Unisys sees swing to pre-tax profit
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at MarketWatch
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6 minutes ago
Information technology provider Unisys Corp. said Monday that it expects to swing to a pre-tax profit in the second quarter, though demand for its services continues to be weak. Unisys said it expects to report a profit before tax in the range of $30 million to $55 million.
Crude falls below $60 a barrel, reversing course
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at MarketWatch
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7 minutes ago
Oil futures fell below $60 a barrel on Monday in volatile trading, adding to last week's steep losses. Crude for August delivery dropped 43 cents, or 0.7%, to $59.46 a barrel in electronic trading on Globex.
Geithner: Watching CIT developments closely
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at MarketWatch
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17 minutes ago
Developments regarding troubled lender CIT Group are being watched closely, U.S. Treasury Secretary Timothy Geithner said Monday in London, according to news reports. The Wall Street Journal reported over the weekend that CIT had retained counsel to prepare for a possible reorganization in bankruptcy court.
Average U.S. retail gasoline prices drop
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at MarketWatch
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21 minutes ago
Average U.S. retail regular gasoline prices fell to $2.53 a gallon on Monday, down a penny from the previous day, according to the AAA Daily Fuel Gauge Report. A week ago, gasoline sold for $2.61 a gallon.
Mechel refinances $2.6 billion in credit
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at MarketWatch
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22 minutes ago
Russian mining company Mechel said Monday that it has agreed to refinance its short-term credit facilities totaling $2.6 billion raised to purchase assets in Yakutia and London-based miner Oriel Resources Ltd.
Treasurys edge down, eyeing stocks
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at MarketWatch
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35 minutes ago
Treasury prices declined early Monday, nudging yields up, as a lack of economic data or auctions on the schedule left traders eyeing equities and speculating on the strength of corporate earnings this week.
Gold slightly higher as dollar falls vs. euro
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at MarketWatch
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1 hour, 3 minutes ago
Gold futures rose slightly Monday, rebounding from last week's loss as the U.S. dollar fell against the euro, raising the metal's investment appeal. August gold rose 50 cents, or 0.1%, to $913 an ounce in early North American electronic trading.
Fastenal earnings per share drop to 29 cents
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at MarketWatch
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1 hour, 9 minutes ago
The Fastenal Co. said Monday that second-quarter earnings fell to $44 million, or 29 cents a share, compared to $76 million, or 51 cents a share, in the same period a year ago. Sales fell 21% to $475 million from $604 million.
ECB's Trichet: Banks have responsibility to lend
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at MarketWatch
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1 hour, 18 minutes ago
European Central Bank President Jean-Claude Trichet on Monday said it may take time for lending to pick up in the wake of the central bank's efforts to expand liquidity, but reminded banks of the need to maintain credit flows to households and businesses.
J.P. Morgan Chase upgrades Rockwell Automation
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at MarketWatch
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1 hour, 57 minutes ago
J.P. Morgan Chase on Monday upgraded shares of Rockwell Automation to overweight from neutral. Analysts lifted their price target on the stock to $35 a share from $29 a share. "While we may be early, bearish Street sentiment and an end to the negative earnings revision cycle in coming months should limit downside, while we see the potential for material longer-term upside," analysts said.
E.U. proposes tougher bank capital requirements
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at MarketWatch
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2 hours, 6 minutes ago
The European Commission on Monday proposed new rules that would force banks to hold more capital as a buffer against risks posed by complex financial instruments. The proposed regulatory changes also take aim at "perverse pay incentives" that encourage excessive risk-taking by financial institutions, said the commission, which is the executive body of the European Union, in a news release.
BP reaches exploration pact with Azerbaijan
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at MarketWatch
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2 hours, 12 minutes ago
BP said it's signed a memorandum of understanding with the State Oil Company of the Republic of Azerbaijan to jointly explore and develop the Shafag and Asiman structures in the Azerbaijan sector of the Caspian Sea.