Hooker Furniture Moves to Profit in 4th Quarter Due to Rise in Sales Per Day
Apr 03 2008
April 2, 2008 - 4:31 p.m. MARTINSVILLE, Va. (AP) - Furniture maker Hooker Furniture Corp. said Wednesday its swung to a profit in its fourth quarter, helped by a boost in sales per day. For the quarter ended Feb. 3, the company reported profit of $4.6 million, or 39 cents per share. In 2007, the fourth quarter lasted just two months since the company was transitioning to a new reporting calendar. During that time period, the company reported a loss of $18.4 million, or $1.52 per share. The company said its 2008 fourth quarter results included a gain of about 2 cents per ...
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Airline Shares Head Lower Amid Broader Decline; Crude Prices Jump to $104.83 a Barrel
Apr 03 2008
April 2, 2008 - 4:30 p.m. NEW YORK (AP) - Shares of airlines fell Wednesday amid a broader market pullback as oil prices jumped sharply higher, to $104.83 a barrel. Airline stocks often move opposite crude futures because fuel represents one of the industry's biggest costs. Also Wednesday, Federal Reserve Chairman Ben Bernanke told Congress the economy might weaken in the first half of 2008. Such a contraction would indicate the beginning of a recession, though Bernanke did not mention the word in his prepared testimony to Congress' Joint Economic Committee. Here's a look at how some key stocks fared: American ...
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Dollar Sinks Against Euro, Pound As US Fed Chief Suggests Recession Is Possible
Apr 03 2008
April 2, 2008 - 4:30 p.m. NEW YORK (AP) - The dollar fell Wednesday against the euro and the pound after U.S. Federal Reserve Chairman Ben Bernanke warned Congress that the American economy may shrink over the first half of this year, which would signal a recession. Meanwhile, the Commerce Department reported Wednesday that U.S. factory orders fell for a second straight month, and the Energy Department reported an unexpected jump in gasoline demand and a big drop in supplies. Oil prices spiked on the news. The euro bought $1.5664 in late New York trading, up from $1.5601 Tuesday. The British pound rose ...
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Organized Labor’s Opposition to Patent Reform Bill Could Put Democratic Senators in Tough Spot
Apr 03 2008
Christopher S. Rugaber April 2, 2008 - 4:28 p.m. WASHINGTON (AP) - The battle over patent reform, a sleepy sounding subject that affects new, cheaper medicines, Chinese counterfeits and BlackBerry addicts, has always sent high-tech companies and drugmakers to their respective corners. But now organized labor is getting in the fight, using its lobbying muscle to stop — or at least shape — proposed changes to patent law. Spurred by concern about overseas piracy of U.S. goods, unions have stepped up their opposition to patent reform legislation pending in the Senate. The AFL-CIO and the Change to Win coalition, a group ...
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