News Archive
National | Tue, Jan 29, 2013

Super Bowl sponsors are touting a new rationale for the record $4 million they’re spending on some 30-second spots this year: that viewers of the most-watched U.S. TV event will turn their ads into Internet hits.

New Orleans is awash in money this week, with an estimated $185 million changing hands during the runup to the Super Bowl.

Drugmaker Pfizer Inc.'s fourth-quarter results easily beat Wall Street expectations, driving up its stock, as profit more than quadrupled, due to tighter spending and a $4.8 billion gain from selling its nutrition business.

Confidence among U.S. consumers declined more than forecast in January, reaching the lowest level in more than a year as higher payroll taxes took a bigger bite out of Americans’ paychecks.

Johnson & Johnson failed its own safety test in designing an all-metal hip implant and then changed the protocol instead of fixing the flaw, a witness testified in the first of 10,000 lawsuits to go to trial.

Jan. 29 (Bloomberg) -- Oil in New York rose to a four-month high after home prices in 20 U.S. cities climbed by the most in more than six years, signaling that the country’s economic rebound is accelerating.

Pfizer helped keep the stock market rally alive Tuesday. The drugmaker's stock gained after posting strong earnings, pushing the Dow closer to 14,000.

The highest court in Massachusetts has rejected challenges to a state law that requires gun owners to keep their weapons in a locked container or equipped with a safety device. says its fourth-quarter net income fell 45 percent, as higher revenue failed to keep pace with increased spending on order fulfillment and digital content.

Super Bowl advertisers are learning the art of the tease.

Jan. 29 (Bloomberg) -- California should tax bullets to pay for mental-health programs and to put more police in crime- ridden areas, two Democratic state lawmakers proposed.

The housing recovery continues to be evident among homebuilders, as D.R. Horton's net income more than doubled in its fiscal first quarter on improving home prices and better sales.

Jan. 29 (Bloomberg) -- Eli Lilly & Co. reported fourth- quarter earnings that beat analyst estimates as sales of its top-selling drug, the Cymbalta depression treatment, increased 20 percent, helped by higher prices in the U.S.

Microsoft is aiming its redesigned Office software at the growing number of people who expect their favorite applications to be at their fingertips, wherever there's an Internet connection.

Home prices in 20 U.S. cities rose in November from a year earlier by the most in more than six years, indicating the U.S. housing rebound is gaining ground.

Jan. 29 (Bloomberg) -- A group of investors in the company that controls the Empire State Building sought to block a settlement which would allow the iconic New York skyscraper to be included in a real estate investment trust.

The indestructible Twinkie appears to be one step closer to a comeback.

U.S. home prices accelerated in November compared with a year ago, pushed higher by rising sales and a tighter supply of available homes.

Jan. 29 (Bloomberg) -- The euro rose to its strongest versus the dollar since December 2011 after breaching a technical level amid increasing appetite for risk.

Jan. 29 (Bloomberg) -- Hostess Brands Inc., the bankrupt maker of Wonder bread and Twinkies, picked the team of Apollo Global Management LLC and C. Dean Metropoulos & Co. as the lead bidder for its cake brands, said two people with knowledge of the matter.

even after unemployment has dropped sharply.

A British law firm says that about a dozen Apple customers are suing Internet search leader Google in the U.K. over its alleged secret tracking of their Internet browsing habits.

Jan. 30 (Bloomberg) -- Singapore’s office rents are set to rebound from their first annual decline in three years as new supply shrinks and more businesses expand, according to the biggest office property trust in Asia outside of Japan.

Jan. 29 (Bloomberg) -- Acquisitions of renewable-energy companies in Brazil will rebound from a four-year low as wind- farm developers seek buyers and European companies expand, the industry’s biggest legal and financial merger advisers said.

T. Rowe Price Group on Tuesday said its fourth-quarter earnings rose nearly 23 percent as the investment manager's fee revenue surged. But clients withdrew more cash than they added, and shares of T. Rowe Price fell in morning trading.

Jan. 29 (Bloomberg) -- VMware Inc., the biggest maker of software that enables computers to run multiple operating systems, fell the most since 2008 after forecasting sales that were less than estimates amid cutbacks from corporate customers.

Jan. 29 (Bloomberg) -- Netflix Inc. is doubling its debt with a $400 million, eight-year junk-bond offering as the world’s largest online video service prepares to refinance outstanding debt and boost funds for films and television shows.

Jan. 29 (Bloomberg) -- Pfizer Inc., the world’s biggest drugmaker, forecast 2013 profit of as much as $2.30 a share, higher than analysts’ estimates, after introducing two products with the potential to each generate more than $1 billion a year.

Jan. 29 (Bloomberg) -- Robert W. Duggan, the Church of Scientology’s biggest donor and the chief executive officer of Pharmacyclics Inc., which makes an experimental treatment for chronic lymphocytic leukemia, has become a billionaire after the company’s shares tripled in a year.

Jan. 29 (Bloomberg) -- T. Rowe Price Group Inc., the asset manager that has posted a profit every quarter since going public in 1986, reported earnings that missed analysts estimates as clients pulled money for the first time in five quarters.

EMC posted strong fourth-quarter results, but its outlook and the outlook from majority owned VMware sent shares sliding 7 percent in early trading Tuesday.

A humble 5-cent coin with a storied past is headed to auction and bidding expected to top $2 million a century after it was mysteriously minted.

Auto parts supplier Gentex said Tuesday that its fourth-quarter net income fell 2 percent, weighed down by a patent infringement settlement.

Alaska's Senate Resources Committee has advanced legislation that would change how the state regulates wastewater from cruise ships.

Jan. 29 (Bloomberg) -- Valero Energy Corp., the world’s largest independent refiner by processing capacity, said fourth- quarter profit rose 20-fold as the company boosted its use of discounted U.S. crude.

It's been tame so far, but at some point it's bound to roar back -- which is why a time will come for Bernanke and fellow Fed members to begin to unwind years of financial stimulus by halting the bond purchases and raising interest rates again.

Chastising the NFL Players Association for standing in the way of testing for human growth hormone, two members of Congress told union head DeMaurice Smith in a letter sent Monday that they might ask players to testify before their committee.

Google will invest an additional $50,000 into its public wireless Internet service to cover more of Council Bluffs.

Last year Boston Scientific reported a loss of $4.07 billion _ or an adjusted profit of $933 million, or 66 cents per share -- on revenue of $7.25 billion.

Jan. 29 (Bloomberg) -- U.S. stock-index futures declined, indicating the Standard & Poor’s 500 Index may fall a second day, before a report that may show consumer confidence dropped for a third month and as investors watched earnings reports.

Federal regulators say a Florida company has been marketing an untested inhaled formula as a flu remedy in violation of drug safety regulations.

“When stuff is coming to an end, people freak out and they act crazy,” says Liz Lemon.

Jan. 29 (Bloomberg) -- Delinquency rates on student loans made in the past two years stand at 15 percent in the U.S. as recent graduates struggle to find jobs, Fair Isaac Corp. said.

Jan. 29 (Bloomberg) -- Secretary of State Hillary Clinton bid the world a virtual goodbye today by video link and online as she took questions from people across the globe and deflected speculation about a possible presidential run in 2016.

Jan. 29 (Bloomberg) -- Efforts to improve New Hampshire’s fuel storage systems wouldn’t have been enough to prevent groundwater contamination by a gasoline additive, an expert witness told a jury in the state’s case against ExxonMobil Corp.

Jan. 29 (Bloomberg) -- Ford Motor Co., the second-largest U.S. automaker, said it expects to lose about $2 billion in Europe this year as a likely recession in the region continues to sap demand for cars.

Jan. 29 (Bloomberg) -- U.S. companies from Pfizer Inc. to 3M Co. are beating analysts’ quarterly sales estimates at the highest rate in 1 1/2 years, undeterred by political gridlock in Washington and slowing demand in China.

Jan. 29 (Bloomberg) -- A U.S. Justice Department request to defer regulatory action on Softbank Corp.’s $20 billion bid for Sprint Nextel Corp. is a routine part of a multi-agency national security review, a Sprint spokesman said.

Jan. 29 (Bloomberg) -- Federal Reserve Chairman Ben S. Bernanke’s latest round of bond buying will reach $1.14 trillion before he ends the program in the first quarter of 2014, according to median estimates in a Bloomberg survey of economists.

President Barack Obama is hailing bipartisan Senate efforts to overhaul the nation's patchwork immigration laws, welcoming “a genuine desire” to tackle an issue that has been stalled for years.

A federal judge on Tuesday approved an agreement for BP PLC to plead guilty to manslaughter and other charges and pay a record $4 billion in criminal penalties for the company's role in the 2010 rig explosion and oil spill in the Gulf of Mexico.

AK Steel fourth-quarter loss widened, stung by pension and tax charges and declining prices. Its adjusted results topped Wall Street's view.

Jan. 29 (Bloomberg) -- Apple Inc. has a 90 percent chance of being undervalued after a four-month drop in shares of the iPhone and iPad maker, according to Aswath Damodaran, a finance professor at New York University.

Jan. 29 (Bloomberg) -- A group of investors in the company that controls the Empire State Building sought to block a settlement which would allow the iconic New York skyscraper to be included in a real estate investment trust.

Jan. 29 (Bloomberg) -- J.C. Penney Co. soared the most in more than a year after the department-store company said it will resume holiday-related promotions in another adjustment to Chief Executive Officer Ron Johnson’s pricing strategy.

Printer maker Lexmark International Inc. said its fourth-quarter net income fell 91 percent as sales continued to shrink faster than expenses, and its shares fell.

Jan. 29 (Bloomberg) -- Abercrombie & Fitch sells sex. Harley-Davidson sells rebellion. Chipotle sells idealism.

Ford is posting record profits in North America, but it's not enough to quell unease about the company's prospects elsewhere.

Jan. 29 (Bloomberg) -- U.S. Steel Corp., the country’s largest producer by volume, forecast first-quarter earnings that were worse than analysts’ estimates as it sees higher scrap prices and operating costs.

Jan. 29 (Bloomberg) -- Yahoo! Inc. shares dropped the most since August after the largest U.S. Web portal gave first- quarter and full-year sales forecasts that fell short of some analysts’ projections.

Jan. 29 (Bloomberg) -- Berkshire Hathaway Inc. added about 17,000 employees since the end of 2011 as Chairman and Chief Executive Officer Warren Buffett expanded manufacturing, media, insurance and retail operations.

Rogers Corp. lowered its fiscal fourth-quarter earnings and revenue guidance Tuesday to reflect lower demand and a recently closed site.

The Kennedy Center for the Performing Arts is planning its first major expansion since it opened in 1971 as a “living memorial” to President John F. Kennedy, with new features including pavilions to house rehearsal halls and classrooms, a memorial garden and a floating stage on the Potomac River.

United States Steel Corp. saw its fourth-quarter loss shrink to $50 million as the tough economy continues to produce volatile results in the steel industry.

Jan. 29 (Bloomberg) -- Apple Inc. debuted an iPad with twice the memory of existing models, offering users more space to store movies, videos and books amid mounting competition in the tablet market.

From one billionaire mayor of New York City to another? Businessman John Catsimatidis is hoping so.

Jan. 29 (Bloomberg) -- Nissan Motor Co., the biggest seller of electric cars, said U.S. sales of Leaf hatchbacks will drop temporarily as the company shifts production for the region to its Tennessee plant.

Communications and information technology company Harris said Tuesday that its fiscal second-quarter net income fell 64 percent, dragged down by an impairment charge tied to the sale of its broadcast division. Its adjusted results topped analysts' estimates, however.

Jan. 29 (Bloomberg) -- A gauge of U.S. corporate credit risk was poised to increase for a second day before consumer confidence data, which may show that the measure fell for a third month.

Jan. 29 (Bloomberg) -- Sanofi, France’s biggest drugmaker, plans additional acquisitions to bolster its bio-surgery business, according to Anne Whitaker, president of North American pharmaceutical operations.

Eli Lilly and Co.'s fourth quarter earnings slipped 4 percent as generic competition continued to eat away at sales of its former best-seller, the antipsychotic Zyprexa, but the drugmaker cut expenses again and growth from other products helped it beat analyst expectations.

Jobless Americans are paying millions in unnecessary fees to collect unemployment benefits because of state policies encouraging them to get the money through bank-issued payment cards, according to a new report from a consumer group.

Nucor Corp. on Tuesday reported flat fourth-quarter net income, as the effects of lower costs and an accounting-related gain were offset by a drop in sales.

U.S. consumer confidence plunged in January to its lowest level in more than a year, reflecting higher Social Security taxes that left Americans with less take-home pay.

An unexpectedly-weak U.S. consumer confidence survey Tuesday failed to dent the positive tone in markets in the run-up to a series of key U.S. economic indicators.

Denver-based Quiznos is expanding into Mexico.

Apple says it will sell an iPad with more memory than the current models available.

Jan. 29 (Bloomberg) -- Underwater homeowners may get additional federal assistance for refinancing government-backed loans under a proposal being revived in the U.S. Senate.

The force isn't with the 3-D versions of the “Star Wars” prequels.

Cyprus' finance minister says Russia is likely to contribute money to a rescue package that the cash-strapped country is trying to finalize with eurozone partners.

A conference on how to make the Broadway experience better for theatergoers has come up with some prescriptions: Be brave in the stories that are told onstage and embrace youth and technology.

Jan. 28 (Bloomberg) -- A decision by Apple Inc. to refrain from returning more cash to shareholders would leave its board vulnerable to investor lawsuits, according to Lawrence Haverty, a portfolio manager at Gamco Investors Inc.

North Korea appears all set to detonate an atomic device, but confirming the explosion when it takes place will be virtually impossible for outsiders, specialists said Tuesday.

Egypt's army chief warned Tuesday that the state could collapse if the latest political crisis roiling the nation drags on but also defended the right of people to protest.

Japan's prime minister says he is willing to meet with Chinese leader Xi Jinping to help mend ties hurt by an island dispute.

Rome's 18th-century Trevi Fountain, famed as a setting for the film “La Dolce Vita,” is getting a (euro) 2.18 million ($2.9 million) restoration courtesy of the Fendi fashion house.

Jan. 29 (Bloomberg) -- U.S. residential vacancy rates declined in the fourth quarter as housing demand rebounded after the five-year real estate slump, the Census Bureau reported.

A government study has fingered leafy green vegetables as the leading source of food poisoning illnesses.

African and Western nations on Tuesday pledged more than $450 million to fund an African-led military force to fight Islamist extremists in Mali.

A genetic variant commonly found in Chinese people may help explain why some got seriously ill with swine flu, a discovery scientists say could help pinpoint why flu viruses hit some populations particularly hard and change how they are treated.

A Guantanamo Bay prisoner charged in the Sept. 11 attacks fired one of his military attorneys Monday in an apparent sign of frustration and distrust of his Pentagon-appointed legal counsel.

Major League Baseball said it is “extremely disappointed” about new allegations of performance-enhancing drug use against Alex Rodriguez and other players contained in a newspaper report.

Tue, Jan 29, 2013