Latest Business News Wires - Business Headlines


  • Pfizer says Chantix met goals in depression study Tuesday, 16 Oct 2012 | 6:39 PM ET

    NEW YORK-- Pfizer Inc. said Tuesday a clinical trial showed its anti-smoking treatment Chantix was safe and effective in patients with depression. EU regulators and the U.S. Food and Drug Administration both approved Chantix in 2006. Sales approached $900 million in 2007 but have slipped because of concerns about the drug's side effects.

  • News Summary: CSX 3Q rail profit dips 2 pct. Tuesday, 16 Oct 2012 | 6:36 PM ET

    SWITCHING TRACKS: CSX Corp. says its third-quarter profit and revenue both declined 2 percent because the railroad hauled fewer carloads and the mix of goods it carried changed. COAL CRUNCH: CSX hauled 16 percent less coal overall during the quarter as demand for coal from domestic utilities remained weak.

  • First Solar to help build solar plant in Indonesia Tuesday, 16 Oct 2012 | 6:32 PM ET

    First Solar Inc. and PT. First Solar said that Indonesia has an increasingly urgent need for reliable, cost-effective energy resources and the company believes the market has great potential to make solar power part of that mix. Shares of First Solar jumped $1.84, or more than 8 percent, to close at $24.09.

  • United Rentals Q3 net income up 12.3 pct. Tuesday, 16 Oct 2012 | 6:32 PM ET

    GREENWICH, Conn.-- United Rentals Inc. said Tuesday that its third-quarter profit rose 12.3 percent as revenue surged amid demand for its industrial and commercial rental equipment. Greenwich, Conn.- based United Rentals, with more than 800 locations in the U.S. and Canada, calls itself the largest equipment rental company in the world.

  • Hurricane Paul weakening as it races toward Baja Tuesday, 16 Oct 2012 | 6:26 PM ET

    LOS CABOS, Mexico-- Hurricane Paul was weakening rapidly and was "barely a hurricane" as it raced toward landfall Tuesday on a sparsely populated stretch of Mexico's southern Baja peninsula.

  • Helix Energy to sell 3 vessels for $252.8M Tuesday, 16 Oct 2012 | 6:17 PM ET

    HOUSTON-- Offshore energy services contractor Helix Energy Solutions Group Inc. said Tuesday that it will sell three pipeline installation vessels and related equipment in two separate transactions valued at $252.8 million.

  • Sonic Corp. fiscal 4Q net income rises 18 percent Tuesday, 16 Oct 2012 | 6:07 PM ET

    NEW YORK-- Sonic Corp. said Tuesday that its net income rose 18 percent in its fiscal fourth quarter despite a slight drop in revenue, partly because of lower sales at company drive-in restaurants. The Oklahoma City company's results beat Wall Street expectations and its shares rose nearly 3 percent in after-hours trading.

  • Annaly Capital board OKs $1.5B share buyback Tuesday, 16 Oct 2012 | 5:59 PM ET

    NEW YORK-- Annaly Capital Management Inc. on Tuesday said its board authorized the real estate investment trust to buy back as much as $1.5 billion worth of its outstanding common stock over a 12- month period. Shares of Annaly rose 15 cents, or about 1 percent, to close at $15.72.

  • Fortinet 3Q net down 4 pct., even as revenue grew Tuesday, 16 Oct 2012 | 5:54 PM ET

    SUNNYVALE, Calif.-- Network security provider Fortinet Inc. said Tuesday that its third-quarter net income fell 4 percent as expenses grew. The company said net income for the quarter that ended Sept. 30 was $17.2 million, or 10 cents per share. Fortinet shares rose 5 cents to close at $24.80 before the results were released.

  • Moody's confirms Spain's bond rating Tuesday, 16 Oct 2012 | 5:48 PM ET

    Moody's Investors Service has confirmed Spain's government bond rating and assigned a negative outlook.

  • Citi's long run of stumbles, successes, near-death Tuesday, 16 Oct 2012 | 5:41 PM ET

    In between its founding and its near-death, the company now called Citigroup has played a central role in U.S. financial history. On Tuesday, Corbat was named Citi's new CEO after the abrupt departure of Vikram Pandit, who had led the company through the financial crisis and its aftermath.

  • Varied returns for 3 Wed. shows; 'Arrow' a CW hit Tuesday, 16 Oct 2012 | 5:34 PM ET

    ABC, NBC and the CW all debuted new dramas last Wednesday to varied receptions. It finished a strong second behind CBS' long-running "CSI: Crime Scene Investigation" at the 10 p.m. ET slot. Despite that showing, long-slumping NBC can boast about its best showing for an early TV season in a decade.

  • In a surprise, Pandit steps down as Citigroup CEO Tuesday, 16 Oct 2012 | 5:32 PM ET

    Vikram Pandit, who steered Citigroup through the 2008 financial crisis and the choppy years that followed, abruptly left the bank on Tuesday, stepping down as CEO and as a director. The move shocked Wall Street, and Citigroup offered no explanation.

  • University of Phoenix closing 115 locations Tuesday, 16 Oct 2012 | 5:29 PM ET

    Apollo Group Inc. said Tuesday that its fiscal fourth-quarter net income tumbled 60 percent, hurt by higher costs and declining enrollment at the University of Phoenix.

  • News Summary: Kroger lifts long-term guidance Tuesday, 16 Oct 2012 | 5:09 PM ET

    ATTENTION SHOPPERS: Kroger Co. is forecasting stronger growth in the years ahead, as company executives outlined plans to expand into new and existing markets, as well as grow the core business. CASHING IN: The Cincinnati- based company now expects earnings per share to grow 8 to 11 percent, up from the previous forecast of 6 to 8 percent.

  • FDA panel votes to support NPS Pharma bowel drug Tuesday, 16 Oct 2012 | 5:03 PM ET

    NEW YORK-- A Food and Drug Administration advisory panel on Tuesday recommended that the FDA approve NPS Pharmaceuticals Inc.' s experimental bowel drug Gattex. The positive recommendation from the Gastrointestinal Drugs Advisory Committee makes it more likely the FDA will approve Gattex, although does not guarantee approval.

  • Nielsen's top prime-time programs for Oct. 8-14 Tuesday, 16 Oct 2012 | 4:59 PM ET

    2. "NCIS," CBS, 18.51 million. 4. "NCIS: Los Angeles," CBS, 15.18 million. 5. "The Big Bang Theory," CBS, 14.23 million.

  • Varied returns for 3 Wed. shows; CW's 'Arrow' tops Tuesday, 16 Oct 2012 | 4:58 PM ET

    ABC, NBC and the CW all debuted new dramas last Wednesday to varied receptions. NBC's " Chicago Fire" was a disappointment in the same time slot. NBC continued its best start in a decade in the ratings.

  • Watson Pharma climbs as FTC approves Actavis deal Tuesday, 16 Oct 2012 | 4:58 PM ET

    PARSIPPANY, N.J.-- Shares of Watson Pharmaceuticals Inc. reached new highs Tuesday after the Federal Trade Commission cleared its acquisition of Swiss drugmaker Actavis Group. Watson and Actavis will sell three approved products to Sandoz, a unit of Novartis AG, including generic versions of the antidepressant Wellbutrin XL and the anxiety drug Ativan.

  • Mattel, Murphy Oil, WD-40 are market movers Tuesday, 16 Oct 2012 | 4:57 PM ET

    NEW YORK-- Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:. Murphy Oil Corp., up $4.74 at $63.74. Murphy Oil is spinning off its retail gasoline business into a separate company to focus on oil exploration and production.