×

CNBC Utilities Page Wires

  • LONDON, April 25- British laboratory tests on the fire safety of building materials are inadequate, research for the insurance industry in the wake of the Grenfell Tower fire showed on Wednesday. Test fires for buildings only use wood, whereas plastic makes up 20 percent of the material in actual fires, according to the research commissioned by the Association...

  • CHICAGO _ Tootsie Roll Industries Inc. on Tuesday reported first-quarter net income of $8.1 million. On a per-share basis, the Chicago- based company said it had profit of 13 cents. This story was generated by Automated Insights using data from Zacks Investment Research.

  • Federal prosecutors in Boston said PixarBio Corp CEO Frank Reynolds solicited investors with false and misleading claims that he was a successful inventor with a product that would end "thousands of years of morphine and opioid addiction." Prosecutors said two of his associates, M. Jay Herod and Kenneth Stromsland, beginning in November 2016 while in close...

  • GLENDALE, Calif. _ PS Business Parks Inc. on Tuesday reported a key measure of profitability in its first quarter. The Glendale, California- based real estate investment trust said it had funds from operations of $55.6 million, or $1.59 per share, in the period. The company said it had net income of $46 million, or $1.69 per share.

  • MACKINAW CITY, Mich.— Officials say underwater photos show two electric cables were severed in what Michigan's attorney general says was a tugboat anchor strike in the waterway that connects Lake Huron and Lake Michigan. An investigative team led by the U.S. Coast Guard said Tuesday a remotely controlled vehicle had obtained images of the damage site beneath...

  • MIDLOTHIAN, Texas _ Ennis Inc. on Tuesday reported fiscal fourth-quarter profit of $8.3 million. The Midlothian, Texas- based company said it had profit of 33 cents per share. For the year, the company reported profit of $32.9 million, or $1.30 per share.

  • April 24- Edwards Lifesciences Corp's first-quarter sales for transcatheter heart valves missed Wall Street targets on Tuesday, as the medical device maker lost market share in Europe to its rival, Medtronic Plc.. "Procedure growth in Europe was double digits this quarter, while our growth was lower due to a year-over-year shift in share to our largest...

  • WASHINGTON, April 24- The Republican tax law's new deduction for pass-through businesses, intended to help small businesses, was "ill thought through" and will end up benefiting the wealthy, experts told the U.S. Senate Finance Committee on Tuesday at a hearing on the law's early impacts. The tax overhaul, which sailed through the Republican-controlled U.S....

  • HARRISBURG, Pa. _ Hersha Hospitality Trust on Tuesday reported a key measure of profitability in its first quarter. The average estimate of eight analysts surveyed by Zacks Investment Research was for a funds from operations loss of 2 cents per share. For the current quarter ending in July, Hersha Hospitality expects its per-share funds from operations to...

  • NEW YORK— Sinclair Broadcast Group will sell nine TV stations to Standard Media Group for $441.7 million as part of its plan to meet regulatory approval for its pending $3.9 billion acquisition of Tribune Media. At the time, President Donald Trump tweeted his support of the network. The stations include one each in Oklahoma, Michigan, North Carolina, Virginia and...

  • *Second-quarter forecast tops Wall Street view. April 24- Chipmaker Texas Instruments topped Wall Street targets for first-quarter profit and gave a stronger-than-expected outlook for the second quarter, thanks to higher sales of semiconductors used in cars and industrial machinery. The Dallas- based chipmaker, which primarily develops analog chips used...

  • "I don't know how satisfied they are going to be," Pivotal Research Group analyst Ajay Jain said of the activist shareholders, "But I think the company's clearly made a lot of progress on divestitures and on sale and leaseback transactions." Net income from continuing operations rose to $25 million, or 65 cents per share, in the quarter ended Feb. 24, from $24 million, or...

  • HOQUIAM, Wash. _ Timberland Bancorp Inc. on Tuesday reported fiscal second-quarter net income of $4.3 million. The holding company for Timberland Bank posted revenue of $13.4 million in the period. Timberland Bancorp shares have climbed 24 percent since the beginning of the year.

  • WILMINGTON, Del.— Defense attorneys are continuing to hammer away at prosecutors' claims in the federal fraud and conspiracy trial of four former Wilmington Trust Corporation executives. In closing arguments Tuesday, defense attorneys attacked the prosecution's star witness as a serial liar who was fired and pleaded guilty for his own misdeeds at the bank—...

  • NEW YORK, April 24- A partner of a private equity firm with Chinese state backing was found guilty in a U.S. court on Tuesday of insider trading related to the attempted acquisition of Lattice Semiconductor Corp, prosecutors in New York said. Benjamin Chow, who co-founded Canyon Bridge Capital Partners, was convicted of securities fraud and conspiracy by a jury in...

  • Pecan growers and suppliers are hoping to sell U.S. consumers on the virtues of North America's only native nut as a hedge against a potential trade war with China, the pecan's largest export market. The Fort Worth, Texas- based American Pecan Council, formed in the wake of a new federal marketing order that allows the industry to band together and assess fees for...

  • CHICAGO _ First Industrial Realty Trust Inc. on Tuesday reported a key measure of profitability in its first quarter. The real estate investment trust, based in Chicago, said it had funds from operations of $47.7 million, or 38 cents per share, in the period. The average estimate of seven analysts surveyed by Zacks Investment Research was for funds from...

  • Repatha sales, which more than doubled to $123 million, were higher than Wall Street expected, but the product "still has a long way to go to restore confidence that it has multi-billion-dollar sales potential," JP Morgan analyst Cory Kasimov said in a research report. Amgen posted first-quarter adjusted earnings of $3.47 per share, up from $3.15 a share a year...

  • BOSTON _ Boston Properties Inc. on Tuesday reported a key measure of profitability in its first quarter. The real estate investment trust, based in Boston, said it had funds from operations of $230.6 million, or $1.49 per share, in the period. The average estimate of 10 analysts surveyed by Zacks Investment Research was for funds from operations of $1.49 per share.

  • DES MOINES, Iowa/ NEW YORK, April 24- Wells Fargo& Co investors gave strong backing to the bank's directors and executives on Tuesday, indicating they are ready to give its revamped leadership time to rebuild from scandal despite a noisy annual shareholder meeting. Wells Fargo executives said each of the bank's 12 director nominees received more than about 89...