Details have emerged of the sexual harassment allegations that led to the resignation of former Hewlett-Packard (NYSE:HPQ) CEO Mark Hurd. Jodie Fisher, the former HP marketing contractor who made the allegation, claimed she lost work from the company because she did not have sex with Hurd, Reuters reported without naming its sources. Hurd stepped down earlier this month after the company accused him of filing false expense claims involving Fisher. An investigation ordered by the company’s board found no evidence of sexual harassment. The catalyst for Hurd’s departure was when the board decided to disclose the sexual harassment allegation, Reuters reported. –Daily Finance
BJ’s Wholesale Club (NYSE:BJ) said its fiscal second-quarter net income rose to $35.8 million, or 67 cents a share, from $35.1 million, or 64 cents a share in the year-ago period. Sales for the three months ended July 31 grew 8.6% to $2.7 billion. Analysts, on average, expected the warehouse club retailer to earn 73 cents a share, according to FactSet Research. Same-store sales for the quarter rose 4.4%, including gasoline. The company lowered its earnings outlook to a range of $2.40 to $2.50 a share, compared to earlier projections of $2.58 to $2.68 a share. It also now expects net sales to increase 8% to 10% for the full fiscal year, as opposed to the 9.2% to 11.2% sales growth previously provided. –MarketWatch
BHP Billiton (NYSE:BHP), the world’s largest mining company, made a hostile $40 billion takeover offer for Potash (NYSE:POT), seeking to become the biggest fertilizer producer. BHP is offering $130 in cash for each Potash Corp. share, the Melbourne-based company said today in a statement to the Australian stock exchange. Potash, based in Saskatoon, Saskatchewan, yesterday said it rejected an initial approach at that price because it was “grossly inadequate.” Potash Corp. rose to $143.17 in New York trading yesterday, indicating BHP Chief Executive Officer Marius Kloppers, 47, may have to raise his bid to win over investors. Rising food demand and adverse weather have driven up prices for corn, soybeans and wheat as much as 40 percent since June, and potash use may rise at least 10 percent next year, Potash CEO Bill Doyle, 60, said. -Bloomberg
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