Hyundai rides recession-conscious consumers to record earnings
Filed under: Technology, Economy, Investing, Earnings, One Year Later
On Thursday, South Korea’s Hyundai Motor Company posted Q3 profits of $826.2 million, more than three times its 2008 profits in the same quarter and an all-time quarterly high for the automaker. Given that the previous record of $680 million was set in Q2 of this year, it is clear that Hyundai, the world’s fifth-largest automaker, is riding a wave of massively increasing profits.
A large part of this leap lies in a 34 percent jump in sales, attributable to many factors, including the cash-for-clunkers program and deep discounts from Hyundai. In the third quarter, the automaker claims to have taken 5.5 percent of global market share, up from 4.4 percent the previous year.
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Hyundai rides recession-conscious consumers to record earnings originally appeared on DailyFinance on Thu, 22 Oct 2009 13:00:00 EST. Please see our terms for use of feeds.
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Hyundai rides recession-conscious consumers to record earnings
Tags: 826-2-million, automakers, autos, for-technology, investing, new york times, newspapers, outlook, percent-jump, previous-record, south korea
AT&T: Good for investors, not so good for customers
Filed under: Company News, Technology, Earnings, Apple, AT&T, Verizon
AT&T (T) customers complain about dropped calls, glacial web-surfing speeds and shoddy coverage. Wall Street, on the other hand, loves the way the phone giant runs its network.
For an explanation of that disconnect, let’s take a look at AT&T’s third-quarter earnings, announced earlier today. The telecom’s results topped Wall Street profit forecasts and delivered revenues in line with estimates. Shares gained about 2% in midday trading to around $26.40.
Continue reading AT&T: Good for investors, not so good for customers
AT&T: Good for investors, not so good for customers originally appeared on DailyFinance on Thu, 22 Oct 2009 12:40:00 EST. Please see our terms for use of feeds.
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AT&T: Good for investors, not so good for customers
Tags: 826-2-million, and-delivered, att, automakers, earnings, earnings reports, gained-about, good-for, midday-trading, outlook, phone-giant, previous-record, results-topped, telecom stocks
With income inequality at record levels, Bush’s legacy lives on
Sep 29, 2009 Object
Filed under: Economy
Income inequality pierced its previous record high in 2008 — a fitting legacy for President George W. Bush. Fresh census figures reveal that the ratio of the incomes of the top 10 percent of Americans — over $138,000 a year — to those at the poverty level — $12,000 — was 11.4 times. (The previous record was 11.22 in 2003.) Bush’s $1.3 trillion worth of tax cuts — 32.6 percent of which went to the top 1 percent of earners — have hit their mark.
The political miracle is that Bush was able to get nearly half the vote with policies that helped his base — the top 1 percent. By 2007, the U.S. savings rate, at -0.7 percent, had reached its lowest level since 1929, right before the Great Depression. And with the price of oil rising to its July 2008 peak of $147 a barrel, Bush won the battle to help his buddies in Houston and Saudi Arabia. One measure of that help: Between January 2001 and August 2006, the W-Industrial Complex Index (WIC) — a group of energy and defense stocks — rose 184 percent, while the S&P 500 fell 4 percent.
Continue reading With income inequality at record levels, Bush’s legacy lives on
With income inequality at record levels, Bush’s legacy lives on originally appeared on DailyFinance on Tue, 29 Sep 2009 09:20:00 EST. Please see our terms for use of feeds.
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With income inequality at record levels, Bush’s legacy lives on
Tags: a-friend-via, bush, clean tech, entry, focusing-on-the, houston, poverty, previous-record, record-levels, redistribution, tax cut, taxcuts, wealthy
Hacker who aided Feds charged in theft of 130 million credit card numbers
Aug 18, 2009 Object
Filed under: Technology, People
Albert Gonzalez, a 28-year-old computer hacker, was indicted yesterday for stealing 130 million credit card numbers, topping his previous record of allegedly stealing 40 million credit card numbers in a series of Wi-Fi based intrusions of U.S. retailers, including TJ Maxx, Office Max and DSW. Gonzalez, known on the internet as “soupnazi,” worked as an informant for the Secret Service in 2003 to help expose credit identity thieves.
The Justice Department’s latest charges involving 130 million credit card numbers stolen between 2006 and 2008 will have to wait until two other cases against Gonzalez are heard. Gonzalez has been in custody since May 2008, when he was arrested for stealing credit card data at Dave & Buster’s. He was also indicted in another identify theft case, including data breaches at T.J. Maxx. He is awaiting trial in New York on the Dave & Buster’s case, then will face trial in Massachusetts on the T.J. Maxx breach, before he will face trial in New Jersey on the latest breach.
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Hacker who aided Feds charged in theft of 130 million credit card numbers originally appeared on DailyFinance on Tue, 18 Aug 2009 13:00:00 EST. Please see our terms for use of feeds.
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Hacker who aided Feds charged in theft of 130 million credit card numbers
Tags: credit cards, entry, heartland, identity theft, identitytheft, in focus, including-data, jersey-on-the, previous-record, secret, secret-service, verizonwireless, wireless
Home Depot earnings fall — but not too far — for second quarter
Filed under: Company News, Earnings
Home Depot Inc. (HD) beat Wall Street expectations and raised its forecast for the rest of the year, even as the weak economy and housing market took a bite out of its second-quarter results.
The nation’s largest hardware chain posted net income of $1.1 billion, or 66 cents per share — down seven percent from the same time last year, beating expectations of only 59 cents per share in earnings. CEO Frank Blake credited cost-cutting and gains in market share with helping Home Depot pull off what passes for a successful quarter these days.
Continue reading Home Depot earnings fall — but not too far — for second quarter
Home Depot earnings fall — but not too far — for second quarter originally appeared on DailyFinance on Tue, 18 Aug 2009 12:40:00 EST. Please see our terms for use of feeds.
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Home Depot earnings fall — but not too far — for second quarter
Tags: a-bite-out, credit cards, earnings, entry, even-as-the, frank-blake, home depot, identitytheft, in focus, news, previous-record, secret-service, street
Stocks in the news: Goldman Sachs, Johnson & Johnson, CIT Group
The following post rounds up the companies making headlines today:
Goldman Sachs (GS) posted a second-quarter earnings of $3.44 billion, or $4.93 a share. That’s compared to the $3.65 a share forecast by analysts. As Tim Catts reports “not only did it eclipse the $2.05 billion profit it reported in the same period a year ago, but it surpassed its previous record of $3.22 billion logged two years ago.” The trading desk and stock underwriting propelled revenue.
Johnson & Johnson (JNJ) meanwhile reported lower profit of $3.2 billion, or $1.15 per share compared to the same period a year ago, but also managed to top estimates of $1.11 per share. Revenue also beat analyst projections.
Continue reading Stocks in the news: Goldman Sachs, Johnson & Johnson, CIT Group
Stocks in the news: Goldman Sachs, Johnson & Johnson, CIT Group originally appeared on DailyFinance on Tue, 14 Jul 2009 09:30:00 EST. Please see our terms for use of feeds.
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Stocks in the news: Goldman Sachs, Johnson & Johnson, CIT Group
Tags: 12-8-trillion, 3-22-billion, companies, energy-prices, entry, following-post, geithner, in focus, news, ocean, previous-record, share-compared, surpassed-its, the-companies
At Johnson & Johnson, profit falls but beats expectations
Filed under: Company News, Earnings
Johnson & Johnson (JNJ), the world’s biggest health care company, today announced net earnings for the second quarter of 2009 declined 4.7 percent to $3.2 billion, or $1.15 per share, beating analyst estimates of $1.11 earnings per share in the second quarter. It reported earnings of $1.18 per share in the same quarter last year.
The health care giant also reported sales of $15.2 billion for the second quarter of 2009, a decrease of 7.4 percent as compared to the second quarter of 2008 mostly due to exchange rate impact. The street, on average, expected $15 billion in revenue.
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At Johnson & Johnson, profit falls but beats expectations originally appeared on DailyFinance on Tue, 14 Jul 2009 09:00:00 EST. Please see our terms for use of feeds.
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At Johnson & Johnson, profit falls but beats expectations
Tags: 1-11-earnings, 12-8-trillion, biggest-health, exchange-rate, jnj, johnsonandjohnson, news, previous-record, profit-falls, second, the-companies, the-second
