Home Depot reaps benefits from U.S. housing rebound
(Reuters) – A recovery in the U.S. housing market helped boost Home Depot Inc’s quarterly profit and sales above analysts’ estimates, prompting the world’s largest home improvement chain to raise its outlook for the fiscal year.
Tight cost controls boost Best Buy’s profit
(Reuters) – Best Buy Co Inc reported its first quarterly profit in a year after keeping a tight lid on costs, further confirming that Chief Executive Officer Hubert Joly’s turnaround plan for the world’s largest consumer electronics chain is working.
U.S. regulators warn marijuana scams growing like weeds
NEW YORK (Reuters) – Investors in marijuana-related stocks may see their profits go up in smoke, U.S. regulators said on Tuesday.
U.S. judge OKs Citigroup $730 million bondholder settlement
NEW YORK (Reuters) – A federal judge has approved a settlement in which Citigroup Inc agreed to pay bondholders $730 million to resolve claims that the bank concealed its exposure to billions of dollars of toxic mortgage assets prior to the financial c…
Cautious consumers, wet weather cloud Dick’s Sporting outlook
(Reuters) – Outdoor enthusiasts spending less on camping and golfing gear due to a sluggish economy and a wetter season hit Dick’s Sporting Goods Inc’s results, leading the company to slash its earnings forecast for the year.
Nasdaq, CBOE says to review batch of options trades
NEW YORK (Reuters) – Nasdaq OMX Group Inc said on Tuesday that Nasdaq Options and Nasdaq OMX BX Options will review all trades between 9:30 a.m. EDT and 9:47 a.m. EDT.
Penney sales tumble but back-to-school ‘encouraging’ so far
(Reuters) – J.C. Penney Co Inc said on Tuesday quarterly sales tumbled again last quarter, even as reinstated CEO Myron Ullman worked to roll back his predecessor’s failed merchandising strategies, but there were signs that customers were returning for…
Ally to raise capital, buy back stock from U.S.
(Reuters) – Ally Financial Inc has sold $1 billion of stock in a private placement and will repay the U.S. government nearly $6 billion as the auto lender works to boost its capital levels and exit government ownership.
BAE Systems’ U.S. CEO to retire in 2014
WASHINGTON (Reuters) – Linda Hudson, chief executive officer of the U.S. unit of Britain’s BAE Systems Plc , will retire early next year, the weapons maker said on Tuesday.
Glencore seeks fresh start with $7.7 billion hit to Xstrata
LONDON (Reuters) – Glencore Xstrata took a $7.7 billion hit on mining assets acquired in its takeover of Xstrata, drastically reducing the value of projects in the early stages of development.
