Services Sector Review: IBM Cuts Jobs in Germany, B&N Takes Amazon Out of Stores
Corinthian Colleges, Inc. (NASDAQ:COCO) anticipates that its 2010 cohort default rates will be “well below required federal thresholds” for the current two year measurement method. The company added that it has significantly reduced its risk of exceeding a 30% threshold for three consecutive years under the new three year measurement rules.
The shares closed at $4.14, up $1.11, or 36.63%, on the day. Its market capitalization is $351.25 million.
ManpowerGroup (NYSE:MAN) reported Q4 revenue $5.50B vs. consensus $5.54B. Included in the Q4 results is a reorganization charge, primarily related to office consolidations and severance costs, of $20.5M, or $16.3M after tax or 20c per diluted share. Net earnings in the quarter were not significantly impacted by changes in foreign currencies.
The shares closed at $45.86, up $5.75, or 14.34%, on the day. Its market capitalization is $3.74 billion.
Amazon.com, Inc. (NASDAQ:AMZN): Barnes & Noble (NYSE:BKS) will no longer sell books published by Amazon.com (NASDAQ:AMZN) in its nearly 700 stores, saying Amazon had “undermined the industry” by trying to sign exclusive agreements with publishers, agents and authors, but they will continue to sell Amazon-published titles on its website, the Wall Street Journal reports.
The shares closed at $179.46, down $14.98, or 7.7%, on the day. Its market capitalization is $81.65 billion.
Google Inc (NASDAQ:GOOG): By filing its IPO paperwork today, the regulatory review on Facebook’s offering will be over and shares will likely begin trading before the end of June, meaning the six-month lock-up period will expire before the end of the year, when the capital gains tax may grow to as high as 25% from its current 15%, the New York Post noted.
The shares closed at $580.83, up $0.72, or 0.12%, on the day. Its market capitalization is $188.85 billion.
Intl. Business Machines (NYSE:IBM) may cut as many as 8,000 jobs from its total headcount of 20,000 in Germany after the division missed targets set by headquarters, according to Handelsblatt, citing unidentified sources on the company’s local board, reported Bloomberg.
The shares closed at $192.62, up $0.02, or 0.01%, on the day. Its market capitalization is $227.03 billion.
AT&T Inc. (NYSE:T) plans to take delivery of 1,200 Chevrolet Express dedicated compressed natural gas cargo vans to be deployed to AT&T service centers nationwide. It is the largest-ever order of GM (NYSE:GM) CNG vehicles.
The shares closed at $29.60, up $0.19, or 0.65%, on the day. Its market capitalization is $175.44 billion.
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