Fairchild Semiconductor reports net income gains

Fairchild Semiconductor is reporting 2010 net income of $153 million, $1.20 cents a share, compared with a net loss of $60 million, 49 cents per share, in 2009. 

Fairchild, which makes semiconductors in South Portland, said fourth-quarter 2010 income was $51 million, 40 cents a share, up from $13.1 million, 10 cents a share, in the fourth quarter of 2009.

Sales in the fourth quarter were $397.7 million, 12 percent higher than in the same period last year.

“We grew sales in our higher margin mobile power, switch and high performance MOSFET businesses targeted to the handset and tablet market,” Fairchild CEO and President Mark Thompson said.

Economy will strengthen, leading indicators suggest

A private research group’s gauge of future economic activity rose in December, suggesting the economy will strengthen over the next few months.

The Conference Board said Thursday that its index of leading economic indicators rose 1 percent after a 1.1 percent increase in November. Those are the biggest increases since March, when the index jumped 1.4 percent.

Economists polled by FactSet had expected a lower reading of 0.6 percent for December.

The measure had stalled this summer as Europe’s debt crisis and a weak jobs market hit U.S. stocks. 

Morgan Stanley earnings show 60 percent increase

Morgan Stanley says its earnings increased 60 percent during the last three months of 2010 on strong investment banking results.

Morgan Stanley said Thursday its net income available to shareholders was $600 million, or 41 cents a share, on revenue of $7.8 billion in the fourth quarter. That was more than analysts’ expectations of 40 cents a share on $7.4 billion in revenue, according to analysts surveyed by FactSet.

The investment bank paid $16 billion in bonuses and fees to its employees for the year, up from $14 billion a year ago. 

Group considers selling off Arby’s restaurant business

Wendy’s/Arby’s Group Inc. says it is considering selling its Arby’s business.

The Atlanta restaurant operator has experienced softness at both its Wendy’s and Arby’s locations, but Arby’s has been suffering because its sandwiches are more expensive than many other fast-food offerings.

Chairman Nelson Peltz said Thursday that the company believes the best way to maximize shareholder value is to concentrate its efforts on Wendy’s. 

Overhaul coming to board at Hewlett-Packard Co.

Hewlett-Packard Co. is overhauling its board of directors.

Four of HP’s current board members aren’t standing for re-election at HP’s annual meeting in March: Joel Hyatt, John Joyce, Bob Ryan and Lucille Salhany.

The world’s biggest technology company by revenue has taken heat for the ouster of former CEO Mark Hurd six months ago in the wake of a sexual harassment scandal. 

GM announces new leader for vehicle development

General Motors has promoted veteran engineer and human resources executive Mary Barra to lead its vehicle development efforts.

She replaces Tom Stephens, who Wednesday was moved to a newly created chief technology officer post.

New GM CEO Dan Akerson has said he wants to speed up product development to better compete in global auto markets. He says the company lost a year of vehicle development while it was in bankruptcy protection.