For decades, Chinese economic policymakers have drawn praise for keeping their economy growing strongly through turbulence, such as the Asian financial crisis of 1997-1998 and the worldwide financial tumult of 2008. But investors have begun to lose faith in Beijing's economic management. The intervention undermined Beijing's pledge to give market...» Read More
TRENTON, N.J.-- Shares of RR Donnelley fell and then partially recovered Thursday amid news the printer and communications consultant had mistakenly filed a draft version of client Google Inc.' s third-quarter financial results to the Securities and Exchange Commission hours before the final version was to be submitted.
MINNEAPOLIS-- In a story Oct. 17 about Select Comfort's Corp.' s earnings, The Associated Press reported erroneously that the company expects fourth-quarter sales to grow at least 20 percent, which would result in 2012 revenue of about $927.3 million. Select Comfort shares slip on plans for bigger spending.
GROWING AGAIN: Manufacturing in the Philadelphia region expanded in October following five months of declines. THE DETAILS: The Federal Reserve Bank of Philadelphia reported Thursday that its index of regional manufacturing activity had a reading of 5.7 in October following a -1.9 reading in September. The gain took the Philadelphia index.
COVINGTON, La.-- Pool Corp., a distributor of swimming pool and backyard supplies, said Thursday that its net income fell 12 percent in the third quarter on an impairment charge related to its U.K. business. Pool wrote down the value of its U.K. business by $6.9 million during the quarter.
Among the earnings stories for Thursday, Oct. 18, from AP Business News:. _ Life Time Fitness Inc. said that its third-quarter profit rose 19 percent as more people joined its gyms and spent more money at them.
Shares of Abbott Laboratories slid Thursday because the company's partner on a potential kidney disease drug is stopping a late-stage study due to safety concerns.
Among the earnings stories for Thursday, Oct. 18, from AP Business News:. _ Nucor Corp.' s third-quarter net income plunged 39 percent on lower sales and prices as demand for steel fell in the sluggish global economy.
SALT LAKE CITY-- Utah officials say the state's unemployment rate dropped to 5.4 percent for the month of September. The data released Thursday by the state Department of Workforce Services shows that 73,100 Utah residents were out of work in September. The data shows that Utah has added about 24,400 jobs over the past 12 months.
MONTGOMERY, Ala.-- Amendment 7 on Alabama's ballot looks like a simple measure to preserve the right to a secret ballot. Kurt Wallace of Maplesville, said he wants to stop union organizers from harassing employees who won't sign a card. Al Henley, president of the Alabama AFL-CIO, says there is harassment, but it's from the other side.
Among the earnings stories for Thursday, Oct. 18, from AP Business News:. _ Morgan Stanley reported higher revenue and net income for its third quarter thanks to gains in its bonds and asset management businesses.
NEW YORK-- Shares of Greenhill& Co. Inc. dropped 8 percent Thursday after the investment management company reported flat profit for the third quarter.
Among the earnings stories for Thursday, Oct. 18, from AP Business News:. _ Google Inc.' s stock plunged after a contractor released the search company's third-quarter earnings report early, by mistake.
Go Daddy on Thursday announced it had signed New York agency Deutsch Inc. to produce its two 30- second Super Bowl spots, the first time the website domain provider has gone outside for the ads it has done itself since 2005..
NEW YORK-- Growth in third-quarter profit and revenue drove up shares of eBay Inc. Thursday, although some analysts called the e-commerce company's outlook cautious. THE SPARK: EBay Inc. reported a 22 percent increase in its net income due to growth at its PayPal payments service and the marketplaces business that includes eBay.com.
Google plunged 9 percent after it accidentally released a weak earnings report hours ahead of schedule. "This is a market that's waiting for a clear catalyst," said Quincy Krosby, market strategist at Prudential Financial. Google's stock dropped $68.19 to $687.30 before trading was suspended.
Among the stock activity stories for Thursday, Oct. 18, from AP Business News:. _ Shares of Mellanox Technologies Ltd. fell after the semiconductor maker issued a disappointing revenue outlook for the current quarter and full year.
Among the stock activity stories for Thursday, Oct. 18, from AP Business News:. _ Shares of Vivus Inc. fell after an analyst said Wall Street may be over-estimating gains from initial sales of the drug developer's obesity treatment Qsymia.
NEW YORK-- Consumers are expected to only slightly increase their holiday budgets for items like decor, greeting cards and gifts this year compared with a year ago, the nation's largest retail trade group says. The National Retail Federation says shoppers are expected to spend $749.51 in November and December.
CARSON CITY, Nev.-- The number of Nevadans filing initial claims for jobless benefits fell in September to the lowest level in five years.
BALTIMORE-- A Maryland chicken farmer at the center of a pollution lawsuit that could affect the state's poultry industry said Thursday that the battle has been stressful for his family and has made him paranoid. Alan Hudson, who raises chickens for poultry giant Perdue, is being sued by a New York- based environmental group.