September 28, 2001 |
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.
December 22, 2006 |
Food makers General Mills and ConAgra reported solid second quarters and raised their guidance Thursday, and Wall Street greeted them like comfort food on a cold winter day. Shares of both companies gained nearly 2% in a falling stock market. ConAgra Foods Inc. had the most sizzle. Quarterly profit jumped 44% as the maker of the Healthy Choice and Chef Boyardee brands sold off a meats business sooner than expected, cut costs and got better results from its advertising. General Mills Inc.
April 24, 2003 |
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.
September 23, 2000 |
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.
January 30, 2003 |
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.
May 3, 2000 |
PacifiCare Health Systems Inc. said Tuesday its first-quarter operating earnings rose slightly amid higher premiums and membership, while a 20% stock buyback lifted earnings per share. Based on shares outstanding, the company's earnings rose 21%, well ahead of Wall Street forecasts, but an uptick in the managed-care provider's medical costs sounded warning bells with some analysts. Santa Ana-based PacifiCare, the largest U.S.
August 22, 1998 |
AMP Inc. on Friday urged shareholders to spurn a $9.8-billion buyout offer from AlliedSignal Inc., saying that it's too low and that the world's biggest maker of electrical connectors doesn't fit with AlliedSignal's business. As part of its plan to fight the takeover, AMP named Robert Ripp, its 57-year-old executive vice president of global businesses, chairman and chief executive. Ripp, who is in charge of the company's plan to buoy its shares by closing five plants and cutting 7.
November 26, 1998 |
Tobacco giant Philip Morris Cos. on Wednesday dusted off a massive stock buyback program that sat on the shelf for 19 months as it struggled to settle the smoking-related health claims U.S. states had lodged against tobacco companies. The nation's top cigarette maker, producer of best-selling Marlboro as well as such food and beverage labels as Kraft foods and Miller beer, said it plans to resume share repurchases under a three-year, $8-billion plan originally authorized in February 1997.
July 22, 2004 |
Liberty Media Corp. has clinched a deal to exchange certain cable programming assets, plus about $545 million in cash, for the roughly 4% of its stock held by Comcast Corp., the nation's largest cable operator. The agreement, announced Wednesday, eliminates concern over a possible sale of the shares by Comcast, which didn't consider its Liberty stake strategic. It also allows Liberty to shed assets, such as its 10% stake in cable network E!