Business news briefs
New Balance shoes
New Balance Salt Lake has acquired the Felt-Buchorn building in downtown Salt Lake City. The 7,368-square-foot structure at 455 E. South Temple will be the new location of New Balance Salt Lake shoe store, relocating from Sugar House. New Balance was represented by Mountain West Retail/Investment's Scott Brady.
Exxon to purchase
Exxon Mobil fas agreed to buy Celtic Exploration for $3.1 billion in cash and stock as it seeks to expand its presence in the energy-rich shale formations of western Canada. Under terms of the deal, Exxon Mobil will pay $24.92 a share for Celtic.
BofA sees 3Q
Bank of America Corp. reported its third-quarter net income fell 95 percent, to $340 million, breaking even on a per-share basis, from $6.2 billion, or 56 cents, a year earlier. Revenue at the firm dropped 28 percent, to $20.4 billion before adjustments, and was little changed from the same quarter a year ago.
Intel 3Q net
Intel, the world's biggest maker of chips, said net income in the third quarter fell 14.3 percent, to $3 billion, or 58 cents a share, from $3.5 billion, or 65 cents a share, a year earlier. Revenue was $13.5 billion, down 5 percent.
IBM reports 3Q
IBM said its third-quarter profit of $3.8 billion was unchanged from a year ago. Earnings per share, though, worked out to $3.33 per share, a gain from $3.19 a year ago because the company has less stock outstanding. The performance marked the 39th consecutive quarter in which IBM's earnings per share rose from the previous year.
in a switch, eBay has redesigned its website to encourage visitors to browse and collect items they might want to buy later. The site shows users items based on things they bought in the past or items on which they've clicked. Shoppers also can edit their feed by adding or removing items. The online retailer wants its shopping to feel more like window-shopping or browsing in a traditional store.
profit inches up
American Express says its net income rose 1 percent in the third quarter as its customers spent more money, boosting revenue for the credit card issuer. But the rate of growth in spending was slower than earlier this year, echoing a trend among major card issuers. The company posted net income of $1.25 billion, or $1.09 per share, compared with net income of $1.24 billion, or $1.03 per share, in the same period last year. Revenue rose 4 percent, to $7.86 billion.
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