Yahoo Exits South Korea and 4 Morning Hot Stocks Turning Heads
Yahoo (NASDAQ:YHOO) calls it quits in South Korea. “Yahoo has faced several challenges in the past couple of years and decided to pull out of the (Korean) business to put more resources on global business and become more powerful and successful,” it said in a statement. Yahoo! started business in Korea in 1997 and this is the first Asian country which it is leaving as competition becomes severe with the advent of Google and Facebook and tough local rivals such as NHN Corp and Daum.
Electrical product manufacturer Cooper industries Cooper Industries (NYSE:CBE) reports third-quarter EPS of $ 1.16 which beats expectations by $ 0.02. Revenues grow by 7.8% year-on-year to $ 1.50 billion, in line with expectations.
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Starbucks (NASDAQ:SBUX) insists it has done nothing wrong as it gets flak for having avoided paying tax on its operations in the United Kingdom.
First Niagara Financial Group (NASDAQ:FNFG) reports third-quarter EPS of $ 0.19 which is off estimates by $ 0.03. Revenues are clocked at three $ 71.8 million which beat by $ 17 million.
Federal-Mogul (NASDAQ:FDML)reports FQ2 EPS of $ -0.11 and revenues of $ 1.60 billion which miss by $ 0.36 and $ 80 million respectively.