Wall St. extends rebound on earnings, ECB report
By Yasmeen Abutaleb NEW YORK (Reuters) - U.S. stocks rallied on Tuesday, with the S&P 500 notching a fourth straight session of gains boosted by strong corporate results, including Apple's. The S&P 500 and Dow Jones were up more than 1 percent while the Nasdaq rose more than 2 percent, thanks to better-than-expected results from several major tech companies. The bullish tone was helped by a Reuters story that said the European Central Bank is considering buying corporate bonds. ...
Tue, 21 Oct 2014 16:43:25 -0400
Yahoo's revenue rises 1 percent
By Alexei Oreskovic SAN FRANCISCO (Reuters) - Yahoo Inc reported a modest increase in revenue during the third quarter, exceeding lackluster Wall Street targets, as the Internet company's online display advertising business continued to struggle. Shares of Yahoo rose 3 percent to $41.40 in extended trading on Tuesday. For the first time Yahoo disclosed its mobile revenue, which it said was more than $200 million in the third quarter. Yahoo said it expects that gross mobile revenues for the full year will exceed $1.2 billion. Yahoo's revenue, excluding fees shared with partner websites, was $1. ...
Tue, 21 Oct 2014 16:34:16 -0400
Broadcom third-quarter results beat views, stock jumps
By Noel Randewich SAN FRANCISCO (Reuters) - Broadcom posted third-quarter results on Tuesday that exceeded Wall Street's expectations as the chipmaker focused on networking and smartphone chips, sending its shares 5 percent higher. Broadcom, whose wifi connectivity chips are used in Apple's iPhones, reported third-quarter revenue of $2.26 billion, up 5.3 percent from the year-ago period. Analysts on average had expected third-quarter revenue of $2.17 billion, according to Thomson Reuters I/B/E/S. The company said it saw strength in broadband and connectivity chips in the quarter. ...
Tue, 21 Oct 2014 17:28:48 -0400
More lawsuits filed against Honda, Takata over air bags
By Ben Klayman DETROIT (Reuters) - The recall crisis is growing involving Takata-made air bags exploding with too much force and spraying vehicle occupants with metal shrapnel, with two more lawsuits filed over accidents in older Honda cars. News of the lawsuits came a day after Toyota Motor Corp on Monday recalled 247,000 vehicles in the United States because of potentially defective air bags made by Takata Corp . Also on Monday, U.S. safety regulators urged consumers affected by similar recalls to have their cars' air bags replaced as soon as possible. ...
Tue, 21 Oct 2014 16:46:04 -0400
U.S. existing home sales at one-year high, prices up
By Lucia Mutikani WASHINGTON (Reuters) - U.S. home resales raced to a one-year high in September, the latest indication the housing market recovery is gradually getting back on track. A separate report on Tuesday showed service sector activity in the nation's mid-Atlantic region picked up speed this month, another signal suggesting underlying strength in the economy. The National Association of Realtors said existing home sales increased 2.4 percent to an annual rate of 5.17 million units, the strongest reading since September of last year. ...
Tue, 21 Oct 2014 13:39:17 -0400
After huge jet orders, budget airlines eye rich seam of aircraft leasing
By Anshuman Daga and Tim Hepher SINGAPORE/PARIS (Reuters) - From Scandinavia to Southeast Asia, low-cost airlines have ordered record numbers of planes in recent years, redefining the jet industry. Now they plan to lease out scores of their new planes, re-ordering the aviation business all over again. Between them, Indonesia's Lion Air, Malaysia's AirAsia and Norwegian Air Shuttle have ordered more than 1,400 Airbus and Boeing jets, worth about $140 billion at current list prices. ...
Tue, 21 Oct 2014 17:25:18 -0400
Airbus offers long-range version of A321neo, targets Boeing 757
By Victoria Bryan (Reuters) - Airbus Group NV said on Tuesday that it has begun offering airlines a long-range version of its A321neo jetliner, aimed at replacing Boeing Co's 757 jetliner, a long-range single-aisle jet that is no longer in production. "The long-range version of the A321neo will be the ideal 757 replacement with true transatlantic range, 25 percent lower fuel burn and true long-range comfort," an Airbus representative told Reuters. ...
Tue, 21 Oct 2014 16:54:47 -0400
New Total boss must overhaul exploration strategy, pursue cost cuts
By Michel Rose PARIS (Reuters) - The sudden death of Total's top executive may make it even trickier for the French oil major to overhaul its expensive exploration strategy while simultaneously cutting costs to please shareholders as oil prices fall. Total had recently taken the unusual step of naming an outsider to devise a new strategy after a costly three-year drive to increase drilling spending failed to yield significant results - the main blot on Christophe de Margerie's legacy. ...
Tue, 21 Oct 2014 12:44:12 -0400
Coca-Cola announces growth plan as profit falls 14 percent
By Anjali Athavaley (Reuters) - Coca-Cola Co on Tuesday announced new cost-cutting measures and a timeline for selling its bottling operations after its quarterly profit slumped 14 percent and the world's largest beverage maker struggles to find growth amid a soft market for soda. The Atlanta-based company said it would hand back, or refranchise, about two-thirds of its North American bottling territories by the end of 2017, and a substantial portion of the remaining territories no later than 2020. ...
Tue, 21 Oct 2014 12:19:09 -0400
Tough U.S. rivalries, China food scandal pound McDonald's
(Reuters) - McDonald's Corp's - which has not given investors many reasons to sing the fast-food chain's "I'm lovin' it" jingle - on Tuesday said quarterly profit dropped by nearly one-third and warned that global restaurant sales will fall again in October. Stock in the company, which attracted fewer customers during the third quarter, was off 0.6 percent at $91.05 in early trading. McDonald's net income slid 30 percent to $1.07 billion, or $1.09 per share, for the quarter ended Sept. 30. ...
Tue, 21 Oct 2014 10:39:15 -0400
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