Emmis’ quarterly profit rises on sale of station
Much of Emmis’ profit stemmed from the Aug. 23 sale of KXOS-FM in Los Angeles for $85.5 million, from which the company reported a gain from discontinued operations of $32.8 million.
Public Companies
Articles
Cummins shares slide on job cuts, lower forecast
Shares in Cummins Inc. saw their biggest one-day drop in three months Wednesday after the Columbus-based engine maker lowered its forecasts for revenue and profit and said it expects to cut as many as 1,500 jobs by the end of the year.
Members sue consumer ratings site Angie’s List over fees
A federal lawsuit seeking class-action status alleges that Angie’s List automatically renews members' subscriptions at a higher rate than they’re led to believe, under what it calls a “systematic and repeated breach of its membership agreement.”
Lilly shares rise on Alzheimer’s study results
Eli Lilly and Co.’s Alzheimer’s drug slowed cognitive decline 34 percent in patients with mild forms of the disease, according to an analysis of Lilly’s clinical trial data released Monday. Lilly’s share price jumped more than 5 percent on the news.
Celadon shares jump along with earnings expectations
The Indianapolis trucking company expects its quarterly earnings to beat analysts’ consensus forecast and last year's results, thanks to acquisitions and cost controls. Shares were up 9 percent at 1 p.m.
Cummins shortens work week at Columbus factory
The engine maker says that slowing demand led to the decision to scale back hours for the 350 workers at its Columbus Fuel Systems Plant. The new four-day workweek will continue indefinitely.
WellPoint likely to go outside for chief
While WellPoint Inc. and its predecessors have a history of grooming new CEOs in-house, the next leader of the health insurance giant is likely to be an outsider, according to interviews with more than a half dozen former directors and officers of the company.
Remy International getting prepared for another attempt at IPO
The Pendleton-based auto-parts manufacturer is offering 40,000 shares to employees and immediate family members to boost its number of stockholders before a broader public offering.
ExactTarget’s stock price falls as insiders unload shares
The stock fell more than 7 percent Tuesday after company insiders shed more than 7.5 million shares of the Indianapolis-based marketing software firm. The selloff follows the expiration Monday of the company’s lock-up agreement.
’80s anti-takeover law helped sow Emmis win
The Indiana Business Corporation Law—enacted to help Hoosier companies fight off a wave of attacks by corporate raiders—gives boards of directors unusually broad authority to exercise judgment as they see fit.
Bounty on Braly? $1.4 billion
Investors who called strongly for the head of WellPoint Inc. CEO Angela Braly got what they wanted last week. In response, they bid up WellPoint's share price by $1.4 billion on the day after she resigned.
Rival’s strong results have WellPoint playing catch-up
UnitedHealth has been enjoying healthy profits, growing customer rolls and a rising stock price—things the Indianapolis insurer has been unable to match. That tough comparison lies behind some of the investor attacks on WellPoint CEO Angela Braly.
WellPoint dragged into Goldman Sachs suit
WellPoint Inc.’s $4.9 billion offer for Virginia-based Amerigroup Inc. apparently wasn’t the only—or even the most lucrative—offer for the Medicaid managed care company. But it was the deal surest to come to fruition before a key deadline for a big payout for Goldman Sachs & Co., according to a shareholder lawsuit filed Aug. 16 against the Amerigroup board of directors.
Cummins cools off, but Seymour expansion still in works
Cummins Inc.—a company that quadrupled its profits in two years—has shifted to cost-cutting mode amid a drop in global sales, but the Columbus-based engine manufacturer says it’s still on track to increase sales from $18 billion in 2011 to $30 billion in 2015.
Steak n Shake customer traffic up in latest quarter
Biglari Holdings Inc., parent of Steak n Shake, said Friday that customer traffic to the restaurant chain grew 2.2 percent during the quarter ended July 4, boosting same-store sales 2.9 percent.
Alzheimer’s quest puts Lilly to test
Odds are long that Eli Lilly and Co.’s leading Alzheimer’s drug will show positive results when its Phase 3 trial results are released within a few weeks, but even the smallest improvement in the cognitive impairment of test patients would be a home run for Lilly.
New student-loan effort adding to ITT backlash
For-profit school operator ITT Educational Services Inc. told investors late last month that it had worked out a tentative deal with an outside party that would provide $100 million in loans to its students.
Simon Property directors sued over CEO’s pay
The board of the largest U.S. shopping-mall owner wrongfully authorized a compensation package for CEO David Simon that included $120 million in special stock awards, a Louisiana pension fund claimed in the lawsuit filed Wednesday.
Some banks beginning to raise dividends
Some of the most telling signs that banks finally may be recovering from the economic downturn are their decisions to begin increasing dividends.
HHGregg posts quarterly loss on poor TV sales, as expected
Disappointing sales at stores open at least a year dragged Indianapolis-based HHGregg Inc. to a rare quarterly loss, the appliance and electronics retail chain said on Thursday.