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The House of Representatives passed a bill Friday that would remove the 40-year-old ban on exports of U.S. crude oil. But the legislation faces an uphill battle in the Senate and the threat of a veto from President Obama. The bill, sponsored by Rep. Joe Barton, R-Texas, passed 261-159. But in the Senate, Democrats have largely avoided the issue. Even Senate Majority Leader Mitch McConnell, R-Ky., hasn't appeared eager to act on a
Under Armour (UA) led the pack with impressive athletic footwear sales gains last week, while total athletic shoe sales lost momentum. In the week ended Oct. 3, total athletic footwear sales "decelerated sharply" to an 0.6% increase from a year earlier, according to a report by Deutsche Bank analyst Dave Weiner, citing data from market researcher SportsScanInfo. Under Armour, which has an IBD Composite Rating of 85 out of a possible 99, saw the
A potential merger between the world's biggest beer manufacturers might have taken another step backward Friday after SABMiller met with investors to outline its strength as an independent company and ward off a takeover attempt by bigger rival Anheuser-Busch InBev (BUD), the AP reported. The meeting reportedly focused on SABMiller's accelerating growth as well as a cost-cutting program aimed at producing $1.05 billion in savings by March 2020.
Stocks made some welcome gains this week after a bruising couple of months. Senior management at some top companies such as Apple (AAPL), Twitter (TWTR), GoPro (GPRO) as well as the top executive at Yahoo (YHOO) were in a buying and selling mood when it came to their own businesses' shares. Gilead Sciences (GILD) Chairman and CEO John Martin on Monday announced the planned sale of 150,000 shares for $14.6 million. Gilead President and Chief
American Airlines' (AAL) stock is feeling the wind beneath its wings Friday after the company said September traffic was up 7.2% and narrowed its pretax margin guidance to the upper end of its range. The airline now expects its Q3 pretax margin, minus items, to be 17%-18%, up from last month's issued guidance for 16%-18%. American shares closed up 6.7% on the stock market today. Capacity rose 3.7%, and passenger load factor improved to 82.7% from