Dell reported higher than expected second quarter earnings today. Dell said it earned $733 million, or 32 cents per share, for the second quarter. These results were 46% higher than the same period in 2006 during which time Dell earned $502 million, or 22 cents per share. Sales rose 4 percent to $14.8 billion.
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Altria said today that it plans to spin off its international tobacco unit. Details on the spin off will not be made public until January. The company also raised it quarterly dividend by 8.7% to 75 cents a share. Analysts were expecting a dividend increase of 10%. This spin off is the second of recent Altria spin offs, the […]
Lone Star announced today that it is extending its offer to buy all outstanding shares of common stock of Accredited Home Lenders until 12:00 midnight on September 12, 2007, in accordance with Lone Star’s obligations under the merger agreement with the Company. On August 10th Lone Star amended its Tender Offer Statement indicating that […]
It has been reported that Home Depot will accept $8.5 billion from private equity firms for its Wholesale Supply Unit cut down $1.8 billion from the original offer. The lower price is due to the tighter conditions that have arisen in the credit markets. The deal is expected to allow Home Depot to proceed with its plan to buy back […]
The courts have given the thumbs up for the Whole Foods/Wild Oats merger. The U.S. Court of Appeals for the District of Columbia Circuit denied a request by the FTC to block the $565 million merger. The U.S. Court of Appeals ruling was released after Wall Street had closed on Thursday night. Both Wild Oats and Whole Foods were […]
Countrywide reported today that Bank of America invested $2 billion in the company in order to help it weather the current loan crunch. Bank of America’s investment in Countrywide represents a great vote of confidence in the strength of Countrywide to weather the current mortgage crisis and get through on top. Countrywide was up 20% in […]
