Nike Inc. first-quarter results, coming Tuesday, expected to showPORTLAND, Ore. — Nike Inc. is scheduled to report earnings for its fiscal first quarter on Tuesday after the market closes. The following is a summary of key developments and analyst opinion related to the period. Nike’s first-quarter profit unchanged from a year ago even as worldwide revenue fellBEAVERTON, Ore. — Nike Inc. says its first-quarter profit was almost unchanged from a year ago as consumers around the globe continued to limit their spending. Nike’s first-quarter earnings performance at a glanceSports apparel company Nike Inc. reported results for its fiscal first quarter on Tuesday. GE’s Immelt warns less lending, high unemployment to drag on US economic recoverySINGAPORE — General Electric Co. chief executive Jeffrey Immelt warned Tuesday that high unemployment and slower lending will drag on U.S. economic growth, likely resulting in the weakest recovery in decades. Nike’s 1st-qtr profit nearly unchanged from a year ago, even though worldwide revenue fellPORTLAND, Ore. — Nike Inc. said Tuesday that as consumers around the globe limited their spending its first-quarter profit was nearly unchanged from a year ago, but it beat expectations. Olive Garden-owner Darden says 1st-quarter profit rises 15 pct even as sales fallORLANDO, Fla. — Darden Restaurants Inc., owner of the Olive Garden and Red Lobster chains, said Tuesday that its first-quarter profit rose 15 percent even as sales fell because food costs were lower than expected. Gannett expects 3rd-quarter earnings to top Wall Street estimates; sales missNEW YORK — Gannett Co., the largest newspaper publisher in the U.S., said third-quarter earnings should far outpace expectations despite a narrow shortfall in revenue, as layoffs and falling newsprint costs help offset weak advertising sales. Real estate magnate’s empire was collapsing before he allegedly shot wife in Fla. mansionWINDERMERE, Fla. — Florida authorities have released a video that shows a prominent developer charged in his wife’s death joking during a jail visit with his daughter and sister-in-law. Micron Technology reports narrower-than-expected 4Q loss, says market beginning to improveBOISE, Idaho — Semiconductor maker Micron Technology Inc. on Tuesday posted a narrower-than-expected loss for its fiscal fourth quarter and the market is beginning to improve. Star Tribune preparing to emerge from bankruptcy protection, actively seeking new publisherMINNEAPOLIS — The Star Tribune is preparing to emerge from bankruptcy protection and is actively seeking a new publisher. Star Tribune emerges from bankruptcy protection with new ownership, reduced debtMINNEAPOLIS — The Star Tribune of Minneapolis has emerged from bankruptcy protection with new ownership and reduced debt. Investors look to busy week of economic data to bring more clarity on economy’s recoveryNEW YORK — Investors are just not sure where the economy is headed. And so the stock market may be in limbo for a while. FairPoint says it hopes to restructure debt but still may have to file for Chapter 11CHARLOTTE, N.C. — Troubled phone company FairPoint Communications Inc. said Monday that it’s in talks with some of its lenders in hopes of restructuring its debt, but still may be forced to file for bankruptcy protection. AP Source: Chrysler to improve midsize cars, keep Mich. factory open until new model developedDETROIT — Chrysler will try to improve its slow-selling midsize cars and keep making them indefinitely at a Sterling Heights, Mich., assembly plant until it can design a replacement based on Fiat technology, a person briefed on the company’s business plan said Monday. Stocks jump as investors see burst of takeovers as good sign for a recoveryNEW YORK — Corporate dealmaking is boosting investors’ hopes for a recovery in the economy. Talecris Biotherapeutics to raise about $515M in week’s largest IPO, proceeds to pay debtNEW YORK — Talecris Biotherapeutics Inc. is expected to go public this week after a two-year pause, potentially giving the two private equity firms behind the biotechnology company a payday while allowing Talecris to pay debt. Chrysler trying to refit Fiats to match US tastes, bolster its lackluster lineupDETROIT — Chrysler thinks its future may be in a new lineup of smaller cars based on models from Italian partner Fiat. The question is how to make them for Americans put off by stiff suspensions, firm seats and — perish the thought — not enough cupholders. KB Home, Sara Lee, Brunswick, AmeriCredit are among big market movers FridayNEW YORK — The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange: Homebuilder KB Home loses $66M in fiscal 3rd-qtr, cheaper homes more popularLOS ANGELES — KB Home set out to compete with foreclosures last year by building smaller, more affordable homes, and the homebuilder’s decision is paying off. Stocks fall as durable goods orders, new home sales lag expectations; Dow loses 42 pointsNEW YORK — Investor confidence suffered another blow Friday as disappointing reports on manufacturing and home sales stirred worries that the economy will struggle to recover. Biovail shares gain ground as J.P. Morgan analyst issues ‘Overweight’ rating on outlookNEW YORK — Shares of Canadian drug developer Biovail Corp. rose Friday after a J.P. Morgan analyst started coverage on the stock with an “Overweight” rating and $19 price target. AP Source: New Chrysler board considering new vehicles with Fiat technologyDETROIT — A person briefed on the agenda says the new Chrysler Group LLC board will discuss plans for a number of new models, some based on cars sold by Italy’s Fiat Group SpA. New home sales in August inch up 0.7 percent, but results miss Wall Street expectationsWASHINGTON — The housing market is making a comeback, but it’s not impressing anybody. New home sales rose a tepid 0.7 percent last month, missing Wall Street expectations. Homebuilder KB Home loses $66M in fiscal 3rd-qtr, misses Wall Street’s estimatesLOS ANGELES — KB Home posted a smaller third-quarter loss on Friday as new home orders increased and the builder cut costs. Simmons plans to file for Ch. 11 bankruptcy protection as part of restructuring planATLANTA — Simmons Co., the maker of Beautyrest mattresses, said Friday that it plans to file for Chapter 11 bankruptcy protection, a move that will put new owners in charge of the bedding unit and significantly lower the company’s debt. UAW President Ron Gettelfinger says talks with Ford continue, fine line to walkPLYMOUTH, Mich. — United Auto Workers union president Ron Gettelfinger said Thursday that while the group continues to discuss additional contract modifications with Ford Motor Co. both sides are working to maintain a good relationship. Major companies tentatively scheduled to report quarterly results during week of 9/28/09Major companies tentatively scheduled to report quarterly earnings next week: H&R Block CEO outlines strategy for gaining, retaining tax preparation clientsKANSAS CITY, Mo. — Tax preparation giant H&R Block Inc. hopes to attract new clients in the coming year with better service at its offices and advertising that reminds the public of its traditional strengths, Chief Executive Officer Russ Smyth said Thursday. Rite Aid 2Q loss shrinks on cost cuts, pares yearly outlook due to recession, unemploymentNEW YORK — Rite Aid Corp. on Thursday reported a smaller second-quarter loss than a year ago as it cut expenses, but the nation’s third-largest drugstore operator lowered its expectations for the fiscal year due to the weak economy and high unemployment. Tribune, bondholders reach agreement on access to buyout recordsWILMINGTON, Del. — Attorneys representing Tribune Co. in its bankruptcy case have reached an agreement with bondholders over access to records of the 2007 buyout that took the company private. |
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