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.
August 12, 2013 |
Spanish-language radio star Eddie "Piolín" Sotelo is borrowing a page from Howard Stern. Three weeks after severing ties with Univision Radio, Sotelo has made a deal to bounce to SiriusXM satellite radio. This fall, Sotelo will launch a Spanish-language entertainment channel on the subscription service called Piolín Radio, which will be anchored by a live four-hour morning program that Sotelo will broadcast from Los Angeles. "I am honored SiriusXM believes in me," Sotelo, whose nickname means "Tweety Bird," said in a statement.
October 24, 2013 |
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.
April 23, 2013 |
Apple released its second-quarter earnings Tuesday, but investors were more excited by the company's eye-popping $60-billion stock buyback. The buyback goes down as the largest share repurchase in history, funded by Apple's massive cash hoard, which currently stands at about $145 billion. Apple also announced that its board of directors had approved a 15% increase in the company's quarterly dividend and has declared a dividend of $3.05 per common share, payable May 16, to shareholders of record as of the close of business May 13. "We are very fortunate to be in a position to more than double the size of the capital return program we announced last year," Chief Executive Tim Cook said.
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.
March 17, 2006 |
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.
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.