Michael Smith
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Kraft Foods Announces Leadership Changes, Seeks Shift In Branding Strategy
Kraft Foods announced on Thursday that Chief Financial Officer Teri List-Stoll will leave her position on Feb. 28, along with the departure of two other senior executives, Reuters reports.
Kellogg Reports $293 Million Fourth-Quarter Losses
The Kellogg Company on Thursday reported that it lost $293 million (82 cents per share) in the fourth quarter of fiscal year 2014, the New York Times reports.
CBS Reports Highest Fourth-Quarter Revenue
CBS announced on Thursday that it earned 79 cents per share on $3.68 billion revenue, making it the highest fourth-quarter revenue and diluted earnings per share in the company's history, according to the Hollywood Reporter.
Expedia To Purchase Orbitz For $1.33 Billion Amidst Anti-Trust Concerns
Expedia Inc., one of three of the largest online travel companies, announced on Thursday that it will purchase rival Orbitz Worldwide Inc. for approximately $1.33 billion, Reuters reports.
Volkswagen, PG&E Finance Electric Vehicle Infrastructure Projects In The United States
California-based Pacific Gas & Electric Co. (PG&E) and Volkswagen of America have both announced plans to develop electric vehicle infrastructure projects in the United States.
Yelp Endeavors Into Food Delivery Business By Purchasing Eat24 Mobile Application
Yelp has purchased the food delivery mobile application Eat24 for $134 million, initiating its venture into the ordering business, currently dominated by groups like Delivery and GrubHub.
Halliburton Announces Plans To Cut Eight Percent Of Global Workforce
Halliburton Co. has announced that it is planning on cutting up to eight percent of its global workforce, affecting as many as 6,400 workers.
Coca-Cola's Sales In North America Are Rising, Shifting The Company's Focus Toward A Domestic Market
Sales for Coca-Cola Co. in North America rose two percent in the fourth quarter of financial year 2014, marking the company's largest domestic gain in two years, Bloomberg Business reports.
McDonald's Reports Worldwide Sales Drop For January
McDonald's reported on Monday that its worldwide sales have dropped for the month of January, mentioning that transactions at locations open at least 13 months fell 1.8 percent, Fortune reports.
Qualcomm To Pay $975 Million For Violating Anti-Monopoly Laws In China
Qualcomm announced on Monday that it will pay $795 million for violating one of China's anti-monopoly laws, adding that it will begin offering discounts for for third-and fourth-generation communications systems in the country, the New York Times reports.
Michael Kors Expects Lower Profits For Current Quarter As Same-Store Sales Drop
New York City-based luxury accessories retailer Michael Kors has announced that it expects lower profits for the current financial quarter than originally expected, given a recent drop in same-store sales across North America.
Anthem Health Insurance Security Breach Affects Millions Of Customers
Managed healthcare company Anthem has announced that hackers have attacked the company's computer system, compromising the personal information of millions of customers around the country.
RadioShack Slated For Bankruptcy Following New York Stock Exchange Suspension
RadioShack is said to be heading for possible bankruptcy following its recent suspension from the New York Stock Exchange.
Staples Will Purchase Office Depot For An Equity Value Of Approximately $6.3 Billion
Staples Inc. will purchase Office Depot Inc. for an equity value of approximately $6.3 billion ($11 per share), reducing the country's office supply industry to a single major chain.
Exxon Mobil Stocks Expected To Decrease In 2015
Exxon Mobil's stocks are expected to decrease for financial year 2015, CNBC analyst Jim Cramer revealed during a recent interview featured on the channel's "Squawk On The Street" program.