Industry News

  • Apple said its quarterly profit rose 13%, and it predicted record holiday sales, as strong demand for its new larger-screen iPhones helped to overcome sluggish iPad sales.

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  • IBM, two decades after successfully shifting its emphasis to software and computer services from hardware, is showing signs of needing another overhaul.

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  • CVS is offering a prescription-drug plan that charges patients more if they buy their medications at pharmacies that sell tobacco products, a plan that could benefit the company’s own network of drugstores.

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  • Total is expected Wednesday to name a successor to CEO Christophe de Margerie, who died in a Moscow plane crash. Mr. de Margerie moved the company away from reliance on safe but depleted European fields, to riskier, potentially more profitable climes.

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  • Coca-Cola Co. continues to flail as soda consumption declines in the U.S., China, Brazil and elsewhere. Third-quarter profit fell 14%, volume targets were missed, and Coke lowered its long-term revenue target and warned it will miss profit targets.

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  • An activist adviser for union pension funds is pressing Walgreen Co. to postpone seeking shareholder approval of a major takeover until directors investigate allegations raised by former Chief Financial Officer Wade Miquelon in a defamation lawsuit.

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