AP Business

Shares of ADC Telecommunications Inc. fell Friday after the company posted a net loss in the fourth quarter and warned that first-quarter earnings will come in lower than expected. ADC said sales in the first quarter should come in between $250 million to $275 million, with a loss of 15 cents to 5 cents per share including a non-cash amortization expense of 5 cents per share. Analysts polled by Thomson Reuters had been expecting a first-quarter profit of 11 cents per share on revenue of $274 million. While the first quarter is seasonally slower than the fourth, ADC said the decline will be sharper ... Read Full Story

Record profits. Job openings. Shareholders making money. It's not what you might think in Michigan, home to the country's highest unemployment rate, but a century-old company is in robust health thanks to achy, thifty Americans. Perrigo Co., the nation's largest manufacturer of generic over-the-counter medications, reported more than $61 billion in profit during its last quarter — a 60 percent spike from the same time last year. It's sales revenue hit $528 million, a 16 percent jump. It also adjusted its 12-month earnings forecast upward and boosted its shareholder dividend. "We feel very good about what the potential is because, unfortunately, people still get ... Read Full Story

Kansas' unemployment rate declined to 6.4 percent in October, though a state labor analyst cautioned Friday that the job market remains weak. The new report revealed there were 22,815 initial claims for unemployment benefits in October, an increase of 5,300 from September and 5,500 more claims than were filed in October 2008. The 6.4 percent jobless rate was down from a revised 6.8 percent in September. For the month, there were 11,700 new jobs in Kansas, rising to 1.34 million. But the figure was still 57,700 below October 2008. Most of the gains were in seasonal jobs, though some growth was seen in government, ... Read Full Story

Nevada's unemployment rate declined in October for the first time in four years, but economists Friday cautioned that while the figures are encouraging, they're more a reflection of a shrinking job market than job creation. The statewide jobless rate dropped to 13 percent in October, down from a record 13.3 percent a month earlier, according to the state Department of Employment, Training and Rehabilitation report. Still, Nevada's jobless rate remains the second-highest in the nation behind Michigan and nearly 3 percentage points above the national average of 10.2 percent. In Nevada's urban hubs, the jobless rate dropped to 13 percent from 13.9 percent in ... Read Full Story

Shares of Aruba Networks Inc. fell Friday after the company reported fiscal first-quarter results above analyst expectations, but it may not have been as much of a beat as Wall Street hoped. Aruba Networks shares fell 82 cents, or 8.6 percent, to $8.76 in afternoon trading. Aruba Networks said late Thursday that it lost 28 cents per share in the most recent quarter. It earned 4 cents per share when excluding expenses like a $19.8 million legal settlement; analysts polled by Thomson Reuters expected a profit of 3 cents per share. Revenue rose 10 percent to $57.6 million, which was higher than the $56 ... Read Full Story