Skip to: Content
Skip to: Site Navigation
Skip to: Search

December 1, 2008 9:55:25 AM CST


corporate earnings

corporate earnings news stories

1 - 20 of 64 Stories | 1 2 3 4 Next >>

MARKET Open

 Bears Reign in Early Trading 

Dow down triple digits again

(Newser) - Stocks were trudging downward again this morning, as investors turned a pessimistic eye towards upcoming earnings reports. The Dow was off 217 points a half-hour into the session, while the Nasdaq and S&P traced 33- and 20-point declines of their own. Those declines mirrored moves overseas, with European benchmarks shedding 2% by midday, and Tokyo’s Nikkei falling 3%. More »

More about:  Dow Jones stock market Goldman Sachs corporate earnings Starbucks Toll Brothers

MARKETS
(Newser) - Stocks got a modest bump at the opening bell today despite an ugly job report, as mixed earnings clouded the waters. The Dow rose 69 points, while the S&P and Nasdaq rose 0.7% and 0.5% respectively. Jobless claims took an unexpected spike last week, and the Wall Street Journal reports that Goldman Sachs is about to cut 10% of its workforce. More »

More about:  Dow Jones stock market corporate earnings markets third quarter earnings

MARKET opener

 Sour Earnings Sink Stocks 

Recession fears keep bears growling

(Newser) - Recession fears kept bears roaring today, as the Dow shed 230 points at the open on a spate of lousy third-quarter results. Wachovia posted a staggering $23.9 billion loss to lead a group of five gloomy blue chip reports, the Wall Street Journal reports. “We’ve seen a range of poor results lately,” said one market watcher, “and there is no reason why this is not set to continue.” More »

More about:  Financial Crisis Dow Jones stock market Apple recession corporate earnings markets Wachovia third quarter earnings

Wachovia Takes Massive
$23.9B 3rd Quarter Loss

Writedowns lead to $11.18 per share loss; Wells Fargo says merger on track

(Newser) - Wachovia reported losses of $23.9 billion in the third quarter, a whopping hit of $11.18 per share that blew by analysts’ estimates of a 2-cent-per-share loss, reports Bloomberg. But Wachovia’s loss—virtually all tied to mortgages or mortgage-related securities—may be Wells Fargo’s gain. More »

More about:  Financial Crisis corporate earnings Wachovia writedowns Wells Fargo & Co

MARKET open

 Stocks Dive on Poor Profits 

But as ever, trust this move as far as you can throw it

(Newser) - Downbeat earnings put the kibosh on yesterday’s outbreak of optimism on Wall Street, sending stocks down at the open. The Dow dropped 107 points, while the Nasdaq and S&P fell 1.7% and 1.4% respectively, the Wall Street Journal reports. Dow components DuPont, Caterpillar, and Pfizer all released dour guidance, with DuPont reporting a 30% net-income drop. More »

More about:  Dow Jones stock market credit market corporate earnings earnings forecast DuPont

MARKETS

Stocks Gain at Open After Yesterday's Plunge

...And if you have faith that the story won't change by 4:30, you probably fell hard for that 'bridge in Brooklyn' bubble

(Newser) - Stocks saw a modest bounce at the open this morning, with the Dow up 42 points after a half-hour, following yesterday’s titanic losses, the Wall Street Journal reports. The S&P and Nasdaq rose 0.5% and 1.32% respectively. Panic was staved off by some sound economic data, as new jobless claims dropped by 16,000 last week, beating analyst estimates, and several key lending rates declined. More »

More about:  Dow Jones stock market corporate earnings Dow

EARNINGS REPORTS

 Southwest 
 Loses $120M 
 on Bad Oil Bet 

Otherwise, quarter beat expectations

(Newser) - Southwest Airlines posted a $120-million third-quarter loss today, due almost entirely to a one-time $247-million charge on an oil bet gone wrong, the New York Times reports. Southwest aggressively locks in its fuel costs far in advance, which looked brilliant last year, as oil prices skyrocketed. But oil’s steep decline this quarter has turned the contracts toxic. More »

More about:  airline industry earnings reports corporate earnings oil prices Southwest Airlines third quarter earnings

earnings reports

Citi Losses Less than Expected; Merrill Drops $5B

Third quarter earnings show recovering bank, struggling brokerage

(Newser) - A pair of earnings reports from Citigroup and Merrill Lynch for the third quarter shows just how deeply wounded the big brokerage is, while painting a slightly brighter picture for the big bank, reports Bloomberg. Citi, the nation’s largest bank, beat analyst expectations with a net loss of $2.8 billion; Merrill, bought by Bank of America in September, lost $5.2 billion. More »

More about:  Financial Crisis Citigroup Merrill Lynch corporate earnings writedowns

MARKETS

 Stocks Trip Over Bad Econ Data 

Good results from Coke, JP Morgan drowned out

(Newser) - The bears came out on Wall Street this morning, sending the Dow down 181 at the bell, as a host of negative economic reports drowned out some positive third-quarter results. Retail sales were worse than expected in September, and several other indexes showed manufacturing activity down. The S&P and Nasdaq dropped 2.9% and 1.9% respectively. More »

More about:  Dow Jones stock market corporate earnings economic indicators third quarter earnings

(Newser) - JPMorgan Chase surprised analysts and brought some partly sunny news to a mostly gloomy Wall Street, reporting net income of $527 million, or 11 cents a share, despite mortgage-related writedowns of $3.6 billion and $640 million in losses from its takeover of Washington Mutual, reports the Wall Street Journal. Analysts had expected losses of 29 cents a share. More »

More about:  Financial Crisis subprime crisis JPMorgan Chase corporate earnings James Dimon

Investors, Companies Benefit by Accounting Switch: SEC

Move to international standard will require 'massive effort,' US firms say

(Newser) - The Securities and Exchange Commission sees a smoother ride for American companies, and investors, in its plan for the US to adopt international accounting standards, the Wall Street Journal reports—though the shift would be an expensive, “massive effort,” some say, requiring new training from business schools on up. Critics worry the international standards aren’t as precise and may cause confusion during the transition. More »

Earnings

Fannie Misses Estimates, Slashes Dividend

Stock drops 12% in early trading

(Newser) - Fannie Mae reported its fourth straight losing quarter today, Bloomberg reports, coming in $2.3 billion in the red and slashing its dividend. The $2.51-per-share loss far exceeded the 72-cent average predicted by analysts, much as Freddie Mac surprised investors two days ago. “Neither of these companies have properly provisioned for what we're heading into,” said one analyst. “This thing is going to get worse and last longer and deeper than they originally thought.” More »

More about:  Financial Crisis subprime crisis housing crisis Fannie Mae Freddie Mac corporate earnings second quarter earnings

Freddie Has 4th-Straight Loss as 2nd Quarter Charges Rise

Increase in foreclosures and associated fees, $1B writedown lead to $821M loss

(Newser) - Rising delinquencies and a still-skidding home market combined to make Freddie Mac’s second quarter losses three times worse than analysts predicted, reports Bloomberg . The government-backed mortgage enterprise lost $821 million, or $1.63, in the quarter, prompting it to also announce a third quarter slash in dividends from 25 cents to 5 cents a share. More »

More about:  Financial Crisis subprime crisis housing crisis Fannie Mae Freddie Mac corporate earnings

Earnings

Wachovia Posts $8.9B Loss Under New CEO

'Dismal' housecleaning quarter much worse than expected

(Newser) - New Wachovia CEO Robert Steel moved aggressively to staunch the bank's losses by taking a massive $8.9-billion hit in the second quarter and slashing its dividend to almost nothing, the New York Times reports. Steel had every reason to clean