Career News 24/7: Business Today: HP revenue short of Wall Street's estimates, plans more job cuts

Thursday, May 22, 2014

Business Today: HP revenue short of Wall Street's estimates, plans more job cuts

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05/22/2014

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HP revenue short of Wall Street's estimates, plans more job cuts

SAN FRANCISCO (Reuters) - Hewlett-Packard Co plans to cut as many as 16,000 more jobs in a major ramp-up of CEO Meg Whitman's years-long effort to turn around the personal computer maker and relieve pressure on its profit margins.

Wall St. closes higher, led by small caps

NEW YORK (Reuters) - U.S. stocks ended higher on Thursday, led by gains in small-cap stocks while the Nasdaq advanced on a rally in biotech shares.

Housing sector turning the corner; jobs market firming

WASHINGTON (Reuters) - U.S. home resales rose in April and the supply of properties on the market hit its highest level in nearly two years, hopeful signs for the stalled housing market recovery.

U.S. states probe eBay cyber attack as customers complain

BOSTON/NEW YORK (Reuters) - EBay Inc came under pressure on Thursday over a massive cyber attack as three U.S. states began investigating the e-commerce company's security practices.

T-Mobile overtakes Sprint as No. 3 smartphone buyer in U.S.

NEW YORK (Reuters) - T-Mobile overtook Sprint Corp as the No. 3 smartphone purchaser in the United States in the first quarter, according to a report, as the company used aggressive discounting to add more new subscribers than any other U.S. wireless operator.

U.S. auto sales seen up over seven percent in May: research firms

DETROIT (Reuters) - New-car sales in the United States are expected to rise more than 7 percent in May and continue the strong spring selling season as the month includes five weekends, two industry research firms said on Thursday.

Canada keen to find out if GM Canada delayed recalls, breaking law

OTTAWA (Reuters) - Canadian government officials are trying to determine whether the Canadian unit of General Motors had delayed the recall of some cars, breaking the law in doing so, after the U.S. fined the parent company $35 million for its delayed response.

J&J sees device growth via new products, emerging markets

(Reuters) - Johnson & Johnson said on Thursday it would file for approvals of more than 30 major products by the end of 2016 as it looks to restore growth to a medical device division that has been overshadowed by its drugs business.

Law firm Squire Sanders suspends merger vote with Patton Boggs: reports

(Reuters) - Law firm Squire Sanders has suspended voting on merger talks with the Washington, D.C., law and lobbying firm Patton Boggs, trade publication American Lawyer reported on Thursday.

GE agrees to extend deadline on Alstom bid to June 23

(Reuters) - General Electric Co has agreed to extend its $16.9 billion bid for the power arm of France's Alstom until June 23 from June 2 at the request of the French government, the U.S. company said on Thursday.