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...billion in the first quarter of 2009, a decline of almost 13% compared with the same period a year earlier; the number of visitors to the city dropped by nearly 10% in the first quarter. The declines are hitting hoteliers and casinos hard. Melco Crown Entertainment, a Nasdaq-listed joint venture between Laurence Ho (Pansy Ho's brother) and Australian billionaire James Packer, recently reported it lost $35.3 million in the first quarter, compared with a $43.2 million profit in the same period in 2008. It was the fourth straight quarterly loss for the company, which operates Macau's Altira...
Apple netted over $1.2 billion on revenue of almost $8.2 billion last quarter. Investors must have sensed that good things were coming. The firm's stock is up 42% this year which is unfair to people who have invested in almost any other company. The NASDAQ has only inched higher by 3% during the same period...
That sort of context might prove useful for thinking about the day's broader market moves. To be sure, it was a happy one on Wall Street. The Dow Jones industrial average was up 5.8%. The broader S&P 500 index rose 6.4%. The tech-heavy Nasdaq composite gained 7.1%. For investors used to seeing negative signs in front of figures like those, there was cause for celebration indeed. (See the best business deals...
This is the second continuance in the highly anticipated case against Madoff, the former Nasdaq chairman who has been under house arrest since he was arrested December 11, 2008. The next preliminary hearing date is set for March 13, the US Attorney's office said. Marc Litt is the assistant US attorney handling the case...
...There has been a troubling suspicion that Apple (NASDAQ: AAPL) has not been forthcoming enough about the health of its CEO, Steve Jobs. He was O.K., and then he was not. The board probably knew that all was not well. It decided to keep that to itself. But maybe the board grew restless and asked Jobs to take some time off. (See pictures of Jobs...