Tuesday, October 19, 2010

Daily Business Update from the Boston Globe

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Globe Today

Tuesday, October 19, 2010

State Street's net income rises
State Street Corp. said it earned $1.08 per share in the third quarter, up 64 percent from a year ago. Revenues rose 3 percent, to $2.3 billion.

Bank of America posts $7.7b loss on special charge
Bank of America Corp., a national bank with a large presence in Massachusetts, said it lost $7.65 billion during the third quarter due to a charge related to credit and debit card reform legislation passed over the summer.

Suffolk tapped for Mass. Eye & Ear projects
Suffolk Construction said it has been awarded three renovation projects by the Massachusetts Eye and Ear Infirmary.

Goodrich plans Westford relocation
Goodrich Corp., a supplier of systems and services to the aerospace and defense industry, plans to move from Chelmsford to Westford Technology Park in Westford, said a broker involved in the lease transaction.

New Mohegan chairman says tribe faces challenges
UNCASVILLE, Conn. -- The new chairman of the Mohegan Tribal Council says keeping the tribe's Connecticut casino competitive and moving forward on a western Massachusetts casino project are among his priorities.

1366 Technologies raises $20m
1366 Technologies, a Lexington company focused on solar manufacturing, announced the close of a $20 million Series B financing that brings the total amount that the company has raised to $37.55 million.

Supervalu reports 2Q loss, cites Shaw's strike
Grocer Supervalu Inc. said it had a steep loss of $1.47 billion in the fiscal second quarter due to charges tied to a labor dispute at its Shaw's Supermarkets chain and employee-related costs.

New York Times Co. reports 3Q loss
The New York Times Co., publisher of The New York Times and The Boston Globe, is reporting a smaller loss for the third quarter, dragged down by one-time expenses and another drop in print advertising revenue.

Boston Scientific is set to report earnings
Natick medical device maker Boston Scientific Corp. reports its third-quarter earnings today, giving investors a chance to see how the company is recovering from a temporary halt in marketing of its best-selling implants earlier this year.

Today in Globe Business
A sample of Business stories from today's Globe.

Monday, October 18, 2010

Ray Ozzie to leave Microsoft Corp.
Massachusetts software industry legend Ray Ozzie is stepping down from his role as Microsoft Corp.'s chief software architect, a job he inherited from Microsoft co-founder Bill Gates.

NStar and Northeast Utilities agree to merger
Northeast Utilities and Nstar agree to a $17.5 billion merger.

Study: Israeli innovation generates $2.4b to Mass.
Nearly 100 companies in Massachusetts that are either founded by Israelis or offer products based on Israeli technology generated $2.4 billion in direct revenue in Massachusetts last year, according to new study.

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