Business News

Lots of Earnings News

US stocks are little changed as we await the Fed’s updated policy statement and Fed Chairman Janet Yellen’s afternoon pres conference. (CNBC)

Once a tech icon, Sony, warned of a much-deeper-than-expected loss and said it would not pay a dividend this business year for the first time since 1958.  The company is now predicting a $2.15 billion net loss for the year. (Reuters)

Microsoft increased their dividend by 11% to 31 cents per share, which is in line with the software company's revenue growth last year and half of last year's 22% increase. Microsoft has a bulging shack of cash, which increased 11% over the past 12 months to $86 billion.   (Reuters)

General Mills the maker of Cheerios, GoGurt and Toaster Strudel, says quarterly profits fell 13% on sales of $4.27 billion. The company says North American manufacturing and distribution streamlining are expected to generate $100 million in cost savings by 2017. Plant shutdowns and worker firings are the most likely actions. (Yahoo Finance)

FedEx reported a 24% increase in quarterly profit as the world's No. 2 package delivery company benefited from higher volumes in both its express and ground businesses. Revenue increased to $11.7 billion from $11.02 billion a year ago. (CNBC)

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