Lifeway Foods Inc. reported Monday that its net income fell in the third quarter as the food maker’s costs rose. Get the full story »
Filed under: Stock activity
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Amazon hurt by rivals’ free shipping, deals
Amazon.com shares tumbled as much as 4 percent Monday on concerns that offers of free shipping by Wal-Mart Stores Inc and other retailers could challenge the online company’s results. Get the full story »
Buffett sells Carmax, Home Depot stakes
Warren Buffett’s Berkshire Hathaway no longer held stakes in used car retailer Carmax, home improvement retailer Home Depot or waste manager Republic Services as of September 30, according to a filing with securities regulators on Monday. Get the full story »
Bayer, J&J anti-clot drug shines in stroke trial
A once-daily pill being developed by Bayer AG and Johnson & Johnson was better at preventing stroke than standard treatment, with less risk of the most worrisome types of bleeding, researchers said on Monday. Get the full story »
Fortune Brands reportedly considering a breakup
Fortune Brands Inc., the maker of Jim Beam bourbon and Moen faucets, is growing likely to cooperate with activist shareholder William Ackman on a plan to split up the company’s three business units, people familiar with the matter said.
There is no guarantee that efforts to spin off or sell the golf equipment, spirits and home-products businesses will succeed, given the complexity inherent in untangling and valuing the three divisions, the people cautioned. Get the full story »
Boeing downgraded on continued 787 woes
Shares of Boeing Co. fell more than 2 percent in early trade Friday after Sanford C. Bernstein downgraded the stock on concerns about more potential delays for the high-profile 787 Dreamliner.
The program, already nearly three years behind schedule, could face more delays as the company probes the cause of an electrical fire that forced an emergency landing of a 787 test flight this week. Get the full story »
Fund investors still taking bonds over stocks
Mutual fund investors continued to put their money into bond investments rather than U.S. stocks last month, despite the market’s recent gains.
Nov. 10, 2010 at 10:18 a.m.
Filed under: Airlines, Airplanes, Manufacturing, Stock activity, Updated Boeing delays more 787 test flights, shares drop
One test model Boeing 787 passes another on the tarmac before a flight from Boeing Field Wednesday, Oct. 27, 2010, in Seattle. (AP Photo/Elaine Thompson)
Chicago-based Boeing halted test flights of its long-delayed 787 Dreamliner on Wednesday, a day after smoke in the cockpit forced an emergency landing in Texas.
“We have decided to not fly the other airplanes until we better understand the incident,” said Boeing spokeswoman Loretta Gunter. “Whether this lasts all day or shorter or longer remains to be seen. The teams will focus on ground test objectives in the meantime.”
The incident, which involved a runway evacuation of those on board the flight, knocked shares 3.4 percent lower to $66.90 in early trade on the New York Stock Exchange as investors pondered the likelihood of another delay to the program, which is already nearly three years behind schedule. Get the full story »
Kraft shares fall 2.4% on outlook, Starbucks spat
Kraft Foods Inc. shares fell 2.4 percent on Friday, a day after the packaged foods company said its 2011 forecast included an extra week.
The maker of Maxwell House coffee, Cadbury chocolate and Velveeta cheese also said that Starbucks wants to end the companies’ 12-year-old deal whereby Kraft sells packaged Starbucks coffee. Get the full story »
BP gains, with traders citing Exxon bid talk
Shares in BP gained on Friday, with traders citing talk that Exxon Mobil was considering a bid for the oil company.
By 10:29 a.m. EDT, BP shares were up 1.1 percent at 450 pence, having hit an intraday high of 451.35 pence on the rumor. Get the full story »
CBOE: Regulator’s ‘flash crash’ report falls short
The head of the largest U.S. options exchange said a regulator report falls short of explaining what happened in the May “flash crash,” adding to skepticism that has grown since it was released October 1. Get the full story »
Canada blocks BHP-Potash deal
The Canadian government on Wednesday blocked BHP Billiton’s $39 billion bid for Potash Corp., the world’s biggest producer of a key crop nutrient, halting what had been the world’s biggest takeover attempt this year and sending Potash Corp. shares tumbling.
Ottawa said the Anglo-Australian miner’s takeover bid offered no likely net benefit to the country as required by Canadian law. BHP has 30 days to make additional representations to the Canadian government before the decision is final. Get the full story »
Icahn raises stake in Motorola to 11.3%
Activist investor Carl Icahn has increased his stake in Schaumburg-based Motorola Inc. to about 11.3 percent, up from a 10.7-percent holding he disclosed at the end of August.
In filings with the U.S. Securities and Exchange Commission, Icahn said he spent about $120.9 million to buy 15.2 million additional shares of Motorola on Tuesday. Get the full story »
