President Barack Obama is asking Congress for a short-term deficit reduction package of spending cuts and tax revenue that will delay the effective date of steeper automatic cuts now scheduled to kick in on March 1. Obama said the looming sequestration cuts would be economically damaging.
Sirius XM's first quarter results were strong, with total subscribers up 9% from a year ago to a new high of 20.6 million and adjusted EBITDA of $181 million, up 15% year-over-year. But what should most interest investors are the moves it's making to amplify its growth in the years ahead.
Shutterfly completed its $333 million acquisition of Tiny Prints in April, just the latest in a series of purchases and partnership deals designed to position it for growth in a crowded business. Trefis's view of the company is that Shutterfly is on track to profit more than the market expects.
Lotteries are big businesses in most states, and they can provide windfalls for both the winning ticket-holders and state coffers. But which states give the most back to ticket-holders and through government services?
When companies use the word "immaterial" to describe errors or irregularities in their previously reported numbers, what they're trying to say is that their mistakes involved such small amounts that they don't really matter. Too often, though, that's not really the case.
Moody's is reviewing 10 large regional banks for possible downgrades because it thinks financial reform means total government support is now less likely. That's setting off a debate about whether those banks will actually take a hit to profitability.
Increased consumer spending helped boost second quarter earnings for credit card giant American Express Thursday, which reported a $1 billion profit, nearly tripling the $337 million it reported for the a year ago quarter.
