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.
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.
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.
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.
December 18, 2007 |
In a deal worth a cool $10 billion, Ingersoll-Rand Co. will acquire Trane Inc. and create one of the world's largest makers of commercial and residential home air conditioners, refrigerators for trucks and stores, and other climate-control products. But some Ingersoll-Rand shareholders, who had expected the cash-rich company to pour some money into share repurchases, seemed disappointed with the acquisition announced Monday and sold Ingersoll-Rand stock, driving shares down sharply. The $10.
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.