The shares of ailing retailer, J C Penney Company Inc (NYSE:JCP), fell 5.28% in the extended trading session after the retailer announced same store sales similar to the previous year period. The company pinned poor sales over the warm season leading to lower sales in September and October. The retailer posted its third quarter 2014…
AT&T Inc. (T) Moves South, Acquires Asset in Mexico
AT&T Inc. (NYSE:T) is buying Nuevo Grupo Iusacell, Mexico’s third largest provider of wireless communications and cellular services, for $2.5 billion. AT&T’s purchase of the Mexican telecoms company is bringing in about 8.6 million subscribers. The purchase covers a net debt of $800 million, translating to an equity of 1.8 billion. The move by AT&T…
Facebook Inc (FB) Messenger App Now Used By Half Billion People
Facebook Inc (NASDAQ:FB) announced that its messenger application has about half a billion users worldwide, up from the reported 200 million users in April. The development comes several months after Facebook has announced that the messaging service of the social networking site will be converted into a separate application for mobile users. This means that…
Costco Wholesale Corporation (COST) Might Devolve Partnership With American Express Company (AXP) In U.S.
What might sound as another distressing news for American Express Company (NYSE:AXP), Costco Wholesale Corporation (NASDAQ:COST) might go for a new U.S. card issuer for its retail stores. Earlier, the retailer ended its partnership with the credit card issuer in its Canadian stores. According to the recent news, the retailer is looking for a new…
Time Warner Inc (TWX)’s Next Acquisition Target Likely To Be Australian Ten Network Holdings Limited (TEN)
After announcing an exciting third quarter 2014, Time Warner Inc (NYSE:TWX) is all set to explore foreign lands with a possible $588 million acquisition bid for Ten Network Holdings Limited (ASX:TEN). The shares of Ten Networks rose amid takeover speculation closing at A$0.27. According to the reports of Australian Financial Review, the U.S. media machine…
Wal-Mart Stores, Inc. (WMT) Bolsters Food Safety in China, Asia Chief Announced
Wal-Mart Stores, Inc. (NYSE:WMT) will concentrate on food safety to bolster its profitability in China. In an interview with Reuters, Scott Price, Wal-Mart’s chief executive in Asia said that the company’s 400 stores in China would benefit if the company would drive its efforts on the issue of food safety. Food safety scandals has haunted…
Burger King Worldwide Inc (BKW) Opens in India, Tweaks Menus
Burger King Worldwide Inc (NYSE:BKW) is set to open its first stores in India in a span of 2 to 3 months. In an announcement made on Saturday, Rajeev Varman, head of the U.S. hamburger chain’s unit in India, said that the company will initially start with a dozen stores. The company’s entry in India…
The Home Depot, Inc. (HD) Stays Positive Despite Theft of 53 Million Email Addresses
The Home Depot, Inc. (NYSE:HD) has reported that about 53 million email addresses has been stolen by hackers from its system. This is in addition to the company’s previous disclosure in September that approximately 56 million payment cards that have been breached, surpassing the number of cards affected in a similar incident at Target Corporation…
Walt Disney Co. (DIS) Income At Par With Analysts Estimates
Walt Disney Co. (NYSE:DIS) announced in its fourth quarter earnings report ended Sept. 27, 2014, a net income of $1.5 billion, up from $1.39 billion over the same period the previous year, garnering an earnings of 86 cents per share as opposed to 77 cents per share last year. The 8% increase, largely driven by…
Boeing Co (BA) Aims For New Airliner Amid Increasing Local And Chinese Competition
The U.S. airplane maker, Boeing Co (NYSE:BA), announced plans to develop a new airplane for replacing its 737 MAX jetliner before 2030. With the increasing pressure from other airplane manufacturer and Chinese companies, the jet maker is eying potential opportunities. While talking at an innovation summit, the CEO of Boeing, Jim McNerney, announced plans for…