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The tech sector got a boost on Wednesday after Intel (INTC) reported third-quarter profit that came in higher than analysts' predictions. The Santa Clara-based company reported third-quarter net income of $1.9 billion, but improved its guidance for the current quarter. During the company's conference call, CEO Paul Otellini talked about the growth of notebook PCs versus Netbooks .
Abbott Laboratories (ABT) also raised its earnings outlook after its recent strong quarter. The health-care giant reported third-quarter earnings of 95 cents per share, far better than last year's 69 cents per share.
Pfizer Inc. (PFE) is a little closer to finally closing the deal on Wyeth. The world's biggest drugmaker has won US and Canadian regulatory approval for its $68 billion acquisition of the company.
Bloomberg LP announced today that it has purchased BusinessWeek from McGraw-Hill. The official purchase price has not been released, but people are speculating that Bloomberg paid less than $5M for the online publication. Could the Wall Street Journal be the next publication on the company's wish list ?
What Will Bloomberg Do with BusinessWeek?
Taking Another Look At The BusinessWeek Deal
Here comes another possible acquisition. Thomson Reuters (TRI) has extended an offer to purchase online financial commentary business Breakingviews. The deal is expected to be completed within eight weeks.
With the holiday season quickly approaching, retail sales are becoming more relevant than ever. Over the last few months, sales have bounced around as cash-strapped consumers tried to feel out the economic recovery. The latest report from the Commerce Department showed that sales at US retailers fell less than forecast in September. Sales may have exceeded expectations, but what about revisions ?
Its looks like the Securities and Exchange Commission has finally become the defendant in one of these lawsuits. Two victims of Bernard L. Madoff's huge Ponzi scheme sued the SEC for failing to protect investors. The two plaintiffs are seeking the $2.4M they lost in the fraud.
Wal-Mart (WMT) has always been known for its cheap prices. The giant discount retailer is now looking to expand its presence in the prepaid cell phone market. The company will start offering two no-contract wireless service plans.
JPMorgan Chase & Co.'s (JPM) reported some surprisingly strong 3Q profits after most of its businesses showed a dramatic upswing. Although investors were pleased with the results, the large amount of write-offs in the credit card division has some people worried.
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The Senate Finance bill, while not pleasing everyone, is probably close to what might finally emerge as reform of U.S. health care. What Comes Next?
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How about a bailout for student debtors? -- If the U.S. can come to the assistance of banks and homeowners, surely it could offer a helping hand in the form of lower interest rates for students.
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