Best Buy Tops 4Q Wall Street Profit ForecastsBest Buy Co. (BBY) on Thursday reported fiscal fourth-quarter profit of $479 million. The Richfield, Minnesota-based company said it had profit of $1.40 per share. Earnings, adjusted for one-time gains and costs, came to $1.53 per share.
Despite Drop In 4Q Profits, St. Jude Tops Wall Street Forecasts St. Jude Medical Inc.'s fourth quarter profit fell 54 percent on a mix of lackluster sales and higher expenses, but its adjusted results still beat expectations.
Medtronic To Cut 500 Jobs In MinnesotaMedical device maker Medtronic will cut 500 jobs in Minnesota, as part of an overall elimination of approximately 2,000 jobs worldwide. A Medtronic spokeswoman said 65 percent of the job cuts have already occurred. The rest will be eliminated in the current fiscal year.