Strong earnings from AT&T, 3M lift Dow average tops business roundup
18.05.12
Muscular U.S. corporate earnings and higher spirits in Europe propelled U.S. stocks higher Tuesday.
Five of the 30 big companies that make up the Dow Jones industrial average rose more than 1.5 percent. AT&T led the gains after reporting better-than-expected profit. Verizon, AT&T's main rival, was close behind. 3M rose sharply after delivering an impressive quarterly report. GE and DuPont rounded out the list of top gainers.
Traders punished Apple after AT&T said it activated far fewer of Apple's iPhones. Apple fell two percent, dragging the Nasdaq composite average to a lower close. Apple shares more than recovered from the day's losses in late trading after the company announced another record quarterly profit that easily beat analysts' estimates.
Chocolate maker Hershey and regional bank Regions Financial helped boost the Standard & Poor's 500 index after both companies beat Wall Street's expectations.
Earnings reports are blowing the tops of analysts' expectations, providing temporary relief for markets roiled by fears about Europe, said Sam Stovall, chief equity strategist with financial-data firm S&P Capital IQ. He said analysts had expected only a half-percent profit increase for the S&P 500 this quarter. Based on the results so far, he said, the gain could be ten times bigger.
Source: New Philadelphia Times Reporter
Charitable doctor in Africa loses Christian Trust
18.05.12
Transcript CHRIS UHLMANN, PRESENTER: A boardroom brawl that's crippled one of Australia's favourite charities has come to a head with celebrated doctor Catherine Hamlin moving to cut ties with the organisation that raises money for her work.
Dr Hamlin's hospital has saved the lives of thousands of African women. But as 7.30 recently revealed, its fundraising efforts have stalled due to a bitter split between Dr Hamlin and the Australian board.
Sarah Dingle and Tracy Bowden prepared this report.
TRACY BOWDEN, REPORTER: Ethiopian Farmer Temima Ousman is recovering from a life-saving operation. After the birth of her 10th child she developed an obstetric fistula, a dangerous condition which results in incontinence. For a year she lived with the pain and the shame. Finally, she's found relief after surgery performed by Dr Catherine Hamlin and her team.
But as 7.30 revealed two weeks ago, the program which helped Temima and the other women in this ward has become
Source: ABC Online