Shares of Abbott Laboratories are climbing on Wednesday after the company reported first-quarter net income that fell 31%, but adjusted earnings still managed to beat expectations. Excluding items, Abbott earned $0.41 a share, topping analyst expectations of $0.36 a share, according to Thomson Reuters. Abbott's results were weighed down by a negative impact of foreign exchange rates as well as the shutdown of a drug manufacturing plant. The company reaffirmed its 2014 earnings forecast.
Google purchases drone company Titan Aerospace, the same company Facebook was recently said to be interested in acquiring. The move is part of Google's push to spread Internet access around the world, especially to underdeveloped regions. Although the two companies will still operate individually, Titan will team up with Google on its Maps service as well as Project Loon, which aims to spread Internet service by using giant, high-altitude balloons. Terms of the deal aren't disclosed.
Shares of Coca-Cola are climbing on Tuesday after the company reports better-than-expected quarterly revenue on strong sales out of China. Case volumes in China rise 12% in the quarter, offsetting a drop in Europe and flat volumes in North America. Earningsare 44 cents a share, excluding items, in line with analysts' estimates, according to Thomson Reuters. Revenue fallsl 4% to $10.58 billion, narrowly beating analysts' estimates of revenue of $10.55 billion.
Amazon is reportedly preparing to launch a smartphone according to a report from The Wall Street Journal over the weekend. Speaking with sources familiar with the project, the news site said an announcement could come as early as June with device shipments around September, just in time for the critical holiday shopping season. A report from tech site Re/Code supports the claims, noting that Amazon will likely release both a high-end model and cheaper unit for emerging markets.
Shares of Citigroup are climbing on Monday after the bank reports first-quarter quarter earnings and revenue that handily beat analysts' estimates. Excluding items, Citigroup reported adjusted earnings of $1.30 a share on revenue of about $20.1 billion -- beating analysts' estimates of earnings of $1.14 a share on revenue of about $19.3 billion, according to Thomson Reuters. A narrower loss on its portfolio of troubled assets, Citi Holdings, contributed to the better-than-expected results.
Google announced it will hold a one-day sale for Glass on April 15, marking the first time the wearable device will be available to anyone outside of the 10,000 developers, contest winners and those selected to try out the device, called Explorers. The Internet-connected eyewear will be available to U.S. residents through online order beginning at 9 a.m. Eastern time. It will be the same version of Glass that's used by Google's Explorers -- and will still have its price tag of $1,500.
Shares of Gap are sinking on Friday after the retailer reports worse-than-expected same-store sales for March. Gap announced after the close on Thursday that its comparable sales for March fell 6% -- worse than analysts' expectations for a drop of 4.7%, according to Thomson Reuters. Gap blamed the bad winter weather and the later occurrence of the Easter holiday in April this year, from March last year, as reasons for the weaker sales. Still, the company reaffirmed its full-year forecast.
Walmart is trying to make eating healthy easier for Americans -- by making it more affordable. The retailer said on Thursday that's reached a deal with organic foods brand Wild Oats to sell the company's products at lower prices. Walmart said prices of Wild Oats products will be at the same level as typical grocery items and at least 25% below the price point of national organic food brands. The company said 91% of its shoppers would consider buying affordable organic products.
Shares of Rite Aid are climbing on Thursday after the drugstore chain reports higher-than-expected profit for the fourth quarter and issues a 2015 earnings forecast above analysts' estimates. Rite Aid forecast full-year 2015 sales of $26 billion to $26.5 billion, beating analysts' forecasts of revenue of about $25.7 billion. The company said it expects its pharmacy sourcing deal with McKesson as well as new and higher-priced generic drugs to drive sales in 2015.
In what's being called the death of Windows XP, Microsoft will no longer provide support for the operating system beginning today. Without Microsoft's security updates, computers running on XP will be left vulnerable to viruses and cyber attacks. That includes many of the nation's ATMs and small businesses still running on Windows XP. Microsoft is advising that XP users upgrade their current PC to run on Windows 8.1 if possible. If not, Microsoft encourages users to shop for a new computer.