AP Financial News Summary at 8:58 a.m. EST
Mar. 01, 2006
Consumer Spending Shows Big Gain in Jan.
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WASHINGTON (AP) _ Consumers, lured out to the stores by the warmest January in more than a century, spent at a rapid clip that outpaced their incomes.
Stock Futures Point to a Rebound
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LONDON (AP) _ U.S. stock market futures Wednesday were pointing to a bounce after last session's drubbing inspired by Google and housing data. But a critical study of a Pfizer Inc. drug may provide a damper to those recovery prospects.
Paint Makers Won't Face Punitive Damages
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PROVIDENCE, R.I. (AP) _ Three paint manufacturers found liable for creating a public nuisance in Rhode Island won't face punitive damages because they stopped making lead pigment years ago, a judge ruled.
Oil Prices Rise Ahead of Inventory Data
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SINGAPORE (AP) _ Oil futures prices rose Wednesday ahead of weekly inventory data from the United States expected to show that stockpiles of gasoline and distillate fuels declined.
Revlon Says 4Q Profit Up 39 Percent
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NEW YORK (AP) _ Cosmetics company Revlon Inc. said Wednesday that its fourth-quarter profit rose 39 percent driven by robust North American sales.
Paid College Consultants Help Kids Get In
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WASHINGTON (AP) _ As high school seniors across the country wait anxiously for the responses to their college applications, some can take comfort in knowing they sent out the best money can buy.
Chief Executive of Japan Airlines to Quit
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TOKYO (AP) _ The chief executive of troubled Japan Airlines Corp. will step down, the nation's biggest carrier said Wednesday, amid growing financial woes and a spate of embarrassing safety lapses.
Growth Concerns Push Down Google Stock
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SAN FRANCISCO (AP) _ Google Inc.'s shares plummeted by as much as 13 percent Tuesday after the company's chief financial officer raised the specter of slower earnings growth _ a remark that soured recent investor enthusiasm that had been building for the Internet's leading search engine.
Pilgrim's Pride Withdraws Guidance for 2Q
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PITTSBURG, Texas (AP) _ Pilgrim's Pride Corp., the nation's second-largest poultry producer, said Wednesday it is withdrawing its previously issued guidance for the second quarter and fiscal 2006, citing depressed prices for some chicken exports amid worries about avian influenza.
Vivendi Posts Drop in 4Q, Full-Year Profit
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PARIS (AP) _ Media and telecom company Vivendi Universal reported a drop in fourth-quarter and full-year earnings Wednesday because of one-time gains a year earlier, but saw solid performances from its Maroc Telecom subsidiary and at its video games and music divisions.