The Other Side of Life 24/7: Daily Investor Briefing: HP profit down 32 percent, shares up...

Wednesday, May 22, 2013

Daily Investor Briefing: HP profit down 32 percent, shares up...

Click to View in Browser

05/22/2013

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

HP profit down 32 percent, shares up as results beat estimates

SAN FRANCISCO (Reuters) - Hewlett-Packard Co's quarterly profit slid 32 percent but the world's largest personal computer maker raised the lower end of its full-year outlook after earnings per share beat forecasts, sending its stock 10 percent higher.

Wall Street falters in volatile session on Fed worries

NEW YORK (Reuters) - Stocks fell on Wednesday with the S&P 500 posting its biggest decline in three weeks, after minutes from the latest Federal Reserve meeting showed some officials were open to tapering large-scale asset purchases as early as at the June meeting.

Bernanke says more progress needed before stimulus pullback

WASHINGTON (Reuters) - The Federal Reserve's monetary stimulus is helping the economy recover but the central bank needs to see further signs of traction before taking its foot off the gas, Fed Chairman Ben Bernanke said on Wednesday.

Home sales close in on three-and-a-half year high

WASHINGTON (Reuters) - Home resales rose in April to the highest level in nearly 3-1/2 years and prices surged, offering the economy a buffer from the stiff headwinds posed by belt-tightening by Washington.

PepsiCo rethinks U.S. pricing to attract more everyday buyers

(Reuters) - PepsiCo Inc said it is tweaking its drink-pricing strategy in some parts of the United States, as it aims to wean consumers off the habit of buying soda only when it is on sale.

Bob Lutz, Chinese parts maker offer $20 million for Fisker: sources

DETROIT (Reuters) - China's largest auto parts maker and a boutique car company led by former General Motors Co executive Bob Lutz have offered $20 million to buy "green" carmaker Fisker Automotive, people familiar with the matter said on Wednesday.

Europe targets Switzerland in fight against bank secrecy

BRUSSELS (Reuters) - Europe edged closer to lifting banking secrecy on Wednesday after Austria said it was ready to share data on foreign depositors but Vienna's support could fade should efforts to strike a similar deal with Switzerland fail.

Delta will wait for new planes to prove themselves: CEO

(Reuters) - U.S. carrier Delta Air Lines will watch the wave of orders for the latest Airbus and Boeing planes roll on by and wait for the jets to prove themselves before ordering any, its chief executive told Reuters on Wednesday.

Delta Airlines wants to stop Ex-Im help on big jets

(Reuters) - Delta Air Lines Inc wants the U.S. Export-Import Bank to stop helping state-owned foreign airlines buy wide-body jets from Boeing Co , and would be willing to forgo such support for its own purchases if all such subsidies were eliminated, its chief executive said on Wednesday.

Dish uses national security ads to fight SoftBank deal

(Reuters) - Dish Network Corp has rolled out an advertising campaign suggesting a deal by a Japanese company to acquire Sprint Nextel Corp could threaten U.S. national security, hoping to sway lawmakers and win support for its rival offer.