Reports surfaced Thursday that Borders (BGP) started negotiating with banks for financing to help keep the bookstore chain liquid during bankruptcy proceedings. Later in the evening, GE Capital made a $550 million financing commitment to the embattled company.

This financing should allow Borders the financial flexibility and level of liquidity to advance its restructuring plan. The plan includes closing stores, cutting costs, expanding its rewards program, and increasing non-book offerings -- all with the goal of improving cash flow and profits. Borders did note that it will explore alternative possibilities, such as restructuring its debt under court supervision.

Continue reading GE Capital Commits $550 Million to Borders

GE Capital Commits $550 Million to Borders originally appeared on BloggingStocks on Fri, 28 Jan 2011 09:30:00 EST. Please see our terms for use of feeds.

Early Friday morning, Bank of America (BAC) reported a fourth-quarter loss of 16 cents per share ($1.2 billion). This includes the company's previously announced goodwill impairment charge of $2 billion that was related to its home loans and insurance business. Taking this charge out of the equation, BAC earned 4 cents per share. It could be an interesting morning for BAC, as experts predicted earnings of 18 cents per share.

Shares of BAC were down more than 2% as we await the opening bell. This drop should push the stock low enough to mount a serious challenge to the support of both BAC's 20-month moving average and the $14 level.

Continue reading Bank of America Posts $1.24 Billion Loss for Fourth Quarter

Bank of America Posts $1.24 Billion Loss for Fourth Quarter originally appeared on BloggingStocks on Fri, 21 Jan 2011 09:00:00 EST. Please see our terms for use of feeds.

After the closing bell sounded Wednesday, Seagate Technology (STX) reported its second-quarter results. The tech firm announced that it logged non-GAAP earnings of 33 cents per share ($159 million). The firm's earnings of 33 cents per share matched the consensus estimate, as did the firm's quarterly revenue of $2.72 billion.

STX also reported its performance during the six-month period that ended on Dec. 31, 2010. During this time, the firm's GAAP basis revenue was $5.4 billion, gross margin was 19.9%, net income totaled $299 million, and diluted earnings hit 61 cents per share.

Continue reading Seagate Technology Earnings Meet Expectations

Seagate Technology Earnings Meet Expectations originally appeared on BloggingStocks on Thu, 20 Jan 2011 10:30:00 EST. Please see our terms for use of feeds.

It appears that Wendy's/Arby's (WEN) is about to have a roast beef sale. The company announced this morning that it is considering selling the struggling Arby's chain in order to focus more on the Wendy's hamburger chain.

Both sides of the company's eateries, Wendy's and Arby's, have seen sales slump, but Arby's has had the most problems thanks mainly to sandwiches that can cost more than five bucks. With such a price tag , those sandwiches weren't selling wel in the current economic atmosphere.

Continue reading Wendy's/Arby's Group May Sell Arby's

Wendy's/Arby's Group May Sell Arby's originally appeared on BloggingStocks on Thu, 20 Jan 2011 09:30:00 EST. Please see our terms for use of feeds.

Wednesday morning, banking giant Wells Fargo (WFC) announced that its fourth-quarter profit increased sharply thanks to improving customer payment habits and lower reserves to cover "souring loans."

During the quarter, Wells Fargo reported net income of 61 cents per share ($3.2 billion), matching the consensus estimate. A year earlier, the company earned 8 cents per share ($394 million) thanks to a large preferred dividend paid to the government (this payment was not necessary this year). The bank's CEO John Stumpf stated that the bank's business segments "contributed to earnings as the economy started to gain strength."

Continue reading Lower Reserves Lead to Higher Profit for Wells Fargo

Lower Reserves Lead to Higher Profit for Wells Fargo originally appeared on BloggingStocks on Wed, 19 Jan 2011 12:00:00 EST. Please see our terms for use of feeds.

Continue reading Verizon Releases Details on the iPhone Release

Verizon Releases Details on the iPhone Release originally appeared on BloggingStocks on Tue, 11 Jan 2011 13:30:00 EST. Please see our terms for use of feeds.

Tuesday morning, SuperValu (SVU) was one of the biggest losers on the Street, with a drop in excess of 12% thanks to its third-quarter earnings report.

The supermarket operator reported a third-quarter loss of 95 cents per share ($202 million) compared to a profit of 51 cents per share ($109 million) a year ago. The recent third quarter includes write-downs of $1.19 per share ($252 million) and was impacted by weaker sales and margins. The firm's quarterly revenue dropped 5.9% to $8.67 billion, which is a sour follow up to the 9.5% drop from a year ago.

Continue reading SuperValu Plummets Thanks to Quarterly Loss

SuperValu Plummets Thanks to Quarterly Loss originally appeared on BloggingStocks on Tue, 11 Jan 2011 12:00:00 EST. Please see our terms for use of feeds.

Tuesday morning, Sears Holding (SHLD) released a bit of good and a bit of bad news. Let's start with the bad news.

The retailer announced that its same-store sales dropped 1.7% during December. The company's eponymous Sears stores saw December same-store sales fall 6%, more than offsetting Kmart's 2% growth. The firm blamed the sales drop at Sears on a major decline in sales of consumer electronics, along with appliances and tools.

Continue reading Sears Same-Store Sales Slump in December, Forecasts Strong Q4 Earnings

Sears Same-Store Sales Slump in December, Forecasts Strong Q4 Earnings originally appeared on BloggingStocks on Tue, 11 Jan 2011 10:30:00 EST. Please see our terms for use of feeds.

Earlier today, shares of oil behemoth BP plc (BP) slid lower thanks to the shutdown of the Trans-Alaska Pipeline System. The shutdown took place on Saturday, as a leak was discovered at the 800-mile network that transports oil across Alaska. BP owns a 47% stake in the pipeline system. Overseas, BP shares finished the day more than 1% lower and are currently mere percentage points lower in American trade.

BP has seen its fair share of problems lately, what with the whole Gulf of Mexico oil spill. In fact, the Oil Spill Commission blamed BP for having "a role in all of the mistakes made at the Macondo well." The pipeline's operator stated that the leak was discovered at 8:15 AM (local time) on Saturday and that the pipeline was shut at 8:50 AM. By 6 AM on Sunday, 90% of the oil had been recovered within the building.

Continue reading Alaskan Pipeline Shutdown Pushes BP Lower

Alaskan Pipeline Shutdown Pushes BP Lower originally appeared on BloggingStocks on Mon, 10 Jan 2011 16:30:00 EST. Please see our terms for use of feeds.

Continue reading DuPont Purchasing Danish Firm Danisco

DuPont Purchasing Danish Firm Danisco originally appeared on BloggingStocks on Mon, 10 Jan 2011 14:30:00 EST. Please see our terms for use of feeds.

Monday morning, the publisher of iconic adult magazine Playboy (PLA) announced that it will take the company private, thanks to a "sweetened offer" from the magazine's founder Hugh Hefner. The offer of $6.15 per share represents an 18% premium from the stock's Friday close. The total offer values the company at $207 million. Back in July, Hefner's Icon Acquisition Holdings LP offered $5.50 per share.

Playboy has had other offers, including an offer of $210 million from rival Penthouse magazine. That said, Hefner is Playboy's largest shareholder with roughly 70% of the company's voting shares and 28% of the company's nonvoting stock. Hefner noted that the "agreement will give us the resources and the flexibility to return Playboy to its unique position and to further expand our business around the world."

Continue reading Hefner Is Taking Playboy Private

Hefner Is Taking Playboy Private originally appeared on BloggingStocks on Mon, 10 Jan 2011 11:30:00 EST. Please see our terms for use of feeds.

Continue reading Holiday Sales Falling Short of Expectations

Holiday Sales Falling Short of Expectations originally appeared on BloggingStocks on Thu, 06 Jan 2011 12:00:00 EST. Please see our terms for use of feeds.

Continue reading Star Scientific Seeks New FDA Designation

Star Scientific Seeks New FDA Designation originally appeared on BloggingStocks on Tue, 04 Jan 2011 15:30:00 EST. Please see our terms for use of feeds.

Continue reading Macy's to Create 725 Online Jobs

Macy's to Create 725 Online Jobs originally appeared on BloggingStocks on Tue, 04 Jan 2011 10:00:00 EST. Please see our terms for use of feeds.

The Labor Department reported Thursday that jobless benefits dropped 34,000 to a seasonally adjusted 388,000 in the past week. Economists expected a smaller drop to 413,000 claims. Not only was the drop larger than expected, but it was also the lowest level since July 2008.

The four-week average of new claims, which helps smooth out data, fell by 12,500 to 414,000 -- also the lowest level since July 2008. In the week ending December 18, the number of people continuing to receive state unemployment benefits increased 57,000 to 4.13 million. The four-week average of these same claims dropped 37,50 to 4.12 million, the lowest level since November 2008.

Continue reading Jobless Claims Fall to 388,000

Jobless Claims Fall to 388,000 originally appeared on BloggingStocks on Thu, 30 Dec 2010 10:00:00 EST. Please see our terms for use of feeds.

Just as we are hearing that retailers had a great December, we get news from the Conference Board that U.S. consumer confidence dropped to 52.5 in December. Expectations had been for an increase to 56.9, making for quite a disparity between expectation and reality.

The director of the Conference Board's consumer research center, Lynn Franco, noted that "Consumers' assessment of the current state of the economy and labor market remains tepid, and their outlook remains cautious." Franco added that signs suggest continuing growth for the economy, "but that the pace of growth will remain moderate."

Continue reading Consumer Confidence Drops in December

Consumer Confidence Drops in December originally appeared on BloggingStocks on Tue, 28 Dec 2010 12:00:00 EST. Please see our terms for use of feeds.

Pharmaceutical company MannKind (MNKD) shares have traded considerably higher this morning, gaining 9% shortly after the opening bell and trading in the upper $8 region. It appears that the rally was sparked by news that the U.S. Federal Drug Administration would not be able to complete a review of the company's inhaled insulin Afrezza by December 29.

The FDA added that it will need roughly four more weeks to complete the review. Back in July, the FDA accepted a resubmission on Afrezza and classified it a class 2 response.

Continue reading MannKind's Inhaled Insulin Verdict Delayed by FDA

MannKind's Inhaled Insulin Verdict Delayed by FDA originally appeared on BloggingStocks on Tue, 28 Dec 2010 10:00:00 EST. Please see our terms for use of feeds.

Continue reading Alimera Sciences Plummets on FDA Decision

Alimera Sciences Plummets on FDA Decision originally appeared on BloggingStocks on Mon, 27 Dec 2010 14:00:00 EST. Please see our terms for use of feeds.

We may soon see "one of the biggest advances in years in the technology that powers laptop and desktop computers," according to the Wall Street Journal, as chipmakers begin to merge microprocessors and graphics-processing units.

Microprocessors are described as "the calculating engines that run most PC software," while graphics-processing units "render images in video games and other programs." According to the report, Intel (INTC) and Advanced Micro Devices (AMD) are expected to make announcements about this move at the upcoming Consumer Electronics Show.

Continue reading AMD and Intel to Introduce Combination Chips

AMD and Intel to Introduce Combination Chips originally appeared on BloggingStocks on Mon, 27 Dec 2010 10:00:00 EST. Please see our terms for use of feeds.

Thursday morning, the Commerce Department announced that orders for U.S.-made durable goods dropped during November, falling 1.3% for the month. The drop was larger than the expected drop of 0.5%.

Taking transportation out of the picture, new orders increased by 2.4%, showing that the major drag on the data was transportation-equipment orders. Core durable-goods orders (which exclude defense and aircraft) increased 2.6%, a far better performance than the 3.6% decline in October. Analysts at Barclay's Capital called for a gain in core capital goods that reflect, "further expansion in the manufacturing sector."

Continue reading Durable Goods Orders Drop in November

Durable Goods Orders Drop in November originally appeared on BloggingStocks on Thu, 23 Dec 2010 12:00:00 EST. Please see our terms for use of feeds.