Home » Headlines

Oracle Buying Textura at a Price of $663 Million

Late this week, database giant Oracle Corp, said it reached an agreement to purchase Textura Corp a provider of cloud services. That expanded the giant’s offerings in the construction industry, with heavy emphasis in on-demand, web-based computing services. The acquisition boosts the offerings Oracle has for vertical industries that include financial services, retailing and marketing and advertising. The transaction will be completed with $26 per share in cash, valued the company at $663 million, net of the cash Textura is holding, said Oracle. Oracle,... 
 

AB InBev Offering More Assets of SABMiller in Europe to Win EU Approval

The largest brewer in the world, Anheuser-Busch InBev intends to sell the assets of SABMiller in Eastern Europe to secure the approval of regulators in the European Union for its takeover of $100 billion. AB InBev has lined up already the sale of Peroni, Grolsch and Meantime to Asahi Group Holdings in Japan for more than 2.55 billion euros and Friday said that is put the SABMiller assets up for sale in Hungary, Poland, Slovakia, Romania and the Czech Republic. It notified the antitrust regulator of the EU, the European Commission, which will give... 
 

Verizon Working With Authorities On Sabotage Incidents

Two weeks ago, nearly 36,000 Verizon workers walked off the job. Now, Verizon is dealing with a wave of sabotage incidents and some are looking suspiciously at the striking workers. Some of the incidents have included the intentional damaging of Verizon equipment, the vandalism of terminal boxes, and the destruction of fiber-optic cables. Verizon said the criminal incidents have increased considerably since the strike began on April 13. During the two weeks since the strike began, the number of incidents of suspected sabotage being investigated... 
 

UPS Profit Increases During First Quarter by 10%

On Thursday, United Parcel Service said that its profit rose during the first quarter by 10% to over $1.13 billion, helped in part from an increase in its ground and next-air shipments in the U.S. The results beat the forecasts on Wall Street for profit, but revenue came in less than what had been expected. UPS often is considered an economic bellwether both in the United States as well as globally due to the amount of shipments the company handles between companies and from companies to consumers. The e-commerce business at UPS has seen strong... 
 

Consumers Buying Fewer Apple Products, Sales Slump Worldwide

Apple’s most recent earnings report is increasing concerns that the world has finally reached a saturation point with smartphones. In the latest quarter of its fiscal year, Apple reported its first-ever drop in iPhone sales. Quarterly unit shipments declined 16 percent to 51.2 million in the three months ended in March, down from the 61.1 million units shipped in the same quarter of last year. However, the amount met analysts’ expectations of 51 million units shipped. Apple makes more than two-thirds of its revenue from the iPhone, and the sales... 
 

Boeing Profit Drops on Lag in Commercial Deliveries

Boeing Co said its profit for the first quarter fell as the airplane maker delivered less commercial jets. Despite a drop and miss in earnings, as the adjusted profit came up short of expectations on Wall Street, the company kept its guidance for the full year. Dennis Muilenberg the CEO at Boeing said the company was pleased with its performance trends as well as its outlook for 2016 remaining positive. Boeing, based in Chicago, is the largest aerospace company in the world, and has delivered solid earnings the past few years, driven in large part... 
 

T-Mobile Q1 Results Soar On Customer Subscriptions

Bellevue, Washington-based T-Mobile US Inc. reported strong results for the first quarter of its fiscal year. The company reported net income of $479 million, or 56 cents per share, for the first quarter, compared with a loss of $63 million, or 9 cents per share, in the same quarter a year earlier. Analysts’ expected 10 cents per share. T-Mobile also reported that revenue rose 10.6 percent to $8.6 billion. Analysts on average had expected revenue of $8.43 billion, according to Thomson Reuters I/B/E/S. The company’s increased profit was driven... 
 

Nokia Buys Withings from France for 170 Million Euros

Nokia’s past history of being the biggest mobile phone maker in the world is becoming more of a distant memory. However, it is not completely out of the device business yet. To build its business of health technology, the company announced on Tuesday that it acquired Withings, which is a maker of activity trackers, smart scales and other electronic gadgets used in the health field. While Nokia is based in Finland and Withings in France, the transaction in euros is 170 million or close to $192 million. Nokia believes the deal will close this year... 
 

Gannett Sends Unsolicited $815 Million Bid to Purchase Tribune Publishing

Gannett Co, which is the owner of the USA Today and over 100 other publications across the nation, announced on Monday that it had sent an offer of close to $815 million to acquire Tribune Publishing. This is the second big move to expand since it spun off from its former parent less than 12 months ago. In a letter addressed to Tribune CEO Justin Dearborn, Robert Dickey the CEO at Gannett reiterated on Monday a private offer from April 12 to pay per share an amount of $12.25 or a premium of 63% to the closing stock price of Tribune as of last Friday. Tribune... 
 

Starbucks Sales Increase For 2Q Hits Record (NASDAQ:SBUX)

For the second quarter of its fiscal year, Starbucks reported sales that were the best of any non-holiday quarter ever. Sales increased 9.4 percent to $4.99 billion, from $4.56 billion in the year-ago quarter. This was still slightly lowered than analysts’ expectations, which predicted sales of $5.03 billion in the quarter, according to S&P Global Market Intelligence. Starbucks reported that same-store sales increased 6 percent globally in the second quarter. Sales increased 7 percent in the U.S. and Americas, with the company reporting that... 
 

Beer Remains Bullish Says Wall Street

Anheuser-Busch InBev the owner of Budweiser and Molson Coors each hit all time highs early this past week in the market. Investors are betting that the AB InBev megadeal to acquire SABMiller its rival now has more of a chance of receiving regulator’s approval. The King of Beers joining forces with the Pilsner Urquell owner depends on both companies selling off a number of brands to help satisfy the antitrust regulators across the globe. The deals to off load brands are beginning to take shape. Asahi the Japanese brewer announced earlier this week... 
 

Alphabet Results Hit from Increased Traffic Costs and Strong Dollar

On Thursday, Alphabet Inc the parent company of Google missed targets on Wall Street for revenue and profit for its first quarter as it spent more to build traffic for it advertising services on mobile devices. The results, which were hit as well by a strong U.S. dollar, drove the shares of the search company lower by 6% in Thursday late trading. The consolidated revenue at Alphabet increased from $17.25 billion to $20.25 billion, which was slightly less than analyst expectations of $20.37 billion. Its non-GAAP per share earnings were $7.50, excluding... 
 

SunEdison Slides Into Bankruptcy Protection (NYSE:SUNE)

Thursday morning, reports emerged that renewable energy firm SunEdison has filed for Chapter 11 bankruptcy protection in Manhattan federal court in New York. In its bankruptcy filing, SunEdison lists $20.7 billion in assets and $16.1 billion in liabilities. The bankruptcy filing does not include its two subsidiaries, TerraForm Power and TerraForm Global. In its bankruptcy plan, SunEdison said that it would sell “non-core” assets and shed debt through a reorganization. SunEdison reported securing $300 million in bankruptcy debt financing... 
 

General Motors Earnings Increase on Strength in North America

General Motors Co posted net income for the first quarter of $1.95 billion that exceeded by a wide margin expectations on Wall Street on Thursday as the automaker posted results that broke even in Europe and improved results in every region from the same quarter last year. Earnings by the automaker equaled $1.24 a share for the quarter or a record per share of $1.26 for the first quarter when adjusting for certain items that were related to expenses for litigation. The earnings exceeded the predictions of analysts of $1.00 per share on flat revenue... 
 

Intel to Eliminate 12,000 Jobs On Plunge in PC Demand

Intel, the largest semiconductor maker in the world announced on Tuesday it would lay off 12,000 employees which represents close to 11% of its entire workforce, as the company continues reeling from the long-term downturn in worldwide demand for PCs. Brian Krzanich the CEO at Intel announced the job cuts as part of the company’s larger restructuring, which is to result in a charge of $1.2 billion. Intel reported as well earnings for its first quarter that were lower than had been expected and lowered its estimate for revenue for the full year. Krzanich... 
 

Goldman Sachs Reports Declines In All Main Businesses (NYSE:GS)

Goldman Sachs is the latest bank to report disappointing results in a dismal quarter for big U.S. banks. The investment banking firm reported declines in all of its main businesses for the first quarter of its fiscal year. Revenue from trading bonds, currencies and commodities (FICC) fell about 47 percent and accounted for 26.2 percent of total revenue in the quarter, considerably less than the 40 percent the business regularly contributed before the financial crisis. Equities trading revenue fell 23 percent and investment banking revenue fell 23.2... 
 

Netflix Stock Plummets as Forecast for Subscribers Misses

Netflix the U.S. based video streaming service has forecasted growth for its U.S. as well as international subscriptions at a slower pace than was expected on Wall Street for the current quarter. That sent shares plummeting by 8% during Monday after hours trading. The video streaming service said it was expecting to add over 500,000 customers across the U.S. during the second quarter, which ends during June. In comparison to the 586,000, that Wall Street had targeted. The forecast included a slight impact from the start of an increase in monthly... 
 

Morgan Stanley Profits Decline, But Still Beats Expectations (NYSE:MS)

Morgan Stanley had a rough first quarter, but still managed to beat analysts’ expectations. The company reported that its quarterly profit fell by more than half when compared to the same quarter a year ago. Earnings applicable to common shareholders fell 54.4 percent to $1.06 billion, or 55 cents per share, in the period, from $2.31 billion, or $1.18 per share, a year earlier. While the first quarter of last year was Morgan Stanley’s most profitable quarter since the financial crisis, this quarter was the weakest start to a year since 2010. Sharply... 
 

PepsiCo Tops Expectations on Profit as Sales Increase at Frito-Lay

PepsiCo Inc has posted a profit for the first quarter that beat expectations on Wall Street following strong sales in North America of snacks were able to offset weaker results from abroad. Earnings ended the quarter at 89 cents per share, excluding certain items, the New York company said via a statement. Analysts had estimated that profit would be 81 cents per share. Sales were down 2.9% to end the quarter at $11.9 billion, which matched the average projection on Wall Street. With the U.S. dollar remaining strong, sales abroad have been hurt,... 
 

Apple Says No to Request to Hack iPhone of Drug Dealer

Apple is once again saying no to the U.S. government. On Friday, in a legal filing the giant in tech company argued it should not have to aid officials from law enforcement who are seeking to extract data out of a trafficker of methamphetamine’s iPhone because not all means have been used to possibly bypass the security code. Lawyers for the company also contend that the Justice Department misinterpreted the act of 1789 known as the All Writs Act that it used to ask a federal court in Brooklyn to compel the assistance Apple. Apple lawyers filed... 
 

Costs Rising For Uber Drivers In San Francisco

Uber drivers in San Francisco will be seeing their costs for working as independent contractors for the company rise in the coming weeks. The reason is that the city of San Francisco has mandated all drivers for ride hailing services in the city who work seven or more days must now purchase a business license to operate legally. Drivers who don’t would be subject to fines and other penalties. According to San Francisco City Treasurer Jose Cisneros, roughly 37,000 drivers identified as working for ride hailing services Uber or Lyft will be receiving... 
 

Wells Fargo Energy Industry Exposure Weighs On 1Q Results (NYSE:WFC)

The amount of money that Wells Fargo has set aside as provisions for souring loans in the energy industry has weighed down the company’s results for the first quarter of its fiscal year. Provisions for bad loans surged nearly 80 percent to $1.09 billion. Wells Fargo reported that its quarterly net chargeoffs increased $178 million year-over-year, rising to $886 million. The bank also reported $200 million in additional reserves for credit losses. A year ago, the company reported a $100 million reserve. The energy industry has been pummeled as... 
 

U.S. Spending on Drugs Increases

The growth rate of drugs slows but remains high, fueled by the new, pricey medications. Total spending for prescription medications across the U.S. was 12.2% higher to over $425 billion for 2015, which continued the steep climb that has been driven by an introduction the past few years of new, expensive drugs for infections and cancer, along with hikes in prices for the older drugs. The growth rate in spending decelerated from the rate in 2014 of 14.2% partly due to expirations of patents on certain drugs. However, the growth remains far above the... 
 

American Apparel Eliminates Hundreds of Jobs, Considers Outsourcing

American Apparel, the downtown apparel company in Los Angeles started layoffs of its employees last week. Thus far, over 500 employees in the area have lost employment, said an insider who is aware of the layoffs. In the southern California area, American Apparel has close to 4,600 employees. In February, the company was able to emerge from bankruptcy and has tried since to move past a difficult two-year period that saw Dov Charney the founder ousted, store closings and huge fire sales to clear out merchandise that was unsold. In a letter last week... 
 

Alcoa Drops in After Hours Trading After Posting Results

Alcoa, the behemoth aluminum company that unofficially starts reporting season, posted quarterly profit that was better than had been expected after the close of business on Monday. However, the results were still dramatically down from the same period last year due to revenue being weaker than had been expected. In trading on Wall Street after hours Monday night, the stock dipped 4.5%  after it had closed 37 cents up during the regular day of trading. Alcoa reported a quarterly adjusted profit of 7 cents per share, which was more than 133% higher... 
 

Defrauding Investors Costs Goldman Sachs $5 Billion (GS.N)

Goldman Sachs Group Inc. has reached an agreement to pay a multi-billion dollar settlement to resolve claims that the company defrauded investors in the years leading up to the 2008 financial crisis. The company was accused of misleading mortgage bond investors in the packaging, securitization, marketing and sale of residential mortgage-backed securities between 2005 and 2007, specifically failing to properly vet mortgage-backed securities before selling them as high-quality debt. Investors lost billions of dollars on securities bought during the... 
 

Hate Driving At Night? Ford Has You Covered (NYSE:F)

If you are one of the many who hate driving at night, Ford’s latest tests for its autonomous Fusion model will appeal to you. Ford’s latest tests focused on improving autonomous driving in dark conditions. If autonomous vehicles will ever be safe to drive on standard roads and be sold commercially, these kinds of tests are essential. Most self-driving cars are tested during daylight hours so all of their electronic systems can work in concert. Ford’s self-driving cars rely on radar, cameras, and LiDAR sensors to detect road lines, obstacles... 
 

Parent Company of Daily Mail In Discussions For Yahoo Bid

Daily Mail based in Britain is discussing with a few potential partners to launch a joint bid to acquire Yahoo’s internet assets. It is looking at a plan to buy the troubled Internet pioneer’s assets to help increase its advertising revenues from the globally popular news site online. The Daily Mail’s parent company in Britain, the Daily Mail and General Trust, on Monday said that it was currently holding early stage talks with a number of parties about the possibility of a bid for Yahoo, which confirmed the report earlier from the Wall Street... 
 

Rescue Bill for Puerto Rico Nearly Complete in House Committee

In Washington, legislative staff members were close Friday to completing a newly revised bill that would give extraordinary powers to Puerto Rico to wipe away debt under close supervision from the federal government. Aides in the Natural Resource Committee of the House, working during their spring recess, are grappling with constitutional issues that are sensitive raised by this rescue package, even after San Juan lawmakers on Wednesday suddenly authorized a debt moratorium across the board for the Caribbean island. The lawmaker in Puerto Rico said... 
 

Apple Continues To Fight Justice Department Over Unlocking iPhones (NASDAQ:AAPL)

Apple’s fight with the Justice Department over unlocking some of Apple’s well-encrypted iPhones has continued with a new skirmish. The department is now trying to compel Apple’s assistance in unlocking a phone linked to a methamphetamine ring in Brooklyn. Previously, a judge in Brooklyn sided with Apple and said the Justice Department had overreached in trying to force the company to give it access to an encrypted iPhone used by a convicted drug dealer. The Justice Department is seeking to overturn that order. The fight between Apple and the... 
 

Nearly 80% of Those Receiving Netflix Price Increases Are Not Aware

Netflix will increase its prices for close to 17 million of its standard monthly accounts in May and the vast majority of people are not aware that is to take place. During May of 2014, Netflix started to increase the price of its standard plan for streaming for any new subscribers. At first, the price increased to $8.99 per month, and then last October they increased it again to $9.99 per month. Netflix existing subscribers were grandfathered in for $7.99 per month for the two-stream quality HD plan. However, those less expensive days will be over... 
 

Amazon Expands Same-Day Delivery into 11 More Cities

Amazon’s same-day free delivery services for its members of Prime just experienced a major expansion arriving in 11 other metropolitan areas. The cities that have been added include Charlotte, Fresno, Cincinnati, Louisville, Nashville, Milwaukee, Richmond, Raleigh, Stockton, Tucson and Sacramento. Amazon will also support additional neighborhoods in Dallas-Ft. Worth, Central New Jersey, San Diego and Los Angeles where the same-day delivery service is available already. With this expansion, subscriber of Amazon Prime can get free delivery the same-day... 
 

Dominion Acquiring Questar to Boost Sales of Gas

Dominion Resources, the owner of the largest utility in Virginia announced it was acquiring Questar Corp at the cost of $4.4 billion to expand holdings in natural gas assets that are better performing, extending a new trend of power companies purchasing shippers of fuel. Questar holders will receive $25 per share in this deal, which is expected to close by the end of this year, said Dominion, which is based in Richmond, Virginia. Dominion is to assume close to $1.6 billion in debt, said a company spokesperson. The cash price is a premium of 23%... 
 

Xerox and Icahn Announce Company Will Split Into Two

In 2012, CEO of Xerox Ursula Burns said if the company was to continue making copiers for the next few decades, it would no longer exist. To ensure the survival of the century old company, she diversified its business with different services, or helping companies to simplify their processes with tech, through billions in different acquisitions. Just over three years later, amidst the increase in activist investors that are pushing the older companies into slicing and dicing themselves up to drive their value, Xerox has now decided it will spin off... 
 

AT&T Revenue Comes Up Short, Earnings Reach Expectations

DirecTV is beginning to show an impact on the bottom line of AT&T. AT&T posted 63 cents per share in adjusted earnings for its 2015 fourth quarter, which was in line with expectations on Wall Street. The company said that the adjusted profits would have been higher by 3 cents per share but there was an accounting change that was caused by the acquisition last year of DirecTV for $49 billion. Revenues for the fourth quarter reached $42.1 billion equal to an increase of 22% compared to the same three month period one year ago. Analysts expected... 
 

Johnson Controls Merging With Tyco in Inversion Deal

Manufacturing giants Tyco International and Johnson Controls are planning to merge in what is being called another tax inversion deal that will create an industrial conglomerate with annual revenue of more than $32 billion. The deal is the latest corporate tax inversion in which a company based in the U.S. acquires a foreign business and then switches headquarters to the home of the foreign company due to it paying lower corporate taxes. Johnson Controls based in Milwaukee will shift it global as well as legal headquarters to those of Tyco in Cork... 
 

Starbucks Stock Drops Following Miss on Profit

Starbucks Corp forecast earnings for the current quarter that were below estimates on Wall Street as well as reporting slower growth across Asia than many hoped, sending shares down close to 4% in Thursday extended trading despite the coffeehouse chain having strong holiday sales. Investor expectations usually are very high for Starbucks after over a 46% run-up in stock during 2015, and the coffeehouse has bet heavily on expansion in China, despite signs of growth cooling in the world’s second largest economy. The company’s stock slipped in... 
 

Goldman Sachs Tops Wall Street on Revenue, Profits Drops

Goldman Sachs Group posted revenue for the fourth quarter that beat estimates of analysts as its fee from merger consulting jumped by 27%. Net income fell over 65% on the costs of settling a probe into mortgages. Revenue was down by 5% to end the quarter at $7.27 billion, which was higher than analyst estimates of $7.17 billion. Net income was down, ending the quarter at $765 million equal to $1.27 per share, compared to over $2.17 billion equal to $4.38 per share, after the company agreed to settle a probe by U.S. authorities into the handling... 
 

Daimler Returning to Iran To Manufacture and Sells Trucks

Germany based Daimler on Monday said it signed new letters of intent with the Mammut Group and Iran Khodro Diesel as part of the truck maker’s return into Iran’s market. The areas included in the new cooperation include one joint venture related to the production of Mercedes Benz trucks locally and powertrain components, as well as establishing the sales company for the same Mercedes trucks and the components. In addition, plans exist for Daimler to become a shareholder again in the joint ventures for engines the Iranian Diesel Engine Manufacturing... 
 

BHP Billiton May Reduce Dividend On Lower Oil Prices (NYSE:BBL)

Global miner BHP Billiton may be forced to cut its dividend for the first time in over 25 years. Some analysts believe that the company can’t afford to maintain its dividend policy without taking its balance sheet into uncomfortable territory. Moody’s and Standard & Poor’s have both flagged the progressive dividend as a potential risk to BHP’s credit rating. The company announced on Friday that it will write down the value its U.S. shale assets by $7.2 billion. The hefty impairment in U.S. shale will be about $4.9-billion post-tax. The... 
 

Retail Sales in U.S. Drop by 0.1% During December

American Consumers during December curbed spending, making for a lackluster end to the year that was marked by slowing consumption despite the labor market steadily improving and months of inexpensive gasoline. Sales at restaurants and retail stores were down by 0.1% from November to $448.1 billion during December, the Department of Commerce announced on Friday. Compared with the previous year, sales were up 2.1%, the slowest increase during the now six-year expansion. Economists surveyed expected a drop in December of 0.1%. Retail sales were up... 
 

United Airlines: Paris Attack Hurting Passenger Counts

United Continental announced that the recent Paris terrorist attacks have put a dent in the airlines passenger counts. The airline, based in Chicago, Illinois said the bombings and shooting that took the lives of 130 or more people this past November in the capital city of France are amongst the factors that are expected to cause its passenger revenue for the fourth quarter to drop more than be been expected. United added that its corporate customers that are in the energy industry, which has taken a huge downturn due to the lower prices of both... 
 

Electrolux CEO Leaving Following Failed GE Deal

Electrolux the maker of home appliances in Sweden, said Monday that Keith McLoughlin its current CEO would retire and the company would replace him with Jonas Samuelson a senior executive, only a month after the company’s biggest deal in history collapsed. McLoughlin is to hand over the reins to Samuelson on February 1. Samuelson, who is 47, was the CFO previously before taking over the Europe, Africa and Middle East division of the company. He joined the company in 2008. The senior executive change comes one month after the company’s huge deal... 
 

Numerous Cities To See Cheaper Uber Fares This Month

Uber Technologies has announced that the company will drop prices in more than 100 cities in the United States and Canada, with many of the fare reductions starting on Saturday. The price cuts will vary by region, with some areas getting bigger discounts than others. Prices in Houston will be cut by 20 percent. Richmond, Virginia will see prices cut by 15 percent. Los Angeles and San Francisco will see 10 percent price cuts. Prices in some cities, including New York and Chicago, will remain unchanged for now. It’s not often that you hear of... 
 

Ford Motor Recorded Sales of 1.1 Million in China for 2015

Ford Motor Company set a new sales record in 2015 in China as its annual sales of Ford brand vehicles reached 1,115,125, which was an increase of 3% over 2014. December was also a month for a new sales record as Ford sold 124,669 vehicles, which was 27% higher than December of 2014. Ford experienced another strong year during 2015 in China with sales growth and as well as portfolio expansion, said Ford Motor China CEO and Chairman John Lawler. Lawler added that the record performance had set the stage to have a strong 2016, as the portfolio will... 
 

Square Puts Conservative Price Range on IPO

With odds not stacked in its favor, as a CEO splits time between two businesses, no profitability and a market that is untenable for new offerings, Square placed a conservative valuation on Friday for its IPO. Square announced that it was asking Wall Street investors to value the payments provider at a just over $3.9 billion, which was the midpoint of its price range for its soon to be released initial public offering. Even at the company’s high end the valuation was just $4.2 billion, which represented a discount of 30% to the $6 billion that... 
 

SeaWorld Profit Hit by Battle with Public Image

SeaWorld Entertainment fighting negative press regarding the treatment it gives its killer whales, posted sales and profit that were weaker than had been expected for the third quarter as closures of parks amidst bad weather and higher costs linked to public relations and legal matters dented its results. SeaWorld has been struggling to counteract negative pressure and attention from groups for animal rights over it treating of killer whales after the documentary Blackfish released in 2013, shined unflattering light on the methods of the company. The... 
 

Michael Hammond Gateway Co-Founder Dead Aged 53

Gateway, the computer maker co-founded by Michael Hammond that he began in a farmhouse in Iowa and was known for shipping products inside boxes with the design of a spotted cow, died at home is Sioux City, Iowa. Hammond was 53. The death was confirmed by Korey Robinson a funeral home director in Iowa. A spokesperson for the medical examiner’s office in Woodbury County said that office had yet to release any autopsy results. Hammond and Ted Waitt, who was also originally from Iowa, started Gateway while in their 20s back in 1985. Initially the... 
 

American Eagle Sales at Same-Stores Climb by 9%

On Tuesday, American Eagle Outfitters announced that its sales at same stores for the most recent quarter increased by 9%, leading the retailer of teen apparel to increase its forecast for earnings for the period to 34 cents a share. The company had expected previously that earnings would be from 28 cents to 31 cents a share for the quarter, compared with 22 cents a share for the same quarter one year ago. Teen retailers such as American Eagle as well as Abercrombie & Fitch, its rival, have faced tough competition from retailers of fast fashion,... 
 

Chipotle Shares Tumble Following Outbreak of E. Coli

Chipotle Mexican Grill saw its shares plunge by over 5% after the burrito maker was linked to an outbreak of E. coli, prompting the chain to close dozens of its restaurants in Seattle, Washington and Portland, Oregon. Forty-three of the restaurants in the two cities were shuttered after six were connected to the E. coli outbreak, which has sickened at least 20 over the past two weeks, said the company based in Denver during the weekend. Chipotle was down over $31.70 on Monday, which erased more than $1 billion from the company’s market value. The... 
 
© 2006-2016 The Vista Voice. Subscribe