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  • Abbott Labs 3Q net income rises; lays off 550 Wednesday, 17 Oct 2012 | 2:48 PM ET

    WASHINGTON-- Drug and medical device maker Abbott Laboratories reported a higher third-quarter profit Wednesday, edging past analyst expectations, even as revenue slipped. Spokeswoman Adelle Infante said that the layoffs were in Abbott's nutrition, medical devices, established pharmaceuticals and molecular diagnostics divisions.

  • Centene stock jumps as insurer vows Kentucky exit Wednesday, 17 Oct 2012 | 2:45 PM ET

    Shares of Centene Corp. soared Wednesday after the health insurer said it will end a contract to administer Medicaid coverage in Kentucky that had hampered its performance. A Centene official said in a brief statement that they "do not believe there is a viable path to a sustainable managed care program in Kentucky."

  • Fla. man charged in NY dinosaur fossils case Wednesday, 17 Oct 2012 | 2:34 PM ET

    MIAMI-- A Florida man was charged Wednesday with smuggling dinosaur fossils into the United States, including a nearly complete Tyrannosaurus Bataar skeleton from Mongolia, federal prosecutors said.

  • French firm: 7 sailors kidnapped off Nigeria coast Wednesday, 17 Oct 2012 | 2:34 PM ET

    LAGOS, Nigeria-- Gunmen attacked a ship operated by a French oil and gas services company off the coast of Nigeria's oil-rich southern delta, kidnapping six Russian sailors and an Estonian in the assault, the firm said Wednesday.

  • Legal path to US from Cuba still complicated Wednesday, 17 Oct 2012 | 2:33 PM ET

    WASHINGTON-- Cuba's surprise decision to make it easier for citizens to leave the country doesn't mean Cubans can book tickets on commercial planes and head for Miami. "This may end up being ado about nothing," said a Cuban-immigration expert, Jose Azel of the University of Miami's Institute for Cuban and Cuban American Studies.

  • Dean Foods to raise up to $320M in WhiteWave IPO Wednesday, 17 Oct 2012 | 2:32 PM ET

    DALLAS-- Dean Foods Co.' s subsidiary WhiteWave plans to raise up to $368 million in its initial public offering. The company, which sells Silk Soymilk and International Delight Creamers, will offer 20 million shares for between $14 and $16 per share, according to a filing with the U.S. Securities and Exchange Commission on Wednesday.

  • WHO: TB numbers drop to 8.7 million new cases Wednesday, 17 Oct 2012 | 2:31 PM ET

    LONDON-- The number of people who caught tuberculosis last year inched downward according to an estimate by the World Health Organization, but the agency warned that drug-resistant strains are still spreading.

  • Dollar weakens on strong US economic reports Wednesday, 17 Oct 2012 | 2:30 PM ET

    Moody's decision to forgo downgrading Spain's government debt rating also made traders more comfortable owning the euro. The euro rose to $1.3127 from $1.3043 late Tuesday and the British pound rose to $1.6154 from $1.6113. The dollar fell to 97.78 Canadian cents from 98.71 Canadian cents and to 0.9219 Swiss francs from 0.9270 Swiss franc.

  • McDonald's 3Q should indicate economic pressures Wednesday, 17 Oct 2012 | 2:26 PM ET

    NEW YORK-- McDonald's Corp. reports its third-quarter results Friday, which should give a glimpse of how the world's biggest hamburger chain is coping with intensifying competition and the challenging global economy. WHAT TO WATCH FOR: After outperforming its rivals for years, some analyst think McDonald's may be entering a period of slower growth.

  • Diamondback Energy IPO is complete Wednesday, 17 Oct 2012 | 2:10 PM ET

    MIDLAND, Texas-- Diamondback Energy said Wednesday that completed an initial public offering of 12.5 million shares. It raised $218.8 million in the IPO, which was priced at $17.50 apiece. Diamondback Energy Inc. had projected a price of $17 to $19 per share.

  • News Summary: SEC proposes rules for derivatives Wednesday, 17 Oct 2012 | 1:55 PM ET

    MINIMUM CAPITAL: U.S. regulators proposed setting minimum capital levels that banks and other firms that trade derivatives must hold as a cushion against risk.

  • Earnings preview: GE resurgence to continue in 3Q Wednesday, 17 Oct 2012 | 1:54 PM ET

    NEW YORK-- General Electric is expected to show progress on its plan to cut costs and focus on its roots as a manufacturer when it reports earnings for the third quarter on Friday. At the same time GE has worked to reduce its non-industrial assets by selling NBC, shrinking its banking division and selling commercial real estate holdings.

  • Uruguay Senate legalizes abortion Wednesday, 17 Oct 2012 | 1:46 PM ET

    MONTEVIDEO, Uruguay-- The Uruguayan Senate voted 17-14 on Wednesday to legalize all first trimester abortions in a groundbreaking step in Latin America. The Senate had already approved a more liberal version of the proposed law, but concessions made to gain the votes of more socially conservative members of Uruguay's lower house forced a second vote.

  • Exxon buys Celtic Exploration for $2.6B Wednesday, 17 Oct 2012 | 1:45 PM ET

    CALGARY, Alberta-- A Canadian subsidiary of Exxon Mobil is acquiring the oil and gas exploration firm Celtic Exploration Ltd. for $2.63 billion. ExxonMobil Canada gets access to 649,000 acres in two shale formations, the Montney and Duvernay, as well as additional acreage in other parts of Alberta, the company said.

  • *CME Group to acquire KCBT in $126 million deal Wednesday, 17 Oct 2012 | 1:42 PM ET
  • News Summary: AMR loses $238M in 3rd quarter Wednesday, 17 Oct 2012 | 1:40 PM ET

    RED SKIES: AMR Corp. lost $238 million in the third quarter due to charges associated with its reorganization in bankruptcy court. That compares with a loss of $162 million in the year-earlier quarter. ASIDE FROM THAT: The parent of American Airlines said otherwise it performed well in the three-month period.

  • Cree shares rise on fiscal 1Q and 2Q outlook Wednesday, 17 Oct 2012 | 1:33 PM ET

    NEW YORK-- Shares of Cree Inc. jumped Wednesday after the LED product maker reported solid fiscal first-quarter results and offered a second-quarter forecast close to Wall Street estimates. The light-emitting diode products maker said net income rose 26 percent in the first quarter, to $16.1 million, or 14 cents per share.

  • SEC launches inquiry of bankrupt San Bernardino Wednesday, 17 Oct 2012 | 1:27 PM ET

    SAN BERNARDINO, Calif.-- Federal regulators are looking into the finances of San Bernardino as the city makes its way through bankruptcy proceedings. The U.S. Securities and Exchange Commission has launched an informal inquiry, the Los Angeles Times reported Wednesday.

  • Apollo Group shares plunge on 4Q results, closures Wednesday, 17 Oct 2012 | 1:21 PM ET

    Apollo Group Inc.' s shares plunged Wednesday after the for-profit education company reported a disastrous fourth-quarter and announced plans to close some of its University of Phoenix schools. THE SPARK: Apollo Group reported late Tuesday that its fourth-quarter profit fell 60 percent due to higher costs and declining enrollment.

  • US box office gains momentum in 4Q Wednesday, 17 Oct 2012 | 1:20 PM ET

    LOS ANGELES-- A stronger than expected start to movie theater attendance in the fourth quarter and a smaller decline in the third quarter than forecast prompted a Nomura analyst to tweak his profit estimate for Regal Entertainment Group on Wednesday.