After a wonderful Wednesday, Twitter Inc (NYSE:TWTR) was back to its woeful ways on Thursday, 13th October, 2014, when S&P rated it at BB-, a level which is three notches below its previous rank and is regarded as ‘junk’ in the corporate world. In a move which was described by the rating entity as being…
Wal-Mart Stores, Inc. (WMT) Reports Sales Growth, Matches Prices of Online Competitors
Retailer Wal-Mart Stores, Inc. (NYSE:WMT), reported a rise in same-store sales for the first time covering a period of 7 quarters. The company’s new and existing stores generated a quarterly sales of about $119 billion, up from $112 billion, pushed by demand for apparel and home goods. A 5.5% comparable sales growth in the company’s…
Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) Swaps Procter & Gamble Co (NYSE:PG) Stocks for Duracell Batteries
Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) is acquiring the Duracell battery brand from Procter & Gamble Co (NYSE:PG) by letting go of his shares at the world’s largest household products company. The transaction regarding the deal, which is expected to complete by the second half of next year, will give P&G Buffett’s $4.7 billion worth…
Amazon.com, Inc. (AMZN) Inks New Contract With Hachette Book Group
Internet retailer Amazon.com, Inc. (NASDAQ:AMZN) has inked a multi-year agreement with publisher Hachette Book Group over the sales of ebooks and print books. The agreement signals an end to the two companies’ bitter conflict the previous months, stemming from differences regarding price setting and Amazon’s cut on book sales. The dispute lasted for about six…
Twitter Inc (TWTR) Creates a Ripple on Wall Street
Contrary to worries pertaining to its future, social micro-blogging platform Twitter Inc (NYSE:TWTR) sent a ripple across Wall Street when it announced its future plans. One of the concerns pertained to its diminishing rate of growth and addressing this problem formed the crux of presentation report made by the company. It appeared to have convinced…
Citigroup Inc (C) Haunted By Foreign Exchange Scandal, Fines Exceed $1 Billion
It looks like the legal nightmares are nowhere near their end for Citigroup Inc (NYSE:C), as the financial institution agreed to pay up to $1.02 billion to settle the foreign exchange rate scandal. Citibank is not the only bank involved in the probe and other banks are likely to come up with similar settlements in…
Amazon.com, Inc (AMZN) To Expand AWS, Dismisses Threat from Rivals in Cloud Market
Amazon.com, Inc. (NASDAQ:AMZN) is set to expand its AWS (Amazon Web Service) unit by gradually establishing data centers in every large country throughout the world, AWS chief Andy Jassy said during Amazon’s third annual AWS conference in Las Vegas on Wednesday. In a report by Reuters, Jassy is quoted as saying that Amazon is committed…
Goldman Sachs Group Inc (GS) Declared New Partners, Partner Pool Increased to 467 Partners
One of the most reputed financial institutions of the world, Goldman Sachs Group Inc (NYSE:GS), continued its traditional work culture by introducing 78 new partners to its overall partners pool. The previous announcement for partners was in 2012 and the company announced 70 partners in that period. The partner pool of the company is among…
Cisco Systems Inc (CSCO) – A Tale of Crests and Valleys
When Cisco Systems Inc (NASDAQ:CSCO) released its earnings report for the quarter gone by on Wednesday, 12th October, 2014, the figures made it apparent that the company’s performance had surpassed expectations. An EPS of 54 cents as against 53 cents that occurred the previous year indicated that revenue had risen too, albeit just by 1%…
Twitter Inc (TWTR) To Introduce Instant Timeline, Private Messaging Features, and New Apps
In an effort to improve user experience and push growth, Twitter Inc (NYSE:TWTR) is evaluating the possibility of introducing new mobile apps exclusive of its current messaging platform. Apart from its messaging service, new apps are seen as a viable means to entice new users to the service, which is competing for user share with…