May 1, 2003 |
Clear Channel Communications Inc., the biggest U.S. owner of radio stations, rebounded to a first-quarter profit of $71 million as expenses fell and sales rose. Clear Channel's net income of 12 cents a share contrasted with a net loss of $16.7 billion, or $27.85 a share, in the year-earlier quarter when Clear Channel wrote down the value of acquired assets. Sales increased 4.8% to $1.78 billion from $1.7 billion.
February 6, 2007 |
Weakness in the manufacturing sector, especially the auto industry, may be damping the nation's economic prospects, but the bigger service sector appears to be more than making up for it. The Institute for Supply Management said Monday that its index of business activity in the non-manufacturing sector advanced to 59 in January from 56.7 in December. Wall Street analysts had expected a reading of 57 for last month.
January 16, 2002 |
U.S. retail sales dipped in December, but the decrease was smaller than expected and shows the consumer may be in better shape than Federal Reserve policymakers believe. The Commerce Department said retail sales dipped 0.1% in December. Although it was a second straight decline, it was much less than the 1.4% decline Wall Street analysts had been anticipating. Sales outside of the auto sector also were off by 0.1% in the month. Treasury Secretary Paul H.
July 12, 2004 |
One report due out this week is expected to show that retail sales fell last month, with economists polled by Reuters forecasting a 0.6% decline and economists surveyed by Bloomberg News predicting a 0.7% dip. Another report may indicate that manufacturing production stalled in June. And economists predicted that inflation data could show that consumer prices have drifted higher. As for industrial production, analysts predict the numbers will be flat for last month.
December 14, 2002 |
Three months after taking the helm, Gap Inc. Chief Executive Paul Pressler is considering licensing the brand internationally and starting new labels under which to sell apparel, according to an analyst's report released Friday. Pressler, who has declined media interviews, also told retail analysts that Gap is looking at ways to market its products better to customers, including by interacting more with shoppers in Gap stores.
November 22, 2005 |
Sprint Nextel Corp. said Monday that it would acquire Alamosa Holdings Inc., its largest Sprint-branded wireless affiliate, for $3.4 billion. Alamosa shareholders will receive $18.75 a share, a 15% premium over the stock's Friday close of $16.26. The deal also includes the assumption of $900 million in debt. Alamosa shares jumped on the news, gaining $2.09, or almost 13%, to close at $18.35. Sprint Nextel shares rose 23 cents to close at $25.17. Sprint Nextel is based in Reston, Va.
June 1, 2002 |
U.S. manufacturing is on a firmer footing, reports released Friday showed, and combined with large productivity gains and better consumer sentiment, the data provided more evidence that a sound economic recovery is underway. "The recovery in the manufacturing sector means that the weakest part of the U.S. economy is now on the mend," said Mark Vitner, economist at Wachovia Securities. Manufacturing in the Midwest jumped to a three-year high in May, according to the National Assn.
December 19, 2006 |
Warner Music Group Corp., home to artists including Madonna and James Blunt, agreed to buy a majority stake in heavy-metal label Roadrunner Music Group for $73.5 million. Roadrunner will be a free-standing label within the Atlantic Records Group, New York-based Warner Music said Monday. The company is getting a 73.5% interest in Amsterdam-based Roadrunner, founded by Cees Wessels in 1980. Wessels will run the unit and remain based in the Netherlands.
July 16, 2002 |
Fleetwood Enterprises Inc. posted a narrower quarterly loss Monday after higher sales of recreational vehicles helped mitigate a slumping prefab housing business. But the loss was still worse than some analysts' estimates, and the Riverside-based company said it does not expect to post a profit in the current quarter. Fleetwood shares fell more than 11% to their lowest level in more than five years. "They just missed by a mile," said Robert Marshall, an analyst at Wachovia Securities.