Wal-Mart Stores, Inc. (NYSE:WMT) is among the stores that have felt the economic heat and have reduced their 2014 revenue guidance. The U.S. largest retailer on Wednesday told investors that it expects 2014 sales revenue to fall between $482.6 billion and $487.3 billion, citing tougher sales environment. The company said that it forecasts a 2-3%…
Ebay Inc (EBAY) Facing Challenge From Luxury Retailers, Reduces 2014 Revenue Forecast Amid Market Concerns
EBay Inc (NASDAQ:EBAY) has joined the list of companies that have cut down their 2014 revenue projections due to a blurry fourth quarter. The outlook is a sign of lower than expected shopping over the coming holidays. The company had initially given a 2014 revenue outlook of between $18 billion and $18.3, but has now…
American Express Company (AXP) Is Observing Acceleration In Its Volumes, Reported 8% Increase in Third Quarter Profit
American Express Company (NYSE:AXP) has posted 8.1% rise in its 2014 third quarter profit, compared to last year. The profit is attributed to higher spending by card holders during the period, something attributed to a stronger U.S. economy. The company reported a net profit of $1.48 billion, or $1.40 per share, beating the $1.37 billion,…
General Motors Company (GM) Faces $10 Billion Lawsuit over Recalls Related To 27 Million Cars Sold Within U.S.
The year 2014 has been a challenging one for General Motors Company (NYSE:GM). The company has been hit by record recalls and compensations to victims of defects in its manufactured vehicles. Now, a lawsuit has been filed by car owners who are demanding to be compensated $10 billion over losses incurred due to fallen car…
Google Inc (GOOGL) Seeks FCC Approval to Test Fast Wireless Internet Connection
What comes to many a user’s mind when talking about fast internet connection is fiber optic. And indeed it has served to make internet speeds faster and more reliable. However, several users may not be aware of what ISPs go through in order to set up these networks. For those who are aware of what…
AbbVie Inc (ABBV) Reevaluates Acquisition of Shire PLC (ADR) (SHPG) Over New U.S. Tax Rules
AbbVie Inc (NYSE:ABBV) is said to be considering withdrawing its bid for the acquisition of its UK based competitor Shire PLC (ADR) (NASDAQ:SHPG), citing new tax rules by the U.S. government. The U.S. drug firm had agreed to acquire the UK rival in a $52 billion deal. The U.S. Company said that it will have…
Intel Corporation (INTC) Beats Expectations With Its Q4 Forecast and Says “The worldwide PC Supply Chain Appears To Be Healthy”
Demand for personal computers has been down for some time now, but the market has recently shown good signs. Intel Corporation (NASDAQ:INTC) made that even clearer when it reported a rosy fourth quarter forecast, which beat expectations. The market for PCs has been down for about 4 years now. However, the trend has changed in…
Citigroup Inc (C) Is Planning To Focus On U.S. Market And Stop Consumer Banking Operations In 11 Countries
Citigroup Inc (NYSE:C) started off a study in 2012 to streamline its activities and to identify markets that aren’t posting acceptable profits compared to costs. The research had led to the introduction of several standardized accounting procedures and measures to cut down on costs. Now, the company has announced a decision to pull out of…
Deutsche Telekom AG (DTE) Changes Its Decision to Sell T-Mobile US Inc (TMUS) and Decides To Wait
It already became apparent from Deutsche Telekom AG (ETR:DTE) that it was reluctant to sell its 67% stake in T-Mobile US Inc (NYSE:TMUS). This is after spurning off several propositions from different suitors. The French upstart company Iliad SA (EPA:ILD) had made about two bids that were all rejected before making a more improved bid…
Google Inc (GOOGL) Researchers Discovers SSL 3.0 Encryption Bug, Warns of Possible Attacks
Three Google Inc (NASDAQ:GOOGL) researchers have given a warning that there is an encryption bug that can be used to launch various attacks on user information. The researchers have called the possible attack “poodle,” meaning Padding Oracle On Downloaded Legacy Encryption. They have said that the bug can be exploited to steal user data from…