Archive for February, 2012
Finisar Q3 net drops 53%; Q4 view downbeat
Finisar Corp.’s FNSR -10.79% fiscal third-quarter earnings fell 53% as lower demand pushed down the telecommunications equipment provider’s sales, prompting a cautious current-quarter outlook. Shares fell 9.2% to $18.42 after-hours Wednesday as the company forecast adjusted fiscal fourth-quarter earnings between 18 cents and 22 cents a share on revenue of $235 million to $250 million. [...]
Caterpillar to take over Japanese venture
Caterpillar Inc. CAT -0.18% plans to take sole ownership of its Japanese joint venture in the second quarter after partner Mitsubishi Heavy Industries Ltd….
Toshiba to sell Thai HDD unit to Western Digital
Toshiba Corp. said Wednesday it will sell its hard disk drive manufacturing subsidiary in Thailand, Toshiba Storage Device (Thailand) Co., to Western Digital Corp. WDC +1.55% .
Barclays auditor raised tax-scheme concern: report
Barclays PLC’s (BCS, BARC.LN) auditor raised concerns over two tax avoidance schemes created by the bank that were later rejected by the tax authorities as “highly abusive,”…
Southwestern Energy fourth-quarter net up 6%
Southwestern Energy Co.’s SWN -4.81% fourth-quarter earnings rose 6% as the energy producer benefited from higher production and strength in its midstream business,…
Kraft-Starbucks arbitration hearing set for July
Kraft Foods Inc.’s KFT +0.61% date with Starbucks Corp. SBUX -0.14% in arbitration court is set for July.
Universal Bioenergy, Inc. (UBRG)
Universal Bioenergy Inc. is an independent diversified energy company, headquartered in Irvine, California.
Newcrest: Problems at Lihir to dent production
Newcrest Mining Ltd. said Friday problems at its Lihir gold operation in Papua New Guinea are expected to impact production in the March quarter by 50,000-60,000 ounces,
P&G sees $10 bln in cost cuts; to slash 4,100 jobs
Procter & Gamble Co. PG +0.20% shares rallied as the company unveiled a plan to cut $10 billion in costs over the next four years by cutting jobs,…
Skullcandy swings to profit on strong sales
Skullcandy Inc. SKUL -1.01% swung to a better-than-expected fourth-quarter profit as the music-headphone maker reported double-digit percentage sales growth in the U.S. and abroad.
Yamana Gold Q4 net profit falls 29% on impairment
Yamana Gold Inc.’s (AUY, YRI.T) fourth-quarter earnings fell 29% as a result of an impairment charge, though revenue increased.
Chunghwa Telecom warns on 2012 net profit
Chunghwa Telecom Co. CHT -0.93% , Taiwan’s largest telephone company by revenue, said Wednesday it expects its net profit to fall 16.8% this year to NT$39.2 billion (US$1.33 billion)…
Bank of China to open new Shanghai office in March
Bank of China Ltd. , one of China’s four largest state-run banks, will open a second head office in Shanghai next month, the China Business News reported Wednesday, citing an unnamed source.
Toshiba gets $470M India thermal-power order
Toshiba Corp. said Monday that its Indian unit has received an order worth around $470 million for three steam turbines and generators from an Indian state-owned energy company.
Leighton unit gets $515 mln Dubai deal
Australian construction company Leighton Holdings Ltd. said Tuesday that one of its business units received a US$515 million contract for work on the Habtoor Palace development in Dubai,…
AIG reviews Benmosche replacement plan
American International Group Inc. AIG -0.56% will review its list of candidates to replace Chief Executive Robert Benmosche after the company’s chairman,…
Lenovo: Lanci relationship conforms with law
Lenovo Group Ltd LNVGY -0.56% said Wednesday it is confident that its relationship with its new Europe,…
Transurban profit up on traffic volumes, cost cuts
Transurban Group on Tuesday reported a 25% rise in first-half profit driven by increased toll revenue and lower costs, while maintaining its full year distribution guidance.
AMR’s American Air traffic up 1.4% in January
AMR Corp.’s AAMRQ -1.01% American Airlines saw a modest improvement in traffic last month as the carrier reported increases in international traffic and overall capacity.
Chunghwa Telecom to expand workforce by 8% in 2012
Chunghwa Telecom Co. , Taiwan’s largest telecommunications operator by subscribers, plans to expand its workforce by around 8% this year to tap into new business opportunities brought on by the closer economic ties between Taiwan and China,…
