Consumer Business Review: Waste Mgmt. Slashes JOBS, Penney’s LATEST New Strategy
Here are Thursday’s top stories:
Unilever Plc. (NYSE:UL) posts second quarter underlying revenue rising by 5.8 percent, easily beating the consensus of plus 4.8 percent. Underlying volume growth increased by 2.2 percent, which missed consensus of plus 2.4 percent. The firm commented that, “Looking forward we expect continued volatility, especially in commodity costs and economic conditions, but we remain on track to deliver a modest improvement in core operating margin” in 2012.
Waste Management, Inc. (NYSE:WM) intends to eliminate 700 jobs in an attempt to slash costs. In addition, the company expects to take a third quarter pre-tax charge of between $50 million and $60 million linked to the effort. However, shares notably spiked near the close on Thursday.
Management of Las Vegas Sands Corp. (NYSE:LVS) knows the drill: Macao, then Singapore, and then Las Vegas determines the fate of the company nowadays, but Kid Dynamite believes that the company obtained more casino revenue in Bethlehem than in Las Vegas last quarter. The main action is in the slot machines, and Bethlehem more than doubled the action in Las Vegas.
In its latest strategy, J.C. Penney (NYSE:JCP) is poised to conduct deep price cuts across much of its merchandise, say sources, which would mark yet another a change in tactics for chief executive Ron Johnson. Beginning in August, month-long specials will be axed, and customers will be offered a choice between every day low prices, or big markdowns on certain items.
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