Chesapeake Energy Shares Rally on Spending Reduction Plans
Investors are cheering the company's plan to stop spending heavily on land and sell $4 billion to $5 billion in assets next year.
Cablevision 2nd-Quarter Profit Falls on Higher Investments
Cablevision Systems Corp.'s (CVC) second-quarter profit fell 28% on higher investment spending and in the absence of a financial contribution from AMC Networks Inc., which Cablevision spun off last year.
Chevron Stops Refinery Fire; Gasoline Prices Up
Chevron Corp. said a fire that broke out at its Richmond, Calif. refinery has affected Unit 4 at the facility, but the main blaze was extinguished earlier in the day. Safety officials are allowing a "small controlled burn" in order to reduce pressure at the refinery, the company said. Chevron
McDonald's Franchiser Arcos Dorados Shares Rally After Results
Shares of Arcos Dorados Holdings Inc. (ARCO), the largest McDonald's Corp. (MCD) restaurant franchiser in Latin America, rose as much as 15% early Tuesday after the company affirmed its revenue outlook for this year, but trimmed cash-flow growth.
Stocks Climb on Central Bank Hopes; S&P Crosses 1400 Mark
The markets climbed on Tuesday, with the broad S&P 500 rising above the 1400 threshold for the first time in three months, as traders responded favorably to hints that central banks may act to boost the global economy.
Energias do Brasil to Raise BRL450 Million From Bonds Issue
The board of Brazil's electric utility, Energias do Brasil SA (ENBR3.BR), authorized the company to raise 450 million Brazilian reais ($222 million) from a nonconvertible debentures issue, it said Tuesday in a statement.
GlaxoSmithKline Buys 400,000 Own Shares to Hold in Treasury
GlaxoSmithKline PLC (GSk.LN), a research-based pharmaceutical and healthcare company said Tuesday that it purchased 400,000 of its Ordinary Shares of 25 pence each, adding that it intends to hold these shares in Treasury.
Samsung: The iPhone is Like 'Heaven' and We're Stuck on Earth
Samsung's mobile chief complained in 2010 that the user interface on the company's devices was severely lacking in comparison to that on Apple's iPhone, according to internal memos revealed in a high-stakes patent trial between the two tech titans.
Pfizer Reaches Settlements in Bribery Cases
Pfizer Inc. (PFE) will make payments that total $60 million in a settlement with the Justice Department and the Securities and Exchange Commission to resolve bribery accusations at two of its international units as well as a subsidiary it acquired with its 2009 takeover of Wyeth.
Glaxo: European Commission Grants Marketing Authorization for Pazopanib
GlaxoSmithKline PLC (GSK.LN), a research-based pharmaceutical and healthcare company said Tuesday that the European Commission has granted pazopanib marketing authorization for the treatment of patients with advanced soft tissue sarcoma or aSTS who have received prior chemotherapy or have