AmEx Cuts 7,000 Jobs; Oil Down on GDP; Governors Lobby Gov. on Auto Industry; Motorola Downsizes; Kodak Results Less Than Picture Perfect; Waste Management Recession Resistant

American Express Co. (AXP) said yesterday (Thursday) that it plans to cut 7,000 jobs, or 10% of its global work force, in an effort to reduce costs by $1.8 billion in next year, The Associated Press reported. The company will also suspend management-level salary increases next year and institute a hiring freeze. American Express has reported four straight quarters of profit declines. Oil prices fell more than 2% yesterday (Thursday), after economic data showed a 0.3% decline in gross domestic product (GDP). Light, sweet crude fell $1.54 at settle $65.96 a barrel, after trading as high as $70.60 earlier in the day. Oil is down 55% from the record high $147.27 a barrel reached in July. It is down 30% in ...

AmEx Cuts 7,000 Jobs; Oil Down on GDP; Governors Lobby Gov. on Auto Industry; Motorola Downsizes; Kodak Results Less Than Picture Perfect; Waste Management Recession Resistant

American Express Co. (AXP) said yesterday (Thursday) that it plans to cut 7,000 jobs, or 10% of its global work force, in an effort to reduce costs by $1.8 billion in next year, The Associated Press reported. The company will also suspend management-level salary increases next year and institute a hiring freeze. American Express has reported four straight quarters of profit declines. Oil prices fell more than 2% yesterday (Thursday), after economic data showed a 0.3% decline in gross domestic product (GDP). Light, sweet crude fell $1.54 at settle $65.96 a barrel, after trading as high as $70.60 earlier in the day. Oil is down 55% from the record high $147.27 a barrel reached in July. It is down 30% in ...

Monday:Economic New Home Sales (450K)Earnings Arch Coal (ACI), Humana (HUM), FPL (FPL), Sohu (SOHU), Tidewater (TDW), Verizon (VZ), Atheros (ATHR), CF Ind (CF), Meritage (MTH), Vertex (VRTX), Zoran (ZRAN), Universal Health (UHS)Tuesday:Economic Consumer Confidence (52.0)Earnings Boyd (BYD), BP (BP), Ceradyne (CRDN), KC Southern (KSU), Royal Carib (RCL), SAP (SAP), Schnitzer (SCHN), US Steel (X), Under Armour (UA), USG (USG), Valero (VLO), Whirlpool (WHR), Apollo (APOL), Centex (CTX), Cephalon (CEPH), Fiserv (FISV), GMarket (GMKT), Lan Air (LFL), McKesson (MCK), NetLogic (NETL), Walter (WLT), Websense (WBSN), STMicro (STM)Wednesday:Economic Weekly Crude, Durable Orders (-1.0%), FOMC StatementEarnings Aetna (AET), AGCO (AG), Comcast (CMCSA), Corning (GLW), Hess (HES), Garmin (GRMN), Legg Mason (LM), Moody’s (MCO), Newmont (NEM), SPX (SPW), Tesoro (TSO), Agnico (AEM), Cliffs Nat Res (CLF), CME Group (CME), First Solar (FSLR), Gen Cable (BGC), Hartford (HIG), Harris (HRS), Murphy (MUR), Prudential (PRU), Symantec ...

PhotoChannel Networks Inc. (PN.V) is a leading provider of digital photofinishing solutions, specifically the processing, storing, uploading, and sending of digital photos to retailers for printing. In addition, the company can provide retailers with a comprehensive digital photofinishing offering, including online at home, in store kiosks, and mobile solutions.

Over the past few years, PhotoChannel has acquired a number of significant retailers as partners. The company’s partners in the US include: Kmart, Costco, Sam’s Club, and CVS Pharmacy. In Canada, the company’s partners include: Walmart, Costco, Loblaw, and Shoppers Drug Mart. The company’s partners internationally include: Tesco, Boots, Kodak, Hallmark, Kmart, and Asda (Walmart).

PhotoChannel reported its financial results for the three and nine periods ended June 30, 2008 on August 26, 2008. The company reported record revenues (results are stated in Canadian dollars). For the quarter ended June 30, 2008 the company reported an increase in gross revenues of 231%, as

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The 2008 Summer Olympics are here, and there are several publicly traded companies that are official Worldwide Olympic Sponsors. If you think that being connected to the Olympics can help these companies, it may be worth taking a closer look at these stocks.Coca Cola (KO) is the famous beverage company. The stock has a PE of 22 , a PEG of 1.9 and pays a yield of 2.70% .General Electric (GE) the conglomerate involved in technology, media, and financial services. The stock has a PE of 14 , a PEG of 1.22 and pays a yield of 4.20% .Johnson & Johnson (JNJ) famous for its Bandaids, makes and markets various health care products. The stock has a PE of 17 , a PEG of 1.98 and pays a yield of 2.60% .Kodak (EK) makes and sells photography and digital ...

Kodak Announces $1 Billion Buyback; Kroger Lowers Prices, Posts Profit; BP Breaks Ground on Wind Farm; Reliance and Dreamworks in Talks; Lukoil Joins Up With Italy’s ERG; Wachovia Brings in Goldman Sachs; Dow Hikes Prices; Yahoo and Microsoft Back in Talks Shares of Eastman Kodak Co. (EK) rose the most in 20 years as it boldly announced it will buyback $1 billion of its stock using a tax refund. The refund comes from an audit of the company’s taxes from 1993 to 1998, Bloomberg reported. The company posted a first-quarter loss in April. Kroger Co. (KR), the largest chain of U.S. grocery stores, beat analysts’ first-quarter earnings by lowering prices on the shelves and offering gasoline discounts, Reuters reported. The Cincinnati-based company Kroger posted a profit of $386 million, or 58 cents per share, compared with a profit ...