John Wallace

Walgreen February sales hit by Express Scripts exit

2012-03-05T14:42:18Z

(Reuters) - Walgreen Co suffered a bit in February, with comparable sales down 4.6 percent in the second month that the largest U.S. drugstore chain did not fill prescriptions for patients in the Express Scripts Inc pharmacy benefits network.

JPMorgan says may face SEC action on mortgage bonds

2012-02-29T17:02:08Z

(Reuters) - JPMorgan Chase & Co said it may face federal enforcement actions stemming from two investigations into mortgage-backed securities that went bad in the financial crisis.

Costco profit beats; cheap gasoline lures shoppers

2012-02-29T08:34:41Z

(Reuters) - Costco Wholesale Corp posted a bigger-than-expected increase in quarterly profit as the warehouse club's discounted gasoline prices lured shoppers to its service stations and stores.

Brazil judge blocks Chevron, Transocean injunction

2012-02-28T23:50:56Z

RIO DE JANEIRO (Reuters) - A federal judge in Brazil declined to grant an injunction suspending the Brazilian operations of oil major Chevron and offshore oil-rig contractor Transocean over a November oil spill in the Frade field northeast of Rio de Janeiro.

FDA adding diabetes, memory loss warnings to statins

2012-02-28T18:46:50Z

(Reuters) - U.S. health regulators will add warnings to the labels of widely used cholesterol lowering drugs, such as Lipitor, saying they may raise levels of blood sugar and could cause memory loss.

FDA adds diabetes, memory loss warnings to statins

2012-02-28T18:46:50Z

(Reuters) - U.S. health regulators will add warnings to the labels of widely used cholesterol lowering drugs, such as Lipitor, to indicate that they may raise levels of blood sugar and could cause memory loss.

FDA adds diabetes, memory loss warnings to statins

2012-02-28T18:46:50Z

U.S. bank industry in position to lend more: FDIC

2012-02-28T15:25:09Z

WASHINGTON (Reuters) - The U.S. banking industry continues to recover from the economic downturn and the 2007-2009 financial crisis, with profits rising over the past year, but the improvement can only continue if lending picks up, the Federal Deposit Insurance Corp said.

Boeing names new head of 787 program

2012-02-24T19:21:35Z

(Reuters) - Boeing Co said it swapped the heads of its 787 Dreamliner and 777 programs, tapping the skills of the long-time 777 leader to ensure the delayed Dreamliner program hits a production rate target that many experts believe is unrealistic.

Express Scripts says moving on without Walgreen

2012-02-23T16:35:23Z

(Reuters) - Express Scripts Inc said on Thursday it was moving forward successfully without Walgreen Co in its pharmacy network, citing wide support from clients.

SAC's Cohen buys small stake in New York Mets

2012-02-23T15:10:56Z

BOSTON (Reuters) - When hedge fund titan Steven A. Cohen next roots for his hometown New York Mets baseball team, he will have skin in the game as one of the team's newly minted minority owners.

Sears plans rights offering; shares jump 10 percent

2012-02-23T13:13:09Z

(Reuters) - Sears Holdings Corp announced steps to reassure investors about its ability to pay down debt, sending its shares up 10 percent in premarket trade.

Sears quells fears about liquidity; shares soar

2012-02-23T13:13:09Z

(Reuters) - Sears Holdings Corp announced steps to reassure investors about its ability to pay down debt, sending its shares soaring 16 percent in early trading.

Sears quells liquidity, not retail, fears

2012-02-23T13:13:09Z

(Reuters) - Sears Holdings Corp plans to raise about $770 million spinning off a business of about 1,250 stores and selling some prime real estate, hoping to convince Wall Street that the struggling chain has enough assets to tap to pay down debt.

Target profit beats, Kohl's forecast disappoints

2012-02-23T13:03:21Z

(Reuters) - Target Corp posted a higher-than-expected quarterly profit despite a holiday season marked by heavy discounting, while Kohl's Corp , hit by shoppers' resistance to higher prices, issued a 2012 profit that missed Wall Street forecasts.

Rise in identity fraud tied to smartphone use

2012-02-22T14:45:31Z

(Reuters) - Nearly 12 million Americans were victims of identity theft in 2011, an increase of 13 percent over 2010, according to a report released on Wednesday by the research firm Javelin Strategy & Research.

American Airlines aims to bolster routes, fleet

2012-02-21T19:54:42Z

(Reuters) - Bankrupt American Airlines aims to boost revenue by $1 billion annually by beefing up its international routes and fleet to lure more well-heeled business travelers, the company said on Tuesday.

Supreme Court won't review J&J-Abbott patent case

2012-02-21T15:50:38Z

WASHINGTON (Reuters) - The Supreme Court on Tuesday declined to review a ruling that Abbott Laboratories' Humira arthritis drug did not infringe a patent owned by a Johnson & Johnson subsidiary and that threw out a $1.67 billion damage award against Abbott.

Lehman creditors push for testimony from Geithner

2012-02-17T19:59:04Z

(Reuters) - A committee of Lehman Brothers creditors is seeking to force U.S. Treasury Secretary Timothy Geithner to testify in connection with an $8.6 billion dispute between Lehman and JPMorgan Chase & Co, Lehman's banker before its collapse.

GM reports weaker-than-expected profit

2012-02-16T12:50:58Z

DETROIT (Reuters) - General Motors Co posted a weaker-than-expected fourth-quarter profit as disappointing performance overseas offset strong results in North America, sending its shares down 3.1 percent in premarket trading.