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Denver Business News - Local Denver News | Denver Business Journal
View Breaking Local News Headlines in Denver from the Denver Business Journal. Access business resources, company profiles, business advice columns, local jobs and more.
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Western Union Q4 profit up 86%; CEO sees ‘challenges’ in 2012
The Western Union Co. posted sharply higher fourth-quarter profit Tuesday, with earnings in line with analysts’ expectations, but its CEO sounded a note of caution for 2012.
The Douglas County-based global money-transfer company (NYSE: WU) reported results for the quarter ending Dec. 31, 2011, and full-year 2011, after the markets closed Tuesday.
Western Union posted net income for the quarter of $452.3 million, or 73 cents a diluted share, up from $242.6 million, or 37 cents a share, in the same quarter of 2010...
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Eco-devo groups, Front Range Airport want unmanned aircraft site in Colorado
Economic development agencies and Front Range Airport are pushing for the federal government to put one of six U.S. unmanned aircraft test ranges in Colorado. The Metro Denver Economic Development Corp, The Greater Colorado Springs Chamber and EDC and the Front Range Airport Authority are working together on winning test range designation. The Federal Aviation Administration and U.S. Department of Defense plan to use test sites to explore how unmanned aircraft can be used in national airspace. “Language in the bill orders that potential sites take into consideration geographic and climatic diversity and ground infrastructure and research needs,” said Doug Quimby, of The Greater Colorado Springs Chamber and EDC, in a written statement...
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Open Range Communications moves to shift bankruptcy case to Ch. 7
Open Range Communications has asked a Delaware court to switch its Chapter 11 reorganization case to a Chapter 7 bankruptcy, saying it has no realistic chance to rehabilitate the business. The defunct Greenwood Village-based wireless broadband company filed for the change Monday, less than three weeks after it auctioned substantially all of the company’s assets to raise money. Open Range originally filed for Chapter 11 bankruptcy protection Oct. 6 in federal bankruptcy court in Delaware. The company’s filing to switch to Chapter 7 said that it’s unable to reach a settlement with either of its main funders — the U...
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UDR chief executive defends acquisitions strategy
On the heels of UDR Inc.’s fourth-quarter earnings report, Tom Toomey, the company president and CEO, answered market analysts who criticized the real estate investment trust’s acquisition strategy.
Toomey said the company’s 40 percent leverage position is adequate to handle the $1.2 billion in New York City acquisitions last year, despite some analysts’ opinion that the “aggressive external growth strategy” could bring “risk of dilution and volatility around new issue.”
UDR, a Highlands Ranch-based apartment operator (NYSE: UDR), reported its results Monday...
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Colorado stocks: Array BioPharma up 7.5%, Cimarex, EchoStar up 5%
The Dow and Nasdaq both scored modest gains Tuesday. In Colorado, Array BioPharma, Cimarex and EchoStar led actively traded gainers.
The Dow Jones Industrial Average finished the trading day at 12,878.2, up 33.07 points (0.26 percent).
The S&P 500 closed at 1,347.05, up 2.72 points (0.2 percent).
The Nasdaq Composite finished at 2,904.08, up 2.09 points (0.07 percent).
Among actively traded Colorado-based stocks, Array BioPharma Inc. (ARRY) led the day’s gainers percentagewise, up 7.54 percent (23 cents) to close at $3...
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