Month: November 2011

AT&T ( T ) is set to tap the 4G smartphone market with its launch of HTC Vivid and Samsung Galaxy S II Skyrocket on November 6. Since its biggest rival, Verizon ( VZ ), entered the 4G market, the company was gearing up to make its much awaited foray in this segment. The two dual-core Android-based smartphones are designed to offer improved accessibility to users as they remain the only smartphone using the high frequency Long-Term Evolution (LTE) and High-Speed Packet Access Plus (HSPA+) technology for faster connection within or outside LTE wireless networks. […]

California’s largest regulated electric and gas utility, PG&E Corporation ’s ( PCG ) operating earning per share of $1.08 in the third quarter of 2011 beat the Zacks Consensus Estimate of $1.06. Results also comfortably surpassed the year-ago number of $1.02. The upsurge in earnings year over year came from higher rates (10 cents) and miscellaneous items (3 cents). […]

Premier natural gas company Spectra Energy Corp. ( SE ) reported better-than-expected third-quarter 2011 results owing to expansion projects that led to higher commodity prices along with a stronger Canadian dollar. […]

AXIS Capital Holdings Limited ( AXS ) reported third-quarter operating earnings of 74 cents per share, lagging the Zacks Consensus Estimate by 2 cents. Results also compared unfavorably with $1.41 earned in the prior-year period. Operating income was $95 million in the quarter, plummeting 49.7% from $189 million in third quarter 2010 […]

Harmony Gold Mining Co. Ltd . ( HMY ) recorded net profit of 16 cents per share in the first quarter of 2012 versus last quarter’s loss of 1 cent per share and year-ago quarters profit of 3 cents. […]

CIT Group Inc. ( CIT ) re-initiated its commercial real estate (CRE) lending business with the launch of CIT Real Estate Finance on Wednesday. The new business will originate and underwrite senior secured real estate transactions in the Boston, New York City and Washington, D.C […]

William A. Ackman, the founder and CEO of hedge fund Pershing Square Capital Management, L.P., has acquired a 12.2% stake in Canadian Pacific Railway Limited ( CP ). The acquisition involves the purchase of approximately 20.6 million shares, through terms of the agreement remain undisclosed. […]

Yesterday, Wells Fargo & Company ( WFC ) announced the acquisition of a loan portfolio with a face value of $3.3 billion from Irish Bank Resolution Corporation (IBRC), previously known as Anglo Irish Bank. The portfolio comprised 61 performing U.S.-based commercial real estate loans. Last week, out of the total 61 loans, WFC closed 25 worth $1.5 billion […]