Oracle pays $1.5 billion for RightNowLarry Ellison just paid $1.5 billion to secure a place in the cloud. Ellison's Oracle Corp. on Monday unveiled a deal to acquire RightNow Technologies Inc., expanding its cloud computing arsenal, three weeks after rival Salesforce.com sought to minimize the tech giant's efforts in the major corporate IT trend. Shares of RightNow soared 19 percent to close at $42.94 after Oracle, of Redwood Shores, Calif., announced the pact with Bozeman, Mont.-based RightNow for $43 a share. Oracle shares gained 2.3 percent to close at $32.87.
Insurer Cigna to buy HMO HealthspringCigna Corp., the fifth-largest U.S. insurer, agreed to buy Healthspring Inc., a health-maintenance organization, for $3.8 billion in cash to triple the number of Medicare customers it serves. Investors in Franklin, Tenn.-based Healthspring will receive $55 a share. The offer from Bloomfield, Conn.-based Cigna represents a 37 percent premium over Healthspring's Friday closing price.
Murdoch sons felt shareholders' wrathNews Corp.'s shareholders registered a significant protest vote in the wake of a phone-hacking scandal in Britain, with more than a third of votes cast going against re-election of Rupert Murdoch's sons James and Lachlan to the company's board. About 35 percent voted against News Corp. International CEO James Murdoch, who approved payments to hacking victims, and 34 percent voted against Lachlan Murdoch. About 14 percent of shares were cast against company CEO Rupert Murdoch.
Mattel to purchase Hit EntertainmentMattel has agreed to buy the company behind Thomas the Tank Engine and Bob the Builder for $680 million in cash, the toy maker's biggest acquisition in a decade. The owner of Barbie, Hot Wheels and Fisher Price toys announced Monday that it is buying Hit Entertainment from a consortium led by private equity firm Apax Partners. The deal is expected to close next year.
Oil driller to pay $12K for deaths of 12 birdsOne of seven oil companies charged with killing migratory birds during drilling operations in North Dakota has agreed to plead guilty and pay $12,000. Slawson Exploration Co. Inc., of Wichita, Kan., was charged under the Migratory Bird Treaty Act with for killing 12 birds that died after allegedly landing in oil waste pits in western North Dakota from May 6 through June 20. Under a plea agreement filed in federal court Monday, Slawson will pay $12,000 -- or $1,000 per bird -- to the nonprofit National Fish and Wildlife Foundation.
Kimberly-Clark profit falls 8 percentRising costs led Kimberly-Clark Corp., maker of Kleenex, Huggies and other household brands, to report an 8 percent decline in third-quarter net income Monday. It also cut its revenue outlook and the high end of its earnings outlook. Like many companies, Kimberly-Clark is struggling with higher costs for oil, wood, pulp and other materials it needs to make and transport its products. To make up for those higher costs, Kimberly-Clark has raised prices on some products. Net income fell to $432 million, or $1.09 per share. That was down from $469 million, or $1.14 per share, last year. Adjusted earnings of $1.26 per share were in line with expectations of analysts polled by FactSet.
Caterpillar Inc. beats estimatesThe world's largest construction and mining-equipment maker posted third-quarter profit and sales Monday that topped analysts' estimates as demand rose for shovels and drills used to dig up metals. Net income climbed 44 percent to $1.14 billion, or $1.71 a share, from $792 million, or $1.22, a year earlier, Peoria, Ill.-based Caterpillar said in a statement. The average of 15 analysts' estimates compiled by Bloomberg was for $1.57. Sales increased 41 percent to $15.7 billion from $11.1 billion, compared with the $14.9 billion average of analysts' estimates. The shares climbed as much as 5.7 percent in New York.The company said its order backlog is at an all-time high and plans to increase production levels for several products.
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