company news

There was plenty of market news last week to stare blankly at, or scrunch up one's nose in disbelief at the sound of. Among the offending stories: HP's abrupt about-face on the TouchPad tablet; an unannounced rate hike from Redbox in Austin; wishful thinking from GameStop's CEO; and, of course, Google's acquisition of Motorola Mobility.

The TJX Companies (TJX) reported earnings of 92 cents per share for the quarter ended Oct. 30, up from 81 cents per share a year earlier. Net sales rose 5% to $5.5. billion, the discount retailer said in a statement. Sales at stores open at least one year rose 1%. "I am very pleased with our...

Saks Inc. (SKS) reported earnings of 20 cents per share for the third quarter, compared with 4 cents per share a year earlier. The results for the third quarter included a gain of 14 cents per share related to the reversal of certain estimated income tax reserves deemed no long necessary. Without...

Gregory B. Maffei, boss of Liberty Media Corp. (LINTA), topped The Wall Street Journal list of best-paid CEOs, taking home $87.1 million. Maffei's compensation was four times larger than his 2008 package. Larry Ellison, founder of Oracle Corp. (ORCL), came in second, with a pay packet of $68.6...

UPS (UPS), the world's largest package delivery company said Monday that it will raise rates by 4.9% for UPS ground packages in 2011. The company will also raise rates by 4.9% for all air express and U.S. origin international shipments, the company said in a statement. Sponsored Links The new...

Verizon Communications (VZ) reported earnings of 31 cents per share for the third quarter, compared with 41 cents per share last year. The third-quarter earnings included non-operational charges of 25 cents per share, the largest of which was related to pension settlements Operating revenues...

Reported theft of information and electronic data is now a bigger crime problem than physical property losses, according to a poll by security consultancy Kroll. More than 27% of 801 companies surveyed reported some kind of data loss, while the portion reporting physical theft fell slightly from...

Royal Philips Electronics NV (PHG) reported third quarter earnings of 524 million euros ($728 million), or 55 euro cents per share, up from 174 million euros a year earlier. Profit rose on lower costs and a gain of 154 million euros from the sale of the company's stake in NXP Semiconductors,...

Novartis (NVS) agreed to sell the U.S. rights to bladder medicine Enablex for $400 million. Ireland-based Warner Chilcott will take over the marketing, sales and manufacturing of the drug in the United States, Novartis said in a statement. The deal is expected to close by the end of October....

Darden Restaurants (DRI), owner of brands including Olive Garden and Red Lobster, reported quarterly net earnings from continuing operations of 80 cents per share, up from 67 cents per share a year earlier. Sales from continuing operations were $1.81 billion in the quarter ended Aug. 29, up 4.2%...