Market News
CVS Caremark (CVS)
CVS's third-quarter profit increased 39% to $1.02 billion, or 71 cents a share, from $736 million, or 50 cents a share, a year earlier. Excluding acquisition-related costs, earnings rose to 76 cents from 60 cents. Adjusted earnings from continuing operations were 65 cents per share, excluding an 11 cent income tax benefit. Revenue rose 18% to $24.64 billion, in part on the acquisition of Longs.
Profits were stronger than expected.
Nov 5 · 10:21:00 AM · Source: Company News Release
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by Larry Etter
Unemployment
The number of U.S. workers filing new claims for jobless benefits declined more than economists expected last week, the U.S. Labor Department said in its weekly report Thursday.
Total claims lasting more than one week, meanwhile, also decreased.
Nov 5 · 10:18:00 AM · Source: Wall Street Journal
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by Larry Etter
Cisco (CSCO)
Cisco Wednesday reported a quarterly profit of $1.8 billion, or 36 cents a share, compared with a profit of $2.2 billion, or 42 cents a share, for the same quarter a year ago. Revenue for the first fiscal quarter in 2009 was $9 billion, down from $10.3 billion during the same quarter a year prior.
Nov 4 · 6:53:00 PM · Source: Company News
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by Larry Etter
Entergy (ETR)
Entergy remains committed to spinning off five of its nuclear power plants into a stand-alone company, but the company's CEO suggested a possible alternative Tuesday if it can't win regulatory approval in New York.
Entergy Chairman and Chief Executive J. Wayne Leonard said the company could spin off its utility businesses into a stand-alone company to accomplish the same goal of separating its regulated utility businesses concentrated in the Southeast from its nuclear plants that sell power at market prices.
"We don't expect to go down that route, but it is a path to get you back to where you were. It just takes us longer and (requires) more regulatory approvals," said Leonard, speaking at the Edison Electric Institute's financial conference in Florida.
Nov 4 · 4:32:00 PM · Source: The Wall Street Journal
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by Michael Oliveto
Entergy (ETR)
Entergy said it has agreed to acquire the 580-megawatt Acadia 2 natural gas-fired unit near Eunice, Louisiana, from independent Acadia Power Partners LLP.
The combined-cycle unit, completed in 2002, becomes one of the most efficient gas-fired units in Entergy Louisiana's fleet and will help lower the utility's fuel costs, Entergy said in a release.
Nov 4 · 4:28:00 PM · Source: Reuters
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by Michael Oliveto
Entergy (ETR)
The Board of Directors of Entergy Corporation has declared a quarterly dividend of $0.75 per common share. The payment date is December 1, 2009, to stockholders of record on November 12, 2009.
Nov 4 · 4:26:00 PM · Source: Reuters
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by Michael Oliveto
EMC (EMC)
EMC, Cisco, and VMware unveiled a joint venture to help sell a new integrated data center product, part of a broader alliance between the three giants as tech companies move to offer a wider range of products and services.
The joint venture, called Acadia, will help sell and provide support to large businesses and cloud service providers for the new product, named V-Block, combining EMC's storage equipment, Cisco's virtualized servers and networking gear, and VMware's virtualization technology.
Nov 4 · 4:22:00 PM · Source: The Wall Street Journal
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by Michael Oliveto
Devon Energy (DVN)
Devon Energy reported Q3 earnings of $1.13 per share on net income of $499 million versus $5.93 per share on net income of $2.6 billion in the year ago period.
"Year to date, Devon increased oil and gas production eight percent compared with 2008," commented President John Richels. "The performance of the company's oil and gas properties has continued to exceed our expectations throughout 2009."
Nov 4 · 3:59:00 PM · Source: Company News Release
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by Michael Oliveto
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