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Texas Instruments Disappoints and Predicts Weak 3rd Quarter (Finance, 16 articles)
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The New York-based company posted net income of $242.9 million, or 79 cents per share, for its fiscal first quarter, compared with a profit of $268.2 million, or 83 cents per share, a year earlier. The largest U.S. health insurer by market value said second-quarter net earnings fell to $337 million, or 27 cents per share, from $1.23 billion, or 89 cents per share, a year earlier. Earlier this month, UnitedHealth estimated earnings for the quarter at 64 cents to 66 cents per share, excluding special items, far below analysts' forecasts at the time. The results, released after the close of market trading, fell short of Wall Street forecasts and set off a decline of more than 10 percent in the company's share price in the after-hours session. Shares of the Minneapolis-based managed-care provider rose $2.38, or 10 percent, to $26.21 from Monday's closing price of $23.83, as the prices of other publicly traded insurers like Aetna Inc. and WellPoint Inc. also jumped several percentage points. Sales were flat at $13.3 billion as a 4.6 percent increase in supply chain services sales helped offset a 0.7 percent decline in retail food sales, the company said.
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Oil prices pass $143 a barrel :: CHICAGO SUN-TIMES :: World (Finance, 17 articles)
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Oil prices have risen to record levels in recent weeks, with traders in London and New York paying more than $147 a barrel for crude oil at its peak on 11 July. Oil prices have fallen to a six-week low as US energy demand fell and a hurricane in the Gulf of Mexico appeared to be missing oil facilities. Oil prices tumbled on Tuesday as companies said they don't expect crude production to be disrupted by tropical storm Dolly in the western Gulf of Mexico.
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Other stories about oil, PRICES and crude:
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Roche Offers $43.7 Billion for Shares in Genentech It Does Not Already Own (Finance, 8 articles)
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The deal risks disrupting the culture at Genentech that even Roche has said helped account for the success of the California biotechnology company in bringing innovative new drugs to market. Drugs developed by Genentech, particularly the cancer medicines Avastin, Rituxan and Herceptin, accounted for nearly a third of Roche's overall 2007 sales of 46.1 billion Swiss francs ($45 billion). Shares of Genentech rose $12.06, or 15 percent, to $93.88 Monday, a sign that investors expect Roche will be forced to raise its bid beyond the $89 a share it offered.
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Yahoo, Yang agree on cease-fire with Icahn (Finance, 12 articles)
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Yahoo s board and management earned a reprieve after a weekend deal ended a bruising and acrimonious fight for control of the company with Carl C. Icahn Shares of the Internet company, which just settled a proxy battle with activist investor Carl Icahn, rose 2.7 percent to $21.99 in extended trade following the quarterly report. Despite the distractions of Icahn and Microsoft, Yang said his company intended to keep looking at possible transactions.
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Gas prices push up retail sales (Finance, 10 articles)
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During the month, gas station sales rose 2.4 per cent despite the fact that the price of gasoline ballooned 8.8 per cent, suggesting volume sales declined. Wall Street stocks rallied strongly on Tuesday as a sharp drop in oil prices boosted consumer-facing stocks while a plan to turn round Wachovia helped investors shrug off some disappointing earnings reports. Most eyes were focused on the financial sector, which staged a remarkable midday volte-face to gain 6.6 per cent as investors skipped over a series of weak earnings results to focus on the positive.
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Apple iPhone, Asia demand create touch-screen boom (Finance, 4 articles)
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The launch of the first iPhone model a year ago boosted interest in the technology tremendously, and the updated model available Friday likely will stoke enthusiasm further. Jon Mulder said touch screens have become a "hygiene factor" und a must-have for phones that want to compete in the high end of the U.S. market. In the first half of 2007, before Apple Inc.'s iPhone launched, a big maker of touch sensors for portable electronics would make perhaps a million units per month, Colegrove said.
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blaster@cs.columbia.edu
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