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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: corporate earnings

corporate earnings stories: 100 news summaries

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MARKET open

 Stocks Dive on Poor Profits 

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

Oct 21, 08 8:51 AM CDT
(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... More »

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stock market • Dow Jones • corporate earnings • DuPont • credit market • earnings forecast

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

Oct 16, 08 8:57 AM CDT
(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... More »

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stock market • Dow Jones • corporate earnings • Dow

EARNINGS REPORTS

 Southwest 
 Loses $120M 
 on Bad Oil Bet 

Otherwise, quarter beat expectations

Oct 16, 08 7:36 AM CDT
(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... More »

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airline industry • earnings reports • corporate earnings • Southwest Airlines • third quarter earnings • oil prices

earnings reports

Citi Losses Less than Expected; Merrill Drops $5B

Third quarter earnings show recovering bank, struggling brokerage

Oct 16, 08 7:20 AM CDT
(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.... More »

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Citigroup • Merrill Lynch • corporate earnings • writedowns • financial crisis

MARKETS

 Stocks Trip Over Bad Econ Data 

Good results from Coke, JP Morgan drowned out

Oct 15, 08 9:02 AM CDT
(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... More »

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stock market • Dow Jones • economic indicators • corporate earnings • 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.... More »

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corporate earnings • subprime crisis • James Dimon • JPMorgan Chase • financial crisis

Investors, Companies Benefit by Accounting Switch: SEC

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

Aug 28, 08 9:50 AM CDT
(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... More »

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SEC • accounting • corporate earnings • Financial Accounting Standards Board • International Financial Reporting Standards

Earnings

Fannie Misses Estimates, Slashes Dividend

Stock drops 12% in early trading

Aug 8, 08 8:37 AM CDT
(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... More »

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corporate earnings • second quarter earnings • Freddie Mac • Fannie Mae • housing crisis • subprime crisis • financial crisis

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

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

Aug 6, 08 7:15 AM CDT
(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... More »

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corporate earnings • Freddie Mac • Fannie Mae • housing crisis • subprime crisis • financial crisis

Earnings

Wachovia Posts $8.9B Loss Under New CEO

'Dismal' housecleaning quarter much worse than expected

Jul 22, 08 9:58 AM CDT
(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 house, but analysts had predicted only a 78... More »

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Wachovia • earnings reports • corporate earnings • second quarter earnings • Robert Steel • financial crisis

earnings

FedEx Reports $241M Loss on Fuel Costs, Soft Economy

Spike in costs offset 8% rise in revenue as company revises guidance down for year

Jun 18, 08 8:32 AM CDT
(Newser) - Surging fuel costs, softening demand, and retail operation charges—including the cost of renaming its FedEx Kinko’s stores FedEx Office—sent FedEx Corp. to a fourth-quarter loss of $241 million, or 78 cents a share, compared to profits of $610 million or $1.96 a year ago, reports the... More »

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corporate earnings • FedEx • writedowns • United Parcel Service Inc. • Kinko's

Earnings

 Morgan Stanley Profits Fall 57%  

Business bad all around, with declines in sales, trading, and investment banking

Jun 18, 08 8:00 AM CDT
(Newser) - Morgan Stanley profits were sliced in half this quarter, the company announced today, as stock slingers failed to offset real estate writedowns. The 57% drop, which brought earnings to $1.03 billion or $0.95 per share, was in line with analyst expectations. CEO John Mack said that thanks to... More »

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Morgan Stanley • earnings reports • bank • corporate earnings • investment banks

 CEOs Live the
 Good Afterlife 

Lavish 'severance' payments go to heirs if bosses die at the helm

Jun 10, 08 9:23 AM CDT
(Newser) - Corporate critics who say there is not enough connection between performance and executive pay may be gravely concerned to learn that many execs will keep getting sky-high bonuses when they're 6 feet under. A Wall Street Journal review finds dozens of CEOs will receive "golden coffin" payments if they... More »

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executive compensation • CEO • death • corporations • corporate earnings • payoffs • executives

EARNINGS REPORT

PS3 Sales Help
Sony Get Its
Q4 Game On

Price cut, new games create resurgence, $224M profit

May 15, 08 6:59 AM CDT
(Newser) - Sony reported fourth quarter profits of $277 million yesterday, driven largely by its once-sputtering PlayStation 3, which passed Microsoft's Xbox 360 and is nipping at the heels of Nintendo’s Wii. The results vastly improved on a loss of $643.6 million a year ago, reports the Wall Street Journal.... More »

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Nintendo Wii • Sony • Playstation 3 • Xbox 360 • corporate earnings • Blu-Ray

Sprint Loses
1M Customers, $505M in Q1

Embattled carrier will cut 4K jobs, close outlets, sell assets

May 12, 08 8:11 AM CDT
(Newser) - Sprint Nextel continued to hemorrhage customers in the first quarter, losing more than 1 million subscribers and tallying losses of $505 million, more than double its losses in the same period last year, reports Bloomberg. Sales slipped nearly 8% to $9.33 billion. The carrier, rumored to be a takeover... More »

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corporate earnings • Sprint Nextel • cell phone industry • Clearwire • Dan Hesse

OPINION

MySpace Web's 'Biggest Steal'

Despite missing revenue targets, Mashable scribe not afraid to 'wax poetic'

May 8, 08 3:22 PM CDT
(Newser) - MySpace fell short of revenue targets in the most recent quarter, but, Adam Ostrow argues in Mashable, it’s still proven a phenomenal deal since Rupert Murdoch’s News Corp. bought it for $580 million in 2005. Revenues from its unit are pulling close to its purchase price and it’... More »

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social networking • Rupert Murdoch • MySpace • Facebook • acquisition • corporate earnings • News Corp

Earnings report

 US Woes Drive
 Toyota Profits
 Down 28% 

World's No. 2 automaker sees tough year ahead

May 8, 08 7:15 AM CDT
(Newser) - Even Toyota—with its array of popular gas-sipping vehicles—is struggling in a slumping global economy, according to the latest figures. The world’s No. 2 automaker today reported that earnings for the last quarter fell 28% to $3.05 billion from $4.2 billion a year ago, reports the... More »

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Toyota • automaker • corporate earnings • yen • auto industry • auto sales • economy

Earnings Report

Disney Bucks Economy,
Sees Net Rise 22% in Q2

Recession, gas prices can't stop entertainment giant's gains

May 7, 08 7:26 AM CDT
(Newser) - Even rising gas prices couldn’t dent Disney’s second-quarter earnings. The company’s theme park earnings climbed 33%, helping push its overall net up 22% from a year ago, reports the Wall Street Journal. Disney also recorded a 61% jump in earnings from its movie arm and a... More »

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Disney World • Walt Disney Co. • corporate earnings • gas prices • Disneyland

Earnings report

Slumping Razr Sales Slash Moto Earnings

Motorola posts larger-than-expected  $194M loss

Apr 24, 08 7:59 AM CDT
(Newser) - Apple and Nokia chewed away at Motorola’s cellphone market share, pushing the troubled handset maker to a larger first-quarter loss than expected, Bloomberg reports. Moto lost $194 million, or 9 cents a share, and revenues fell 21% to $7.45 billion. The company also  issued a bleak forecast for... More »

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cell phones • Carl Icahn • corporate earnings • Motorola • handsets

Earnings report

 Ford Surprises With
 $100M Q1 Profit 

Cost cutting offsets weak sales in US for world's No. 3 automaker

Apr 24, 08 7:28 AM CDT
(Newser) - Ford today posted an unexpected first-quarter profit of $100 million, Bloomberg reports, the result of cost cutting in North America and strong overseas sales. Analysts had anticipated a loss on the order of last year's first-quarter drain of $282 million. The world’s third-largest automaker said its revenues increased 1.... More »

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Ford • corporate earnings • Alan Mulally • auto industry

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