Target’s profits fell 46 percent in the fourth quarter, dropping from $1.47 per share to $0.81 per share; Target attributed $0.40 of the loss to its Canadian segment and $0.02 per share to the data breach.
Banking + Finance
The legislative session that begins Tuesday will focus on the recent bonding bill, the minimum wage, business-to-business taxes, and the state’s projected budget surplus.
St. Francis Campus Credit Union is the subject of a federal investigation, and its assets have been acquired by the larger Central Minnesota Credit Union.
3M said its planned acquisition of Treo Solutions will benefit its health information systems business, which provides software and consulting services to health care clients.
Snap Agency has bought all remaining assets from Atomic Playpen, which went out of business.
The semiconductor equipment manufacturer recently adopted a shareholder rights plan in an attempt to pay lower income taxes by “carrying over” its $76 million in losses.
Tyson Foods, a competitor of Minnesota's Hormel, has reportedly made a bid to acquire Minnetonka-based Michael Foods.
The online educator’s new enrollment fell 6.8 percent in its most recent quarter, and its revenue was down about 15 percent.
After selling $26 million in bonds to finance a broadband network, the City of Monticello has been unable to repay investors; a new lawsuit has now been filed, as expected, and will be resolved if bondholders approve a settlement.
The Minnesota Chamber of Commerce and national employer groups responded both positively and negatively to the second delay of one of the major requirements of the Affordable Care Act.
The Minneapolis-based biotech company hired James Hippel to replace Greg Melsen, who served shortly as interim CEO left the company after it named a permanent replacement.
While Buffalo Wild Wings saw a 25 percent increase in profit and C.H. Robinson saw a 65 percent decrease, the price of both companies’ stocks dropped Wednesday.
Target Chief Financial Officer John Mulligan said Tuesday that the malware, which infiltrated the retailer’s point of sale system, remained on a select number of registers for three days after the company said it had eradicated the problem.
Best Buy and Ameriprise Financial made Bloomberg’s list of top 10 most-disappointing stocks based on their poor January performance following a strong 2013.
The SEC said hundreds of stocks, including at least two from Minnesota, likely belong to dormant companies and are prime targets for fraud.
Strong cash flow is a critical element for obtaining financing in 2014.
The Dolan Company’s shares will no longer be traded on the New York Stock Exchange; they’re moving to the “over-the-counter” marketplace.
Although Cardiovascular Systems announced a loss of nearly $10 million for its second quarter, its stock was trading up 19.1 percent at $35.04 per share Thursday morning.