Popular discount drug websites that do not require prescriptions challenge Walgreens, Drugstore.com and CVS Pharmacy for online pharmacy sales.

Facing voter anger over mounting budget deficits, President Barack Obama will ask Congress to freeze spending for some domestic programs for three years beginning in 2011, administration officials said Monday. Separately, Obama unveiled plans to help a middle class "under assault" pay its bills, save for retirement and care for kids and aging parents.

Continue reading Obama to Seek Freeze on Part of U.S. Budget

Obama to Seek Freeze on Part of U.S. Budget originally appeared on DailyFinance on Mon, 25 Jan 2010 21:04:00.

Filed Under: Economy

The recession has undermined the pilings supporting many once-stable organizations, ranging from financial institutions to restaurants to newspaper publishers. Now the economy may claim another victim: The Philadelphia Orchestra. The 110-year old cultural mainstay may declare bankruptcy after ticket sales dwindled this season and its endowment failed to meet its goal, according to the Philadelphia Inquirer.

Continue reading Sad Violins: Philadelphia Orchestra May File for Bankruptcy

Sad Violins: Philadelphia Orchestra May File for Bankruptcy originally appeared on DailyFinance on Mon, 25 Jan 2010 20:30:00.

Filed Under: Economy, People, Media

Amgen (AMGN), the world's largest biotechnology company, reported fourth-quarter results that missed Wall Street's expectations, as a 2% increase in sales failed to translate into a stronger bottom line. The quarter was a somewhat expected disappointment, as its adjusted earnings per share decreased 1% to $1.05 per share, below analyst estimates of $1.16 per share, according to Thomson Reuters.

Continue reading Biotech Giant Amgen Misses Street's Expectations

Biotech Giant Amgen Misses Street's Expectations originally appeared on DailyFinance on Mon, 25 Jan 2010 18:45:00.

Filed Under: Earnings, Amgen

It's a case of dueling surveys. Two polls released last week and one issued Monday set out to probe how investors view President Barack Obama's economic policies. But they provide contradictory readings.

One released by Bloomberg News says 77% of its subscribers -- mostly high-income individuals in the financial services sector -- think President Obama is against business and can't manage a financial crisis. A USA Today/Gallup poll was also downbeat, finding that 34% of Americans believe it will be four or more years before the economic recovery starts. But not everyone in the Gallup survey, which reached similar findings in July, is ready to stick their heads in the oven.

Continue reading Investor Sentiment Surveys About Obama Can't All Be Right

Investor Sentiment Surveys About Obama Can't All Be Right originally appeared on DailyFinance on Mon, 25 Jan 2010 18:00:00.

Filed Under: Economy, Investing, JP Morgan Chase

Apple (AAPL) handily topped Wall Street's expectations Monday, as strong holiday sales delivered the most profitable quarter in the company's nearly 30-year history. Apple reported revenue of $15.7 billion, a 32% increase from $11.9 billion one year ago, along with a 50% profit jump, spurred by strong sales of its Mac computers and iPhones, which doubled. "Were thrilled to report our best quarter ever," Apple CFO Peter Oppenheimer told a post-report conference call.

Continue reading Apple Reports Best Quarter Ever as iPhone Sales Double

Apple Reports Best Quarter Ever as iPhone Sales Double originally appeared on DailyFinance on Mon, 25 Jan 2010 17:30:00.

Filed Under: Technology, Apple

VMWare (VMW) is soaring after-hours on a strong earnings report. As I wrote earlier, analysts expected it to earn 26 cents a share excluding stock-based compensation and other items, but it exceeded those expectations by 19% -- earning 31 cents a share. But what seems to be boosting market enthusiasm is a very bullish revenue forecast.

Continue reading VMWare Rises After-Hours on Blowout Revenue Forecast

VMWare Rises After-Hours on Blowout Revenue Forecast originally appeared on DailyFinance on Mon, 25 Jan 2010 16:30:00.

Filed Under: Company News, Technology, Earnings

Media tycoon John Malone has used aggressive deal-making to build Liberty Global (LBTYA) into a $6.5 billion company with cable operations serving 17 million customers across 14 countries, most of them in Europe, but including Australia, Chile and Japan.

Continue reading Liberty Global's Malone Sells Japanese Cable Stake for $4 billion

Liberty Global's Malone Sells Japanese Cable Stake for $4 billion originally appeared on DailyFinance on Mon, 25 Jan 2010 16:20:00.

Filed Under: Company News, Media

Flush with easy loans to fuel buyouts, American private equity funds were famously compared to locusts by foreign workers and government officials as they marched overseas during the credit bubble.

Now, as the private equity industry attempts to pick itself up in the wake of the credit crisis, it will face another major obstacle. Under President Obama's new proposals, banks may be forbidden from investing in private equity funds. The plan would cut off a major source of funding for the already battered private equity industry while doing little to make banks safer.

Continue reading Obama's Banking Plan Could Batter Private Equity, Weigh on Markets

Obama's Banking Plan Could Batter Private Equity, Weigh on Markets originally appeared on DailyFinance on Mon, 25 Jan 2010 15:45:00.

Filed Under: Economy

On Monday, Tishman Speyer Properties announced its decision to give up ownership of Manhattan's massive Peter Cooper Village (PCV) and Stuyvesant Town housing complexes. As this project, the biggest single-property real estate deal in history, imploded, it became a symbol of an overloaded real estate market bloated on a glut of hype, money and boundless optimism.

Continue reading Biggest Real Estate Deal in History Goes Belly-Up

Biggest Real Estate Deal in History Goes Belly-Up originally appeared on DailyFinance on Mon, 25 Jan 2010 15:30:00.

Filed Under: Economy, People, Investing, Real Estate