Deals of the Hour

Trying to find out what's the deal with the world, tracking what's on sale and who's talking about it on Twitter. Update hourly.

Deals of the Hour / October 21, 2010, 8:40 am

Wells, BofA taking different paths

Wells Fargo's earnings report Wednesday revealed the very different path the San Francisco bank has pursued vs. its former hometown rival Bank of America. Both banks picked up more than their share of trouble as the housing marked turned from boom to ... (Source: Birmingham Business Journal 2010-10-21T01:26:35Z)

Afghan peace council wants Saudi Arabia to help broker resolution with the Taliban

KABUL, Afghanistan - The Afghan government's newly formed peace council wants Saudi Arabia to play a key role in efforts to reconcile with the Taliban and find a political resolution to the war. Qiyamuddin Kashaaf, spokesman for the 70-member High Peace ... (Source: Minneapolis Star Tribune 2010-10-21T11:35:02Z)

Finance Ministers, Bank Governors Meet to Avert Currency War

Finance ministers and central bank governors from the 20 largest economies are gathering in South Korea as concerns grow about the possibility of a currency war. Starting Friday, the economic policy makers of the top 20 economies will spend two days trying ... (Source: Voice of America 2010-10-21T12:46:37Z)

Saskatchewan Said to Reject BHP Infrastructure Offer

(Updates with shares in fifth paragraph.) Oct. 20 (Bloomberg) -- Saskatchewan rejected an offer of C$370 million ($358 million) of infrastructure investment from BHP Billiton Ltd., which is trying to win support for its $40 billion bid for Potash Corp. of ... (Source: BusinessWeek 2010-10-20T05:16:50Z)

Novartis says Q3 profit up 10 percent to $2.32 bln

Swiss pharmaceutical company Novartis AG posted a 10 percent rise in third-quarter net profit Thursday thanks to strong sales of new products including meningitis vaccine Menveo, and added revenue from recently acquired eye care company Alcon. The maker of ... (Source: AP - msnbc.com 2010-10-21T14:12:31Z)

Yahoo! Posts EPS Gain, Lackluster Sales

Yahoo! posted earnings of 29 cents a share, which included some gains related to the selling of companies like HotJobs . Without the boost, EPS came in at 17 cents, which was above the Wall Street consensus estimates calling for 15 cents. In the year-ago ... (Source: Street.Com 2010-10-19T21:31:32Z)

Yahoo third quarter profit doubles

SAN FRANCISCO (AP) — Yahoo Inc. shuffled through another quarter of sluggish growth, a performance that may further test the patience of the Internet company's already restless shareholders. SAN FRANCISCO (AP) — Yahoo Inc. shuffled through another ... (Source: Jamestown Sun 2010-10-20T13:09:16Z)

Biz Break: Meet Apple's new MacBook Airs; plus: an app store for your Mac

Today: Apple CEO Steve Jobs shows off new MacBook Air notebooks and software that makes the Mac work more like an iPad or iPhone. Plus: Netflix, eBay earnings. Apple's new MacBook Air notebooks Apple CEO Steve Jobs today showed off the Cupertino Mac and "i ... (Source: San Jose Mercury News 2010-10-20T21:08:53Z)

Yahoo! Posts Positive 3Q

Yahoo! Inc. ( YHOO ) reported third quarter earnings that beat the Zacks Consensus estimate by 2 cents. This excluded a gain of 14 cents a share from the sale of HotJobs during the quarter. Yahoo shares opened 2.19% higher this morning and have continued ... (Source: Seekingalpha.com 2010-10-20T19:35:49Z)

Novartis's Offer for Alcon Is More Attractive Now, Jimenez Says

Oct. 21 (Bloomberg) -- Novartis AG indicated Alcon Inc. shareholders should take another look at its $11.5 billion buyout offer now that an increase in the Swiss drugmaker's share price and a rally in the franc have lifted the value of the bid. Novartis ... (Source: BusinessWeek 2010-10-21T08:14:36Z)

WRAPUP 2-Saskatchewan sees no net gain from BHP-Potash deal

REGINA/OTTAWA, Oct 20 (Reuters) - Saskatchewan dismissed on Wednesday the idea that a hostile offer from mining giant BHP Billiton ( BHP.AX ) for provincial crown jewel Potash Corp ( POT.TO ) would bring net benefits, playing up an argument that the ... (Source: Reuters 2010-10-20T22:27:37Z)

Iran signs 11 energy deals with Venezuela

TEHRAN, Oct. 21 (UPI) -- Eleven memorandums of understanding in the energy sector were signed with the Venezuelan government, Tehran announced Thursday. Venezuelan President Hugo Chavez arrived in the Iranian capital early this week to meet with his ... (Source: United Press International 2010-10-21T12:10:49Z)

Novartis's Alcon Offer More Attractive, Jimenez Says

(Updates to add Momenta share price in 16th paragraph.) Oct. 21 (Bloomberg) -- Novartis AG indicated Alcon Inc. shareholders should take another look at its $11.5 billion buyout offer now that an increase in the Swiss drugmaker's share price and a rally ... (Source: BusinessWeek 2010-10-21T13:36:43Z)

China Goal to Avoid Japan Plaza Legacy Wards Against G-20 `Hyundai Accord'

China's reluctance to deliver "shock therapy" through a faster appreciation of the yuan may be a bid to avoid repeating history: Japan's. As Group of 20 finance chiefs begin talks today in Gyeongju, South Korea, China is deflecting foreign pressure ... (Source: Bloomberg 2010-10-21T15:09:47Z)

Yahoo's third-quarter gain may not satisfy shareholders

Yahoo Inc. shuffled through another quarter of sluggish growth, a performance that may further test the patience of the Internet company's already restless shareholders. The third-quarter results announced Tuesday seem likely to intensify the pressure on ... (Source: Tulsa World 2010-10-20T10:17:29Z)

Southwest Airlines posts $205M profit for 3Q

Southwest Airlines Co. is making money as more people travel on the nation's largest discount airline. Southwest said Thursday it earned $205 million in the late-summer third quarter. Traffic was up about 5 percent, which along with higher average fares ... (Source: AP - msnbc.com 2010-10-21T15:24:06Z)

Iran, Venezuela urge for new world order

Iran and Venezuela urged for new global order whereby changes could be brought about to the world, the official IRNA news agency reported Thursday. During a meeting with his Venezuelan counterpart Hugo Chavez on Wednesday, Iranian President Mahmoud ... (Source: People's Daily Online 2010-10-21T15:16:56Z)

Analysis: Venezuela's Chavez baits foes with nuclear deal

Venezuelan President Hugo Chavez's plans for a Russian-built nuclear power plant are unsettling his foes, but look more like geopolitical grandstanding than anything concrete at this stage. On an international tour encompassing several of the world's ... (Source: msnbc.com 2010-10-19T16:16:35Z)

Yahoo's 3Q earnings more than double on HotJobs sale, revenue rises by less than 2 percent

SAN FRANCISCO (AP) — Yahoo Inc. shuffled through another quarter of sluggish growth, a performance that may further test the patience of the Internet company's already restless shareholders. The third-quarter results announced Tuesday also seem likely to ... (Source: Chicago Tribune 2010-10-19T23:18:55Z)

US seeks Pakistan support for Afghan talks

W ASHINGTON — The Obama administration says Pakistan should support Afghanistan's peace talks with the Taliban and is pressing Pakistan to take stronger military action against militant groups sheltering within its borders. State Department spokesman P ... (Source: Boston Herald 2010-10-21T14:33:59Z)

Southwest Airlines optimistic about Q4 after third-quarter earnings of $205 million 7:28 AM CT

Ending its third-quarter losing streak, Southwest Airlines Co. said today it earned $205 million in the three months ended Sept. 30. The Dallas-based carrier also expressed optimism about the current quarter, saying that October was going well. "Our ... (Source: Dallas Morning News 2010-10-21T12:32:18Z)

BofA mortgage woes trigger downgrades

REUTERS - Accusations that Bank of America inappropriately bundled mortgages into more than $47 billion in bonds prompted some Wall Street analysts to downgrade the stock, even after the biggest U.S. bank had posted better-than-expected quarterly earnings ... (Source: Reuters India 2010-10-21T02:52:29Z)

Afghan peace council to offer concessions to Taliban

Afghanistan's new peace council said on Thursday it would be willing to make concessions to bring insurgents to the negotiating table, but repeated Kabul and Washington's longstanding demand that they renounce violence. Inducements to tempt fighters back ... (Source: msnbc.com 2010-10-21T13:00:56Z)

Southwest Airlines earns $205 million in 3Q profit as traffic rises on low-fare carrier

DALLAS (AP) — Southwest Airlines Co. is making money as more people travel on the nation's largest discount airline. Southwest said Thursday it earned $205 million in the late-summer third quarter. Traffic was up about 5 percent, which along with higher ... (Source: Chicago Tribune 2010-10-21T12:53:46Z)

Asian Stocks Decline on China Mobile Profit, Hana Share Sale; Dollar Rises

Asian stocks fell as China Mobile Ltd. reported worse-than-estimated profit and Temasek Holdings Pte sold shares in Hana Financial Group Inc. The dollar strengthened against 12 of 16 counterparts. Five stocks declined for every four that fell in the MSCI ... (Source: Bloomberg 2010-10-21T03:35:26Z)

Apple to bring iPhone features to Mac

Apple CEO Steve Jobs said Wednesday the company will open an app store for its Macintosh computers and bring the company's FaceTime video-calling software to the Mac, the Mercury News reports. Jobs announced that the next version of its operating system ... (Source: Birmingham Business Journal 2010-10-21T13:51:02Z)

Freddie Mac's Rate Survey; FRBNY Suing BofA; Loan Buybacks; NMLS & Credit Reports; FHA ...

Pity the poor mortgage originator, who probably forgets their anniversary date with their spouse, but somehow has probably stored in their brains what all these abbreviations stand for: CFPB, FNMA, FHLMC, FHA, VA, USDA, RHS, GNMA, MBS, DU, LP, HUD, TARP ... (Source: MortgageNewsDaily.com 2010-10-20T14:20:51Z)

Yahoo profit doubles on cost-cutting, revenue still lackluster

SAN FRANCISCO — Yahoo shuffled through another quarter of sluggish growth, a performance that may further test the patience of the Internet company's already restless shareholders. The third-quarter results announced Tuesday also seem likely to intensify ... (Source: USA Today 2010-10-19T22:28:48Z)

Canada's Saskatchewan Said to Reject BHP Infrastructure Offer

Oct. 20 (Bloomberg) -- Saskatchewan rejected an offer of C$370 million ($360 million) of infrastructure investment from BHP Billiton Ltd., which is trying to win support for its $40 billion bid for Potash Corp. of Saskatchewan Inc., according to an e-mail ... (Source: BusinessWeek 2010-10-20T11:50:32Z)

TechBytes: Apple's New Mac Products

Apple is bringing some of the magic from the iPhone and iPad to its Mac computers. On Wednesday, CEO Steve Jobs unveiled a new operating system and app store for Macs. The new software will bring a similar look and many of the same multi-touch features ... (Source: ABC News 2010-10-21T13:36:43Z)

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