Morning Roundup: Today's Top Stories
At The Motley Fool, we know our readers like to be informed. Here's a quick look at today's most relevant financial news, boiled down to what you need to know.
Telefonica reports first loss in nine years
Spanish telecom titan Telefonica (NYS: TEF) reported the company's first quarterly loss in almost nine years, with a 429 million euro loss in the third quarter. The loss comes on the heels of a 2.7 billion euro restructuring cost. Read the full story at Bloomberg and Reuters.
E*TRADE is off the market
After a strategic review, online brokerage firm E*TRADEFinancial (NAS: ETFC) has decided it will not be for sale. The company's advisor on the review, Goldman Sachs (NYS: GS) , recommended to the board that E*TRADE continue to execute its business plan accordingly. Read the full story at BusinessWeek.
Dillard's posts strong earnings
Discount retailer Dillard's (NYS: DDS) reported an 85% jump in profit for its third quarter, earning $26.6 million, or $0.50 a share. Revenue and earnings both beat analyst estimates. Full details at MarketWatch.
Citigroup sells EMI to highest bidders
EMI Group, which Citigroup (NYS: C) owns, continued to sell off assets. French telecommunications and media company Vivendi will acquire EMI Group's music division in a deal valued at $1.9 billion, while the music publishing business of EMI will be sold to a group led by Sony's (NYS: SNE) music division for $2.2 billion. Read the full story at The Wall Street Journal (subscription required).
That's a wrap
So there you have it -- the top financial stories for this afternoon. If you are interested in getting all the news and commentary on these stocks, sign up to My Watchlist here --it's free!
- Add Telefonica to My Watchlist.
- Add Sony to My Watchlist.
- Add Goldman Sachs to My Watchlist.
- Add E*TRADE Financial to My Watchlist.
- Add Dillard's to My Watchlist.
- Add Citigroup to My Watchlist.
At the time this article was published Fool contributor Tamara Rutter does not own shares of any of the companies mentioned in this column. Follow her on Twitter @TamaraRutter. The Motley Fool owns shares of Citigroup and Telefonica. Motley Fool newsletter services have recommended buying shares of Goldman Sachs. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.