Stock News

Cisco Systems Inc.’s share price down, to cut 6 000 employees as it struggles to return to growth

Cisco Systems Inc., the worlds biggest networking-equipment manufacturer, is to take another round of job cuts after reporting a quarter of poor sales growth. The company revealed that it is to eliminate 6 000 jobs, which takes the total lay-offs to 18 000 over the last three years. The latest job reductions in Cisco Systems […] Read more

Amazon.com Inc.’s share price up, releases its Local Register credit-card reader and application to bolster offline presence

The biggest online retailer in the world – Amazon.com Inc. revealed its Amazon Local Register, making its first steps in the mobile-checkout market. The company is challenging some start-ups such as Square Inc. with its Amazon Local Register – a new free smartphone and tablet application and $10 card reader that plugs into a handheld […] Read more

Intel Corp.’s share price up, to acquire Avago’s Axxia networking business for $650 million

Intel Corp., which is currently the biggest computer-chip manufacturer in the world, reached an agreement with Avago Technologies Ltd to acquire its Axxia networking unit for $650 million. According to a statement made by Avago Technologies Ltd, Intel will pay $650 million in cash to acquire the networking business of the company, which was reported […] Read more

Deere & Co.’s share price down, cuts full-year profit forecasts and reduces production amid weaker farm economy

The biggest agricultural-equipment manufacturer in the world – Deere & Co. cut its profit forecast for the fiscal year. The company also said it has decided to reduce production because record crops weigh both on grain prices and U.S. farmers spending. Mr. Samuel R. Allen, the Chairman and Chief Executive Officer of the company, said […] Read more

E.ON SE’s share price up, posts better-than-expected first-half net income

E.ON SE, Germanys largest utility company by market value, posted a first half profit that surpassed median analysts forecasts, benefited by the Generation business of the company and some cost savings. Shares of the company rose as much as 5.6%, the most since September, and changed hands for 13.90 euros. One of the analysts, who […] Read more

Merck KgaA’s share price up, posts rising Q2 profit as AZ acquisition offsets negative currency effects

The German pharmaceutical company, Merck KGaA, made an official statement today, posting a 2.3% rise in second-quarter profit, as the AZ Electronic Materials SAs takeover helped compensate the effect of a stronger euro. The Chairman of the companys executive board – Mr. Karl-Ludwig Kley said in the statement, which was cited by the Wall Street […] Read more

Cathay Pacific Airways Ltd’s share price down, first-half profit rises 14 times, but misses analysts’ forecasts

Mr. John Slosar, who is a Chairman of Cathay Pacific Airways Ltd said in the companys statement, which was cited by Bloomberg: “The operating environment for the Cathay Pacific Group and the aviation industry as a whole remains challenging. This makes it difficult to maintain yields. We expect business to be better in the second […] Read more

Tata Motors Ltd’s share price, reveals first new model in four years while posting a threefold jump in profit

The largest auto manufacturer by revenue in India – Tata Motors Ltd – revealed its first new vehicle model in four years. This step is considered a fine example of the companys attempts to succeed at its home market, especially considering the fact that its Land Rover and Jaguar brands are being quite successful worldwide. […] Read more

AOL Inc.’s share price down, raises more than $300 million to fund ad business expansion

AOL Inc. shared in a statement that it intends to raise as much as $345 million by selling convertible notes. The sale is supposed to provide funds that could be used by the company to proceed with the planned expansion in the advertising market through some future acquisitions. The offering marks the first time the […] Read more

Prudential Plc’ share price up, reports rise in first-half profit thanks to U.S. operations

Prudential Plc, currently the UKs largest insurer by market value, posted today higher-than-expected profit over the first six months of the fiscal year. The upbeat results of the company were tied to the fact that its U.S.-based business helped offset a sales decline from individual annuities sold in the U.K. Chief Executive Tidjane Thiam said […] Read more