Shares of Simon spinoff dip in early trading
Simon Property Group has revised its earnings forecast with the Thursday launch of spinoff firm Washington Prime Group.
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Stonegate Mortgage results tumble in first quarter
Despite bucking an industry downturn in mortgage loan originations during the first quarter, Stonegate Mortgage Corp. on Thursday reported a net loss of $7.9 million.
CNO takes big earnings hit to dispose of old business
Excluding the cost of finally shedding a block of business from predecessor Conseco Inc., CNO's operations were on the upswing in the first quarter.
First Internet profit slides in first quarter
A big decline in income from mortgage banking, linked to the national slowdown in home refinancing, carved a chunk from earnings.
Lilly to pay dearly for Novartis animal health biz
Wall Street analysts raised their eyebrows at the hefty price Eli Lilly and Co. will pay to acquire Novartis Animal Health, when compared to the value of the biggest player in the field.
HHGregg shares plummet on warning of weak sales quarter
The Indianapolis-based retailer announced disappointing preliminary sales figures on Tuesday morning for its fiscal fourth quarter, which it blamed on horrendous weather in major markets.
Emmis cranks up volume on fourth quarter revenue
Rumors of radio’s demise appear to be greatly exaggerated, at least for Indianapolis-based Emmis Communications Corp. Revenue for its radio and publishing arms continue to improve.
WellPoint CEO lands nearly $17M in first year
Compensation for Joe Swedish included $4.1 million in perks, such as $3.8 million he would have received in his previous job, $79,000 in relocation expenses, and $82,000 for his legal fees from contract negotiations.
Auto auctioneer invests big in tech as sales go online
KAR Auction Services Inc. expects to spend as much as $125 million on technology this year as its focus continues to shift to the Web and apps.
Calumet shares skid on big fourth-quarter loss
The Indianapolis-based processor of crude oil blamed its loss on tighter profit margins and higher operating costs. It has been on an acquisition spree since 2011.
Lilly drug shows promise as lung cancer treatment
Shares of Eli Lilly and Co. rose as much as 3.8 percent Wednesday morning after the Indianapolis-based drugmaker revealed that an experimental drug boosted overall survival among lung cancer patients in a large trial.
Angie’s List earmarks $4M for lawsuit settlement
The Indy-based consumer reviews firm has set aside $4 million to settle a lawsuit alleging Angie’s List automatically renewed membership fees at a higher rate than members were led to believe.
Allison Transmission finishes lackluster year with bang
Allison Transmission Holdings Inc. kicked its fourth quarter into overdrive with a 70-percent increase in profit over the same quarter in 2012, the firm reported Thursday. But profit for the year was down significantly.
Angie’s List turns quarterly profit, but shares fall
Shares in the Indianapolis-based consumer-reviews service fell 14 percent in after-hours trading Wednesday evening, despite a rare profit in the firm’s fourth quarter.
Cummins posts strong 4Q results to boost slower year
The Columbus-based engine maker recorded a 7-percent increase in profit, but full results for 2013 lagged behind 2012.
Emmis turns profit despite sluggish radio revenue growth
The Indy-based media firm held steady despite headwinds in radio advertising sales. Its publishing division, which includes Indianapolis Monthly, provided a welcome boost.
Simon amends plan for CEO’s controversial $154M bonus
Simon Property Group has tied CEO David Simon’s $154 million retention bonus to the financial performance of the company, but plaintiffs in a related legal action are not satisfied.
Angie’s List hit with shareholder suit
The complaint charges the company and executives with misrepresenting the strength of the Indy-based firm’s business model, financial performance and future prospects.
Duke Realty reports smaller loss on gains from property sales
The Indianapolis-based real estate firm held steady in the third quarter, maintaining high occupancy in its commercial buildings and increasing funds from operations.
Strategist: Get ready for steady economic growth
Businesses will begin using their profits and horded cash to reinvest in themselves in 2014, helping push economic growth back to a more comfortable 2.5 percent, according to John Augustine, chief market strategist for Fifth Third Bank.