Poor HP Earnings Dim Hopes for Tech
Investors looking for evidence that the tech sector has rounded recession’s corner were disappointed by results released Aug. 18 by Hewlett-Packard (HPQ). The world’s largest maker of computers said profits tumbled 19% and that while business conditions are becoming more stable, pricing battles are likely to erode profit further. “We’re encouraged by the stability we’re [...]
Japan pulls out of recession, but outlook shaky
TOKYO (Reuters) – Japan’s economy returned to growth in the second quarter, pulling out of its longest recession since World War Two, but analysts warned of a rocky road ahead as the nascent recovery was based on short-term stimulus efforts around the world.
The growth was mostly in line with forecasts and added to evidence that [...]
Abercrombie prepares to cut prices
Michael Jeffries, the CEO of struggling retailer Abercrombie & Fitch (NYSE: ANF) recently told investors on a conference call that “Consumer spending patterns domestically continue to be dictated by cost and value propositions, and this is clearly a headwind for our premium brands.”
Abercrombie has garnered headlines for its steadfast refusal to cut prices to keep [...]
Fortune names RIM world's fastest-growing firm
American business magazine Fortune has named Canadian technology icon Research in Motion Ltd. (TSX: RIM), maker of the BlackBerry, the world’s fastest-growing company.
Waterloo, Ont.-based RIM – one of Canada’s most valuable companies with a stock worth of $44 billion – was one of two Canadian businesses that made the top 10 after Fortune opened its [...]
HP results offer crucial snapshot of IT demand
SAN FRANCISCO (Reuters) – Hewlett-Packard (HPQ.N) kicks off earnings from global PC makers this week and might show hints of returning consumer demand, but investors will be watching for a revival in corporate spending.
The world’s top computer maker and IT services giant reports on Tuesday. The pivotal question is whether business spending, which tanked during [...]