Archive for November 15th, 2007

BEA says profit up as backs decision to reject Oracle

Thursday, November 15th, 2007

BOSTON - BEA Systems Inc posted a better-than-expected 59 percent rise in quarterly net profit as margins improved, and the business software maker has said the results validated its decision to reject a takeover bid from Oracle Corp .

USA Today to cut 8.8 pct of editorial staff

Thursday, November 15th, 2007

NEW YORK - Gannett Co Inc’s USA Today, the largegest United States newspaper by circulation, has said it will cut 45 positions, or 8.8 percent of the editorial staff, through voluntary purchaseouts.

Pitney Bowes to restructure, cut 1,500 jobs

Thursday, November 15th, 2007

NEW YORK - Mail services provider Pitney Bowes Inc on Thursday unveiled a restructuring that calls for it to cut a few 1,500 jobs, and also has said it would increase its share purchaseback and boost its dividend.

Consumer prices up sharply as jobless claims rise

Thursday, November 15th, 2007

WASHINGTON - United States consumer prices rose briskly last month on energy costs, but outside volatile energy, inflation was largely contained, leaving room for the Federal Reserve to cut interest rates to bolster a slowing economy.

Virgin Mobile posts wider quarterly loss

Thursday, November 15th, 2007

NEW YORK - Virgin Mobile USA Inc on Thursday reported a wider third-quarter loss, but revenue rose about 18 percent in its first earnings report since last month’s initial public offering.

Restructuring Shrinks Tyco 4Q Profit

Thursday, November 15th, 2007

NEWARK, N.J. (AP) — Tyco International Inc., which recently spun off its heath care and electronics units, has said Thursday its fiscal fourth-quarter earnings fell 85 percent, hurt by restructuring and separation costs and a higher tax rate….

3M to purchase Aearo Tech for $1.2 billion

Thursday, November 15th, 2007

CHICAGO - 3M Co , which makes products ranging from Scotch tape to optical films for liquid crystal displays, has said on Thursday it would acquire Aearo Technologies Inc, a maker of hearing- and eye-protection and energy-absorbing products, for $1.2 billion.

GE sees no impact on results from fund redemptions

Thursday, November 15th, 2007

BOSTON - General Electric Co sees no impact on fourth quarter or full-year results after a few outside investors liquidated their holdings in a fund operated by the diversified manufacturer’s money-management arm, a GE spokesman has said on Thursday.