PFG President Subpoenaed to Testify
Peregrine Financial Group President Russell Wasendorf Jr. has been subpoenaed to testify before a federal grand jury in connection to an investigation into the failed brokerage.
US Government Prohibits Enbridge From Restarting Wisconsin Pipeline
CALGARY, Alberta--U.S. regulators prohibited Enbridge Inc. (ENB) from restarting an oil pipeline in Wisconsin, saying the pipeline company must perform additional tests.
Marathon Petroleum Earnings Up on Speedway, Refining Gains
Marathon Petroleum Corp.'s (MPC) second-quarter profit edged up 1.5% in its first full year as a standalone company, as the refining and pipeline company booked profit gains in its Speedway and refining and marketing segments.
Anxious Markets Trend Lower in July Finale
Wall Street dipped lower Tuesday afternoon as a slew of mixed economic headlines are mostly ignored and market participants instead count down the hours until the conclusion of highly-anticipated meetings at the Federal Reserve and European Central Bank.
Pfizer's Profit Rises 25% on Lower Costs; Sales Fall
Drug maker Pfizer Inc. (PFE) reported a 25% increase in second-quarter profit, as lower expenses helped cushion sales erosion from the loss of market exclusivity for blockbuster cholesterol-lowering drug Lipitor.
STREET MOVES: Merrill Lynch Hires Two Barclays Financial Advisers
Bank of America Corp.'s (BAC) Merrill Lynch Wealth Management unit hired Matt Celenza and Larry DiGioia, a team of high-producing financial advisers, from Barclays PLC's (BCS) U.S. wealth business, who worked just four months at the firm.
Cummins' 2nd-Quarter Profit Falls 7.1%; China Revenue Down Sharply
Cummins Inc.'s (CMI) said Tuesday demand for its engines has fallen sharply in China and other overseas markets causing the company's second-quarter profit to slip 7.1% from a year ago.
Southern Copper Makes Slight Changes to Production Forecasts
LIMA, Peru--Southern Copper Corp. (SCCO, SCCO.VL) said Tuesday that it has made minor changes to its production forecasts over the next few years, seeing lower copper output than previously expected.
Entergy Profit Rises; Indian Point Approvals Drag On
Entergy Corp. (ETR) reported higher second-quarter earnings, thanks largely to a tax benefit, and said it remained focused on winning approvals to operate the Indian Point nuclear plant for another 20 years.
U.S. Drought Conditions Worsen
Drought conditions gripping much of the U.S. are worsening for corn and soybean farmers, and the damage is now spreading to cotton fields in the Southwest, the U.S. Department of Agriculture said Tuesday.