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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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Earnings Preview

Yahoo Hopes Q1 Report Will Boost Microsoft Bid

Data out tomorrow expected to be in line with analysts' expectations

Apr 21, 08 10:50 AM CDT
(Newser) - All eyes will be on Yahoo's first-quarter earnings report tomorrow; the company hopes to use solid results to pressure Microsoft into sweetening its takeover bid, the Wall Street Journal reports. The report comes just 2 days before Microsoft's own and 4 days before the deadline the latter set for a... More »

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Yahoo • Google • Microsoft • corporate earnings • takeover bid

Earnings Report

Bank of America Posts 77% Dive on $6B in Writedowns

Writedowns pack bigger punch than analysts expected

Apr 21, 08 8:00 AM CDT
(Newser) - More than $6 billion in subprime writedowns sent Bank of America profits skidding for the third straight quarter today, as the nation's second-largest bank posted a 77% decline in net income for the first quarter. Earnings were $1.21 billion, down from $5.26 billion a year ago, reports Bloomberg.... More »

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Bank of America • corporate earnings • Countrywide Financial • writedowns • subprime crisis • Kenneth Lewis

National City Close to $6B
Cash Infusion

US's 10th-largest bank has been decimated by the mortgage crisis

Apr 21, 08 7:06 AM CDT
(Newser) - Battered National City—which has seen shares plummet 78% as it's been overwhelmed by the subprime fiasco—is close to a $6 billion bailout funded by some of its largest shareholders and private equity firm Corsair Capital, reports the Wall Street Journal. The infusion for the Cleveland-based bank would be... More »

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corporate earnings • National City • subprime crisis • JPMorgan Chase • credit market chaos • Fifth Third • financial crisis

 GE CEO
 Parries Critics
 —Including
 Predecessor 

Despite missing earnings forecasts, Immelt says he'll stay the course

Apr 17, 08 1:23 PM CDT
(Newser) - General Electric CEO Jeffrey Immelt faced the music yesterday, as his predecessor, Jack Welch, raked him over the coals on his own cable TV network for missing first-quarter earnings forecasts. Immelt admitted GE “let people down” in downgrading its outlook for 2008, the Wall Street Journal reports. But he... More »

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General Electric • earnings reports • corporate earnings • Jeffrey Immelt • credit market chaos • Jack Welch

MARKETS

 Markets Up Big on Earnings 

Limited losses by JPMorgan, Wells Fargo key best jump in two weeks

Apr 16, 08 3:42 PM CDT
(Newser) - Stocks staged a rally today on the strength of profit reports from JP Morgan and Intel. "The bear market is bottoming, and folks are beginning to look beyond the valley of widely known problems to better times ahead," a strategist tells the Wall Street Journal. The Dow ended... More »

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stock market • Intel • Wells Fargo • corporate earnings • JPMorgan Chase

Earnings Report

JPMorgan Q1 Profits Plunge 50% on $5.1B Writedowns

Blames credit markets, slowing economy

Apr 16, 08 7:18 AM CDT
(Newser) - JPMorgan Chase, battling $5.1 billion in subprime writeoffs and deteriorating consumer credit, reported first quarter profits fell 50%, reports the Wall Street Journal. CEO Jamie Dimon warned the outlook for the remainder of 2008 was likely as grim. Morgan—the 3rd-largest US bank—said profits dropped to $2.... More »

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earnings reports • corporate earnings • writedowns • subprime crisis • James Dimon • JPMorgan Chase • consumer credit

Earnings Report

Intel Rides Global Sales
to Strong Q1

Profit jumps 9% as chip-maker surprises Wall Street

Apr 16, 08 6:50 AM CDT
(Newser) - Global demand for computer chips helped Intel power to a 9% first-quarter revenue gain, beating analysts' estimates and sending a message that while US sales may be slumping, the world’s largest chip maker’s still got game. Intel stock rose 7.7% in after hours trading, the New York ... More »

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Intel • corporate earnings • computer chip • AMD • chip

North American TV Sales Drag Philips Down

Profits off 28% in first quarter as electronics giant feel pinch

Apr 14, 08 10:15 AM CDT
(Newser) - An expanding health-care sector in China couldn’t help Royal Philips Electronics offset poor television and video sales in North America, as the world’s leading lighting company reported core profits fell 28% in the first quarter, Reuters reports today. The company said it expects the global economic slowdown will... More »

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China • television • global economy • corporate earnings • Philips • consumer electronics

Cancer Drug Sales Push Genentech Profits Up 12%

But analysts say Avastin sales slowing

Apr 11, 08 8:28 AM CDT
(Newser) - Biotech firm Genentech said sales of its blockbuster cancer drug Avastin fueled a first-quarter profit increase of 12%, reports the Wall Street Journal, but the $600 million in sales was below analysts’ projected $622 million, causing some to grumble the drug may have reached a sales plateau. Genentech stock... More »

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FDA • breast cancer • corporate earnings • Genentech • Roche Holding • Avastin

Earnings report

BlackBerry Maker Sees Earnings Soar by 54%

Smartphone sales double to $1.88B

Apr 3, 08 6:53 AM CDT
(Newser) - Strong North American sales helped Research in Motion to a 54% fourth quarter earnings increase, despite a global economic slump, reports the Wall Street Journal. The BlackBerry smartphone maker said quarterly sales doubled to $1.88 billion. RIM yesterday also projected first-quarter sales of $2.3 billion, topping analysts'... More »

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cell phones • Research In Motion • BlackBerry • corporate earnings • smartphones

Earnings report

Oracle Stock Dives 8%
on Flagging Q3 Revenue

Despite a 30% jump in profits, investors worry the software maker is vulnerable

Mar 27, 08 7:45 AM CDT
(Newser) - Oracle missed its third-quarter revenue projections yesterday and investor reaction was swift and dramatic: shares of the software maker dropped 8% in after-hours trading, reports the Wall Street Journal. This despite the fact that Oracle’s profits rose 30% to $1.34 billion, 26 cents per share, from $1.03... More »

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Goldman Sachs • IBM • Oracle • corporate earnings • Cisco • BEA Systems

Earnings Report

Morgan Stanley Beats Estimates With 42% Q1 Drop

No. 2 investment bank beats analysts, but earnings fall again

Mar 19, 08 7:53 AM CDT
(Newser) - A day after posting its biggest gain on Wall Street in more than a decade—shares rose 18% to $42.86—securities firm Morgan Stanley today reported a second straight quarterly loss, as first quarter earnings fell 42% to $1.55 billion, from $2.67 billion a year ago, reports... More »

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Goldman Sachs • Morgan Stanley • John Mack • Lehman Brothers • corporate earnings

Dour Housing Market Slams Home Depot Q4 Results

Profits drop 27%, and the company says 2008 isn't looking very bright

Feb 26, 08 8:23 AM CST
(Newser) - Continuing US housing market woes, showing no signs of letting up, helped drag Home Depot’s fourth quarter profits down 27% over the same quarter last year, to $671 million from $925 million. The world’s largest home-improvement retailer also predicted fiscal-year earnings will drop 19% to 24%, more than... More »

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home improvement • housing market • construction • corporate earnings • Home Depot • Robert Nardelli • Lowe's • retail sales • housing crisis

SocGen Posts Record $4.9B Q4 Loss

Subprime writedowns and fraud drop bank's annual profit 82%

Feb 21, 08 9:54 AM CST
(Newser) - Societe Generale's annual profits plummeted a whopping 82% after a record $4.9 billion fourth quarter loss fueled by subprime woes and the actions of rogue trader Jerome Kerviel, reports Bloomberg. France’s second-largest bank today said net income was 947 million euros, compared to 5.22 billion euros in... More »

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subprime mortgages • earnings reports • corporate earnings • Jérôme Kerviel • Société Générale • Daniel Bouton • SocGen

Credit Suisse Cuts Profits $1B on Trader Errors

Trader 'error' prompts bank to take $2.85B writedown; shares plummet

Feb 19, 08 6:58 AM CST
(Newser) - Credit Suisse share prices plummeted 10% today after the bank announced that some traders had overvalued asset-backed securities, prompting the bank to take a $2.85 billion writedown and drop first-quarter profit projections by $1 billion, Bloomberg reports. Switzerland’s second-largest bank suspended the traders and said it would review... More »

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Credit Suisse • Qatar • corporate earnings • banking • bank fraud • financial institutions • sovereign wealth funds • Jérôme Kerviel • Société Générale • subprime crisis • bank scandal

Comcast Kills Payout Plan for Founder

Shareholder angst leads cable giant to drop multi-million-dollar benefit package

Feb 14, 08 6:46 AM CST
(Newser) - Responding to shareholder complaints, the 87-year-old founder of Cable giant Comcast will cut his annual salary to $1 and the company will scrap a multi-million-dollar death benefit negotiated in December that would have paid heirs his salary for five years, the Wall Street Journal reports. Ralph Roberts, father of CEO... More »

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Comcast • corporate earnings • Brian Roberts • Ralph Roberts

UBS Posts Record $11.2B Quarterly Loss

Swiss bank also posts its first annual loss on $13.7B subprime writedowns

Feb 14, 08 6:10 AM CST
(Newser) - Swiss banking giant UBS today reported an $11.23-billion fourth-quarter loss—the largest ever by a bank—and its first full-year loss ever, after taking $13.7 billion more in subprime mortgage writedowns, reports the Telegraph. UBS, which still has a $27.59-billion exposure to subprime securities, is... More »

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subprime mortgages • UBS • corporate earnings • shares

Activision Earnings Rocket  90%

Video games 'Guitar Hero' and 'Call of Duty 4' drive company's growth

Feb 8, 08 11:18 AM CST
(Newser) - Gamers who love Activision for Call of Duty and Guitar Hero have some company on Wall Street today after the company reported a 90% earnings surge and an 80% bump in sales for the quarter ending Dec. 31, reports MarketWatch. The company reported net income of $272.2 million, up... More »

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corporate earnings • Electronic Arts • Guitar Hero • Activision • Call of Duty • Guitar Hero 3 • Call of Duty 4 • video games

Shell Profits Spike to a Record $27.6B

Critics say the oil giant's earnings are 'obscene' and want a windfall tax

Jan 31, 08 7:55 AM CST
(Newser) - Soaring crude prices and new oil and gas projects drove Royal Dutch Shell to 2007 profits of $27.6 billion—a new record for a British corporation—despite declining production. While critics branded the results “obscene” and called for a windfall tax, Shell’s CEO called them “satisfactory”... More »

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Nigeria • corporate earnings • gas prices • Royal Dutch Shell • Shell Oil • oil reserves

Subprime Woes Cost UBS Record $4B Loss

The Swiss bank adds to its write downs; more bad news could be coming

Jan 30, 08 5:59 AM CST
(Newser) - Hit hard by the subprime mortgage crisis, UBS AG announced it will write down an additional $4 billion in bad investments and post a $4.03 billion loss for 2007, a record for the company and significantly more than the Swiss banking giant predicted in December, reports the Wall Street ... More »

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subprime mortgages • UBS • corporate earnings • subprime crisis

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