Coca-Cola launched the soda brand in the 1990s to compete with Mountain Dew. Sales didn't exactly take off.
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The bank reports better-than-expected earnings, and the pharmaceutical agrees to be acquired by TPG.
By Michael Baron, TheStreet.com
Citigroup reported second-quarter earnings of $2.95 billion, or 95 cents a share, on revenue of $18.64 billion. The average estimate of analysts polled by Thomson Reuters is for a profit of 89 cents a share on revenue of $18.76 billion. Excluding one-time items, the bank earned $3.08 billion, or $1 per share, in the latest quarter.
"Our core businesses performed well in a difficult environment and are generating solid returns," said Vikram Pandit, Citigroup's CEO, in a press release. "We had strong growth in both loans and deposits, showed resilience in our markets-facing businesses, and saw record revenues in Transaction Services. We reduced Citi Holdings to approximately 10% of our balance sheet while our capital strength and liquidity continue to be among the best in the industry. We remain focused on execution, managing our expenses and our risk, and serving clients as only we can."
The cost of derivatives trading gone wrong is at $5.8 billion and counting.
In one of the most anticipated earnings releases and conference calls of the second-quarter earnings season, JPMorgan Chase (JPM) CEO Jamie Dimon offered some fresh insight into the whale-size losses incurred in the bank’s London investment office. Fittingly, the bank set aside a full two hours for the call, to allow Mike Cavanagh, the head of treasury and securities services, to fill everyone in on the investigation that he has been conducting into what went awry.
Anyone looking for reasons to remain faithful to the House of Dimon probably came away with plenty of ammunition in the shape of repeated assurances from Dimon that the trading loss was an aberration, that controls have been strengthened, that the bank’s balance sheet remains a "fortress" and its operations are solid. On the flip side, anyone already concerned about what the risk management failures say about the bank probably didn’t walk away feel significantly more upbeat.
The Berkshire Hathaway CEO has benefited from a recent rise in the retail giant's stock.
For about ten years, from 2002 to the end of 2011, Wal-mart (WMT) shares went virtually nowhere, remaining in the upper $50 range. In fact, a year ago FPA Capital Adviser's Steven Romick called the company an "infinite duration bond with a rising coupon."
Recently, however, investors have jumped on the Wal-Mart bandwagon. The stock has increased 21% year-to-date, approaching fair value and making Warren Buffett a richer man.
The collaboration will help the operator of the world's largest futures market expand its services.
Nondeliverable forward (NDF) trades that are electronically executed on Bloomberg's foreign exchange platform, FXGO, will be cleared through CME's clearing brokers.
Don't count on it. Things could get uglier for the world's largest direct seller of beauty products.
Instead, the world's largest direct seller of beauty products could become the next Research In Motion (RIMM).
After a piddling pullback, stocks surge as the uptrend out of the June low reasserts itself.
Well, it's about time. After banging on the table for weeks that this was a buying dip and that the recent six-day pullback was merely temporary, given all the evidence of strength (impressive breadth, stable commodity prices, and lack of panic in the options market), the bulls have reengaged.
The major averages gapped higher Friday morning on an inline Chinese GDP report, decent JPMorgan (JPM) earnings and the lingering aftereffects of a surge of central bank actions earlier in the week. By all indications, prices are headed even higher. Here's how I'm playing the rise.
Stocks are higher as investors' worst fears for JPMorgan and China fail to materialize.
Better-than-expected earnings reports from JPMorgan (JPM), as well as Wells Fargo (WFC), kick-started the second-quarter earnings season, one in which investors were more cautious than they have been in recent years.
JPMorgan took a $4.4 billion second-quarter charge on its London CIO operations and restated its first-quarter results lower based on the losses associated with the "London Whale." The bank's CFO Doug Braunstein pegged the trading loss through Thursday at $5.8 billion, which may have been less than some expected, and the bank said its CIO synthetic credit group has been closed down and all of its London CIO managers have been let go.
Wall Street has no clue about the extent of the banking giant's trading losses.
People may regret buying into the rally, because no one seems to have a clue about what's really happening at the venerable Wall Street company.
Scripps Networks is upgraded to 'buy' at Goldman, and Panera Bread is initiated with a 'buy' at KeyBanc.
Friday's noteworthy upgrades include:
The cosmetics company hopes to convert more travelers into purchasers.
It has succeeded in capitalizing on the growing travel retail market over the past few quarters and currently sells its prestige beauty products through more than 1,000 airport outlets. This channel has performed particularly well within Europe, Asia-Pacific, the Middle East and Africa, generating double-digit net sales growth in fiscal 2011.
These picks meet the long-term value strategy of the legendary fund manager John Neff.
By John Reese, Validea
Over John Neff's 31-year tenure (1964-1995), the Windsor Fund averaged a 13.7% annual return -- a track record among the greatest ever for a mutual fund manager.
By focusing on beaten down, unloved stocks, he was able to find value in places that most investors overlooked. Here's a look at our 10 stock portfolio that is based on Neff's strategy.
The airplane manufacturer walks away with a $14.7B order from UAL.
Aerospace company Boeing (BA) is being hailed the overall winner at the Farnborough Airshow in the UK comes to an end.
According to Reuters, neither Boeing nor Airbus received the amount of orders they would have wanted, but both companies are claiming their own victories.
Supervalu reminds us that a high yield can be a red flag for a flailing stock.
Nothing makes me happier in investing than getting a terrific dividend from a company. And with good reason. Time and again we have seen outsized dividends hold off sellers and stop declines. We have seen the power of reinvesting dividends to compound gains. And we know dividends have provided about half the return investors have gotten in the past decade, a dismal decade for investing. If you pick stocks with good dividends, you are on the right track to successful investing.
Ah, but here's the catch. It's the phrase "good dividends," because we have found that not all dividends are created equal.
The European economy, however, is a different story.
Billionaire investor Warren Buffett, perhaps the greatest investor in history, says the glass is half full when it comes to the U.S., though Europe is another story.
Speaking on CNBC Thursday morning, the Oracle of Omaha argued that "the U.S. economy is faring better than virtually any big economy throughout the world," in part because of the "noticeable" pickup in the residential housing market. Europe, he notes, is in much worse shape as evidenced by growing concerns about Italy and Spain. Of course, the CEO of Berkshire Hathaway (BRK.B) is right.
These consumer-focused plays resist even ugly downturns.
By Jeff Reeves
OK, that "3 stocks that always go up" headline is overhyped. A more accurate title would be "3 stocks that go up most of the time," but fewer of you would have stopped in to have a look.
Still, hear me out, because these three stocks definitely are worth a look.
My methodology was to examine the crash this spring where the S&P 500 shed 9.3% and the Nasdaq dropped 11.1% over two months, and find stocks that actually went up during that ugly time. Not stocks that popped one day on good news, mind you, but stocks that hung in there -- even on the down days.
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Stocks drift lower and bonds are hit as investors await the Fed. Prepare for higher volatility this week.
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[BRIEFING.COM] Equity indices have worked their way off the opening lows, placing the S&P 500 and Nasdaq Composite back above their respective flat lines.
Despite the rebound, the technology sector (-0.1%) continues showing relative weakness with Apple (AAPL 100.37, -1.27) hovering near its early low. However, the Nasdaq has been able to overlook Apple's underperformance thanks to the relative strength in the biotech space. The iShares Nasdaq Biotechnology ETF (IBB ... More
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