corporate earnings

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Stocks Edge Higher
 Stocks Edge Higher  
Market Open
Apr 24, 2009 8:48 AM CDT

Stocks Edge Higher

(Newser) - Stocks got a modest boost at the open, as better-than-expected earnings battled with stress test anxiety. The Dow rose 51 points, while the S&P and Nasdaq added 0.6% and 0.4% respectively, the Wall Street Journal reports. Ford skyrocketed 19% after reporting a mere $1.4 billion—and...

Microsoft's Revenue Drops for First Time

(Newser) - Microsoft Corp. said today its quarterly revenue fell from the previous year for the first time in its 23-year history as a public company, while its profit dived 32 percent. The shortfall illustrated the toll the recession has taken on the world's largest software maker, even though it remains one...

Stocks, Earnings Both Mixed
 Stocks, Earnings Both Mixed 
MARKET Open
Apr 23, 2009 8:42 AM CDT

Stocks, Earnings Both Mixed

(Newser) - Stocks barely budged at the open, after a good quarter from Apple and a lousy one from UPS. The Dow fluctuated between gains and losses, and was recently down 13 points. The S&P and Nasdaq were similarly flat. Apple rose 3% after beating expectations with a 15% earnings jump....

Apple's Profit Soars; Jobs Due Back in June

(Newser) - Steve Jobs may be on the sidelines—at least in theory—but Apple is showing no signs of a letdown. The company's quarterly profit surged 15% on strong sales of iPhones and iPods, the Wall Street Journal reports. Jobs, reportedly still very much calling the shots during his medical leave,...

Stocks Slide on Grim Earnings
 Stocks Slide on Grim Earnings 
MARKET Open
Apr 22, 2009 8:43 AM CDT

Stocks Slide on Grim Earnings

(Newser) - Stocks headed lower at the open today, thanks to another round of dour corporate earnings. The Dow fell 44 points, while the S&P and Nasdaq dropped 0.9% and 0.8% respectively. Morgan Stanley tumbled more than 8%, after reporting a quarterly loss, and slashing its dividend. Wells Fargo,...

Yahoo to Cut 700 Jobs as Profit Plunges

(Newser) - Yahoo says its slump worsened in the first quarter as the recession made it more difficult to sell the ads that generate most of its profits. The company says it will cut 600 to 700 jobs, or about 5 percent of its work force. Yahoo says it earned $118 million,...

Bank of America Profit Trounces Estimates

(Newser) - Bank of America’s net income in the third quarter nearly tripled last year's, hitting $4.24 billion, or 44 cents a share, the company announced today, a figure that surpassed even the loftiest analyst expectations. The drastic turnaround will likely take pressure off embattled CEO Ken Lewis, who’s...

Exxon Retakes Top Spot in Fortune 500

Wal-Mart slips to second in 'worst-ever' year for the 500

(Newser) - Exxon Mobil snagged a whopping $443 billion in revenue to unseat Wal-Mart from the top spot in this year's Fortune 500 list, CNN reports. The two behemoths thrived on jacked-up oil prices and the recession respectively, but the picture was a lot bleaker for most of the rest of the...

Citi Swings to Surprise $1.6B Profit—1st in 18 Months

(Newser) - Citigroup posted its first profitable quarter in 18 months today, thanks in no small part to $45 billion in bailout funds and changes to accounting rules, Bloomberg reports. The company posted a $1.6 billion profit, up from a $5.1 billion loss last year. The company reported a loss...

Google Makes a Profit, But Growth Slows

(Newser) - Google Inc. eked out a higher profit in the first quarter, although the Internet search leader's revenue growth decelerated to the slowest pace since the company went public nearly five years ago. The company boosted its profit largely by cutting costs, including reducing the size of its work force for...

FedEx Earnings Dive 75%
 FedEx Earnings Dive 75% 
Earnings
Mar 19, 2009 7:52 AM CDT

FedEx Earnings Dive 75%

(Newser) - FedEx net income plunged 75% in the third quarter, the company announced today, a bad sign for economists who consider the shipping giant a bellwether. FedEx also announced plans to cut $1 billion in costs, though it didn’t detail how many job cuts that might entail. The company has...

Fannie Mae Posts Big Loss, Takes $15B in Bailout Cash

(Newser) - Fannie Mae received $15 billion from Uncle Sam last night after reporting a $25.2 billion fourth-quarter loss, the Washington Post reports. The loss, caused mostly by sinking mortgage-related investments, brought the company’s 2008 losses to $59 billion. This marks the first time Fannie has dipped into its potential...

GM Loses $9.6B in Q4, Guzzles $6.2B in Cash

Misses estimates, stock tanks

(Newser) - General Motors burned through $6.2 billion in cash on its way to losing $9.6 billion in the fourth quarter, the company announced today, dragging its liquidity down to $14 billion. Analysts were expecting a loss, but not one this ghastly—the company’s stock is down nearly 24%...

Dow Ticks Up Despite Job Woes
 Dow Ticks Up Despite Job Woes 
MARKET Open
Feb 4, 2009 9:13 AM CST

Dow Ticks Up Despite Job Woes

522K lost last month, fewer than analysts predicted

(Newser) - Stocks were mixed at today’s open after a report estimating that 522,000 private-sector jobs were lost last month, the Wall Street Journal notes. The Dow started down but was recently up 41 points, while the S&P 500 and Nasdaq were marginally higher. Dragging on the Dow were...

Exxon Breaks Own Profit Record With $45B Haul

The oil behemoth shattered the annual profit record despite slow fourth quarter

(Newser) - Buoyed by last year's spike in crude prices, Exxon Mobil Corp. today reported a profit of $45.2 billion for 2008, breaking its own record for a US company, even as its fourth-quarter earnings fell 33%  from a year ago. The previous record for annual profit was $40.6 billion,...

Stocks Retreat After Rally
 Stocks Retreat After Rally 
MARKET Open
Jan 29, 2009 8:44 AM CST

Stocks Retreat After Rally

(Newser) - Stocks sank at the open today as investors cashed in after yesterday’s rally. The Dow lost 90 points, while the Nasdaq and S&P both dipped 1.4%. The day’s economic data was negative as usual: Continuing jobless claims rose 159,000, orders for durable goods dropped 2....

Ford Reports Record $14.6B Loss for 2008

The nation's No. 2 automaker says it has enough cash and credit available for 2009

(Newser) - Ford Motor Co. today reported its worst year in its 105-year history, driving through more than $5.9 billion in cash in the fourth quarter on its way to a $14.6 billion loss for the year, reports Bloomberg. The company said it had enough cash reserves and credit available...

Sony's Profit Off 95% in Q4
Sony's Profit
Off 95% in Q4
Jan 29, 2009 6:46 AM CST

Sony's Profit Off 95% in Q4

Company blames slow economy, strong yen for 25% sales slump across the board

(Newser) - Slumping demand, a strong yen, and increased competition knocked Sony’s third-quarter profits off 95% from a year ago, reports CNN. Sony reported profits of $110 million for the quarter ended Dec. 31, down from $2.2 billion a year ago. Sony’s gaming segment was hit especially hard, with...

Starbucks Closing 200 More US Stores

(Newser) - Starbucks Corp. plans to slash nearly 7,000 more jobs during a new round of store closures and other cuts, the company said as it reported that its profit dropped by more than two-thirds in its fiscal first quarter. The coffee chain plans to close 300 underperforming stores around the...

Yahoo Posts $303M Loss, Beats Estimates

(Newser) - Yahoo Inc. stumbled to a fourth-quarter loss of $303 million, but the Internet company withstood the recession better than analysts had expected. Yahoo's loss—officially wrapping up the Jerry Yang era—translated into 22 cents per share, compared with a profit of 15 cents per share in the prior year,...

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