Tag Archives: Businessdesk

Wall Street dropped on disappointing earnings from companies including Morgan Stanley and eBay as well as the latest economic indicators suggesting a slowdown in the pace of the recovery. Shares of Morgan Stanley and eBay fell, last down 4.7 percent and 5.4 percent respectively, as they posted results that fell short of expectations. So did UnitedHealth Group, sending its shares …

New Zealand Oil & Gas has agreed to acquire interests in three offshore Taranaki permits from ASX-listed Octanex for US$12.5 million plus a share of seismic costs. The company will pay US$12.5 million for a 12.5 percent interest in PE51906 which holds the Makatu prospect and is expected to be drilled in the second half of next year. Octanex will …

Fletcher Building, the biggest company on the NZX, expects operating earnings to grow by as much as 22 percent in the 2013 financial year as new home construction accelerates and the firm keeps a lid on costs. The shares rose to $7.65, their highest level since October last year. The Auckland-based company sees operating earnings of between $560 million and …