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  • News Summary: Moody's confirms Spain's rating Tuesday, 16 Oct 2012 | 10:07 PM ET

    RATING CONFIRMED: Moody's Investors Service on Tuesday confirmed its rating on Spain's government debt at "Baa3", its lowest investment-grade rung. OUTLOOK NEGATIVE: The agency, meanwhile, assigned a negative outlook to the rating, signaling that a downgrade is still possible in the coming months.

  • News Summary: Intel sees weak 4Q Tuesday, 16 Oct 2012 | 9:47 PM ET

    SANTA'S DETOUR: Intel expects the usual holiday bounce in PC sales to be cut in half this year, due to a confluence of factors. THIRD QUARTER: After cutting its forecast twice, Intel beat expectations. THE OUTLOOK: For the fourth quarter, Intel expects revenue of $13.6 billion, slightly below analyst expectations.

  • Summary Box: University of Phoenix trims locations Tuesday, 16 Oct 2012 | 9:43 PM ET

    LOWER PROFIT: Apollo Group Inc. reported that its net income fell 60 percent in its fiscal fourth quarter, as the for-profit education company's revenue declined 11 percent amid a sharp drop in student enrollment at University of Phoenix.

  • News Summary: IBM delivers mixed bag in 3Q Tuesday, 16 Oct 2012 | 9:37 PM ET

    HOLDING STEADY: IBM's third-quarter profit of $3.8 billion was unchanged from a year ago. Earnings per share though worked out to $3.33 per share, a gain from $3.19 per share a year ago because IBM Corp. has less stock outstanding now. Revenue also fell 5 percent from the same time last year amid economic weakness in Europe.

  • News Summary: News Corp shareholder protests fail Tuesday, 16 Oct 2012 | 9:32 PM ET

    SHAREHOLDER SHUTDOWN: Three shareholder proposals aimed at diluting the control of News Corp. by the family of Rupert Murdoch were defeated Tuesday, but a couple proposals had significant support from independent shareholders.

  • News Corp. shareholder protest votes defeated Tuesday, 16 Oct 2012 | 9:02 PM ET

    LOS ANGELES-- News Corp. managed to avoid rowdy protests at its annual shareholders meeting Tuesday, but that didn't stop stockholders from voicing complaints about the grip on the company held by founder and CEO Rupert Murdoch and his family.

  • State considers cost probe at ailing nuke plant Tuesday, 16 Oct 2012 | 8:45 PM ET

    LOS ANGELES-- State regulators will consider whether to investigate soaring costs at the shuttered San Onofre nuclear power plant _ and who should pay them. The plant located between Los Angeles and San Diego hasn't produced power since Jan. 31. The Public Utilities Commission said Tuesday it plans the vote for Oct. 25.

  • Hurricane Paul weakens to tropical storm off Baja Tuesday, 16 Oct 2012 | 8:34 PM ET

    LOS CABOS, Mexico-- Hurricane Paul weakened into a tropical storm Tuesday as it neared landfall on a sparsely populated stretch of Mexico's southern Baja peninsula.

  • News Summary: Coca-Cola, Sanofi partner on drinks Tuesday, 16 Oct 2012 | 8:05 PM ET

    DRINK UP: The Coca-Cola Co. and drug maker Sanofi are partnering to launch a line of "beauty drinks" in France. SMALL TEST: Coca-Cola declined to give details but said in a statement that the drinks will be sold in a "small scale pilot" limited to a number of pharmacies in the country.

  • Linear Technology 1Q net declines Tuesday, 16 Oct 2012 | 7:42 PM ET

    MILPITAS, Calif.-- Circuit maker Linear Technology Corp. said Tuesday that its first-quarter net income fell because of weak orders, and it warned that second-quarter revenue would be weaker than in the quarter it just wrapped up. The company said it earned $105.2 million, or 45 cents per share, for the quarter that ended Sept. 30.

  • Moody's confirms Spain's rating, outlook negative Tuesday, 16 Oct 2012 | 7:11 PM ET

    Moody's Investors Service on Tuesday confirmed its rating on Spain's government debt but assigned a negative outlook, signaling that a downgrade is still possible in the coming months. Moody's kept Spain's rating at "Baa3", its lowest investment-grade rung.

  • On the Call: Intel CEO Otellini on PCs and tablets Tuesday, 16 Oct 2012 | 6:58 PM ET

    Intel Corp. forecast a weak holiday season, in part because tablets, which typically don't use Intel chips, are cutting into PC sales. Intel is hoping to get more of its chips into tablets, helped by the release of a tablet-friendly new version of Windows.

  • CH Robinson sells off payments business for $302M Tuesday, 16 Oct 2012 | 6:55 PM ET

    MINNEAPOLIS-- Trucking and logistics company C.H. Robinson Worldwide Inc. said on Tuesday that it sold its payment services business for $302.5 million. T-Chek has been a unit of C.H. Robinson since 1984. It has 190 workers, most of them based in Minnesota. C.H. Robinson said the new owners expect to "retain a Minnesota presence.

  • Clarification: Meningitis Outbreak-Lawsuits story Tuesday, 16 Oct 2012 | 6:54 PM ET

    In a story on Oct. 10, The Associated Press reported that Ameridose LLC had settled a defamation and slander suit against one of its customers, Novation, that had alleged the pharmacy had quality control problems.

  • Lawmakers seeking Justice Dept. probe of pharmacy Tuesday, 16 Oct 2012 | 6:54 PM ET

    BOSTON-- Two members of Congress have asked the U.S. Department of Justice to investigate whether a specialty pharmacy linked to a nationwide meningitis outbreak violated any federal laws or regulations. Criminal investigators from the Food and Drug Administration were at the Framingham company Tuesday, company spokesman Andrew Paven said.

  • Intuitive Surgical 3Q income jumps; shares slide Tuesday, 16 Oct 2012 | 6:43 PM ET

    SUNNYVALE, Calif.-- Intuitive Surgical Inc. said Tuesday its net income jumped 50 percent in the third quarter on greater sales of its robotic surgery systems. The company said economic conditions in Europe and changes in prostate cancer treatment reduced da Vinci system use.

  • 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.