Yahoo Q3 revenue profit slip

A TEXT POST

Yahoo Q3 revenue, profit slip


Profit in Yahoo’s third-quarter, the last quarter under Chief Executive Carol Bartz, who was fired in September, totaled $293 million, or 23 cents per share. In the year-ago period, Yahoo posted net income of $396 million, or $29 per share.It was not immediately clear whether Yahoo’s third-quarter EPS was comparable with the 17 cents a share expected by analysts polled by Thomson Reuters I/B/E/S.Yahoo’s net revenue — which excludes fees paid to partner websites — was $1.07 billion, compared with $1.12 billion at this time last year, and in line with Wall Street expectations.Looking ahead, Yahoo projected fourth-quarter net revenue of $1.125 billion to $1.235 billion, compared with $1.22 billion expected by analysts.Yahoo, which has appointed Finance Chief Tim Morse as interim CEO, has retained investment banking firm Allen & Co to help it conduct a “strategic review” of its business.

Rogers merges insurance service with Swan

A TEXT POST

Rogers merges insurance service with Swan


Last August, Rogers, which operates in the island’s financial, property, hotel, aviation and logistics sectors — said profit before tax rose to 439.6 million rupees for the nine months to end-June.Mauritius is famed for its white sandy beaches and spas catering to the luxury end of the leisure market.According to Swan Group’s website, it operates as Swan Insurance Co Ltd for short-term insurance business and as Anglo-Mauritius Assurance Society Ltd for life assurance, pensions, actuarial and investment business.

UK firms raised ad spend in Q3 survey

A TEXT POST

UK firms raised ad spend in Q3 -survey


“That we are seeing a further decline in confidence overall continues to reflect the uncertain financial climate that businesses are operating in,” IPA President Nicola Mendelsohn said. “This rise in spend demonstrates that many companies are trying to buck the downward trend.”Overall, around 21 percent of companies revised up their total marketing budgets, compared with 17 percent that reduced their spend.The report, which is based on a survey of around 300 UK-based companies, said the increased spend resulted in a headline net balance of the survey of 3.4 percent, a one and a half year high.Of the different categories, the Internet registered the steepest increase.

UPDATE 1Western Wind gets unsolicited bid from Algonquin

A TEXT POST

UPDATE 1-Western Wind gets unsolicited bid from Algonquin


The offer price of C$2.50 a share, which is at a premium of nearly 88 percent to the company’s close on Friday, is an “extremely low-ball bid”, Western Wind said in a statement.”A large U.S.-based corporation, with a substantial U.S. tax appetite, is the only entity that can offer the full value to the Western Wind shareholders,” the company said. “There is over $300 million of tax shield available to a large taxable, U.S. entity.”Western Wind, which signed a 20-year contract in December to supply electricity to Southern California Edison from its flagship Windstar project, is on the verge of going on-line with the project in three months, it said.The company expects returns from the project to be above Algonquin’s offer, it added.Algonquin could not be reached immediately for comments. The company owns and operates $1.1 billion of clean renewable electric generation and sustainable utility distribution businesses in North America, according to Algonquin’s website.Western Wind shares rose over 68 percent to trade at C$2.24 on Tuesday on the Toronto Venture Exchange.

Atonement by Toni Romero Powered by Tumblr / Archives / Feed