Cisco Systems Inc. To Slash 1,300 Jobs
Cisco Systems, Inc. (Nasdaq: CSCO), the biggest maker of computer-networking equipment, plans to cut about 1,300 jobs, or 2 percent of its workforce, as part of its ongoing efforts to restructure the company.
PepsiCo Inc. (PEP) Earnings Preview: 2Q Profit Hurt By Higher Commodity Costs, Restructuring Efforts
PepsiCo, Inc. (NYSE:PEP), the maker of Lay's potato chips, Quaker oatmeal and its namesake Pepsi-Cola, is projected to report lower second-quarter profit as the food and beverage giant struggles to offset rising ingredient costs and marketing expenses with price increases.
Caterpillar Inc. (CAT) Earnings Preview: Decent Q2, Cautiously Optimistic Outlook
Caterpillar Inc. (NYSE: CAT), the world's largest maker of construction and mining equipment, is expected to report strong second-quarter profit as resurgent sales of construction machinery in the U.S. and ongoing global demand for mining equipment offset weakening sales in Europe, China and Brazil. The impact of acquisitions will also play a part.
US Q2 GDP, Durable Goods, Pending Home Sales: Economic Events For July 23-27
In a fairly light week of data, Friday's first take on the U.S. second-quarter gross domestic product will be the main event. Economists expect a feeble reading of 1.4 percent. This will be the final major data point to influence participants at the July 31 - Aug.1 meeting of the policy-setting Federal Open Market Committee.
McDonald's Corporation 2Q Earnings Fell 4.5%, Trail Estimates
McDonald's Corporation (NYSE: MCD), the world's largest restaurant chain, reported a 4.5 percent drop in second-quarter profit hurt by a stronger dollar and weaker global demand.
Facebook, Apple, Starbucks, Caterpillar: Notable Earnings Reports To Watch, June 23-27
Next week's barrage of earnings releases offers further guidance on the health of U.S. companies.
Apple, Facebook, Caterpillar: 60 Earnings Reports To Watch Next Week, June 23 – June 27
Next week's barrage of earnings releases offers further guidance on the health of U.S. companies.
Bank Of America, Morgan Stanley, Citigroup: Global Banking Giants To Begin Another Round Of Layoffs
The golden age of being a banker is so far in the past. After a brutal year of massive layoffs in the global financial industry last year, the axe is starting to fall again.
US Initial Jobless Claims Jump 34,000 To 386,000
The number of Americans lining up for new jobless benefits rebounded last week after a seasonal auto-plant retooling period caused a steep drop the prior week.
Fed Beige Book Sees More Reports Of Slower Growth
The Federal Reserve said Wednesday that the U.S. economic activity increased at a modest to moderate pace in June and early July as more districts are reporting slowing growth.
Homeownership: (Millennials) Downsizing The American Dream
The recession and housing crash have triggered a sharp decline in the share of American households who own their own home. Homeownership, which is at its lowest point in 15 years, is bound to fall even further, driven by tight credit, lackluster economic growth and more foreclosures.
US Stocks Surrender Early Gains As Bernanke Offers Gloomy Economic Outlook Without Clear Promise Of QE3
U.S. stocks gave back early gains and turned negative after Federal Reserve Chairman Ben Bernanke set out a downbeat view of the economy to Congress without promising imminent easing measures.
US Industrial Production Up 0.4% In June
Industrial Production in the U.S. increased a seasonally adjusted 0.4 percent in June after a 0.2 percent dip in May, the Federal Reserve said Tuesday, led by gains among automobile and machinery makers that suggests some resilience in the manufacturing sector.
Johnson & Johnson 2Q Net Income Slips By Half, Cuts 2012 Guidance
Johnson & Johnson (NYSE: JNJ), the world's second-biggest health care company, said Tuesday that its second-quarter net income fell by half due to lower sales, litigation charges and unfavorable currency conditions. Johnson & Johnson also lowered its 2012 profit forecast.
US Consumer Price Index Flat In June As Gas Prices Fall
Consumer prices in the U.S. were flat in June as the higher cost of food offset another drop in energy, according to government statistics released Tuesday, further confirming the Federal Reserve's view that the jump in fuel costs was only temporary.
US Wins WTO Case Over China Bank Card Monopoly
A World Trade Organization panel ruled Monday that China had discriminated against U.S. bank card suppliers in favor of a state-owned enterprise, a decision U.S. card issuers hope could level the playing field and open up new opportunities to China's $1 trillion electronic payments market.
Bernanke On The Hill, Inflation, Housing Data: Economic Events For July 16-20
Bernanke delivers his semi-annual Humphrey-Hawkins testimony to Congress.
Johnson & Johnson 2Q Earnings Preview: Promising New Drugs Lift Profits
Johnson & Johnson (NYSE: JNJ), the world's second-biggest health care company, is expected to report higher second-quarter profit as strong performance of new drugs help mitigate drags from generic competition and strings of recalls.
Coca-Cola's Q2 Earnings Preview: Profits Rise On Thirsty Emerging Markets
The Coca-Cola Company (NYSE: KO) is expected to report stronger second-quarter profit as the world's largest soft-drink maker tries to offset higher commodity prices and currency headwinds by expanding aggressively into key international markets.
US Retail Sales Fall For 3rd Straight Month In June
U.S. retail sales unexpectedly declined for a third straight month in June, the latest sign that weak job growth and stagnant wages have taken a toll on the biggest part of the economy.
BofA, Intel, Microsoft: 55 Earnings Reports To Watch, July 16-20
Second-quarter earnings season heads into full swing next week. The results will provide guidance on how much the global slowdown is affecting U.S. companies.
US PPI Rise For First Time In 4 Months
U.S. wholesale prices unexpectedly rose in June for the first time in four months, as higher food costs offset another big drop in energy prices.
China 2Q GDP Preview: Worst Growth Since 2008 Crisis To Hit US Corporate Profits
What bad news does China have in store?
US Initial Jobless Claims Fall to 350,000, A 4-Year Low
The number of Americans lining up for new jobless benefits last week had its biggest decline in four years, the Labor Department said Thursday, but one-time factors such as fewer auto-sector layoffs than normal plus the July 4 holiday likely caused the sharp decline.
Fed FOMC Minutes Squash Hopes For Imminent QE3, Stocks Turn Down
Newly released minutes of the U.S. Central bank's June 19-20 Federal Open Market Committee meeting were being taken by the stock market as indicating unwillingness to engage in further monetary easing.
US Wholesale Inventories Rise In May, Sales Fall By The Most In 3 Years
U.S. wholesalers increased their stockpiles at a slower pace in May as sales fell by the most in three years.
US Trade Deficit Narrows In May On Cheaper Oil
The trade deficit in the U.S. narrowed slightly in May as exports to Europe and China rose, while import bill fell on cheaper crude oil prices.
June FOMC Minutes To Drop Big Hints On QE3 (And Why It May Not Be Cure For Economy?s Woes)
It's going to be very, very dovish.
OECD Sees No End To Job Crisis, Warns Of 'Lost Generation'
Unemployment in advanced economies will remain high until at least the end of 2013, with youth and the low-skilled hurt most by the weakest economic recovery in the past four decades, the Organization for Economic Co-operation and Development (OECD) said Tuesday.
Don?t Give Up On The China Dream (Just Yet) - Nation Passes Japan On Fortune 500
China's double-digit growth rate during the financial crisis has been the envy of the world and most people agree that we may have seen the last of the country's miraculous growth. So yes, China's growth is slowing. However, it's too early to get all pessimistic.
