U.S. department store chain J.C. Penney Co Inc (JCP) slashed its 2017 comparable sales and profit forecast on Friday as it overhauled its women’s apparel department and sold off stagnant inventory by discounting heavily. Continue Reading Below The company’s shares plunged 16 percent in premarket trading to $3.08, with the […]
FOX Business News
Merck reports 3Q loss
KENILWORTH, N.J. – Merck & Co. is reporting a third-quarter loss of $56 million after a profit in the same period a year earlier, but it still beat Wall Street expectations. Continue Reading Below The Kenilworth, New Jersey, on Friday posted a loss of 2 cents per share. Earnings, adjusted […]
Merck tops profit estimates on Keytruda sales
Merck & Co on Friday reported a quarterly profit that beat analysts’ estimates, benefiting from sales of its immuno-oncology drug Keytruda. Continue Reading Below Sales of Keytruda, which were helped by approval across various indications this year, were $1.05 billion for the third quarter, in line with Leerink consensus estimates. […]
The Latest: Spain’s Senate begins session on Catalan crisis
BARCELONA, Spain – The Latest on the Spain-Catalonia political crisis (all times local): Continue Reading Below 10:25 a.m. Spain’s prime minister says the government’s first move will be to dismiss Catalonia’s president if special powers are granted by the country’s Senate. Mariano Rajoy was addressing the chamber ahead of a […]
Volkswagen raises profit forecast despite diesel charges
FRANKFURT, Germany – Automaker Volkswagen saw profit drop by half in the third quarter due to expenses for fixing and buying back diesel cars in the United States. Continue Reading Below The Wolfsburg-based automaker said Friday that it was otherwise a “strong third quarter” and raised its earnings outlook for […]
Italian gas company Eni returns to profit in third quarter
MILAN – Italian oil and gas company Eni returned to a profit in the third quarter as crude oil prices nudge upward after OPEC production cuts. Continue Reading Below Eni, which is about one-third government-owned, posted earnings of 344 million euros ($400 million), compared with a loss of 562 million […]
Clashes mar Macron’s visit to French Guiana
CAYENNE, French Guiana – Clashes between protesters and police forces have marred the first day of French President Emmanuel Macron’s visit to French Guiana. Continue Reading Below Macron’s visit started in a tense climate, six month after a general strike over crime and economic hardship paralyzed the impoverished South American […]
New questions and searches greet travelers flying to the US
CHICAGO – Some were asked their hobbies and packing habits. Others were queried about what they do for a living. There were lines for security interviews and searches of carry-on bags. Continue Reading Below The first passengers to travel under new screening measures for U.S.-bound flights were greeted at airports […]
CEOs suggest Trump tax cut may lift investors more than jobs
U.S. President Donald Trump is selling tax reform to Americans on the promise it will create extra income for companies to invest in their businesses and create jobs. Some of the biggest companies have very different plans. Continue Reading Below U.S. corporations are saying they would use a tax reform […]
Subaru investigates its own inspections after Nissan scandal
TOKYO – Japanese automaker Subaru said Friday it is investigating whether it carried out illegal inspections on its own vehicles and if any recalls might be needed. Continue Reading Below Subaru Corp. spokeswoman Miyuki Yasuda said the company was checking and a report to the government would be coming as […]