Sony Stays in the Red, Trims Annual Loss Forecast Oct 30, 2009
But Sony acknowledged its liquid crystal display TVs and game machine computer chip businesses continued to be hurt by intensifying price competition. Even the perk Sony got from nostalgic demand for Jackson albums following his death in June wasn't enough to offset the losses in its other divisions. (ABC News -- Business)
Google must stop snooping on us Oct 30, 2009
In its legal battles over trademarks, in which it has mostly prevailed, it remains the consumer s friend, and the promoter of price competition. In its dispute with the publishers over scanning copyrighted books, Google may have behaved clumsily, but only the paranoid believe it is on a mission to destroy the very notion of copyright. (Yahoo News -- Online Privacy)
Fujitsu Reports Fiscal 2009 Second-Quarter Financial Results; Profitability Improves Dramatically from First Quarter Oct 28, 2009
Although mobile phone sales in Japan increased, intensified price competition and weaker corporate demand led to a decline in PC sales worldwide. HDD sales also declined worldwide. (JCN Network, Japan)
Rockefeller Lambasts Idea of Trigger for Public Option Oct 24, 2009
A trigger simply delays price competition, which in turn will delay affordability for consumers and moves us farther away from the goals of health care reform. Already, we are seeing insurance companies threatening to game the system, by raising their prices in advance of reform. (Roll Call)
Trade association asks for probe of book price war Oct 24, 2009
Some smaller stores, however, have said that they're not concerned about the price competition. They say it affects the most commercial books, which are less vital to independent stores than they are to discount clubs and superstore chains. (Honolulu Advertiser)
Analysts: YRC sector is 18% over capacity Oct 23, 2009
Overcapacity in the less-than-truckload (LTL) sector, which hauls consolidated small shipments, means fierce price competition and probably lackluster third-quarter earnings, St. Louis-based said in a note Tuesday ... YRC continues to lose market share and sales employees, but the company still is operating, keeping price competition strong and margins low, the Stifel note said ... All the price competition is good news for shippers for now. (St. Louis Business Journal, MO)
Ericsson Profit Slumps 71%, More Than Estimated, as Clients Slash Spending Oct 22, 2009
At first glance, the top line looks weak, said , an Oslo-based analyst with DnB NOR. Theres fierce price competition from companies like Huawei and we may see some of that coming through in Ericssons numbers. . (Bloomberg -- Europe)
Earnings Roundup: Supervalu, Western Union Oct 21, 2009
MONTVALE, N.J. (AP) Supermarkets operator Great Atlantic ic Tea Co. posted a wider second-quarter loss, citing rising unemployment and price competition, and said its chief executive, Eric Claus, is leaving the company. ATLANTA (AP) Invesco Ltd. said its third-quarter profit fell 20 percent as revenue declined in results announced after the investment manager said it is acquiring Morgan Stanley's retail asset management business, including Van Kampen Investments. (ABC News -- Wire)
Applied Industrial 1Q Income Cut in Half Oct 21, 2009
The company said profit margins declined slightly due to heightened price competition, but that it managed inventory well during the period. "We expect that our sales volume will continue close to its current rate, at least through our second quarter," said Chairman and CEO David Pugh, in a statement. (ABC News -- Wire)
Homeowners Deserve a Truly Comprehensive Insurance Policy Oct 17, 2009
Greater price competition because insurers price their enhanced policies in the marketplace. Creative federal-state regulatory coordination because state insurance regulators assure consumer protections, while the federal government provides national regulatory oversight and flood reinsurance. (Roll Call)
Kroger CEO undaunted by competition, trade downs Oct 12, 2009
analyst Mark Wiltamuth cited heightened price competition in downgrading Kroger from overweight to equal-weight. With all the major grocers cutting prices at once, it will take longer for the cycle to turn around, he said. (Cincinnati Business Courier, OH)
Triads inventory of unsold homes better, not great Oct 3, 2009
A large supply of existing homes which includes often-discounted foreclosed homes now on the market not only makes it harder for potential new home buyers to sell their house, but they also provide more choice and price competition for builders, said Jeff Guernier, division president of in Greensboro. But perhaps the bigger challenge is the stagnant economy and unemployment. (Business Journal of the Greater Triad Area)
Berkshire's Montross Says in Ottawa He Expects Bermuda Reinsurer Deals Oct 2, 2009
The company scaled back coverage of the largest commercial properties against hurricanes and other catastrophes earlier this year amid price competition. Montross was named the leader of General Re last year, replacing , who was once considered by analysts to be a potential successor to Buffett. (Bloomberg -- Canada)
Japanese deflation worst on record Sep 30, 2009
Higher commodity costs and fierce price competition in the shops are making life tough for Japanese companies, many of which took a severe beating from the global economic downturn. The risk is that the weak corporate sales will cause the jobless rate to rise even higher as firms shed workers, resulting in a vicious circle of lower consumer spending squeezing company earnings, analysts said. (Business Report, South Africa)
Hong Kong Investors Can't Buy Enough Homes at Prices Before Lehman Bust Sep 25, 2009
The , the de facto central bank, warned lenders this month that their intense price competition on home loans wasnt sustainable. Financial services in Hong Kong suffered fewer job losses than in New York or London. (Bloomberg -- UK)
Nintendo cuts price of Wii for first time Sep 25, 2009
TOKYO, Japan -- Nintendo on Thursday announced the first price cut for its Wii games console following declining sales and price competition from Microsoft and Sony. Nintendo is launching Wii Fit Plus, a follow up to the game that uses its balance board accessory, on October 4. (CNN -- Tech)
How to analyse an annual report Sep 23, 2009
A company with revenue of RM1bil and profits of RM10mil is more likely to face tougher challenges in a stiff price competition environment compared with a company with revenue of RM100mil and profits of RM10mil. Balance sheet is the financial statement that shows a companys assets, liabilities and owners equity at a point in time. (The Star Online, Malaysia -- Business)
Federal Signal Appoints Leo T. Mahon Vice President of Strategy, Business Development and Investor Relations Sep 23, 2009
Such risks and uncertainties include but are not limited to: economic conditions in various regions, product and price competition, supplier and raw material prices, foreign currency exchange rate changes, interest rate changes, increased legal expenses and litigation results, legal and regulatory developments and other risks and uncertainties described in filings with the Securities and Exchange Commission. SOURCE Federal Signal Corporation. (PR Newswire)
Shareholder Class Action Filed Against Immucor, Inc. by the Law Firm of Barroway Topaz Kessler Meltzer & Check, LLP Sep 23, 2009
The DOJ investigation of Immucor follows a Federal Trade Commission ("FTC") investigation of the Company that began in or about October 2007 and which focused on whether Immucor violated the federal antitrust laws through three acquisitions that it made between 1996 and 1999, and whether the Company had engaged in unfair methods of competition by restricting price competition. Upon the release of the news that the DOJ was investigating Immucor and the blood reagents industry, and that Immucor... (PR Newswire)
Write Your Own Health Reform Bill! Sep 22, 2009
They "function just like private health insurance companies," Rockefeller continues, and therefore wouldn't likely create much in the way of price competition for private for-profit insurers. Schumer and Cantwell have an amendment (261) to create the same public option described in the Senate health committee bill. (Slate)
* FEATURE : Franz CEO aims to bring human touch to business Sep 21, 2009
The figures constitute a tiny segment of the global gift market, Chen said, comparing the industry to a blue ocean that promises ample opportunity for growth driven by value innovation, instead of conventional price competition. The gift market in the US was valued at US$200 billion in 2003 alone, Chen said. (Taipei Times, Taiwan -- World Business)
* DOJ requests changes to Google book settlement Sep 20, 2009
First, through collective action, the Proposed Settlement appears to give book publishers the power to restrict price competition. . (Taipei Times, Taiwan -- World Business)
DOJ: Court should reject Google book search settlement Sep 20, 2009
For starters, it seems to the DOJ that the agreement gives book publishers power to restrict price competition. The DOJ is also worried the agreement could shut out other digital distributors from competing with Google. (San Francisco Chronicle -- Technology)
US objects to Google book deal Sep 20, 2009
It also seemed to give publishers the power to restrict price competition and drive other digital distributors from the market, it said. The court "should reject the proposed settlement in its current form and encourage the parties to continue negotiations to modify it", the department said in its submission. (BBC News -- Americas)
Plug Power Receives NASDAQ Notice Regarding Non-Compliance With Minimum Bid Price Rule Sep 19, 2009
However, there may be events in the future that we are not able to accurately predict or control and that may cause our actual results to differ materially from the expectations we describe in our forward-looking statements, including, without limitation, the risk that unit orders will not ship, be installed and/or convert to revenue, in whole or in part; Plug Power's ability to develop commercially viable energy products; the cost and timing of developing Plug Power's energy products; market... (Primezone Releases)
FHA faces cash squeeze, commissioner says Sep 19, 2009
Independent mortgage bankers are important to help provide price competition, said Josh Denney, a lobbyist for the trade group. We want to preserve them in the mortgage market. (MSNBC -- Business)
Hong Kong Banks Threatened by Battle for Mortgage Market Share, HKMA Warns Sep 18, 2009
Sept. 18 (Bloomberg) -- Hong Kongs central bank warned lenders in the city that their intense price competition on mortgages isnt sustainable and may erode industry profit margins and increase risks. Banks have cut home loan rates to such an extent that they might not have given due regard to the reputation risk, interest rate risk and liquidity risk potentially associated with their pricing, Deputy Chief Executive Y.K. Choi said in a letter to the Hong Kong Association of... (Bloomberg -- Asia)
Sprint Soars 10% On New Buyout Rumors Sep 16, 2009
Sprint Nextel on Tuesday said it will buy Virgin Mobile USA, making it the nation's No. 2 seller of prepaid cell phone services a field where subscriber growth has been healthy but price competition has intensified ... NEW YORK Tracfone Wireless, the country's largest provider of prepaid cell phones, is quietly testing a new service that appears to be a response to the fierce price competition in the prepaid market. (Investors Business Daily)
Chartwell Announces Financial Results for the Three and Nine Months Ended July 31, 2009 Sep 15, 2009
Our actual results could differ materially from those anticipated in these forward-looking statements as a result of factors that may include, but are not limited to: the continuing financial market uncertainty, the impact of government regulation and laws affecting international operations, the impact of price competition, loss of business or credit risks associated with current and prospective major customers, general industry and market conditions and growth rates, currency rate fluctuations,... (CCNMatthews Press Releases)
A must for health care reform: End fee-for-service medicine Sep 11, 2009
Furthermore, the notion that competition for price on insurance can hold down costs of care ignores a basic law of economics: Price competition is effective when the competition is applied at the time and place where the decisions get made. When each of us chooses our insurance (or when our employer does it for us), we know little about the decisions to be made over the next year. (Christian Science Monitor)
Cree Prices Common Stock Offering Sep 11, 2009
Actual results, including with respect to our targets and prospects, could differ materially due to a number of factors, including current uncertainty in global economic conditions that could negatively affect product demand, collectability of receivables and other related matters as consumers and businesses may defer purchases or payments, or default on payments, in response to tighter credit and negative financial news; our ability to complete development and commercialization of products... (Primezone Releases)
Steel Dynamics Updates Third Quarter Earnings Guidance Sep 11, 2009
With our long-products divisions modestly profitable at very low utilization rates, any improvement in volumes can have a very positive impact," Busse said. Forward-Looking Statements This press release contains some statements that express the company's opinions, expectations or projections regarding future events or future results, in contrast with statements that reflect historical facts. These predictive statements, which are generally preceded or accompanied by such conditional words as... (PR Newswire)
Letters to the editor, Sept. 3 edition Sep 9, 2009
If you hear that a government product is required to foster price competition, I beg you to question it. If anyone directly proposes to give resources to someone less privileged, I will always listen. (Acton Beacon, MA)
China toy and game suppliers continue to target the U.S. and EU, despite stricter standards and the economic crisis Sep 7, 2009
47 percent cited stricter overseas compliance standards; * 19 percent said price competition; and * 19 percent cited the cost of raw materials. Fifty-one percent of manufacturers interviewed for the report said the E.U. is expected to be their main market in the next 12 months, while 29 percent plan to boost shipments to the U.S.. (PR Newswire)
Munich Re, Swiss Re May Struggle to Raise Rates Amid Mild Hurricane Season Sep 7, 2009
Moodys Investors Service today lowered its outlook for the global reinsurance industry to negative from stable because the state of capital markets may make it difficult for companies to replenish funds, particularly when signs point to greater price competition in 2010. . (Bloomberg)
Dell's Profits Dive, Stock Climbs Aug 28, 2009
But it reported better-than-expected fiscal second-quarter earnings Aug. 27 as the company made headway into profitable server and storage markets, even as the PC business suffers from bruising price competition. Investors bid up Dell () shares after the computer maker reported stronger profit margins, and a mistaken early release of the results led to a wave of buying by Dell investors. (BusinessWeek)
Telcos major contracts expenditure to exceed RM5.6bil Aug 28, 2009
Globally, the equipment industry has been hurt by falling demand and intensifying price competition. A London-based analyst at Credit Suisse Group AG in a report said Huawei, aided by its lower cost base, now ranked third in the industry with a global market share of 14%, behind Ericsson 35% and Nokia Siemens 20. (The Star Online, Malaysia -- Business)
Warring retailers see room for home improvement Aug 26, 2009
Hardware is a large and growing market, but price competition will take its toll on all the operators - leaving the consumer the ultimate winner. Join the conversation. (Sydney Morning Herald -- Business)
* Cars from China will not boost local market: report Aug 25, 2009
This had led to rising price competition, which puts more pressure on local automakers profitability and credit profiles, particularly weaker players, which have been likely operating at or near an uneconomic scale since last year and face consolidation threats, Fan wrote. Therefore, plans to manufacture and sell Chinese-designed and branded cars will face a major obstacle in bridging the gap between demand and affordability, given that volatile fuel costs over the past 12 months and declining... (Taipei Times, Taiwan -- Sports)
Google must stop snooping on us Aug 25, 2009
In its legal battles over trademarks, in which it has mostly prevailed, it remains the consumer s friend, and the promoter of price competition. In its dispute with the publishers over scanning copyrighted books, Google may have behaved clumsily, but only the paranoid believe it is on a mission to destroy the very notion of copyright. (Yahoo News -- Online Privacy)
Huawei Sees Gain in European Market Share, `Significant' U.S. Breakthrough Aug 24, 2009
Huaweis gains defy the trend in the telecommunications- equipment industry thats been hurt by falling demand and intensifying price competition. The Chinese companys net income rose 20 percent to $1. (Bloomberg -- Asia)
Wesfarmers shares drop as profit falls short Aug 20, 2009
They have put a lot back into price competition to drive sales growth,'' said Grant Saligari, an analyst at Credit Suisse Group AG in Sydney, who rates the stock ''underperform. The Coles result will disappoint people who expected cutting the head office to flow straight through to the bottom line. (Sydney Morning Herald -- Business)
Suzuki to Sell Hybrid in N. America in '11: Nikkei Aug 16, 2009
The Japanese small car maker has lagged behind Toyota Motor Corp and Honda Motor Co in developing environmentally friendly vehicles, and its entry to the hybrid business is likely to fuel a price competition, the Nikkei said. The hybrid system will be installed in Suzuki's "Kizashi" midsize sedan, a gasoline version of which is slated to hit the North American market in late 2009, the paper said. (ABC News -- Business)
GOV'S LOW-WATT ENERGY PLAN Aug 14, 2009
More supply means more price competition, which means lower prices for consumers and businesses -- attracting more companies and jobs to the region. It would also leave New York less dependent on external sources -- such as New Jersey and Canada -- for power. (New York Post -- Opinions)
Airlines swap assets in New York, Washington, D.C. Aug 13, 2009
Consumers, especially those who travel to or from New York frequently, could benefit from increased price competition, says Bob Harrell of Harrell Associates, who tracks fares. Posted. (USA Today -- Money)
Goldfield Announces Second Quarter 2009 Results Aug 12, 2009
Factors that may affect the results of our electrical construction operations include, among others: the level of construction activities by public utilities; the timing and duration of construction projects for which we are engaged; our ability to estimate accurately with respect to fixed price construction contracts; and heightened competition in the electrical construction field, including intensification of price competition. Factors that may affect the results of our real estate development... (PR Newswire)
Stocks Fall From 10-Month High on Weaker Dollar, Lower Commodities Prices Aug 12, 2009
4 percent after price competition cut its first-quarter profit by 80 percent. The declined 150. (Bloomberg -- Japan)
Toshiba finally adopts Blu-ray Disc standard Aug 11, 2009
Toshiba, whose digital products sector reported a nearly 65 percent fall in profit in the year ending in March, is trying to increase its market share and cut costs as it fights soaring price competition in both personal computers and televisions. (Agencies). (Xinhuanet, China)
Foreign business news in brief Aug 11, 2009
Toshiba, whose digital products segment reported a nearly 65% tumble in profit in the year that ended in March, is trying to raise market share and cut costs as it fights increasing price competition in personal computers and TVs. Reuters. (The Star Online, Malaysia -- Business)
Calfrac Announces Second Quarter Results and Expansion Program Aug 7, 2009
Outlook and Business Prospects ------------------------------------------------------------------------- The global economic recession has lowered the demand for oil and natural gas which has led to a significant decline in drilling activity as well as increased price competition for pressure pumping services in Canada and the United States. North American natural gas prices are anticipated to remain low for the near term. (Canada Newswire)
Lenovo Sales Recover, but Still Under Pressure Aug 7, 2009
Demand for PCs is , and price competition has combined with rising component costs to pressure Lenovo's margins, executives said in a conference call. "The operating environment continues to be challenging for PC makers," said Wong Wai Ming, Lenovo's CFO.. (BusinessWeek)
Phoenix Technologies President and CEO Woody Hobbs Featured in Wall Street Reporter Interview Aug 6, 2009
These statements involve risk and uncertainties, including: demand for our products and services in adverse economic conditions; our dependence on key customers; our ability to enhance existing products and develop and market new products and technologies successfully; our ability to achieve and maintain profitability and positive cash flow from operations; our ability to meet our capital requirements in the future; our ability to attract and retain key personnel; product and price competition... (PR Newswire)
Fujitsu Reports Fiscal 2009 First-Quarter Financial Results; Quarterly loss Posted, Sales and Profit Projections Raised Aug 1, 2009
In the ubiquitous products business, price competition undercut sales of PCs and hard disk drives ... Mobile phone sales in Japan declined, and intensified price competition and weaker corporate demand led to a decline in PC sales worldwide. (JCN Network, Japan)
Sony Is Still Feeling the Recession's Bite Jul 31, 2009
But Chief Financial Officer said the company expected stiff price competition in the electronics industry in the coming months and was sticking with earlier forecasts for an operating loss of $1. 16 billion in the fiscal year through March 2010. (BusinessWeek)
Pro-Union Legislation Still Anti-Business, Sen. DeMint Says, Signaling GOP Fight Jul 29, 2009
Sprint Nextel on Tuesday said it will buy Virgin Mobile USA, making it the nation's No. 2 seller of prepaid cell phone services a field where subscriber growth has been healthy but price competition has intensified. Shares in Sprint (S)rose a fraction Tuesday. (Investors Business Daily)
China drives electricbike boom Jul 28, 2009
With price competition brutal among China's 2,300 electric bike and scooter makers, manufacturers have shied away from embracing costlier, cleaner technology. But bigger foreign sales and demand for better batteries may speed improvements. (MSNBC -- International)
* FEATURE : Singtex redefines the world through textiles Jul 27, 2009
Before 1994, Singtex was just like dozens of other domestic textile contract makers, whose business relied primarily on producing for large US retailers like Wal-Mart Stores Inc and Kmart Corp. Facing cutthroat price competition from India, Chen also went the low-cost route and spent three years in China to replicate his business using cheaper labor there. With other companies facing a similar challenge, Taiwanese textile contract makers relocated en masse to China. (Taipei Times, Taiwan -- World)
READ THE RELEASE: From Ford Jul 24, 2009
-- Continued or worsening financial crisis; -- Further declines in industry sales volume, particularly in the United States or Europe, due to financial crisis, deepening recessions, geo-political events, or other factors; -- Decline in market share; -- Continued or increased price competition resulting from industry overcapacity, currency fluctuations, or other factors; -- A further increase in or acceleration of market shift away from sales of trucks, SUVs, or other more profitable vehicles,... (USA Today -- Money)
Samsung posts biggest profit Jul 24, 2009
Samsung said it would be prepared for a possible slowdown in the LCD business in late 2009 and early 2010, as price competition between TV set makers might heat up. "LCD prices are unlikely to recover much due to signs of a supply glut," said Chang In-whan, chief executive and fund manager at KTB Asset management. (India Times)
Healthcare blinders Jul 24, 2009
We need to replace fee-for-service reimbursement with price competition between integrated providers that are paid by the year, not the procedure. They, in turn, should pay their doctors and hospitals lump sums for cycles of treatment for medical conditions - such as a knee replacement or a year s treatment of diabetes. (Boston Globe)
Steel Dynamics Reports Second Quarter 2009 Results Jul 23, 2009
They, as in the past, continue to do an excellent job in controlling costs as we all recognize the realities of the current business environment," Busse said. In June Steel Dynamics relocated their corporate offices to a building obtained through the acquisition of OmniSource, and at which OmniSource continues to also maintain its central offices. Telephone and email contact information for Steel Dynamics corporate office employees remains unchanged. Second Quarter 2009 Operating Segment... (PR Newswire)
Retail reboot? Wal-Mart's got hot deals on laptops Jul 23, 2009
"At the moment, price competition and extreme promotions are spurring the market," says Jay Chou, PC industry analyst at IDC.. "We're seeing the average guy on the street holding up PC sales pretty well.". (USA Today -- Money)
LG Elec Q2 profit surges, strong margins to ease Jul 22, 2009
Nokia also slashed market share forecasts amid price competition led by Samsung and LG.. Samsung posts earnings on Friday and indicated earlier this month its profits would be above expectations. (Yahoo News -- Press Releases)
LG Elec Q2 Profit Surges on Handsets, TVs Jul 22, 2009
Nokia also slashed market share forecasts, and analysts say increasingly aggressive price competition from Samsung and LG is hurting the world's top cellphone maker. 1. (ABC News -- Wire)
* Handset suppliers could see difficult year: analysts Jul 18, 2009
Nokias new model launch and better scale do not appear to have helped its margin, said Chang, adding that the companys lowered operating margin guidance could also be a result of aggressive price competition from Samsung and LG. ... Given that Nokia, Samsung and LG are all trying to launch smartphones with competitive prices, the intensifying price competition will also put more pressure on HTC Corp (Fq), the Citigroup analyst said. (Taipei Times, Taiwan -- World Business)
