RIYADH, Oct 26- Saudi Basic Industries Corp, one of the world's largest petrochemicals groups and the Gulf's largest listed company, reported a 4.5 percent drop in third-quarter net income on Sunday, missing analysts' forecasts. It earned 6.18 billion riyals in the quarter, compared to 6.47 billion riyals in the year-earlier period, SABIC reported in a bourse...» Read More
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.
NEW YORK-- A Bangladeshi man who came to the United States to wage jihad was arrested in an elaborate FBI sting on Wednesday after attempting to blow up a fake car bomb outside the Federal Reserve building in Manhattan, authorities said.
A surprisingly strong housing report helped push stocks modestly higher, even as weak earnings reports from Intel and IBM weighed on the Dow Jones industrial average. IBM reported sales late Tuesday that dropped below Wall Street's expectations, while Intel warned that sales of personal computers will likely remain weak during the holiday season.
THE SPARK: According to a filing with the Securities and Exchange Commission, Green Mountain hired Gerard Geoffrion, currently head of its business in Canada, to serve as its president of international business development.
Cotton for December delivery surged 3 cents, its daily limit, to 77.86 cents per pound. METALS SHINE: Gold rose $6.70 to settle at $1,753 an ounce, silver rose 27.3 cents to $33.232 an ounce and copper rose 4.8 cents to $3.748 per pound.
NEW YORK-- IBM's stock is down more than 5 percent after the company reported disappointing third-quarter revenue and suggested demand in key markets may be slowing. Shares are down $10.69, or 5.1 percent, to $200.31 in late afternoon trading. It came to $24.7 billion, $700 million less than analysts expected.
Benchmark oil gained 3 cents to $92.12. That was almost double what analysts had forecast, according to Platts, the energy information arm of McGraw-Hill Cos. Brent crude, which is used to price international varieties of oil, fell 78 cents to $113.22 per barrel on the ICE Futures exchange in London.
OMAHA, Neb.-- Irrigation system maker Lindsay Corp. said Wednesday that its fiscal fourth-quarter net income jumped 48 percent, boost by higher demand from farmers. For the quarter ended Aug. 31, the Omaha, Neb.- based company made $8.8 million, or 68 cents per share, up from $5.9 million, or 46 cents per share, in the same quarter last year.
CHICAGO-- Grains futures rose Wednesday on the Chicago Board of Trade. Wheat for December delivery gained 8.5 cents to $8.5625 per bushel; December corn rose 7.25 cents to $7.455 per bushel; December oats increased 3.25 cents to $3.9575 per bushel and November soybeans gained 15.5 cents to $15.0925 per bushel.
Cotton for December delivery surged 3 cents, its daily limit, to 77.86 cents per pound. Jack Scoville of Price Futures Group said the gain came on speculative buying and rumors of short supplies.
EXIT: Royal Bank of Scotland, which was rescued in Britain's biggest bank bailout, is leaving a government emergency insurance program that helped stabilize the company after it nearly collapsed.
NEW YORK-- Celebrating a design 40 years in the making, dignitaries on Wednesday dedicated a new memorial park to President Franklin Roosevelt overlooking the United Nations that he helped found.
NEW YORK-- Can't figure out how to dress as a binder full of women for Halloween? The Yellow One is flying off the shelves after Mitt Romney's threat to do away with government support for PBS.
NEW ORLEANS-- The NFL is again urging a federal judge to avoid interfering in Commissioner Roger Goodell's efforts to discipline four players for the Saints' cash-for-hits bounty pool.
NEW YORK-- Shares of St. Jude Medical Inc. declined Wednesday after the medical device maker cut its 2012 revenue estimate and said it may get a warning from federal regulators about a defibrillator plant in California.
Among the earnings stories for Wednesday, Oct. 17, from The Associated Press:. _ Medical device maker St. Jude Medical Inc. reported third-quarter earnings that beat expectations, though company shares slumped as the executives warned that the company could receive a regulatory warning over a California manufacturing plant.
Among the earnings stories for Wednesday, Oct. 17, from The Associated Press:. _ U.S. Bancorp's net income leapt 14 percent in the third quarter as the regional bank made more loans to companies and people seeking mortgages. _ Northern Trust Corp. said its third-quarter net income rose 5 percent due to higher fees from clients for managing their money.
CAIRO-- Syria's wealthy, long cultivated by President Bashar Assad as a support for his regime, are seeing their businesses pummeled by the bloody civil war. Assad may not have lost the backing of Syria's business elite, but some are losing faith.
Among the earnings stories for Wednesday, Oct. 17, from The Associated Press:. _ Halliburton Co. said a decline in revenue in its core North America market was largely responsible for a 12 percent decline in third-quarter profit.
CLEVELAND-- Parker Hannifin Corp., which makes industrial hoses, airplane wheels and other products, said Wednesday that it has agreed to buy Sea Recovery from Denmark's Danfoss A/S. Cleveland- based Parker Hannifin will assume ownership of the business on Nov. 1. Parker Hannifin shares rose $1.85, or 2.3 percent, to $83.82 in afternoon trading Wednesday.