Consumer Biz Cheat Sheet: Ford and GM Sell Cars, DirecTV and FOX Make Up
DirecTV Group, Inc. (NASDAQ:DTV) reached an agreement with Fox (NASDAQ:NWS) to continue providing its 19 million subscribers with 27 Fox channels. The satellite broadcaster had threatened a Fox service disruption if the companies didn’t come to agreement after the network asked for a 40 percent price increase.
The agreement’s financial details were not disclosed by the two sides.
A coalition of health and environment groups continue to pressure Johnson & Johnson (JNJ) to remove alleged cancer-causing chemicals in its renowed Baby Shampoo. The company has said the chemical has met regulatory approval and that it will phase about the questionable chemical gradually.
One group, the Campaign for Safe Cosmetics, launched a report boycotting the shampoo, “Baby’s Tub is Still Toxic,” on its Web site today at http://www.safecosmetics.org.
The Macau Gaming Board estimates the territory’s gambling revenue increased 42 percent to a record $3.4 billion in October as compared to the previous year. Macau, which is only one hour away from Hong Kong by ferry, is China’s sole place for legalized casino gambling. While its good news for Macau casino owners, they aren’t reaping the benefits and will join their gaming company rivals with stock declines: Las Vegas Sands Corps (NYSE:LVS), MGM Resorts International (NYSE:MGM), WYNN and Melco Crown Entertainment Limited (NASDAQ:MPEL).
Ford Motor Company (NYSE:F) and General Motors Company (NYSE:GM) disappointed investors with October auto sales numbers. Ford’s U.S. sales increased 6.2 percent, coming in below an 11-percent forecast; however, it did see stronger SUV sales. GM sales increased a measly 1.9 percent vs. a 7 percent expectation. The company’s inventory did rise to an 82-day supply in October, representing an increase from September’s 67 days.
Get all the details: U.S. Automakers Post October Sales Gains.
Discovery Communications (NASDAQ:DISCA) reported its third quarter earnings per share of $0.59 beat estimates by $0.04. Revenue of jumped18 percent from the previous year to $1.095 billion, also beating estimates by $85 million. The company projected a 2011 revenue between $4.175 billion to $4.25 billion, coming in above the $4.13 billion estimates.
Investing Insights: 5 Auto Stocks to Watch After The Monthly Car Sales Report.