Disney (NYSE:DIS) has acquired Studio Ex, a Korean game development studio specialising in multiplayer, free to play online and mobile games. Studio X has become a wholly-owned subsidiary of The Walt Disney Company and its main focus will be to develop games which are targeted at the Asian market. Existing Disney brands and characters or new ones would feature in these games. Financial terms were not disclosed.
According to a report by Bloomberg, Delta Airlines Inc (NYSE:DAL) may be close to clinching a deal to buy the 49% holding in Virgin Atlantic Airways owned by Singapore Airlines Ltd for a price in the range of $300 million-$500 million. According to the sources, the agreement could be announced as early as this week. Post the agreement, Delta and Virgin Atlantic may collaborate on a trans-Atlantic routes with Delta gaining valuable access to Heathrow.
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The Environmental Protection Agency plans to review findings by the Consumer Reports magazine that, according to its tests, the Ford (NYSE:F) Fusion sedan and C-Max crossover hybrid vehicles do not have the fuel economy of 47 miles a gallon that is claimed by Ford in its advertising. According to the magazine’s tests, the Ford Fusion hybrid gave 35 mpg in city driving, 41 on the highway and an overall economy of 39 mpg during 2000 miles of driving. The results for C-Max were 35 mpg in the city, 38 on highway and an overall 37 mpg.
Dollar General Corporation (NYSE:DG) reported a record sales and earnings result for its third-quarter 2012. Total sales were up 10.3% while same-store sales improved 4%. Adjusted earnings per share increased 26% to $0.63 per diluted share. Operating profit as a percentage of sales rose to 9.1% during the quarter compared to 8.6% in the same quarter last year. The company forecasts full-year adjusted earnings per share in the range of $2.82-$2.85.
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