Conglomerate General Electric reports third-quarter earnings of $2.5 billion, or $0.22 per share, including restructuring and other charges. Details to come.
The competition in the e-reader and e-book industries gets more brutal by the day, giving more competition to e-reader leader Amazon. Its latest competitor Walmart, which has one of the most visited e-commerce sites in the US, has launched a new program to sharply increase it market share in the e-book business.
One of the provisions in prominent banker Bruce Wasserstein's compensation package was a payout of 4.4 million restricted shares in the investment bank upon his death. The shares have been vesting for four years and based on the current price of Lazard's stock, the value of the payment is about $188 million.
Internet giant Google's better-than-expected earnings results reveal that the online advertising market is bouncing back after being knocked down by the recession. The company pocketed a record $1.64 billion over the last quarter. IBM also beats estimates and raises its outlook for 2009 to at least $9.85 per share, versus a prior forecast of at least $9.70. Despite the better-than-expected results, IBM shares slip in after-hours trading.
Here's a great example of why they're called futures markets and not presents markets: There's plenty of heating oil to go around -- indeed, inventories are at their highest level in nearly three decades -- and yet prices are going up.
Bank of America Corp.'s outgoing CEO, Ken Lewis, will get no salary or bonus for 2009 under an agreement with the government pay czar, who is scrutinizing compensation at bailed-out banks.
