FedEx’s holiday-quarter operating profits top forecasts

By Sony Kassam FedEx Corp. turned in stronger-than-expected third quarter results, which the package-delivery giant said reflected higher-than-expected demand during the holiday season when shipments peak. In the quarter ended Feb. 29, the Memphis, Tennessee-based package-delivery giant said net income tumbled 19 percent to $507 million, or $1.84 per diluted share, from $628 million, or $2.18 […]

Industrial production dips in February despite manufacturing gain


By Sony Kassam Industrial production in the United States declined in February, as sagging oil production combined with lower utility output to mask an upturn in manufacturing. Industrial production slumped 0.5 percent last month after rising 0.8 percent in January, according to a Federal Reserve report released Wednesday. That’s a deeper decline than the 0.3 […]

Retail sales sag for second straight month

BP Gas Station

By Sony Kassam Retail sales in the United States showed a softer than expected decline in February, but a downward revision for sales in January could signal concerns about the economy’s growth. The U.S. Department of Commerce said Tuesday that retail sales fell a seasonally adjusted 0.1 percent last month – a decline for the […]

Chicago graduates catch startup fever

By Sony Kassam and Sarah Very When most people think of entrepreneurship, images of Silicon Valley tech startups, battling it out to be the next unicorn, come to mind. What they might not consider are the growing startups in the Windy City — a food, healthcare and manufacturing hub with some of the top business […]

Home sales and prices continue to rise


By Sony Kassam Existing home sales, supported by an improving labor market, were better than expected in January, rising to the highest annual rate in six months, a trade group said Tuesday. The National Association of Realtors said existing home sales, including condos, co-ops and single-family homes, inched forward 0.4 percent from December, to a […]

Dr Pepper Snapple posts upbeat results – along with a downbeat forecast

Dr Pepper Snapple

By Sony Kassam Dr Pepper Snapple Group Inc. turned in better-than-expected fourth quarter results Wednesday, but its shares came under pressure when it provided a wary forecast. The Plano, Texas-based soft drink company said net income soared 23 percent to $185 million, or 97 cents per diluted share, from $150 million, or 77 cents per […]

TreeHouse Foods profit tops forecasts

Graphic Tree

By Sony Kassam Despite increased competition and an unfavorable pricing environment, TreeHouse Foods Inc. released fourth quarter results that outperformed Wall Street’s expectations Thursday. The Oak Brook, Illinois-based provider of private label foods and beverages said net income rose 9.8 percent to $37.3 million, or 85 cents per diluted share, from $33.9 million, or 78 […]

RetailMeNot shares dive on downbeat forecast


By Sony Kassam Shares of RetailMeNot Inc. plunged Tuesday after the online coupon company revealed solid fourth quarter results – but cautioned investors that 2016 results will fall short of Wall Street forecasts. In the latest quarter, the Austin, Texas-based company reported net income of $9 million, or 17 cents per diluted share, down 36 […]

A promising future for Mondelez, if cost-cutting succeeds


By Sony Kassam Known for its Cadbury chocolates and Oreo cookies, the snacks food and beverage company Mondelez International Inc. has a hopeful long-term future, analysts say, if it continues to shrink costs, improve efficiency, and survive the volatile commodity market. The Deerfield, Ill.-based company is a leading provider of confectionary products with over $3 billion […]

Preckwinkle calls for leadership change at annual prayer breakfast

By Sony Kassam Increased tension over racism and violence following the police shooting and death of Laquan McDonald was the common theme at the annual Chicago Leadership Prayer Breakfast Friday morning. Cook County Board President Toni Preckwinkle hastened to address race and class in a politically charged statement to more than 600 business, religious, and […]