Stocks in the News Archive

Carnival Cruise Line Reports Profit Increase
March 24, 2009 11:44 AM

Carnival Corp. (CCL) reported that its profit rose 10 percent in its fiscal first quarter. For the quarter that ended Feb. 28, earnings grew to $260 million, or 33 cents per share, up from $236 million, or 30 cents per share, a year ago. Carnival said its revenue fell 9 percent to $2.86 billion, from $3.15 billion in the first fiscal quarter of 2008. Analysts forecasted earnings of 19 cents per share on revenue of $2.87 billion. This exceeded Wall... continued...

Tiffany 4Q Profit Down 75%
March 23, 2009 11:03 AM

Tiffany & Co. (TIF) announced that its profit fell more than 75 percent in the fourth quarter following a steep drop in sales over the key holiday season. The adjusted results beat analysts' forecasts, but Tiffany is predicting 2009 earnings from continuing operations below current expectations. Earnings dropped to $31.1 million, or 25 cents per share, for the three months ended Jan. 31, down from $127.4 million, or 96 cents per share, a year ago. Excluding costs related to job... continued...

Walgreen 2Q Profit Down
March 23, 2009 11:00 AM

Walgreen Co. (WAG) says its profit fell 7% in the fiscal second quarter because of restructuring costs and shoppers cutting discretionary purchases, even as retail prescriptions grew. The company says it earned $640 million, or 65 cents per share. That compares compared with $686 million, or 69 cents per share, a year ago. That includes restructuring expenses of $93 million, or 6 cents per share, which saved the company 2 cents per share. Sales grew 7 percent, to $16.48 billion... continued...

Xerox Cuts 1st Quarter Forecast 80%
March 20, 2009 09:12 AM

Xerox Co. (XRX) on Friday cut its forecast for first-quarter profit nearly 80 percent on restructuring costs and a slowdown in technology spending. Xerox expects earnings per share in a range of 3 cents to 5 cents, down from its earlier forecast of 16 cents to 20 cents. Analysts expected 18 cents per share. The cut in first-quarter 2009 guidance reflects a 6 cent-per-share impact from Xerox's share of Fuji Xerox's restructuring and a lower-than-expected Fuji Xerox profit contribution, the... continued...

Barnes & Noble 4Q Profit Down
March 19, 2009 10:48 AM

Barnes & Noble Inc. (BKS) announced that its 4th quarter profit fell 29 percent as sales dropped off because consumers scaled back on book purchases. Adjusted results beat Wall Street's expectations, and the bookseller provided a first-quarter earnings forecast in range of analysts' estimates. The company earned $81.2 million, or $1.46 per share, during the quarter ended Jan. 31, compared with $115 million, or $1.79 per share, a year earlier. Analysts predicted earnings of $1.48 per share on higher revenue... continued...

FedEx Announces More Job Cuts
March 19, 2009 10:45 AM

FedEx Corp. (FDX) announced it plans to cut more jobs and trim wages again, as the company reported its fiscal third-quarter profit tumbled 75 percent on severe weakness in the global economy. For the 3rd quarter FedEx announced it earned $97 million, or 31 cents per share, compared with $393 million, or $1.26 a year earlier. The revenue fell 14 percent to $8.14 billion, from $9.44 billion. Analysts expected profit of 46 cents per share on revenue of $8.65 billion.... continued...

Wells Fargo Cuts Dividend 85% to 5 cents
March 6, 2009 10:05 AM

Wells Fargo & Co. (WFC) announced it will cut its dividend in an effort to save $5 billion annually. The bank will cut its dividend to 5 cents from 34 cents. The next dividend is expected to be declared in April. Wells Fargo's shares have fallen 72.5 percent so far this year. The stock has lost 25 percent this week alone.... continued...

Campbell Soup 2Q Profit Down 15%
February 23, 2009 09:42 AM

Campbell Soup Co. (CPB) says its second-quarter profit has dropped 15% and earned $233 million, or 64 cents per share for the three months that ended Feb. 1. That's down from $274 million, or 71 cents per share, in the same period a year ago. Sales for the quarter came to $2.12 billion, down about 4 percent from last year's second quarter mark of $2.22 billion.... continued...

Goodyear Reports 4th Quarter Loss
February 18, 2009 09:25 AM

Goodyear Tire & Rubber Co. (GT) plans to cut 5,000 jobs this year after reporting a fourth-quarter loss as sales sank 21 percent. Goodyear lost $330 million, $1.37 per share, in the fourth quarter, after a profit of $52 million, or 23 cents per share, a year earlier. The company lost $1.18 per share, excluding one-time charges or gains, in the most recent quarter. Analysts expected a loss of $1.03 cents per share on that basis. Sales dipped to $4.1... continued...

PepsiCo 4th Quarter Profit Down
February 13, 2009 09:08 AM

PepsiCo Inc. (PEP) said its fourth-quarter profit fell partly on restructuring and impairment charges, but adjusted results met analysts' expectations. Earnings dropped to $719 million, or 46 cents per share, compared with $1.26 billion, or 77 cents per share, a year earlier. Excluding restructuring and impairment charges and other items, net income was $1.39 billion, or 88 cents per share. That matched analysts' average earnings expectation of 88 cents per share.... continued...

Abercrombie & Fitch 4Q Profit Down 68%
February 13, 2009 09:05 AM

Abercrombie & Fitch Co. (ANF) said its fourth-quarter profit slid 68 percent, weighed down by hefty asset impairment and tax costs and slumping sales. The company also said it's cutting costs and declined to issue profit guidance for this year. In the quarter ended in January, Abercrombie earned $68.4 million, or 78 cents per share, down from $216.8 million, or $2.40 per share, a year earlier. Results include a charge of 21 cents per share related to the impairment of... continued...

Coca-Cola 4Q Profit Down 18%
February 12, 2009 09:58 AM

The Coca-Cola Co. (KO) said its fourth-quarter profit fell 18 percent as it dealt with the global recession and volatility in the currency markets. The company earned $995 million, or 43 cents per share, in the quarter ended Dec. 31, down from $1.21 billion, or 52 cents per share, a year earlier. Revenue fell 3 percent to $7.13 billion from $7.33 billion a year ago. Analysts expected profit of 61 cents per share on revenue of $7.52 billion. Analysts typically... continued...

Viacom 4Q Profit Down 69%
February 12, 2009 09:55 AM

Viacom Inc. (VIA-B) reported its fourth-quarter profit fell 69 percent as the recession impacted growth and as it recorded $454 million in restructuring and other charges. The company earned $173 million, or 28 cents per share, compared with $559.5 million, or 86 cents per share, in the year-ago quarter. Revenue from the company's media networks, like MTV and Nickelodeon, rose 1 percent to $2.48 billion. Global ad revenue for the networks fell 3 percent to $1.35 billion, while cable and... continued...

Qwest Profit Down 49%
February 10, 2009 09:39 AM

Qwest Communications International Inc. (Q) announced fourth-quarter earnings fell 49%. The company earned $185 million, or 11 cents per share, in the October-December period, down from $366 million, or 20 cents per share, a year ago. The latest results included a charge of a penny per share for severance payments. The company cut 1,700 jobs in the quarter, more than the 1,200 layoffs it had announced. Analysts expected lower earnings, at 10 cents per share.... continued...

UBS Loses Over $7 Billion
February 10, 2009 09:36 AM

UBS AG (UBS) announced it had a larger than expected loss of 8.1 billion Swiss francs ($7.57 billion) in the fourth quarter and would cut some 2,700 jobs to refocus on its home market. The loss was bigger than analyst estimates, which foresaw a 6.2 billion francs ($5.79 billion) shortfall.... continued...