In trading on Tuesday, education & training services shares were relative leaders, up on the day by about 5.1%. Leading the group were shares of Grand Canyon Education (LOPE), up about 24.2% and shares of Education Management (EDMC) up about 17.4% on the day.
CVS Caremark (CVS) announced that it earned $966 million, or 75 cents per share, in its most recent fiscal quarter, versus $816 million, or 16 cents per share, in the same period last year. Results beat estimates, and revenue increased by 16 percent.
8-01-2012- You may have to wait a little longer to get your hands on Google’s new media streaming device. The internet behemoth told customers who pre-ordered its Nexus Q gadget that shipments would be delayed so that devices could be improved. Early reviews of the device were poor, with some criticizing it for being too limited in its abilities. No doubt this poor reception sparked the need for adjustments to be made.The Nexus Q will retail for $299 and currently only works with Google related media. The device is meant to compete with Apple’s Apple TV, which retails for only $99 and works for non-Apple related media. For more coverage of the business world follow us on Twitter @FNNonline.
Stocks finished modestly higher on Monday hitting fresh three-month highs, amid expectations that the ECB would address the region’s debt crisis. In corporate news, Apple (AAPL) said the new version of its iPhone and iPad software will not include Google’s (GOOG) YouTube app preinstalled.
Time Warner Inc. (NYSE: TWX) has acquired the sports news website The Bleacher Report through its Turner Broadcasting division. According to the Wall Street Journal, Turner Broadcasting paid approximately $175 million dollars for the website. Turner is buying The Bleacher Report in an attempt to add to its already impressive sports media portfolio. The division currently manages two other flagship sports websites: basketball’s NBA.com, and golf’s PGA.com. Turner Broadcasting is known primarily for its television stations, such as CNN and TBS. The Bleacher Report was founded in 2006 and is viewed by over 10 million unique visitors a month.
Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
In trading on Monday, showing relative strength are music & electronics stores shares, up on the day by about 5.2% as a group, led by Best Buy (BBY), trading up by about 18.4% and Hhgregg (HGG), trading up by about 6.1% on Monday. For MarketNewsVideo.
8-2-2012- General Motors (NYSE:GM) posting strong second quarter results this morning despite weakness in Europe. The automaker had EPS of $0.90, topping analyst estimates of $0.74. Revenue for the quarter fell to $37.6 billion, a little less than the $38.58 billion analysts were expecting.GM said the lower revenue was due to an operating loss of $361 million in Europe. However analysts predicted a bigger loss, making it higher than expected. Chief Financial Officer Dan Ammann said the company is taking decisive action in Europe which he says is a very challenging environment.This is GM’s 10th straight profitable quarter. The company did not give a profit outlook for the second half of the year. For more financial news and analysis follow us on Twitter @FNNOnline or check out our website at fnno.com.
For The Financial News Network you are watching FNNO.com. The Labor Department is back in our sights as the number of jobless claims rises, yet again. According to the agency, new claims rose to around 8,000 from last week for a total of 365,000. It’s no wonder–with reports of companies like UBS gradually laying off thousands of employees to make up for lost revenue. This doesn’t bode well for the expected added jobs numbers in the month of July. Analysts expect the unemployment rate to remain steady at 8.2% but only 95,000 jobs added in the month, a very low number for job growth. Investors surely are hoping tomorrow’s monthly jobs report from the Labor Department will will be higher than that number. For more up to date business news and other videos, find us online at FNNO.com or follow us on Twitter @FNNONLINE.
8-2-2012- Time Warner Cable (NYSE:TWC) will be one to watch today after it posted its second quarter results. Profit for the company rose 7.6% with an EPS of $1.48, excluding restructuring costs. This was higher than analysts expectations of $1.39 a share. Revenue also rose 93.% to $5.4 billion which was in line with estimates.The company said the boost was due to growth in its high-speed services segment but it did lose video subscribers over the quarter. The loss also comes with the higher programmer fees that have been plaguing cable providers recently. By the numbers, Time Warner Cable lost 169,000 video subscribers in the quarter.
