(TG Daily) — Apple’s making peanuts out of the app store, according to a financial analyst who says it’s netted less than half a billion dollars since its launch two years ago. Gene Munster of Piper Jaffray says Apple’s claims to be running the store at more or less break even point are borne out by […]
(MarketWatch.com) — Wal-Mart Stores Inc., the world’s largest retailer, said Tuesday that its first-quarter profit rose to $3.32 billion, or 88 cents a share, from $3.02 billion, or 77 cents, a year earlier. Sales in the quarter ended April 30 rose 6% to $99.1 billion while membership and other income declined 2.6% to $751 million, […]
(SmartMoney.com) — Buy-and-hold stock investors have long been counseled to calmly endure the market’s short-term price swings in order to collect its handsome long-term returns. Now, two things are making that advice more difficult to accept. First, market movements have become more violent. Forget for a moment about last Thursday afternoon, when erroneous trades contributed […]
(Forbes.com) — James Dolan was a 24-year-old reporter for the San Antonio News in 1973 when an Australian press baron named Rupert Murdoch stormed in and scooped up the paper and its sister, the San Antonio Express. Murdoch experimented furiously, promoting young talents like Dolan (named the News‘ managing editor at age 29), and eventually […]
(Reuters) — Athletic gear giant Nike Inc (NKE.N) expects its revenue to rise more than 40 percent to $27 billion by 2015, helped by demand for its namesake athletic merchandise and fast-growing brands like Converse, the company said on Wednesday. “We’re going to continue to build, fuel and accelerate the Nike portfolio,” said Chief Executive […]
(AP) — Shipping giant UPS is optimistic about the economic recovery it is seeing in countries where it does business around the world. The company made the comments as it formally reported Tuesday a nearly 33 percent rise in first-quarter profit to $533 million, or 53 cents a share, compared to a profit of $401 million, […]
(LA Times) — Companies are pulling in big profits, but that doesn’t mean they’ll be quick to hire. Investors have been buying stocks for nearly 14 months on the assumption that a rebounding economy will bring higher earnings and lower unemployment. Companies’ first-quarter profit reports have been upbeat, and the government released promising numbers showing […]
(AP) — Chrysler Group LLC lost a staggering $3.8 billion from the time it left bankruptcy protection June 10 through the end of last year, but the automaker says its fortunes improved dramatically in the first quarter. The struggling company, now run by Italy’s Fiat Group SpA, cut its net loss to $197 million from January […]
After a bumpy 2009, the nation's largest banks now profit.