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Posted by On Feb 26, 2009

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Posted by StarryGift On Mar 20, 2009


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Friday, June 24, 2011

Sears to spin off Orchard Supply Hardware chain in IPO

Sears Holdings Corp. plans to spin off its home improvement unit, Orchard Supply Hardware, as a separate publicly traded company, the department store giant said Thursday. The move comes amid a flurry of initial public offerings in recent months.

Known as OSH, Orchard Supply Hardware is a San Jose-based chain that operates 89 stores, all of them in California. OSH reported a profit of $8.7 million on $660.7 million in revenue in fiscal 2010.

The chain plans to be traded as OSHS on the Nasdaq once Sears Holdings, its parent company since 1996, spins it off as a standalone company.

Significantly smaller than its national big-box rivals Home Depot and Lowe's, OSH began in the 1930s as a purchasing cooperative by orchardists selling picking pails and ladders, according to the San Jose Mercury News. In the 1950s, it became a general retailer and has gone through several ownership changes since.

Sears Holdings said in a filing with the Securities and Exchange Commission that it believed OSH would generate more value for shareholders as an independent company and valued the IPO at $82 million. The company did not list a target price for the stock and said the spin-off, expected to go to market in the fall, still needed final approval from its board of directors.

-- Andrea Chang

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Could The US Have An ?Expansionary Fiscal Contraction??


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Straight Talk


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Burberry Shares Leap on Sales Update

BurberryShares in British luxury goods company Burberry Group PLC jumped Tuesday after the company reported strong second-half sales and predicted a full-year profit at the top end of market forecasts.

Burberry's popularity in the Asia Pacific region, particularly Hong Kong and Taiwan, led sales 33 percent higher in the six months to March 31, compared to a year earlier.

Chief Executive Angela Ahrendts said the company expects full-year pretax profit to be at the top end of market forecasts, or around 347 million pounds ($564 million).

"While the luxury industry faces global challenges in the year ahead, we remain confident in our team's ability to outperform, underpinned by the consistent execution of our key strategies," said Ahrendts in a trading update.

Continue reading Burberry Shares Leap on Sales Update

Burberry Shares Leap on Sales Update originally appeared on BloggingStocks on Tue, 19 Apr 2011 08:04:00 EST. Please see our terms for use of feeds.

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Johnson & Johnson's Income Falls 23%

Health care giant Johnson & Johnson says sales rebounded but its profit dropped 23 percent in the first quarter, due to higher expenses, costs of recalls and litigation and a tax gain that boosted results a year ago.

Adjusted earnings topped expectations. J&J also raised its full-year earnings outlook.

The maker of Band-Aids, baby shampoo and birth control pills posted net income of $3.48 billion, or $1.25 per share, down from $4.53 billion, or $1.62 per share, in 2010's first quarter.

But after two years of declines, revenue rose by 3.5 percent to $16.17 billion.

Adjusted income was $4.86 billion, or $1.35 per share. Analysts expected earnings of $1.03 per share and revenue of $15.6 billion.

Johnson & Johnson's Income Falls 23% originally appeared on BloggingStocks on Tue, 19 Apr 2011 08:22:00 EST. Please see our terms for use of feeds.

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Goldman Earnings Sink After Buffett Dividend

goldman sachsGoldman Sachs' first-quarter income fell 72 percent after the bank paid $1.64 billion in dividends to redeem preferred shares it issued to billionaire investor Warren Buffett during the financial crisis.

The New York investment bank said Tuesday that it earned $908 million, or $1.56 per share, compared with $3.3 billion, or $5.59 a share in the first quarter of last year.

Excluding the dividend payment, earnings per common share were $4.38, beating the $3.95 per share forecast of analysts surveyed by FactSet.

Revenue fell 7 percent to $11.9 billion on weakness in the bank's core businesses of trading stocks and bonds and advising clients. Goldman's stock fell 0.9 percent to $152.38 in late morning trading.

The Federal Reserve gave Goldman Sachs Group Inc. permission to repay Berkshire Hathaway last month. While the Fed's decision wasn't a surprise given Goldman's ever-widening profits since the financial crisis, it reflected how far Goldman and other major banks have progressed from the darkest days of September 2008.

Continue reading Goldman Earnings Sink After Buffett Dividend

Goldman Earnings Sink After Buffett Dividend originally appeared on BloggingStocks on Tue, 19 Apr 2011 09:03:00 EST. Please see our terms for use of feeds.

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Head Scratcher

Mercenary Links Roundup for Thursday, June 23rd (below the jump).

06-23 Thursday

?Head-Scratcher? IEA Petroleum Release to Inflate U.S. Crude Supply Glut

Greece and Foreign Lenders Agree on Austerity Plan –

Greece agrees to more austerity cuts –

EU Halts Greek Backtrack on Austerity –

China Formally Working With IMF To Avoid Eurozone Restructuring | zero hedge

As Greece Ponders Default, Lessons From Argentina –

Greece?s euro exit can now only be a matter of time –

Some Greeks Fear Government Is Selling Nation –

Tax Dispute Stalls Debt Talks –

Eric Cantor, House G.O.P. Leader, Leaves Budget Talks –

Americans See Debt Threat, Reject Tax ?Scare? – Bloomberg

U.S. Firms Mitigate Tax Impact by Incorporating Overseas –

China’s Wen says prices under control: report | Reuters

HK to set daily renminbi rate against dollar –

Airbus Adds $18 Billion Plane Order From AirAsia –

Many Cities Face a Long Wait for Jobs to Return –

J.P. Morgan Drops Pursuit of Some Credit-Card Debt –

Emerging Markets – US to Lose Second Place in World Trade to India: Citi

Global Oil Reserves Tapped in Effort to Cut Cost at Pump –

A Coalition Strike on Oil Prices –

Global oil supplies are healthier than they seem | The A-List

Traders disagree on outlook for crude spreads –

For Many in Britain, Being a Homeowner Is a Fading Dream –

BOE Says Debt Crisis Is Biggest U.K. Financial-Stability Threat – Bloomberg

Hedge fund bosses sound alarm on super-sized funds | Reuters

Exclusive: Deutsche’s firing of top trader sparks probe | Reuters

U.S. Says Gadhafi Might Flee Tripoli –

Arrest Puts Spotlight on Brazen Hacking Group LulzSec –

Russian Social Network VKontakte Said to Consider Public Offering in U.S.

Obama eyes investments in technology manufacturing | Reuters

F.T.C. Is Said Near a Move On Google –

The Rise and Inglorious Fall of Myspace – BusinessWeek

Alleged Crime Boss James ‘Whitey’ Bulger Arrested –

Expert on Mental Illness Reveals Her Own Struggle –

As Japan’s Towns Scrutinize Reactors, Tokyo Sweats –


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