Earnings News

A trader works in the dealing room of the First International Bank of Israel (FIBI) in Tel Aviv October 7, 2008. (Baz Ratner/Reuters)

Fed joins global scramble to contain credit crisis

Reuters - 39 minutes ago

NEW YORK (Reuters) - The Fed emerged as a commercial lender of last resort on Tuesday as nations around the world scrambled one by one to slow the global financial crisis despite calls for concerted action.

  • In this Feb. 21, 2008 file photo, Safeway CEO Steve Burd smiles as he sits in a Safeway truck at a Safeway store in Dublin, Calif. Higher gas sales and a boost from its more upscale stores helped grocer Safeway post a slight rise in third-quarter earnings Tuesday, Oct. 7, 2008. (AP Photo/Paul Sakuma, file)
    Safeway profit edges up in Q3 AP - 1 hour, 5 minutes ago

    PORTLAND, Ore. - Higher sales at its gas stations and upscale stores helped boost grocer Safeway Inc.'s profit nearly 3 percent in its third fiscal quarter.

  • Safeway quarterly profit up, shares rise Reuters - 1 hour, 54 minutes ago

    LOS ANGELES (Reuters) - Supermarket operator Safeway Inc posted a higher third-quarter profit, helped by cost controls that sheltered earnings from weak consumer spending, and its shares rose more than 6 percent.

  • Acuity profit falls, to cut jobs Reuters - Tue Oct 7, 9:17 AM ET

    NEW YORK (Reuters) - Lighting maker Acuity Brands Inc reported lower-than-expected quarterly profit on Tuesday, reflecting weaker housing and retail construction markets and high raw material costs, and said it would cut jobs and consolidate some manufacturing operations.

  • A building is reflected in the window of a Bank Of America branch in New York, October 6, 2008. Bank of America Corp, the largest U.S. bank, on Monday reported a 68 percent drop in quarterly earnings, halved its dividend and said it would seek to raise $10 billion in additional capital. REUTERS/Lucas Jackson (UNITED STATES)
    Bank of America reports profit drop, capital raise AP - Mon Oct 6, 7:42 PM ET

    NEW YORK - Bank of America Corp. on Monday reported third-quarter results earlier than planned, revealing a wider-than-expected profit drop and plans to boost capital by selling $10 billion stock and halving its dividend.

  • A building is reflected in the window of a Bank Of America branch in New York, October 6, 2008. (Lucas Jackson/Reuters)
    BofA earnings tumble, cuts dividend Reuters - Mon Oct 6, 7:40 PM ET

    NEW YORK (Reuters) - Bank of America Corp, citing "recessionary conditions," on Monday halved its dividend and said it would sell at least $10 billion in new common stock to bolster its capital to offset rising loan losses.

  • Shoppers exit a Family Dollar store on the north side of Houston operating by generator and accepting cash only as the area recovers following Hurricane Ike September 17, 2008. REUTERS/Richard Carson (UNITED STATES)
    Family Dollar profit tops estimates Reuters - Fri Oct 3, 8:01 AM ET

    NEW YORK (Reuters) - Family Dollar Stores Inc posted a higher-than-expected quarterly profit on Friday, helped by shoppers who spent tax rebate checks at the discount retailer and by closely controlling costs.

  • Corona, St. Pauli Girl and Tsingtao beers, all Constellation brands, are seen on display at a market in Palo Alto, Calif., Thursday, Oct. 2, 2008. Constellation Brands Inc. said Thursday it lost nearly $23 million in its fiscal second quarter as strong sales of vodka and high-end wines were more than offset by charges to shrink its operations in Australia. (AP Photo/Paul Sakuma)
    Winemaker Constellation Brands loses $23M AP - Thu Oct 2, 4:54 PM ET

    ROCHESTER, N.Y. - Constellation Brands Inc. said Thursday it lost nearly $23 million in its fiscal second quarter as strong sales of vodka and high-end wines were more than offset by charges to shrink its operations in Australia. Its shares fell nearly 9 percent.

  • In this July 9, 2008, exterior of the Marriott Hotel in San Francisco, Calif. Marriott International said Thursday, Oct. 2, 2008, its third-quarter profit dropped 28 percent, partly hurt by softening North American revenue per available room — a key measure for hoteliers — and weakening timeshare business amid the global economic downturn. (AP Photo/Paul Sakuma, file)
    Marriott books lower 3Q profit, expects tough 2009 AP - Thu Oct 2, 4:51 PM ET

    BETHESDA, Md. - Hotel company Marriott International Inc. said Thursday that its third-quarter profit dropped 28 percent, compared to 2007, and it warned investors about deteriorating conditions for 2009 amid the ongoing financial crisis.

  • Constellation Brands' CEO Richard Sands speaks in Chicago March 7, 2007. (Joshua Lott/Reuters)
    Constellation Brands posts loss, keeps outlook Reuters - Thu Oct 2, 7:54 AM ET

    NEW YORK (Reuters) - Constellation Brands Inc , the world's largest wine producer, posted a quarterly net loss on Thursday versus a year-earlier profit, due to charges and inventory write-downs related to selling some Australian assets.

  • People walk past the UBS building on Park Avenue in New York September 16, 2008. (Chip East/Reuters)
    UBS says back to profit in Q3 despite crisis Reuters - Thu Oct 2, 6:42 AM ET

    BASEL, Switzerland (Reuters) - UBS AG will make a small quarterly profit after a year of losses, it said on Thursday, lifting its shares as it signaled it had started to turn the corner even as the credit crisis engulfs many rivals.

  • Standard Microsystems 2Q profit declines AP - Wed Oct 1, 6:21 PM ET

    HAUPPAUGE, N.Y. - Semiconductor maker Standard Microsystems Corp. said Wednesday its fiscal second-quarter profit declined, and shares fell after-hours after its outlook fell short of expectations.

  • A Micron Technology technician works with equipment called Axcelis Ashers that begin to loosen up and remove hardened photoresist in the semiconductor manufacturing process at Micron's Manassas, Virginia, fabrication facility in this picture taken on February 7, 2007. (Micron Technology/Handout/Reuters)
    Micron Technology posts wider 4Q loss AP - Wed Oct 1, 4:48 PM ET

    BOISE, Idaho - Memory chip maker Micron Technology Inc. said Wednesday its fiscal fourth-quarter loss widened as the industry continues to face oversupply problems and pricing pressures.

  • Investor Warren Buffett listens to a question during a news conference in Madrid May 21, 2008. (Andrea Comas/Reuters)
    GE to raise $15 billion, Buffett gets preferred stake Reuters - Wed Oct 1, 4:41 PM ET

    BOSTON (Reuters) - General Electric Co plans to raise $15 billion through stock sales -- including $3 billion from Warren Buffett -- to improve liquidity and give it the option of more acquisitions at a time of intense market turmoil, the U.S. conglomerate said on Wednesday.

  • Products from Pepsi Bottling are seen in an undated handout photo. (Handout/Reuters)
    Pepsi Bottling profit tops view Reuters - Tue Sep 30, 8:17 AM ET

    NEW YORK (Reuters) - Pepsi Bottling Group Inc posted a better-than-expected quarterly profit on Tuesday as price increases helped offset volume declines, and it raised the low end of its full-year earnings outlook.

  • Exterior of Circuit City store in East Palo Alto, Calif., Monday, Sept. 29, 2008. Circuit City Stores Inc. posted a wider second-quarter loss and withdrew its fiscal 2009 outlook Monday, amid sluggish sales, poor traffic and heightened competition. Its shares fell nearly 9 percent as investors worried about the company's future. (AP Photo/Paul Sakuma)
    Circuit City has bigger 2Q loss, withdraws outlook AP - Mon Sep 29, 6:52 PM ET

    RICHMOND, Va. - Circuit City Stores Inc. withdrew its outlook for the full year and posted a wider second-quarter loss Monday as it looks toward a holiday shopping season which has even the least vulnerable retailers worried.

  • In this June 23, 2008 file photo, pedestrians walk past a downtown Chicago Walgreens store. Walgreen Co. said Monday, Sept. 29, 2008, higher sales and cost-cutting boosted its fiscal fourth-quarter profit amid a difficult economic environment. (AP Photo/Russel A. Daniels, file)
    Sales boost Walgreen fiscal 4th-qtr profit AP - Mon Sep 29, 6:41 PM ET

    DEERFIELD, Ill. - Shares of Walgreen Co. fell to their lowest price in almost five years Monday after the drugstore operator reported disappointing revenue in its fiscal fourth quarter, pointing to promotions that failed to pay off.

  • Steelcase posts lower net quarterly earnings Reuters - Mon Sep 29, 9:49 AM ET

    NEW YORK (Reuters) - Steelcase Inc , the world's largest office furniture maker, reported lower quarterly net earnings on Monday as commodity cost inflation outpaced price increases.

  • A Circuit City store is seen in Dallas, Texas June 19, 2008. (Jessica Rinaldi/Reuters)
    Circuit City posts loss, withdraws outlook Reuters - Mon Sep 29, 9:30 AM ET

    ATLANTA (Reuters) - Circuit City Stores reported a wider quarterly loss and withdrew its financial outlook on Monday as the electronics retailer reviews its business, sending its shares down 10 percent in premarket trading.

  • A Walgreens store is seen in Golden, Colorado, June 25, 2007. (Rick Wilking/Reuters)
    Walgreen quarterly profit falls short of view Reuters - Mon Sep 29, 9:30 AM ET

    NEW YORK (Reuters) - Walgreen Co posted a quarterly profit on Monday that fell short of Wall Street expectations and said it was still committed to an unsolicited bid for Longs Drugs Stores Corp .

  • American Greetings 2Q profit falls 73 pct on costs AP - Fri Sep 26, 5:44 PM ET

    PORTLAND, Ore. - American Greetings Corp. said Friday that second-quarter profit dropped 73 percent on lower margins and higher costs as the greeting card company invested in products to drive sales growth.

  • In this June 27, 2008 file photo new KB Home properties are under construction in Sylmar, Calif. KB Home on Friday, Sept. 26, 2008 said its third-quarter loss quadrupled from a year-ago period helped by hefty gains on the homebuilder's now-discontinued French operations, and missed Wall Street expectations. (AP Photo/Damian Dovarganes, file)
    KB Home 3Q loss widens as housing slump drags on AP - Fri Sep 26, 5:28 PM ET

    LOS ANGELES - KB Home, one of the nation's largest home builders, said Friday its third-quarter loss quadrupled from the year-ago period, missing Wall Street's expectations as revenue plunged by 56 percent amid falling sales and home prices.

  • A Research in Motion Blackberry is shown in Toronto October 26, 2007. (Mark Blinch/Reuters)
    RIM 2Q earnings up 72 percent but outlook soft AP - Thu Sep 25, 6:28 PM ET

    NEW YORK - The stock of Research in Motion Ltd. plunged in extended trading Thursday after the BlackBerry maker said the cost of launching new smart phones would eat into near-term profits.