Retail giants Wal-Mart and Target beat earnings estimates
Wal-Mart Stores Inc and Target Corp posted double digit first quarter profit gains. Wal-Mart earned 50 cents per share, up from 41 cents a year earlier, while Target reported 48 cents per share, up from 38 cents. Strong early year sales offset a late month slowdown.
MENTIONED IN THIS ARTICLE
Wal-Mart Stores Inc
Target Corp
Wall Street
Wal-Mart
Target
Pfizer to pay 430 million to settle fraud charges
Pfizer Inc agreed to pay 430 million in fines and plead guilty to promoting Neurontin for nonapproved uses. Warner-Lambert admitted spending hundreds of thousands to market the anti seizure drug for pain headaches and psychiatric illnesses.
MENTIONED IN THIS ARTICLE
Pfizer Inc
Justice Department
Warner-Lambert
Former Rite Aid CEO Gras s Reaches New Plea Deal
Former Rite Aid CEO Martin L Grass, 50, agreed Thursday to a plea deal linking him to a billion-dollar accounting fraud. He faces up to 10 years in prison for conspiring to defraud and obstruct justice after pleading guilty days before a planned trial. Grass, son of the founder, resigned in 1999 and admitted concealing a $2.6 million real estate deal from the company and regulators.
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Rite Aid
Martin L. Grass
Grass
Payless ShoeSource earnings beat estimates in latest quarter
Topeka based Payless ShoeSource reported earnings of 13.8 million or 20 cents a share on revenue of 722 million for the quarter ended May 1, beating Wall Street expectations by 1 cent. Same store sales rose 2.6 percent from a year earlier.
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Payless ShoeSource Inc
Wall Street
Thomson First Call
Inflation climbs as April PPI meets energy and food costs
Washington AP reports April producer prices rose 0.7 percent led by energy and food. Gasoline up 3.4 percent and dairy products spiked 10.4 percent, the largest dairy move since July 1946. Core inflation up 0.2 percent. Officials caution about a cloudy inflation outlook.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Stuart Hoffman
PNC
Ysal
Kansas leaders address growth at inaugural Leadership Summit
Lawrence hosts the inaugural Leadership Kansas Summit with over 200 alumni and participants. Gov Kathleen Sebelius, Insurance Commissioner Sandy Praeger and Senate President Dave Kerr spoke as education, business climate and health insurance were emphasized. Leader ship Kansas began in 1979 and aims to connect diverse leaders for better community impact.
MENTIONED IN THIS ARTICLE
Coleen Mullen
Cox Communications Inc
Topeka
Lisa Stubbs
Stubbs
Kansas
Leadership Kansas
Lawrence
Lawrence Arts Center
Kathleen Sebelius
Sandy Praeger
Senate
Dave Kerr
News Center
John Federico
Federico
Alan Fankhauser
Garden City
Robert Bennett
Mem
30 year mortgage rates rise to an 8 month high
The Hartford Courant reports 30 year fixed rate mortgages climbed to 6.34 percent this week from 6.12 percent, the highest in eight months, with Freddie Mac forecasting an average near 6.1 percent for the year. Long term rates follow 10 year Treasuries, with Fed moves likely already priced in.
MENTIONED IN THIS ARTICLE
Freddie Mac
Hartford
Conn
Federal Reserve
Fed
Treasury
Amy Crews Cutts
Grain and cattle futures dip while soybeans rise on CBOT and CME
Grain prices fell on the Chicago Board of Trade with July wheat at 3.69 and July corn at 2.95 per bushel, while July soybeans gained 10.25 cents to around 9.29 a bushel. Cattle futures slipped and pork futures rose on the CME as local elevator quotes mixed with more commodity data from Ottawa Edgerton and Lawrence yards. Nonferrous metal prices in New York and London showed varied movements with lead, gold, silver, and platinum quoted for spot or contract trading.
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Chicago Board of Trade
Chicago Mercantile Exchange
Ottawa Cooperative Assn
Ottawa
Milo
Edgerton
Overbrook
Midland
Lawrence North
Lawrence South
New York
London
N.Y
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Kenneth R. Gossel
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