Americans put the brakes on purchases of LCD TVs and other electronics this summer, leaving manufacturers like 3M Co. — which relies on those expensive goods to drive its business — in the dark.
CBS Moneywatch Editor at Large Jill Schlesinger previewed a big earnings week on Wall Street Monday.
Target Corp. said Thursday that sales of groceries, beauty products and clothing helped fuel a 5.3 percent September rise in revenue at stores open at least a year.
Best Buy Co. said Tuesday its fiscal second-quarter net income fell 30 percent as consumers hit the pause button on buying electronics, particularly TVs and smart phones, while fears about the global economy persist.
Target Corp.’s revenue at stores open at least a year climbed 4.1 percent in August, driven by back-to-school shopping. The results announced Thursday topped Wall Street’s forecast.
Filter maker Donaldson Co. said Monday that its fourth-quarter profit jumped 29 percent on stronger industrial and engine products sales and a favorable impact from foreign currency translation.
Hormel Foods Corp.’s third-quarter net income climbed 15 percent as it charged more for its products and its overseas revenue rose, beating Wall Street’s expectations.
Valspar Corp. said Monday that income fell 10.3 percent in the company’s third quarter on higher restructuring expenses.
Polaris Industries Inc. said Tuesday that its profit nearly doubled in the second quarter as the company sold vehicles for higher prices while keeping costs in check.
Best Buy Co. said Tuesday that it will buy back $5 billion of its common stock and raise its quarterly dividend by 7 percent.
Snack and cereal maker General Mills Inc. said Thursday it is still on track to achieve its fiscal 2011 guidance even as it faces rising ingredient costs.
Target Corp.’s April revenue increased 13.1 percent at stores open at least a year, as customers flocked there for basics like groceries and clothing.
3M Co. is raising its earnings expectations for the year, saying higher sales around the globe will offset the disruption to its business in Japan from the earthquake there.
UnitedHealth Group Inc.’s first-quarter earnings rose 13 percent and trumped Wall Street expectations as the health insurer reversed last year’s enrollment losses and benefited from slower increases in health care use.
Minnesota Gov. Mark Dayton made $671,724 last year — more than enough to qualify for an income tax hike under his budget proposal, according to tax returns released Tuesday.
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