Oct. 18, from AP Business News:. _ Life Time Fitness Inc. said that its third-quarter profit rose 19 percent as more people joined its gyms and spent more money at them.

  • Abbott Labs shares slide on kidney study Thursday, 18 Oct 2012 | 2:59 PM ET

    Shares of Abbott Laboratories slid Thursday because the company's partner on a potential kidney disease drug is stopping a late-stage study due to safety concerns.

  • Earnings roundup: Nucor, Marriott Vacations Thursday, 18 Oct 2012 | 2:55 PM ET

    Among the earnings stories for Thursday, Oct. 18, from AP Business News:. _ Nucor Corp.' s third-quarter net income plunged 39 percent on lower sales and prices as demand for steel fell in the sluggish global economy.