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  • Forest Labs 2Q profit down, cuts year forecasts Tuesday, 16 Oct 2012 | 11:40 AM ET

    NEW YORK-- Forest Laboratories Inc. again cut its annual net income guidance and lowered its sales estimates Tuesday, citing lower sales of its Alzheimer's disease drug Namenda and other products along with greater expenses and higher taxes. Shares of Forest declined 91 cents, or 2.5 percent, to $35.69 in morning trading.

  • News Summary: Airline execs urge security overhaul Tuesday, 16 Oct 2012 | 11:38 AM ET

    CUTTING THE LINES: Airport security needs a radical overhaul to avoid more disgruntled passengers, longer lines and overwhelmed terminals, airline executives said at a global aviation conference in Abu Dhabi.

  • AmeriGas predicts net income above St. view Tuesday, 16 Oct 2012 | 11:37 AM ET

    NEW YORK-- Propane company AmeriGas Partners LP on Tuesday predicted net income for its current fiscal year that is above Wall Street expectations, if this winter has "normal" weather. For another profit measure that excludes interest expense, income taxes, acquisition costs and other one-time items, AmeriGas now expects $630 to $660 million.

  • IMF: pace of austerity must depend on economy Tuesday, 16 Oct 2012 | 11:34 AM ET

    PARIS-- The pace at which countries like Greece and Spain cut their deficits with austerity measures must depend on their economic conditions, International Monetary Fund Managing Director Christine Lagarde said Tuesday.

  • Savor the terroir, mer-roir?, of a farmed oyster Tuesday, 16 Oct 2012 | 11:27 AM ET

    A fast-growing cadre of Chesapeake Bay oyster farmers are banking on it. York River oysters, grown closer to the mouth of the Chesapeake Bay, are salty-sweet. Maryland officials overseeing the leasing of the waterways are eager to follow the example set in Virginia, which last year sold more than 23 million farmed oysters, up from fewer than 1 million in 2005..

  • Stocks higher on 3Q profits; Mattel jumps Tuesday, 16 Oct 2012 | 11:26 AM ET

    Inflation is low, earnings are high, investors are happy. Results at Mattel, Goldman Sachs, and Johnson& Johnson were all above expectations. Also Tuesday, the Labor Department said consumer prices rose just 0.1 percent last month, not counting food and energy costs.

  • News Summary: Mattel 3Q results beat expectations Tuesday, 16 Oct 2012 | 11:22 AM ET

    THE NEWS: Toy maker Mattel said Tuesday that cost cuts and higher revenue from toys including Monster High dolls and Fisher-Price helped send net income up 22 percent in the third quarter. But results indicate that Mattel is outperforming its rivals so far as it heads into the crucial holiday season, when toy makers can earn up to 40 percent of annual revenue.

  • AP source: Beyonce set for Super Bowl halftime Tuesday, 16 Oct 2012 | 11:21 AM ET

    A source familiar with Super Bowl XLVII told The Associated Press the Grammy-winning diva will take the stage at the halftime show on Feb. 3, 2013, at the Mercedes-Benz Superdome in New Orleans. The 31- year-old sang the national anthem at Super Bowl XXXVIII in 2004 in her hometown of Houston when the New England Patriots defeated the Carolina Panthers.

  • Division series' TV ratings down from last year Tuesday, 16 Oct 2012 | 11:18 AM ET

    NEW YORK-- Television ratings for baseball's division series are down from last year. Its two division series broadcasts _ Game 2 of Detroit- Oakland and Game 3 of St. Louis- Washington _ averaged a network-record 1.2 million viewers, whereas two afternoon games on TBS last season averaged nearly twice that. TBS is a unit of Time Warner Inc..

  • Vikings fans share ideas for new football stadium Tuesday, 16 Oct 2012 | 11:17 AM ET

    MINNEAPOLIS-- Minnesota Vikings fans expressed strong opinions late Monday about features they want in the team's new stadium, from a retractable roof and more leg room _ to it being shaped like a giant castle.

  • Red Sox keep ticket prices unchanged for 2013 Tuesday, 16 Oct 2012 | 11:15 AM ET

    BOSTON-- The Boston Red Sox are keeping ticket prices unchanged for 2013 after their worst season in nearly 50 years. Individual prices range from $12 for the upper bleachers to $165 for a seat above the Green Monster in left field. The Red Sox went 69-93, missing the playoffs for the third straight year.

  • Kings sign naming rights deal for arena Tuesday, 16 Oct 2012 | 11:15 AM ET

    SACRAMENTO, Calif.-- The Sacramento Kings will have a new name for their arena. The arena in Sacramento was called Power Balance Pavilion last season but the Kings were looking for a new partner after Power Balance filed for bankruptcy. The Kings' home opener this season is Nov. 5 against the Golden State Warriors.

  • Bob Knight selling rings, medal at auction Tuesday, 16 Oct 2012 | 11:13 AM ET

    NEW YORK-- Hall of Famer Bob Knight is selling his championship basketball rings and Olympic gold medal for what he considers a very good reason: the education of his grandchildren.

  • W.Va. governor seeks more individual storm aid Tuesday, 16 Oct 2012 | 11:11 AM ET

    CHARLESTON, W.Va.-- West Virginia Gov. In September, FEMA approved individual assistance for residents in Fayette, Kanawha, Nicholas and Raleigh counties after Tomblin appealed the agency's initial denial of aid.

  • Basic Energy cuts 3Q outlook, gets SEC subpoena Tuesday, 16 Oct 2012 | 11:10 AM ET

    FORT WORTH, Texas-- Basic Energy Services, which provides services for oil and gas wells, lowered its third-quarter revenue forecast Tuesday, as some of its September results came in weaker than expected.

  • Foreign holdings of US debt hit record $5.43T Tuesday, 16 Oct 2012 | 11:09 AM ET

    The Treasury Department says total foreign holdings rose to a record $5.43 trillion in August. And Japan increased its holdings 0.5 percent to $1.12 billion. Japan now trails China's holdings by just $32.1 billion.

  • Coca-Cola's profit up even as sales disappoint Tuesday, 16 Oct 2012 | 11:09 AM ET

    NEW YORK-- The Coca-Cola Co. has a formula for growth in the volatile economic climate: sell more of its drinks in emerging markets and evolve its stable of products at home, where concerns over sugary drinks are intensifying.

  • Earnings Preview: Tougher 3Q at P. Morris Int'l Tuesday, 16 Oct 2012 | 11:02 AM ET

    RICHMOND, Va.-- Cigarette maker Philip Morris International Inc., which sells Marlboro and other brands abroad, expects a slowdown in the third quarter as it laps large cigarette volume gains last year. Philip Morris International has compensated for consumers buying fewer, or cheaper, cigarettes _ and for the weak economy _ by cutting costs and raising prices.

  • Arizona Commerce Authority board may pick new CEO Tuesday, 16 Oct 2012 | 11:00 AM ET

    The Arizona Commerce Authority board's agenda for a closed execution session during its meeting Tuesday includes an update on the search for a new CEO. The quasi-private authority gets $35 million of state funding annually, including $25 million for grants to help attract, expand or retain businesses.

  • Maine heating oil price up 5 cents per gallon Tuesday, 16 Oct 2012 | 11:00 AM ET

    AUGUSTA, Maine-- Maine energy officials say the current statewide average cash price for home heating oil has risen by 5 cents per gallon in the past week. The Governor's Energy Office says this week's average price is $3.75 per gallon, 25 cents higher than it was at the same time last year.