Ingram Micro net rises, helped by legal pact
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Ingram Micro Inc. , the world's largest computer products distributor, posted a higher quarterly profit on Thursday, helped by a legal settlement and a lower tax rate.
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Ingram Micro will distribute several Google enterprise search tools and services.
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WASHINGTON -- The company that provided private interrogators at Abu Ghraib prison and elsewhere in Iraq yesterday reported a large jump in its earnings for the past year.
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Rising textbook sales and strong growth in international bond ratings at its Standard & Poorâs unit helped lift earnings to $452 million, the company said.
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The tech bellwether racks up a healthy rise in net income for the third quarter, despite taking a hit from a legal settlement.
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Health insurer UnitedHealth Group Inc. said Tuesday its fourth-quarter earnings climbed 3 percent, as growth in prescription services and Medicaid plans offset a smaller profit in its core health coverage division.
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IBM Corp. and plaintiffs challenging the legality of its pension plan agreed to a deal Wednesday that settles most claims and caps the company's potential liability at &#36;1.7 billion. The company previously had estimated that a settlement could cost up to &#36;6.5 billion.
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NEW YORK, September 27  - Ingram Micro Inc (IM.NYS) has reached a definitive agreement to buy Tech Pacific, an Australian IT product distributor, for about $493 million in cash, including debt assumptions.
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In a move the company says significantly strengthens its position in the growing Asia Pacific region, distributor Ingram Micro Inc.
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IBM and the rest of the tech industry might have a better year than most onlookers expected. IBM's third-quarter earnings rose 15% from a year earlier, to &#36;1.17 a share, excluding a one-time &#36;320 million charge to settle a lawsuit over its pension plan. That beat analysts' average estimate by 3 cents a share.
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Helped by sales of generic drugs, the pharmacy benefit manager lifted its full-year profit forecast, sending its shares higher.
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Corporate attorneys cite a jump in the use of outside law firms after e-discovery regulations went into effect last year.
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The company raises earnings guidance, boosting the stock.
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Microsoft Corp. said its fiscal first-quarter earnings rose 11 percent, beating analysts' expectations, as the software company benefited from stronger-than-expected computer and server shipments.
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Technology industry bellwether IBM has reported a healthy rise in net income in the third quarter, but its overall results were hampered by a $320m legal settlement related to its employee pension plan.
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Better margins yield much-improved earnings.
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InfoWorld - SAP reported an&#160;8 percent jump in its second-quarter net income on Thursday, helped by a sharp increase in revenue from new software licenses.