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Host Hotels & Resorts 3Q FFO improves, rates climb
BETHESDA — Room rates continued to climb during Host Hotels & Resorts’ third quarter and occupancy improved as the lodging real estate investment trust’s funds from operations climbed 12 percent. Funds from operations rose to $127 million, or 17 cents per share, for the period ended Sept. 7. That’s up from $113 million, or 16 […]
Tempur-Pedic buying Sealy for about $228.6M
NEW YORK — Mattress rivals Tempur-Pedic and Sealy are becoming bedfellows. Tempur-Pedic, the 20-year-old leader in foam mattresses, is buying more-than-a century-old rival Sealy for about $228.6 million in cash. The acquisition comes as competition has increased in the mattress industry, with makers stepping up their marketing and promotions to help lure cost-conscious consumers into […]
McCormick reports strong third quarter
Sparks-based spice and seasoning producer McCormick & Co. Inc. reported a strong third quarter, propelled by acquisitions and pricing initiatives. The company reported net income of $104.4 million, or 78 cents per diluted share, for its fiscal third quarter ended Aug. 31, compared to $92 million, or 69 cents per diluted share, for the same […]
Facebook co-founder Moskovitz sells 450,000 shares
NEW YORK — Facebook co-founder Dustin Moskovitz is shedding another 450,000 company shares for a take of about $8.7 million. Moskovitz has been selling 150,000 shares a day and disclosing the sales every three days. Including the most recent sale, he still holds more than 130 million shares. The latest filing, made late Wednesday, covered […]
M&T broadens reach with $3.7B deal for Hudson City
M&T Bank Corp. said Monday it will buy Hudson City Bancorp Inc. in a cash-and-stock deal valued at about $3.7 billion that will broaden its reach in the eastern U.S. The buyout includes Hudson City’s 135 branch offices located in New York, New Jersey and Connecticut. The combined company will include 870 branches located in […]
Best Buy 2Q profit drops 90 pct, misses estimates
NEW YORK — The news just keeps getting worse at Best Buy each day. To top off an already eventful several days for the nation’s largest consumer electronics retailer, Best Buy Co. withdrew its full-year earnings guidance Tuesday after reporting a 90-percent drop in net income during the second quarter, dragged down by restructuring charges […]
Facebook insiders can sell stock as ‘lock-up’ ends
MENLO PARK, Calif. — Facebook’s early investors and a handful of top executives become eligible on Thursday to sell stock they own in the social networking company. It marks the beginning of a time-honored process for public companies, one that will give many Facebook employees the same right to sell their shares this fall. It’s […]
Supernus 2Q loss widens as it preps drug launch
ROCKVILLE — Supernus Pharmaceuticals Inc.’s second-quarter loss grew as revenue fell and operating expenses rose while the specialty drugmaker prepared to launch the epilepsy treatment Trokendi XR. The Rockville company raised $47.6 million with an initial public offering of stock in May, and it then received a tentative approval in June from the Food and […]
Sinclair beats 2Q profit expectations; shares jump
TV station operator Sinclair Broadcast Group Inc. on Wednesday reported a second-quarter net income increase of 62 percent, due to political ad spending that was three times higher than the company expected. The Hunt Valley-based company’s shares jumped nearly 13 percent. Sinclair raised its quarterly dividend by 25 percent to 15 cents per share. Shares […]
Apple shares retreat after rare earnings miss
NEW YORK — Apple’s stock fell Wednesday after the company did something un-Apple-like: posting results below Wall Street expectations. Late Tuesday, Apple Inc. reported that in the latest quarter, earnings rose a mere 21 percent from the year before, not the 33 percent that analysts were expecting. Apple is the world’s most valuable company, and […]
Apple sags in 3Q as iPhone gets cheaper
NEW YORK — Apple products have been getting cheaper. That’s good news for consumers but not for investors, who thought the company would keep boosting profits and revenues at its previous breakneck pace. On Tuesday Apple Inc. revealed that its growth slowed in the most recent quarter. In both revenue and net income, the company […]
Manchester United files for IPO in U.S.
NEW YORK — Manchester United plans to go public. In the United States, to boot. The record 19-time English champions filed a registration statement with the Securities and Exchange Commission on Tuesday to hold an initial public offering of stock and become a listed company on the New York Stock Exchange. The deal could ease […]
