Business News
CANADA STOCKS-TSX helped higher by reviving financials
* S&P/TSX composite up 0.1 percent at 11,354.51 * Financials recoup some of last week’s losses * Gold shares drop (Adds details, quotes) By Ka Yan Ng TORONTO, Jan 25 (Reuters) – Toronto’s main stock index ended little changed on Monday as beaten-down financial and energy shares found investor interest, but falling golds limited the gains. Four of the country’s five biggest banks rose on Monday, picked up by bargain-hunters after falling much of last week, even as some uncertainty over U.S
UPDATE 1-FNB Corp Q4 profit misses Street view
* Q4 EPS $0.04 vs est $0.11 * Provision for bad loans rose 57 pct sequentially Jan 25 (Reuters) – Bank holding company F.N.B. Corp (FNB.N: Quote , Profile , Research ) reported a fourth-quarter profit that missed analysts’ estimates, hurt by a sequential rise in provision for loan losses and a charge related to its pooled trust preferred securities. The company said net income was $4.6 million, or 4 cents a share, compared with a net loss of $18.9 million, or 21 cents a share, last year.
UPDATE 2-VMware results smash estimates, shares soar
* Q4 EPS ex-items 31 cents vs Street view 26 cents * Sales jump as pent-up software demand starts to show up * Q1 rev forecast $580 mln-600 mln vs Street view $530 mln * 2010 rev view $2.45 bln-2.55 bln vs Street View $2.28 bln * Shares soar 18.6 percent in extended trading (Adds forecasts, comments from analysts, byline) By Jim Finkle BOSTON, Jan 25 (Reuters) – Software maker VMware Inc (VMW.N: Quote , Profile , Research ) posted quarterly results and forecasts above Wall Street expectations on Monday, sending shares up 18.6 percent on hopes that a slowdown in technology spending is ending.
Instant view: Apple profit increases, margins improve
NEW YORK (Reuters) – Apple Inc reported strong increases in quarterly profit and revenue, helped by a significant rise in its gross margin. COMMENTARY: DANIEL ERNST, ANALYST, HUDSON SQUARE RESEARCH “It was a very good quarter, as expected
UPDATE 1-Zoran quarterly revenue misses Street; shares fall
* Q4 non-GAAP EPS $0.01 beats estimates * Q4 rev misses estimates * Q1 outlook beats estimates * Shares fall 7 percent Jan 25 (Reuters) – Chipmaker Zoran Corp (ZRAN.O: Quote , Profile , Research ) reported a quarterly loss that beat estimates but posted lower-than-expected revenue. Zoran shares fell 7 percent to $11.00 in trading after the bell. They closed at $11.76 Monday on Nasdaq.
Wall Street up as Bernanke support firms; Apple reports
By Chuck Mikolajczak NEW YORK (Reuters) – Stocks snapped a three-day slide on Monday as signs that Federal Reserve Chairman Ben Bernanke would win a U.S. Senate vote for a second term helped ease investors’ concerns.
US STOCKS-Wall St up as Bernanke support firms; Apple reports
* Bernanke appears safe for approval again as Fed chief * Homebuilders fall as December existing home sales slide * Dow up 0.2 pct; S&P 500 up 0.5 pct; Nasdaq up 0.3 pct * For up-to-the-minute market news, click [STXNEWS/US] (Adds Apple, Texas Instruments results in paragraphs 2-4) By Chuck Mikolajczak NEW YORK, Jan 25 (Reuters) – U.S. stocks snapped a three-day slide on Monday as signs that Federal Reserve Chairman Ben Bernanke would win a U.S
U.S. home sales tumble
By Corbett Daly WASHINGTON (Reuters) – Sales of previously owned U.S. homes suffered a record drop last month as the boost from a popular tax credit waned, raising doubts the housing market recovery can be sustained without government support.
Exclusive: Fidelity loses pair of 401(k) clients
By Ross Kerber BOSTON (Reuters) – Fidelity Investments has recently lost large contracts to run 401(k) retirement-savings plans for Ford Motor Co and Apple Inc, a sign of rising competition in the normally quiet sector. A Ford spokeswoman confirmed the automaker shifted the operations of at least two of its retirement plans to Affiliated Computer Services Inc, a Texas company being bought by Xerox Corp.
UPDATE 2-Venezuela vice president, defense min resigns
* Chavez named Carrizalez as vice president in 2008 * Environment minister also quits for personal reasons (Recasts, adds details, background) CARACAS, Jan 25 (Reuters) – Venezuela’s Vice President Ramon Carrizalez, who was also defense minister, resigned on Monday citing personal reasons, adding to the political problems facing leftist President Hugo Chavez. Chavez is facing growing discontent over shortages of electricity and water and sharply devalued the currency this month.
