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Mitsubishi Electric Corp. (MIELF.PK, MIELY.PK) Wednesday said it received on August 19 an order from Republic of China's National Development and Reform Commission or NDRC for payment of a surcharge amounting to 44.88 million yuan, or approximately 700 million yen. The payment is for infringement...

American Electric Technologies, Inc. (AETI), a supplier of power delivery solutions for the energy industry, late Tuesday said it completed the sale of its American Access Technologies or AAT business to Fabricating Technologies, LLC on August 15 for $2.3 million in cash. The sale did not include...

New York State's financial regulator has ordered UK-based lender Standard Chartered plc (SCBFF.PK, STAC.L, STAN.L) to pay a civil monetary penalty of $300 million and also take other remedial steps for its failure to improve money laundering controls that were required under its previous settlement with...

China-based online recruitment services provider Zhaopin Limited (ZPIN) on Tuesday reported a surge in profit for the fourth quarter from last year, reflecting double-digit growth in revenues. This is the company's first earnings results as a public company. Shares of Zhaopin gained more than 9 percent...

Youku Tudou Inc. (YOKU), the biggest online video company in China, on Tuesday reported a loss for the second quarter that widened from last year as double-digit growth in revenues was more than offset by higher costs and expenses. Looking ahead, the company forecast a sequential increase in revenues...

Jacobs Engineering Group Inc. (JEC) announced that its board of directors approved a program to repurchase up to $500 million of its common stock over the next three years. The company noted that this repurchase program authorization reflects the board's confidence in both its short term prospects...

Auto parts maker Lear Corp (LEA) is on the verge of acquiring automotive leather company Eagle Ottawa LLC for $800 million, the Wall Street Journal said Tuesday, citing people privy to the matter. The Wall Street Journal said a deal could be clinched this week or next. Eagle Ottawa, based in Auburn...

Imaging technology solutions provider Photronics Inc (PLAB), Tuesday reported a steeper-than-expected decline in third-quarter profit, notwithstanding an increase in sales that topped expectations. Moving ahead, Photronics indicated optimism about its growth prospects. Commenting on the strong...

Zhaopin Limited (ZPIN) Tuesday said fourth-quarter income attributable to ordinary shareholders of RMB 54.9 million, or $8.9 million, up from RMB 5.5 million in the same period last year. Net income per ADS for the quarter was RMB 1.12, up from RMB 0.82 last year. Adjusted income attributable to...

Youku Tudou Inc. (YOKU) Tuesday said second-quarter loss widened to RMB 164.4 million, or $26.5 million, from RMB 105.1 million in the same period last year. On a per-share basis, loss widened to RMB 0.05, or $0.01 per share from RMB 0.04 last year. Net loss per ADS for the quarter was RMB 0.88, widerr...

PetSmart Inc. (PETM) reported that its second-quarter net income increased to $98.1 million or $0.98 per share, from $93.4 million or $0.89 per share in the same quarter last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.94 per share for the quarter. Analysts'...

Achillion Pharmaceuticals Inc (ACHN) said Tuesday the U.S. Patent & Trademark Office has granted the company a patent covering composition-of-matter and method of use claims for ACH-3102 and structurally related NS5A inhibitor compounds. ACH-3102 is Achillion's second generation Phase 2 NS5A inhibitor...

Home furniture maker La-Z-Boy Inc (LZB), Tuesday reported a higher first-quarter profit, helped by a 7 percent climb in sales and one-time gains. Nonetheless, earnings missed Wall Street estimates, while sales surpassed expectations. Moving forward, the company expressed optimism regarding its growth...

Botox maker Allergan Inc (AGN) is seeking acquisitions to preempt a hostile bid by Canada-based Valeant Pharmaceuticals International Inc (VRX, VRX.TO). The company has approached Salix Pharmaceuticals Ltd (SLXP) and another firm for possible deals, the Wall Street Journal said, adding that a deal...

Genzyme, a Sanofi company (SNYNF.PK, SNY) announced that it has received approval from the U.S. Food and Drug Administration or FDA for its Cerdelga capsules, the only first-line oral therapy for certain adult Gaucher disease type 1 patients. The company said a small number of adult patients who metabolize...