February 13, 2009 |
Seeking to avoid mortal combat with its creditors, Midway Games Inc. filed for Chapter 11 bankruptcy protection Thursday. This probably isn't game over for the Chicago game publisher. Midway would have tipped over years ago if not for Sumner Redstone, whose family owns National Amusements Inc., a holding company that has controlling stakes in Viacom Inc. and CBS Corp. Redstone, who has his own financial troubles, pumped hundreds of millions of dollars into Midway before he was forced to sell it last year, for pennies on the dollar, to an investor named Mark Thomas.
August 28, 2008 |
Orange County surf-wear giant Quiksilver Inc. said Wednesday that it had reached an agreement to sell Rossignol, its flagging winter sports equipment division, in a deal valued at $147 million. That was less than half what Quiksilver paid just three years ago to acquire Rossignol. The bid by Chartreuse & Mont Blanc, which is majority owned by Macquarie Group of Australia, comes after Quiksilver announced in January that it was looking to unload Rossignol after several quarters of weak earnings.
April 25, 2008 |
Investors sent Skechers USA Inc. shares up 20% after the Manhattan Beach shoemaker said its first-quarter profit jumped a better-than-expected 37%. Earnings rose to $32.8 million, or 70 cents a share, from $23.9 million, or 52 cents, a year earlier. Sales climbed 11.6% to $384.9 million on growing international demand and favorable exchange rates. But sales at U.S. stores open at least a year, a key measure of retail health, declined. Shares of Skechers rose $3.64 to $21.67. "They did a nice job on the expense end of the business," said Christopher Svezia, an analyst with Susquehanna Financial Group.
February 7, 2008 |
Warner Music Group Corp. closed out 2007 with a best-selling holiday album by Josh Groban and a surge in digital music sales. But the company reported Wednesday that its fiscal first quarter ended in a loss after it booked expenses and a charge from the shutdown of Bulldog Entertainment, a services firm it acquired less than a year ago. Warner Music reported a loss of $16 million, or 11 cents a share, in the quarter ended Dec. 31, after a profit...
March 10, 2004 |
After being threatened with possible sanctions, Los Angeles investment bank Wedbush Morgan Securities said Tuesday that it was moving quickly to clear up a miscommunication with Treasurer Phil Angelides over a new state code of financial conduct. Wedbush Morgan and two other firms, Edward Jones of St. Louis and CIBC World Markets of Toronto, have been sent sanction letters.
June 8, 1999 |
Los Angeles-based brokerage firm Wedbush Morgan Securities will announce today a plan to sell initial public offerings to individual investors via the Internet. Wedbush Morgan plans to follow in the footsteps of high-profile upstarts such as Wit Capital Corp. and W.R. Hambrecht & Co., which have specialized in making IPOs available electronically to small investors. Previously, brokerage houses doled out coveted IPOs only to powerful institutional investors such as mutual funds.