The Other Side of Life 24/7: Business Today: Stock futures higher as key companies report strong results

Tuesday, October 16, 2012

Business Today: Stock futures higher as key companies report strong results

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10/16/2012

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Stock futures higher as key companies report strong results

NEW YORK (Reuters) - U.S. stock index futures rose on Tuesday as some strong earnings from key companies assuaged fears about the global economy.

Citigroup CEO Vikram Pandit resigns

NEW YORK (Reuters) - Citigroup Inc Chief Executive Vikram Pandit has resigned effectively immediately, the company said on Tuesday in a statement from Chairman Michael O'Neill.

CPI rises 0.6 percent on surge in gasoline

WASHINGTON (Reuters) - Consumer prices rose in September as the cost of gasoline surged, posing a threat to consumers' spending power although faster inflation looked unlikely to derail the Federal Reserve's ultra-easy policy path.

Goldman Sachs revenue more than doubles on investment gains

(Reuters) - Goldman Sachs Group Inc reported a third-quarter profit, reversing a year-earlier loss, as revenue more than doubled due to gains in stocks and bonds the investment bank holds as investments.

Coca-Cola's profit in line with estimates, revenue is light

(Reuters) - Coca-Cola Co reported quarterly earnings in line with Wall Street estimates on Tuesday, but revenue fell slightly short, and its shares fell nearly 1 percent in premarket trading.

Johnson & Johnson third quarter profit beats view as drug sales rebound

(Reuters) - Johnson & Johnson reported better-than-expected quarterly results on Tuesday, as pharmaceutical sales rebounded with the help of newer products, including treatments for prostate cancer and hepatitis C.

State Street third-quarter net rises, forex revenue plummets

BOSTON (Reuters) - State Street Corp , the No. 2 global custody bank, said Tuesday that third-quarter net income rose 20 percent, but foreign currency trading results fell sharply, pulling down overall revenue.

Japan's Softbank snaps up Sprint in $20 billion deal

(Reuters) - Japanese mobile operator Softbank Corp said it will buy about 70 percent of Sprint Nextel Corp for $20.1 billion, giving Softbank the American toehold it has long desired and Sprint the capital to expand its network and potentially buy peers.

Germany's Schaeuble advocates leap in euro integration

ABU DHABI (Reuters) - German Finance Minister Wolfgang Schaeuble has called ahead of an EU summit for a great leap forward in European integration, urging the creation of a new commissioner with power over budgets and reform of European Parliament decision-making.

Geography shouldn't matter in choice of WTO chief: Lamy

TOKYO (Reuters) - World Trade Organization Director General Pascal Lamy said on Saturday that there was no system of rotating his job between countries and regions and his successor should be picked on the basis of competence alone.