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AIG Predicts More Losses
Feb 29, 2:42 PM EST |
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| AIG, largest insurance company, reported a significantly higher loss than its estimates released only two weeks ago. |
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| AIG reported fourth quarter loss of $5.29 billion or $2.08 loss per share compared to net income of $3.44 billion or $1.31 per diluted per share in 2006. For the full year 2007 net loss of $6.20 billion or $5.36 per share. Company guided that 2008 may be a challenging year and more losses are likely as housing market declines. On February 11, AIG had lifted its loss estimate from $1 billion to $5 billion but today it reported nearly twice that amount. |
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Sprint Takes $30 B Charge
Feb 28, 12:23 PM EST |
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| Sprint reported third quarter loss of $29.45 billion or $10.36 per share after it wrote-off its purchase of Nextel. |
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| Sprint reported a huge fourth quarter loss as it struggled with a loss of high paying customers, rising price competition, and a difficult integration with Nextel. Sprint wrote-off its entire acquisition cost of Nextel, only after two years of the purchase. In the fourth quarter, total post-paid subscribers declined 683,000 due to a loss of iDEN users after losing 337,000 in the third quarter. |
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Autodesk, Sempra Decline, Papa John’s Rises
Feb 27, 3:55 PM EST |
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| Autodesk fell 15% after it reported flat fourth quarter earnings on 20% rise in sales and issued similar outlook of higher sales and flat earnings. |
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| Autodesk fell 15% after it reported flat earnings in the fourth quarter of $96.5 million or 40 cents per share. Sempra Energy fourth quarter revenue declined 4.2% to $3.11 billion and earned $289 million or $1.10 per share. Papa John''s reported fourth quarter revenue rose 2.2% to $283.9 million and earnings of $7.7 million or 27 cents per share. Ternium S.A. earned $220.6 million on $2.3 billion in sales in the fourth quarter. Sales rose 43% and earnings surged 39% from a year ago. |
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Nordstrom Q4 Sales Decline 4%
Feb 26, 9:31 PM EST |
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| In the first quarter Nordstrom estimates same store decline between 3% and 5% and earnings per share between 49 cents and 54 cents. |
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| Nordstrom, Inc, luxury retailer today reported net earnings of $212 million, or $0.92 per diluted share for the fourth quarter compared to $232 million and $0.89 per share a year ago. Total sales in the fourth quarter were $2.5 billion, a decrease of 4.4% compared to sales of $2.6 billion in 2006. Fourth quarter same-store sales decreased 0.7%. The company had guided flat same store sales growth in the fourth quarter. |
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Macy's and Nordstrom Rise on Earnings
Feb 26, 9:32 PM EST |
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| Nordstrom stock rose after it reported sales decline of 4.4% to $2.6 billion in the fourth quarter. |
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| Macy''s and Nordstrom report declining sales and profits in the fourth quarter as consumers hold on to their wallets. Macy''s sales in the fourth quarter fell 6.2% to $8.6 billion and earnings per share from continuing operations rose to $1.73 from $1.45. Prior to one-time adjustments earnings were $1.65 per shre. Macy''s guided same store declie between 1% and 1.5% for fiscal 2008. Nordstrom fourth quarter earnings were $212 million or 92 cents per share compared to $232 million or 89 cents. |
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Fresenius Profit Up 34%
Feb 21, 3:40 PM EST |
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| Fourth quarter profit jumped 30% as dialysis services revenue grew 6% and revenue in dialysis products edged up 18%. |
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| The world’s largest provider of dialysis products Fresenius Medical Care annual revenues rose 14.4% to $9.7 billion from a year ago spurred by 6% increase in patients treatment and an 11% increase in dialysis treatments worldwide. Net income soared 33.6% to $717 million from $536 million a year earlier. Fresenius proposed eleventh dividend increase in a row by 15% to 54 euro cents per share. |
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JC Penney Rises After Earnings
Feb 21, 12:11 PM EST |
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| JC Penney, third largest retailer, guided earnings per share in the current fiscal year between $3.75 and $4.00 and plans to spend $1 billion. |
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| J C Penney fourth quarter total sales declined 4.1% and comparable same store sales declined 2.3% from a year ago to $6.4 billion. Earnings per share declined 7.7% to $1.93 and net income fell 10% to $430 million. in the fiscal year 2007, the company sales increased 0.2% to $19.8 billion and net income declined 3.6% to $1.11 billion and earnings per share fell 0.4% to $4.90. Retailer plans to spend $1 billion in store addition and renovations in the fiscal year. |
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HP Earnings Rise 38%
Feb 20, 10:57 AM EST |
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| HP stock jumped as high as 9% after reporting earnings rise of 38% and lifted outlook for the second quarter. |
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| HP first quarter sales increased 13% to $28.5 billion and earnings increased 38% to $2.1 billion. The sales increased 8% after adjusting for currency. Operating margin increased to 9.2% from 7.3% from a year ago. Earnings per share increased 45% to 88 cents from 55 cents in the previous year. HP estimates second quarter revenue between $27.7 billion to $27.9 billion and diluted earnings per share to be approximately $0.77 to $0.78. |
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Wal-Mart Earnings Rise 5.8%
Feb 19, 2:05 PM EST |
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| Wal-Mart generated record quarterly sales above $100 billion on rising international sales. |
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| Wal-Mart Stores, Inc reported fourth quarter sales rise of 8.3% to $106.27 billion and income from continuing operations increased 4% to $3.94 billion. Earnings per share increased to $1.02 per share, up 7.4% from a year ago of 95 cents. For the fiscal year ending in Jan 31, Wal-Mart reported net sales increase of 8.6% to $374.52 billion and earnings per share increase of 8.2% or $2.92. |
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Baidu's Quarterly Profit Surges 79%
Feb 15, 1:00 PM EST |
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| Quarterly profit rocketed led by increased revenues that were generated from online marketing customers. |
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| China''s leading Internet search engine added that online marketing revenues in the quarter increased 111.2% from a year earlier. For fiscal 2007, net profit jumped 108% from a year ago to 629 million yuan while revenues jumped 110% to 1.74 billion yuan. Baidu expects first-quarter revenue to increase 93% to 99% from a year earlier. |
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