earnings reports

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GM Loses $6B in Q1, Burns $10.2B

The ailing automaker looks no closer to avoiding bankruptcy, CEO says

(Newser) - General Motors lost nearly $6 billion in the first quarter, hampered by bankruptcy fears and slumping global sales. The company spent $10.2 billion while revenue declined to $22.43 billion—47% down from the previous year. However, the loss of $5.98 billion, or $9.78 a share, was...

Earnings Send Stocks Higher
 Earnings Send Stocks Higher 
MARKET Open
Apr 30, 2009 8:42 AM CDT

Earnings Send Stocks Higher

(Newser) - Stocks surged at the open, as better-than-expected earnings buoyed hopes that the economy is ready for a comeback, the Wall Street Journal reports. The Dow was up 71 points, while the S&P and Nasdaq rose 8 and 20 points, respectively. Earnings reports have been surprisingly good this quarter; about...

Exxon Mobil Profits Plunge 58% on Low Oil Prices

Low year-over-year pump prices, oil demand drive revenue down

(Newser) - Exxon Mobil’s first-quarter profit fell 58% from the previous year to $4.6 billion—its lowest profit in more than 5 years—as the world's largest publicly traded oil company, along with the rest of the industry, saw gas prices deflate dramatically. This time last year crude was in...

Beige Book Boosts Dow Up 109
 Beige Book Boosts Dow Up 109 
MARKETS
Apr 15, 2009 3:15 PM CDT

Beige Book Boosts Dow Up 109

Investors look past Intel to manufacturing

(Newser) - Stocks rose late in today’s session, buoyed by decent news from the Fed’s Beige Book, the Wall Street Journal reports. The report showed manufacturing activity stabilizing or rising in five of 12 US districts, after months of declines. The Dow closed up 109.44 at 8,029.62....

UBS Announces $1.7B More Losses, 8,700 Job Cuts

Bank blames US tax fraud case for some of its 1Q losses

(Newser) - Bad times are continuing for UBS in the wake of last year's record loss, the Guardian reports. The troubled Swiss bank reported a $1.75 billion loss in the first quarter, and announced plans to ax 8,700 employees—11% of its global workforce—sparking rumors that it plans to...

Retailers Gain; Dow Climbs 48
 Retailers Gain; Dow Climbs 48 
MARKETS
Apr 8, 2009 3:28 PM CDT

Retailers Gain; Dow Climbs 48

Investors overcome grim FOMC minutes

(Newser) - Stocks posted gains today after dipping into the red after the release of minutes from the Fed open market committee’s March meeting, during which forecasts were lowered, the Wall Street Journal reports. Family Dollar Stores' strong earnings report encouraged investors, and the consumer and retail sectors saw broad advances....

Stocks Inch Up as Builders Merge
 Stocks Inch Up as 
 Builders Merge 
Market Open
Apr 8, 2009 8:44 AM CDT

Stocks Inch Up as Builders Merge

(Newser) - Stocks crept higher at the open, as a pair of homebuilders planned a big merger and the government sought to help life insurers. The Dow inched up 25 points, and the S&P 0.6%, while the Nasdaq jumped 1.3%. Centex shares soared 28% on news that it would...

Worries Prevail, Dow Falls 42
 Worries Prevail, Dow Falls 42 
MARKETS
Apr 6, 2009 3:27 PM CDT

Worries Prevail, Dow Falls 42

Industrial, financial stocks pace declines

(Newser) - Stocks fell today, ending a 4-day winning streak for the Dow as worries about grim first-quarter earnings reports spooked investors, the Wall Street Journal reports. Alcoa, which will give its report tomorrow, fell 4.3%, as did Caterpillar, off 3.5%. The Dow fell 41.74 to close at 7,...

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...

Markets Dive as HSBC Shuts US Business, Axes 6,100

Banking giant sells record $17.8B in new stock

(Newser) - European and Asian markets took a nosedive today, and HSBC announced it will sell $17.8 billion in new stock in the largest rights issue in British corporate history. Europe's largest bank ended last year in the black, posting a $9.3 billion profit. But HSBC wrote off $10.6...

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%...

UBS Shocks With Record $17B Loss

Swiss banking giant posts worst loss in nation's history

(Newser) - UBS today announced an annual loss of $17 billion—the biggest ever by a Swiss company—despite a government bailout and a surprise tax benefit in the fourth quarter. The loss was higher than expected, but the once-mighty corporation reiterated that it would not sell off its investment banking arm,...

News Corp. Posts $6.4B Loss
 News Corp. Posts $6.4B Loss 
Feb 5, 2009 5:23 PM CST

News Corp. Posts $6.4B Loss

(Newser) - News Corp., the global media giant controlled by Rupert Murdoch, said today it lost $6.4 billion in its most recent quarter because of a massive write-down in the value of its assets. The company, which owns the Wall Street Journal and Fox, also forecast a 30% drop in operating...

Stocks Up After Testing Lows
 Stocks Up After Testing Lows 
MARKET Open
Feb 3, 2009 8:55 AM CST

Stocks Up After Testing Lows

Dow moves back toward 8,000 in early trading

(Newser) - Stocks took a modest bounce at the open, after a Monday session that left the Dow near its bear-market lows, the Wall Street Journal reports. The Dow climbed 20 points to 7,958, while the S&P and Nasdaq inched up fractionally. In individual stocks, Motorola plunged 8.6% after...

Dow Off 149, Down 8.8% for Month
 Dow Off 149, 
 Down 8.8% for Month 
MARKETS
Jan 30, 2009 3:18 PM CST

Dow Off 149, Down 8.8% for Month

GDP report ends month of layoffs, losses

(Newser) - Stocks extended losses today off the news of a 3.8% decline in US GDP for the fourth quarter, ending a turbulent month, MarketWatch reports. The report capped a week of widespread layoffs and poor earnings at major US firms. Amazon.com was a rare exception, up 18% on strong...

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,...

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...

Dow Up 58 On Mixed Data
 Dow Up 58 On Mixed Data 
MARKETS
Jan 27, 2009 3:22 PM CST

Dow Up 58 On Mixed Data

December existing-home sales rise 6.6%

(Newser) - Stocks ended higher for the third straight day today amid mixed financial news, the Finanical Times reports. Home prices sank, leading to a surge in sales, while consumer confidence remained low. A better-than-expected earnings report from AmEx led financials higher as the Dow closed up 58.70 points at 8,...

Stocks Shrug Off Job Losses
 Stocks Shrug Off Job Losses 
MARKET open
Jan 26, 2009 8:58 AM CST

Stocks Shrug Off Job Losses

Pfizer deal drives gains

(Newser) - Pfizer’s massive deal to buy Wyeth helped investors shrug off the bloodbath at Caterpillar, Home Depot and Sprint-Nextel this morning, sending indexes slightly higher at the open. The Dow rose 55 points, while the S&P and Nasdaq rose 11 and 18 points respectively. Caterpillar fell 10% pre-market after...

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