UPDATE: Simon shares climb after profit beats estimates
The company raised its average rent per square foot at both regional malls and outlet centers even as U.S. consumer spending
flagged.
Bloomberg News
Articles
Simon Property’s quarterly profit tumbles
Quarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.
Simon, partner selling European malls for $981M
Unibail-Rodamco SE, Europe’s biggest shopping-center owner, has agreed to pay Simon Property Group and Ivanhoe Cambridge Inc.
$981 million for stakes in seven malls in France and Poland.
Movie Gallery files second bankruptcy in two years
The second-largest company in the movie-rental business behind Blockbuster Inc. is immediately closing 760 locations. The
chain operates 14 stores in central Indiana,
according to its Web site.
CBS sells out Super Bowl advertising slots
More than a dozen first-timers will kick off ad campaigns with spots purchased during the Super Bowl on Sunday, making up
for holes left by Priceline.com and Toyota.
Unsung Manning sibling a player in investment field
Cooper Manning, brother of Super Bowl winners Peyton and Eli, is a big success in his own right as a broker of energy stocks.
But you’ll rarely hear him mention the sibling connection to his clients, or that he’s buddies with Drew Brees.
Market on three-day losing streak
U.S. stocks sank again Friday, extending the market’s biggest three-day tumble since March, as financial shares slumped on
President Obama’s plan to rein in banks.
Pickens’ natural-gas plan may prove boon to truck builders
Converting the U.S. trucking industry to natural gas will benefit manufacturers including Columbus-based Cummins Inc., T. Boone Pickens says.
Dow Agro in legal skirmish over canola oil
Indianapolis-based Dow AgroSciences LLC has sued Cooper Industries Plc in an effort to clarify its rights to make a canola-based
fluid used in electrical transformers.
Stem cell discovery promises health care revolution
Scientists are using a new stem-cell technique that may someday revolutionize care for disorders as diverse as diabetes, Alzheimer’s
disease and muscular dystrophy.