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BUSINESS
October 9, 2007 | From the Associated Press
louisville, ky. -- Fast-food giant Yum Brands Inc. said Monday that its third-quarter profit rose 17% on the strength of surging sales in its international and China divisions that offset sluggishness in the United States, led by slumping Taco Bell. The operator of KFC, Taco Bell and Pizza Hut reported 28% profit growth in its China division and 21% growth in its international division for the three months ended Sept. 8. Yum's U.S. operation had a scant 1% profit growth for the period.
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BUSINESS
September 28, 2001 | RICHARD VERRIER, TIMES STAFF WRITER
In another setback for Walt Disney Co., Moody's Investors Service Inc. lowered the company's credit rating for the first time in five years. Moody's downgraded Disney's senior unsecured debt rating to A3 from A2 and its short-term debt rating to P-2 from P-1. About $12 billion of debt is affected. Downgrades typically raise borrowing costs. The short-term downgrade could make it tougher for Disney to sell commercial paper. Moody's cited concerns about debt from Disney's $5.
BUSINESS
April 23, 2014 | By Chris O'Brien
After weeks of anxiety among investors over Apple Inc.'s fiscal second-quarter results, the company delivered a one-two punch of good news Wednesday that sent its stock soaring. First, Apple posted revenue for the three months ending in March that beat both Wall Street's projections and its own guidance. And second, the company said it was expanding its record stock buyback and dividend plan to $130 billion from $105 billion. "We are announcing a significant increase to our capital return program," Apple Chief Executive Tim Cook said in a statement.
BUSINESS
October 24, 2013 | Bloomberg News
Carl Icahn, the billionaire activist investor who has made a career of pushing companies to make changes to boost shares, published a letter to Apple Inc. Chief Executive Tim Cook urging the company's board to increase the size of a stock repurchase. Icahn promised not to tender his shares if Apple agrees to his proposal to implement a $150-billion repurchase, he said in the open letter that he posted on his website Thursday. Icahn said he has increased his holdings in the company to 4.7 million shares worth $2.5 billion, from 3.4 million shares in August.
BUSINESS
June 27, 2000 | From Associated Press
First Union Corp. said Monday that it's closing its money-losing Money Store home equity loan business and selling up to 90 branches, part of a $2.8-billion restructuring to bolster its bottom line and stock price. The nation's sixth-largest bank also said it will sell its mortgage servicing unit to Wells Fargo and put its credit card business on the auction block while focusing on its profitable core businesses.
BUSINESS
April 24, 2003 | Ronald D. White, Times Staff Writer
WellPoint Health Networks Inc. said Wednesday that its first-quarter profit jumped 37%, exceeding analyst forecasts, in part because of strong enrollment of new members in California. WellPoint posted first-quarter net income of $193.1 million, or $1.29 a share, up from $141.1 million, or 97 cents, a year earlier. The earnings beat Wall Street's average forecast of $1.20 a share, according to a poll by Thomson First Call. WellPoint's revenue rose 23% to $4.8 billion in the period, up from $3.
BUSINESS
September 23, 2000 | From Reuters
Hewlett-Packard Co., the world's No. 3 computer maker, said Friday that Chief Executive and President Carly Fiorina has added the post of chairman, becoming the first woman to hold all three top jobs at a major technology company. Hewlett also announced a $1-billion stock buyback, said it was comfortable with analysts' consensus fiscal fourth-quarter earnings estimate of $1.03 a share and expressed confidence that it would meet revenue growth targets of 15%. Hewlett's shares jumped $9.
BUSINESS
March 17, 2006 | From Bloomberg News
Barnes & Noble Inc., the largest U.S. bookseller, said Thursday that fourth-quarter earnings rose 6.4% on strong holiday sales. Profit at rival Borders Group Inc. fell 3% because of discounts. Net income at Barnes & Noble increased to $123 million, or $1.76 a share. Fourth-quarter earnings at Borders, the second-largest U.S. book retailer, declined to $119.1 million. Borders per-share profit climbed to $1.78 on share repurchases.
BUSINESS
January 30, 2003 | Richard Verrier, Times Staff Writer
Vivendi Universal's board on Wednesday named three outside directors and announced a new set of corporate governance rules in a further effort to bolster investor confidence in the French media giant. The board also discussed alternatives for the future of the company's U.S. entertainment group, including floating the entertainment assets in a public offering or selling the businesses outright.
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