General Motors Co. (GM) said Thursday it is selling its entire 7 percent stake in French car maker Peugeot S.A. GM acquired the stake in PSA when the two companies entered into a strategic alliance in March 2012.
GM and Peugeot say they will continue with plans to partner on a new generation light...
After ending the previous session sharply lower, stocks have seen some further downside during trading on Thursday. Worries about the outlook for the Federal Reserve's stimulus program continue to weigh on the markets. Currently, the major averages are all in negative territory.
Business inventories in the U.S. rose by much more than expected in the month of October, according to a report released by the Commerce Department on Thursday. The report said business inventories rose by 0.7 percent in October following a 0.6 percent increase in September. Economists had been expecting inventories to increase by a more modest 0.3 percent.
Stocks have moved mostly lower in early trading on Thursday, extending the substantial downward move seen over the course of the previous session. The major averages have all dipped into negative territory, with the Dow and the S&P 500 hitting their lowest levels in a month.
Home builder Hovnanian Enterprises, Inc. on Thursday reported a turnaround to profit in the fourth quarter on strong revenue growth, while the prior-year quarter's results included wider losses on debt extinguishment. Both earnings per share and quarterly revenues beat analysts' expectations. Looking ahead, the company projects greater levels of profitability in fiscal 2014.
Import prices in the U.S. fell for the second consecutive month in November, according to a report released by the Labor Department on Thursday, with the decrease reflecting another sharp drop in prices for fuel imports. The Labor Department said its import price index dropped by 0.6 percent in November, matching the revised decrease reported for October.
Breast cancer incidence among post-menopausal women at high risk for developing the disease was reduced more than 50 percent by AstraZeneca Plc's (AZN) cancer drug Arimidex, leading researchers say.
The findings on anastrozole, the antihormone therapy marketed as Arimidex, will be presented Thursday...
After reporting a notable drop in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing that initial jobless claims rebounded by much more than anticipated in the week ended December 7th.
Suggesting that the holiday shopping season began on an upbeat note, the Commerce Department released a report on Thursday showing that U.S. retail sales rose by slightly more than expected in the month of November. The report said retail sales rose by 0.7 percent in November following an upwardly revised increase of 0.6 percent in October. Economists had expected sales to increase by 0.6 percent.
Canadian yogawear maker Lululemon Athletica, Inc. Thursday reported a higher third-quarter profit, as net revenues climbed 20 percent from last year. Earnings per share, as well as revenues beat analysts' expectations. The company, however, forecast fourth-quarter earnings and revenues below Wall Street estimates, and cut the upper end of its earnings outlook for fiscal 2013, and lowered revenue..
After ending the previous session sharply lower, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a modestly higher open for the markets, with the Dow futures up by 19 points.
American Airlines Group, Inc. Thursday said it has signed deals with Canadian aerospace and transportation company Bombardier Inc. as well as Brazilian aircraft maker Embraer S.A. to buy a total of 90 new 76-seat regional jets. The world's largest airline has also taken options on additional 130 of these aircraft. The firm orders of both the contracts are together valued at about $3.92 billion.
Eurozone industrial production declined sharply in October, defying expectations for a modest increase, raising concerns regarding the sustainability of the region's feeble recovery. Industrial production fell a seasonally adjusted 1.1 percent month-on-month in October, after dropping an upwardly revised 0.2 percent in the previous month, statistical office Eurostat said.
Network specialist Ciena Corp. reported Thursday a loss for the fourth quarter that narrowed from last year, despite lower margins, reflecting lower charges and double-digit revenue growth. However, adjusted earnings per share missed analysts' expectations, while quarterly revenues topped their estimates. The company also provided revenue guidance for the first quarter, in line with Street.
Wall Street looks set for another lackluster start, with the major U.S. index futures pointing to a lower open. After a lack of any major cues failed to provide markets a direction, a few key economic data are due in the session. The weekly jobless claims and retail sales data have the potential to sway...