corporate earnings – News Stories About corporate earnings - Page 4

Jan 26, 2009 7:50 AM CST

Caterpillar to Slash 20K Jobs

Don't they know Obama wants to heap money on infrastructure?

(Newser) - Caterpillar Inc will cut 20,000 jobs—or 18% of its workforce—after posting a 32% drop in fourth-quarter income, the Wall Street Journal reports. “We were whipsawed in the fourth quarter,” said CEO Jim Owens. “Key industries were hit by a rapidly deteriorating global economy.”...

Microsoft to Ax 5K Jobs

Jan 22, 2009 9:20 AM CST

Microsoft to Ax 5K Jobs

(Newser) - Microsoft surprised the street today by releasing its earnings early, and they weren’t pretty. The software giant’s revenues inched up only 2%, below earlier guidance, and its net income dropped 11%. More alarming, the company said it was slashing 5,000 jobs, starting with 1,400 today, which...

After Turbulent
Year, Airlines See
Smoother 2009

Jan 21, 2009 9:53 AM CST

After Turbulent Year, Airlines See Smoother 2009

Falling fuel prices and capacity better in line with demand will help profits

(Newser) - The nation’s airlines—which scrambled to retask fleets and ground fuel-guzzling aircraft last year as energy prices rose and passenger miles dropped—are likely to have a smoother flight in 2009, reports the Wall Street Journal. Reduced capacity has allowed them to better match supply and demand, and falling...

What Slump?
Big Blue Sees Growth

Jan 21, 2009 8:37 AM CST

What Slump? Big Blue Sees Growth

IBM had a good Q4 and says its business services and software sales are solid

(Newser) - Strong software and business-services sales—including outsourcing services, a cash cow in the current economy—pushed IBM’s profits up 12% in the fourth quarter and prompted a recession-busting forecast of continued growth for 2009, reports the Wall Street Journal. Although Big Blue's revenue fell in the quarter, its margins...

Stocks Edge Down
Ahead of Earnings

MARKET Open

Jan 12, 2009 9:04 AM CST

Stocks Edge Down Ahead of Earnings

Dow off 50 in early trading; first reports due late today

(Newser) - Stocks moved lower at today’s open as traders held their collective breath ahead of what’s expected to be a dismal earning season, the Wall Street Journal reports. The Dow was down 50 points recently, to 8,548, while the S&P and Nasdaq dipped 0.95% and 0....

Bears Reign in Early Trading

MARKET Open

Nov 11, 2008 8:57 AM CST

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...

Stocks Rise Despite Job Woes

MARKETS

Oct 23, 2008 8:58 AM CDT

Stocks Rise Despite Job Woes

But a modest hit

(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 ...

Sour Earnings Sink Stocks

MARKET opener

Oct 22, 2008 8:51 AM CDT

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...

Wachovia Takes Massive
$23.9B 3rd Quarter Loss

Oct 22, 2008 8:40 AM CDT

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.

Stocks Dive on Poor Profits

MARKET open

Oct 21, 2008 8:51 AM CDT

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...

Stocks Gain at Open After Yesterday's Plunge

MARKETS

Oct 16, 2008 8:57 AM CDT

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,...

Southwest
Loses $120M
on Bad Oil Bet

EARNINGS REPORTS

Oct 16, 2008 7:36 AM CDT

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...

Citi Losses Less than Expected; Merrill Drops $5B

earnings reports

Oct 16, 2008 7:20 AM CDT

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....

Stocks Trip Over Bad Econ Data

MARKETS

Oct 15, 2008 9:02 AM CDT

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...

Out of $3.6B Writedown, JPMorgan Pulls a Q3 Profit

Oct 15, 2008 8:36 AM CDT

Out of $3.6B Writedown, JPMorgan Pulls a Q3 Profit

(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....

Investors, Companies Benefit by Accounting Switch: SEC

Aug 28, 2008 9:50 AM CDT

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...

Fannie Misses Estimates, Slashes Dividend

Earnings

Aug 8, 2008 8:37 AM CDT

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...

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

Aug 6, 2008 7:15 AM CDT

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...

Wachovia Posts $8.9B Loss Under New CEO

Earnings

Jul 22, 2008 9:58 AM CDT

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 house, but analysts had predicted only a 78 cents-per-share...

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

earnings

Jun 18, 2008 8:32 AM CDT

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

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

(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...