Kraft Foods Inc. (NYSE: KFT) shares fell to 29.13 points, giving the bears -0.32 (-1.09%). Abercrombie & Fitch Co. (NYSE: ANF) is experiencing even greater troubles with its shares falling to 34.27 points, a loss of -3.36 (-8.93%), despite good profit.
Carlsberg A / S, the largest brewer in Russia, raised the forecast for net profit for the entire year. The company believes in demand increasing. The company now expects operating profit for 2010 of 10 billion Danish kroner ($ 1.7 billion).
J.C. Penney Company, Inc. (NYSE: JCP) went up to 20.80 points yesterday. Today’s auction will most likely favorable for the JC Penney shares, despite the bad news. J.C. Penney lowered its forecast for annual profit.
The DJIA lost -0.37% and catches the bearish trend. The Dow Jones Industrial is 10,641.38 points at the moment. At the same time, Costco Wholesale Corporation (NASDAQ: COST) disappointed investors bad records. Costco Wholesale Corp. at the level of 56.44 points, losing 1.67%.
Another negative came from Australia this morning. Ritaeylery continue to report losses. Harvey Norman reported on the wrong quarter, Harvey Norman profit goes to minus.
The increase in wheat prices was resumed on the world grain market. Prices for a bushel of wheat went up by 2,3% and reached 5.9025 dollars at the Chicago Mercantile Exchange.
According to recent news, Carlyle Group investment firm plans to sell cosmetics manufacturer Philosophy for $ 1 billion, three years after buying the company for $ 475 million.
Financial reform is coming to the U.S.. To understand what happens let’s look back. Last year in New York held a debate entitled “Politics” buy American / hire Americans – two-edged sword “, was attended by several hundred people. Then the three defenders of free trade to the challenge of three known protectionists, who often flash across our television screens. Initially it was assumed that the outcome of the voting audience of supporters of free trade lose to a team: 45% to 55%.
Dutch electronics producer Philips said that net profit for the second quarter exceeded analysts’ expectations, reaching 262 million euro, while operating profit for the period rose from 118 million euros a year earlier to 527 million euros ($ 684 million), while revenue was at 6 2 billion euros.
Apple will distribute free cases for problematic iPhone customers, – said CEO Steve Jobs at a special press conference on the deficiencies in the design of the popular smartphone. Jobs said that all iPhone buyers will get free cases, which eliminate interference to the signal of mobile communications.