NYSE Euronext’s speedy rejection of a bid from Nasdaq OMX Group Inc and IntercontinentalExchange Inc could play into their hands, a veteran of the last bidding war for a U.S. exchange said. Get the full story »
McDonald’s franchisee could see $1B IPO
McDonald Corp.’s biggest franchisee, Argentina-based Arcos Dorados Holdings Inc., is expected to go public this week in an offering whose value could approach $1 billion, the latest sign that the market for initial public offerings is heating up. Get the full story »
Slot-maker WMS sees shares fall on 3Q forecast
A machine at the offices of WMS Gaming, located at 3401 N. California in Chicago. (Phil Velasquez/Chicago Tribune)
Shares of Waukegan-based WMS Industries Inc. fell more than 17 percent Tuesday, a day after the slot-machine maker warned that its third-quarter earnings would miss Wall Street expectations.
After the market’s close Monday, WMS said sluggish demand for its slot machines meant it would likely earn 40 cents to 42 cents a share on revenue of $191 million to $193 million for its fiscal third quarter. Analysts surveyed by Bloomberg had predicted the company would earn 52 cents a share. Get the full story »
CBOT corn tops wheat for first time in 15 years
Central Illinois farmer Gary Niemeyer, not pictured, unloads harvested corn grain near Auburn, Ill., in this photo from 2008. (AP File Photo/Seth Perlman)
For the first time in 15 years, wheat prices fell below those for corn on Tuesday, opening the door wider for wheat, which is used to make cakes and bread, to become fodder for livestock and poultry.
Soft red winter wheat futures briefly traded below prices for corn at the Chicago Board of Trade, the pinnacle of corn’s climb to record highs this week amid dwindling U.S. supplies. Get the full story »
Oil slumps on Goldman warning, demand fears
Crude fell more than $3 on Tuesday as Goldman Sachs warned again of a price reversal and key forecasters said expensive oil could erode demand. Get the full story »
Boeing appears conflicted on 737 decision
A Southwest Airlines Boeing 737-7H4 passenger jet prepares to land at Midway Airport on April 5, 2011. (Scott Olson/Getty Images)
Boeing Co. may be leaning toward building a new version of its best-selling 737 narrowbody jet, but industry experts said Tuesday the company seems to be conflicted on the matter and appears increasingly less likely to make a decision in the next few months.
Boeing is deciding whether to redesign the 737 or simply put a more fuel-efficient engine in the existing design as its top rival Airbus intends to do with its competing A320. Get the full story »
Whirlpool closing call center
Appliance maker Whirlpool Corp. is closing one of its three U.S. contact centers because of a decreasing number of calls received from customers needing assistance. Get the full story »
Prices of cotton goods could jump 10%
Cotton prices have soared to record highs following a global supply shortage. (Reuters/Stringer/Files)
This summer, shoppers will be paying 10 percent to 15 percent more on all cotton products, according to a new industry survey.
“I can’t recall a time when we’ve seen this type of retail price [ increase ] on cotton products,“ said Andrew Tananbaum, CEO of Capital Business Credit, which provides financing to clothing and home furnishing suppliers. Get the full story »
State Farm plans mileage-based premiums
State Farm plans to begin increasing or lowering some of its Illinois policy holders’ rates next year based on how far they drive.
The Bloomington-based company says its new Drive Safe and Save program will only be available to its customers who have OnStar devices on their vehicles and use its vehicle diagnostics tracking tool. Get the full story »
American Girl cuts jobs in Wis., Calif.
American Girl is cutting staff. Eleven jobs were eliminated Tuesday in Wisconsin, 13 in Los Angeles, and more positions could end this summer, spokeswoman Julie Parks said. There were no layoffs in Chicago, the company said. Get the full story »
30-second spots on Oprah finale fetching $1M
(Frederick M. Brown/Getty)
CBS Corp.’s syndication arm is asking $1 million for 30 seconds of national commercial time for the final week of Oprah Winfrey’s TV show in May, ad buyers say.
The stratospheric rate comes close to rivaling events like the Academy Awards, for which ad buyers said they paid between $1.7 million and $1.8 million for a 30-second spot earlier this year. Get the full story »
Abbott’s Humira tarnished by patient resistance
From Bloomberg News | Abbott Laboratories’ Humira spurred resistance in more than a quarter of patients taking the rheumatoid arthritis drug in a study, a finding that may weaken demand for the company’s top-selling medicine. Get the full story>>
Sears among companies helping military families
The White House is partnering with Wal-Mart Stores Inc., Sears Holdings Corp. and Siemens AG to help struggling military families find jobs as part of an initiative partially overseen by Gen. Stanley A. McChrystal.
Each company will offer different services for military spouses and veterans as part of an initiative–called Joining Forces–formally launched Tuesday by President Barack Obama, First Lady Michelle Obama, Vice President Joe Biden and Dr. Jill Biden. Get the full story »
Hearing resumes on Tribune reorganization
A Delaware bankruptcy judge has resumed a hearing to determine whether he should approve Tribune Co.’s proposed reorganization plan. Get the full story »
Gap CEO’s pay package rises 18% in 2010
Gap CEO Glenn Murphy received compensation worth nearly $6 million in 2010, an 18 percent increase from the year before, according to an analysis by The Associated Press. Get the full story »
