July 31 (Reuters) – L-3 Communications Holdings Inc
said it fired four employees as part of an ongoing internal
review that revealed overstatement of net sales and deferred
cost overruns in the company’s aerospace business.
The company’s shares fell as much as 14 percent to $103.01
on Thursday, their biggest intraday percentage drop ever.
July 30 (Reuters) – Rockwell Automation Inc, whose
automated systems help factories run smoothly, said a decrease
in spending by miners globally led to lower quarterly sales
outside the United States and in its largest business.
Rockwell’s shares fell as much as 7 percent after the
company also cut the top end of its full-year earnings forecast
and reported lower-than-expected third-quarter profit.
July 23 (Reuters) – U.S. weapons makers General Dynamics
Corp and Northrop Grumman Corp raised their 2014
profit forecasts as cost cutting allowed them to improve
profitability even as defense spending by the U.S. government
The companies, which reported better-than-expected
second-quarter profits on Wednesday, have kept a tight lid on
operational costs to overcome the effect of U.S. budget cuts.
June 24 (Reuters) – Howie Barokas had just ridden his
Harley-Davidson Ultra Limited on Highway 50 across the searing
Nevada desert when he heard about the company’s new electric
He wasn’t impressed.
Then again, Harley-Davidson Inc was looking beyond
loyal baby boomers like 49-year-old Barokas when it unveiled its
first electric prototype bike last Thursday.
June 19 (Reuters) – For-profit education provider Corinthian
Colleges Inc said Its ability to continue as a going
concern was in jeopardy after the U.S. Department of Education
extended the waiting period to draw down federal student aid
Corinthian shares fell as much as 67 percent to a life-low
of 28 cents.
The college operator now has to wait for 21 days before
accessing funds related to the Title IV federal student loan
program, up from 24-72 hours earlier, the company said in a
regulatory filing. (1.usa.gov/1qvpC6z)
June 13 (Reuters) – Travel website owner Priceline Group Inc
will buy restaurant reservation website operator
OpenTable Inc for $2.6 billion, aiming to broaden its
services outside the increasingly competitive online travel
Priceline’s offer of $103 per share for the owner of
OpenTable.com represents a premium of 46 percent to OpenTable’s
BANGALORE (Reuters) – AirAsia Bhd’s Indian joint venture launched its debut flight on Thursday, promising the budget airline would buck the trend of accelerating losses that is hurting rivals and break-even around October.
High costs, low fares and a highly competitive market have left all but one of India’s big airlines losing cash. Jet Airways Ltd and SpiceJet Ltd last month reported record losses as a price war intensified.