updated Wed December 26, 2007

US Stock Futures Indicate Flat to Lower Opening on Wall Street Amid Weaker Holiday Sales

NEW YORK (AP) -- U.S. stock futures slipped Wednesday as investors returned from the holiday to news of weaker than expected retail sales.The International Council of Shopping Centers said its index of retail c...

updated Wed December 26, 2007

Varian Medical Systems Buys Pan-Pacific Enterprises for $2 Million in China Expansion Move

PALO ALTO, Calif. (AP) -- Medical device maker Varian Medical Systems Inc. said Wednesday it completed the buyout of China-based X-ray tube distributor Pan-Pacific Enterprises for about $2 million in cash.Priva...

updated Wed December 26, 2007

Analysts Say Teva Pharmaceutical Could Beat Estimates With Heartburn Drug and Other Generics

NEW YORK (AP) -- Analysts raised their earnings estimates on Teva Pharmaceutical Industries Ltd. Wednesday, saying the company's new heartburn drug could push its profits beyond Wall Street forecasts. On Monday...

updated Wed December 26, 2007

CIBC Analyst Increases 4th-Quarter Loss Estimate for Merrill Lynch on Expected Writedowns

NEW YORK (AP) -- CIBC World Markets Corp. analyst Meredith Whitney on Wednesday increased her fourth-quarter loss forecast for Merrill Lynch & Co. due to increased writedowns.Whitney now expects a loss of $...

updated Wed December 26, 2007

ST Micro Extends Closing Time on Numonyx Joint Venture Until Next March

NEW YORK (AP) -- Chip maker STMicroelectronics N.V. said Wednesday that Intel Corp. and private equity firm Francisco Partners Management LLC have agreed to extend the closing of a deal on their Numonyx memory ...

updated Wed December 26, 2007

JPMorgan Upgrades Bally Technologies on Fiscal 1st-Qtr Results and Greater 2008 Forecast

NEW YORK (AP) -- A JPMorgan analyst upgraded shares of Bally Technologies Inc. Wednesday, saying he expects the casino machine maker's profits to continue to grow.On Thursday, Bally reported results for the qua...

updated Wed December 26, 2007

Retailers Usher in Post-Christmas Business With Deep Discounts Amid Signs of Holiday Gloom

NEW YORK (AP) -- Retailers opened earlier than ever Wednesday and slashed prices with hopes of salvaging a holiday season that is falling short of already modest expectations, according to the latest data relea...

updated Wed December 26, 2007

Ituran Location and Control Renews $9 Million Stock Buyback Program

NEW YORK (AP) -- Ituran Location and Control Ltd. renewed a plan to buy back up to $9 million of its stock, the company said Wednesday.Ituran, which makes devices helping locate lost or stolen cars, reauthorize...

updated Wed December 26, 2007

Optimism in Japan's Small and Midsize Business Sector Falls to Lowest in Nearly 3 Years

TOKYO (AP) -- Sentiment among Japan's small and midsize companies, especially in the housing sector, fell to its most pessimistic level in nearly three years in December, a government-affiliated lender said Wed...

updated Wed December 26, 2007

Standard Motor Products to Sell Corporate Facilities for $40.6 Million, Has UAW Agreement

NEW YORK (AP) -- Standard Motor Products Inc. said Wednesday it agreed to sell its corporate facilities for $40.6 million and will lease 20 percent back for at least 10 years.The auto parts manufacturer also sa...

updated Wed December 26, 2007

Standard Motor Purchasing UK Wire and Cable Company to Combine With Existing Business

NEW YORK (AP) -- Standard Motor Products Inc. said Wednesday it has agreed to acquire a small wire and cable company in the U.K.The auto parts manufacturer did not disclose the name of the company or terms of t...

updated Wed December 26, 2007

Cooper Industries Buying 3 Privately Held Companies for $100 Million

HOUSTON (AP) -- Cooper Industries Ltd., which makes and sells electrical products and tools, said Wednesday it bought three privately held companies for a total of $100 million.The company purchased Oregon-base...

updated Wed December 26, 2007

Universal Stainless & Alloy Products Names Dennis M. Oates Chief Executive and President

BRIDGEVILLE, Pa. (AP) -- Specialty steel company Universal Stainless & Alloy Products Inc. on Wednesday named board member Dennis M. Oates chief executive to succeed founder Clarence M. McAninch.McAninch, 7...

updated Wed December 26, 2007

Amazon.com Edges Higher After Reporting Strong Holiday Sales; Target Declines

NEW YORK (AP) -- Shares of Amazon.com edged higher in a light premarket trading session Wednesday after it said its 13th holiday season was the strongest in the online retailer's history.The Seattle company rel...

updated Wed December 26, 2007

Lender Increases Akeena Solar Credit Line to $25 Million From $7.5 Million

LOS GATOS, Calif. (AP) -- Akeena Solar Inc., which designs and installs solar power systems, said Wednesday a lender will increase its existing credit line to $25 million from $7.5 million.The company plans to ...

updated Wed December 26, 2007

S&P: October Home Prices Fall by Record 6.7 Percent From a Year Earlier

NEW YORK (AP) -- U.S. home prices fell in October for the 10th consecutive month, declining a record 6.7 percent compared with a year ago, according to the Standard & Poor's/Case-Shiller home price index. "...

updated Wed December 26, 2007

Iran, Malaysia Sign Oil $16 Billion Deal to Develop 2 Iranian Gas Fields

TEHRAN, Iran (AP) -- Iran and Malaysia signed a $16 billion agreement to develop two Iranian gas fields, state-run television reported Wednesday, describing the deal as the largest energy contract in Iran. Iran...

updated Wed December 26, 2007

Analysts See Growth and Larger Market Share Ahead for Data Storage Company 3Par

NEW YORK (AP) -- Analysts predicted Wednesday that 3Par Inc., which had its initial public offering last month, will take a larger share of the data storage market because of the quality of its products. Three ...

updated Wed December 26, 2007

Aqua America Unit Purchases Western Hancock Utilities for a Little More Than $5 Million

BRYN MAWR, Pa. (AP) -- Water utility holding company Aqua America Inc. said Wednesday its Indiana unit bought wastewater company Western Hancock Utilities Inc. for a little more than $5 million.The acquisition ...

updated Wed December 26, 2007

FedEx to Raise Rates by 5.5 Percent at Freight and Long Haul Less-Than-Truckload Units

MEMPHIS, Tenn. (AP) -- FedEx Corp. said Wednesday it will increase rates for its freight and long haul less-than-truckload units by about 5.5 percent effective Jan. 14.The general rate increase will apply to in...