Texas Industries, (TXI: chart) construction materials producer, posted 1Q loss of $2.25 a share, down vs. a profit of $1.62 a share in the same period a year earlier despite revenue growth, missing widely the analyst estimate of 63 cents a share. Excluding discontinued operations and debt retirement costs, earnings would have amounted to 59 cents a share.

CORPORATE NEWS

Sony Corp, consumer-electronics group, announced a decision to cut 10,000 jobs, or 6% of its global workforce, shut down 11 plants and terminate 15 unprofitable restructuring operations in order to revive its electronics business. The company expects losses of $90 million for 2005.

Delta Air Lines Inc., nation’s third-largest carrier, said it will slash 9,000 jobs, lower employee payment and shift its focus on international flights as part of cost-saving restructuring plan. The company aims at achieving additional $3 billion in annual cost savings by the end of 2007.