In Brief: Catalonia Region Hit By Drought; Landmine Toll Rises In Afghanistan <b>Drought-hit region has to import water </b>... Read Full Article Planning: The ?Kiddie Tax? Will Soon Have A Wider Reach Many families are facing the prospect of significantly higher-than-expected taxes when it comes time to sell investments held in a child’s name to pay college costs.... Read Full Article Stocks Fall On Unease Over Mortgage Woes Wall Street turned lower, led by financial services stocks, on concerns that the U.S. economy’s expansion will erode amid troubles in the mortgage industry.... Read Full Article Ideas & Trends: Bribes And Punishment To many Americans, the execution last week of China’s former top food and drug official may seem extreme, but severe sanctions for bribe-taking have a long and bloody history.... Read Full Article Afghan Forces Take Taliban Town Afghan and international forces have retaken a southern town held by Taliban militants since February, the Defense Ministry spokesman said.... Read Full Article |
Sears Rises On OutlookCHICAGO, Jan. 10 (AP) — Shares in the Sears Holdings Corporation rose sharply on Wednesday after the company announced that it expected fourth-quarter and full-year profit to rise. But another drop in sales at stores open at least a year left analysts and investors wondering about the retailer. Sales at stores open at least a year, or same-store sales, fell 1.2 percent for Kmart in the last two months of 2006, reflecting lower apparel sales because of unseasonably warm weather, the company said. Same- store sales at Sears, Roebuck fell 5.6 percent, which the company attributed to lower sales of garden items and appliances. For the fourth quarter ending Feb. 3, the company forecast net income of $750 million to $830 million, or $4.87 to $5.39 a share, up from $648 million, or $4.03 a share, a year ago. Results include a projected one-time $12 million after-tax gain, the company said. It said unspecified gains from property sales were offset by losses of undisclosed magnitude related to derivatives trading. Shares of Sears Holdings rose $5.86, to $172.09, on Wednesday. Tag CloudExternal InformationAdditional InformationMBIA admits $30.6bn home loan exposure$...Auctions of repossessed homes soar... Teck Cominco discovery expected to spark mini-boom... G.E. to Buy Several Merrill Businesses... Where Am I?News Main Page - Business - Sears Rises On Outlook |
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