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.
Sony may launch cable TV service
Cable companies could face an uphill battle against media giants such as Sony (NYS: SNE) and Google (NAS: GOOG) as they contemplate Internet-based alternatives to the pay television services that cable and satellite operators provide. So far, Sony has reached out to content providers including Discovery Communications (NAS: DISCA) and News Corp. (NAS: NWSA) , although no definitive agreements have been reached. Read the full story at The Wall Street Journal (subscription required).
Tyco sales come out on top
Switzerland-based industrial company Tyco International (NYS: TYC) topped Wall Street's average forecast by $0.06 for the fourth quarter. The company reported net revenue of $400 million, or $0.85 a share including special items, up from $0.53 per share the year prior. Read the full story at Reuters.
Vivendi's got game
French telecom and entertainment company Vivendi reported higher-than-expected earnings, largely thanks to strength at ActivisionBlizzard (NAS: ATVI) , in which it holds a 63% stake. Activision raised its earnings outlook for the year after one of the strongest product launches in the company's history for its Call of Duty: Modern Warfare 3. Earnings at Activision grew 38.6%, while strong earnings at Vivendi's GVT Brazilian telecom business increased 47.1%. Read the full story at BBC News.
Target profits on sales of groceries
Discount retailer Target (NYS: TGT) grew quarterly profit to $555 million, or $0.82 a share, up from $0.74 per share a year earlier, beating forecasts. The company has moved to add groceries to more of its stores, which has increased revenue but pressured profit margins. Read the full report at Reuters.
That's a wrap
So there you have it -- the top financial stories for this morning. If you are interested in getting all the news and commentary on these stocks, sign up to My Watchlist here -- it's free!
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At the time this article was published
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