BEIJING, April 27- Profits earned by Chinese industrial firms fell 0.4 percent in March from a year earlier to 508.61 billion yuan, the National Bureau of Statistics said on Monday. For the first quarter of this year, profits are down 2.7 percent from a year earlier to 1.25 trillion yuan, the bureau said. The world's second-largest economy grew at its slowest pace in...» Read More
NEW YORK-- Shares of XenoPort Inc. fell Friday after a Piper Jaffray analyst downgraded the stock, saying the company's experimental multiple sclerosis drug is years away from marketing approval or a development partnership.
Wheat for December delivery fell 29.25 cents to finish at $8.5675 per bushel. The weekend rains are expected to help winter wheat crops that have been plagued by dry weather in western Kansas, western Nebraska and eastern Colorado.
BETHESDA, Md.-- DiamondRock Hospitality's fiscal third-quarter results improved as room rates climbed, but the company lowered its 2012 adjusted funds from operations forecast and issued fourth-quarter guidance below Wall Street's view.
PARIS-- The Paris prosecutor's office says it has opened a preliminary investigation into scarf and bag maker Hermes' claim that luxury giant LVMH Moet Hennessy Louis Vuitton engaged in insider trading and share manipulation when it took a stake in its rival.
NEW YORK-- Shares of discount store chain Dollar Tree fell on Friday after an analyst downgraded the stock on weakening sales trends. THE SPARK: Jefferies analyst Daniel Binder said in a note to investors that revenue in stores open at least one year, a key retail metric, have been decelerating at Dollar Tree.
TOP- LINE GAINS: Wells Fargo posted record earnings in the third quarter. Wells' net income in the quarter ended Sept. 30 rose 23 percent, to $4.72 billion from $3.84 billion in the same period last year. New mortgage loan originations rose to $139 billion from $89 billion in last year's third quarter.
NEW YORK-- A Citigroup analyst on Friday downgraded the shares of Seagate Technology PLC and Western Digital Corp., two leading makers of hard drives, to "Sell" from "Buy" because he sees weakness not just in the PC sector, but in corporate spending on servers and storage arrays, which also use hard drives.
WASHINGTON-- The federal budget deficit has topped $1 trillion for a fourth straight year. The Treasury Department said Friday that the deficit for the 2012 budget year totaled $1.1 trillion.
A Thursday bankruptcy court hearing involving retired Atlanta police Detective Jaqueline Barber's home in Fayetteville did not go her way, said Tim Franzen, a leader of Occupy Our Homes ATL. Franzen said more than 30 people were camped out in the yard on Friday, and several of the officers who worked with Barber on the Atlanta force joined the effort.
PROVIDENCE, R.I.-- A nonprofit that promotes urban ecology in part through environmental job training has transformed a contaminated lot in Providence into a nursery with 300 trees. Groundwork Providence on Friday morning marked the opening of the Hope Tree Nursery in the city's Elmwood section.
Shares of online travel companies fell Friday after Travelzoo Inc. warned investors that its third-quarter profit would likely shrink 40 percent from the prior year. Online travel companies such as Travelzoo, Expedia Inc. and Priceline.com Inc. are in intense competition for customers, who remain somewhat cautious about their spending.
BOISE, Idaho-- The lawyer for a would-be Tamarack Resort buyer under federal indictment wants off the fraud case, citing deep communication problems over legal strategy and a potential conflict of interest.
NEW YORK-- Shares of Sears Holdings Corp.' s spinoff of its Hometown and Outlet Stores are rising on their debut trading day. The Hoffman Estates, Ill., company, which runs Kmart and Sears stores, had signaled in February that it would split off Sears Hometown and Outlet Stores Inc. as a separate publicly traded entity.
Texas- based oilfield services company Baker Hughes Inc. reported Friday that 1,411 rigs were exploring for oil and 422 were searching for gas. Of the major oil- and gas-producing states, Texas gained four rigs while Alaska, New Mexico and Oklahoma gained one apiece. Arkansas, Colorado, North Dakota and Wyoming lost one rig apiece.