This is a revised number with new methodology, but ADP's job loss number predictions for December are off the chart. ADP had previously been under expectations where Wall Street economists were 500,000 non-farm payroll losses. This new revised target from ADP is now showing that ADP expects to see a contraction in total jobs by a whopping 693,000 in December.The breakdown is as follows: Small ...
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Filed under: Earnings reports, Analyst reports, Analyst upgrades and downgrades, Deals, Apple Inc (AAPL), Alcoa Inc (AA), Bank of America (BAC), Bed Bath and Beyond (BBBY), Dow Chemical (DOW), Analyst initiationsAlcoa, Inc. (NYSE: AA), the aluminum maker giant and a Dow component, said late Tuesday it will cut 13,500 jobs, or 13% of its global workforce, as well as reduce aluminum production by...
(Reuters) - Monsanto Co increased its full-year ongoing earnings-per-share guidance after reporting 117 percent earnings growth in first quarter of fiscal 2009.
Among the companies whose shares are expected to see active trade in Wednesday's session are Alcoa, AMD, Cabot Micro, Ethan Allen, Family Dollar, Microchip Technology and Satyam.
There were not as many analyst upgrades today, but here are this Wednesday's early bird upgrades: AK Steel (NYSE: AKS) Raised to Buy at Goldman Sachs. Aeropostale (NYSE: ARO) Started as Buy at KeyBanc (late yesterday). Northern Trust (NASDAQ: NTRS) Raised to Buy at Goldman Sachs. OceanFreight (NASDAQ: OCNF) Raised to Perform at Oppenheimer. Urban Outfitters (NASDAQ: URBN) Started as Buy at Key...
NEW DELHI (AP) -- The chairman of India's Satyam Computer Services Ltd. quit Wednesday after admitting the company's profits had been doctored for several years, shaking faith in the country's corporate giants as shares of the software services provider plunged nearly 80 percent....
We reported yesterday that Israeli-data and IT security firm Aladdin Knowledge Systems Ltd. (NASDAQ: ALDN) was up sharply higher on reports that its old merger offer "may" be developing again. The company has issued a response, and it seems that there are still more questions and opportunity for skepticism than there are any solid answers. The company just noted: In response to a January 6th a...
Fake profits shake Satyam. Satyam (SAY) shares are down over 70% in Indian trading after B. Ramalinga Raju, the company's founder and chairman, resigned and admitted over $1B of Satyam's balance sheet as of Sept. 30 was inflated non-existing cash and bank balances. In a letter to the board, Raju wrote that the inflated profits had accrued over the last several years and that he was making the ...
If you are one of those who cannot stand Indian IT-outsourcing firms, you probably just got another feather in your cap. India's Satyam Computer Services Ltd. (NYSE: SAY) is turning out to be a house of cards. Shares closed at $9.35 yesterday after many recent troubles, and that was already down two-thirds from their highs. Things are worse this morning. Much, much worse.The company's Chairman...
Asian shares ended mixed. Electronics led Tokyo up 1.7%, but India's Sensex tumbled 7.3% on falling investor confidence after Satyam's chairman resigned.