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Tootsie Roll Industries Inc., the Chicago-based candy maker, said its second quarter profit fell 18 percent, reflecting rising costs of distribution and ingredients — in particular, sugar.
The family-run manufacturer of Junior Mints and Dots reported net income of $8.5 million, or 15 cents a share for the three months ended July 3, down from $10.3 billion, or 18 cents a share, a year ago. Get the full story »
Motorola Inc. saw its second-quarter profit jump significantly from last year, with executives sounding increasingly confident about the mobile device devision’s ongoing transformation into a profitable smartphone maker.
The Schaumburg-based company posted net profit of $162 million, or 7 cents per share, for the second quarter, compared with a year-earlier profit of $26 million, or 1 cent per share. The profits were driven mostly by Motorola’s enterprise mobility and networks units, although its mobile phone business showed signs of progress. Get the full story »
Auto parts maker Tenneco Inc. on Thursday posted a second-quarter profit that surged past Wall Street expectations, as auto production rose by 72 percent in North America, its largest market.
Tenneco shares rose more than 6 percent in morning trading, to $25.61. Get the full story »
Sony Corp. lifted its annual outlook and returned to profitability in the first quarter on booming demand for its Bravia flat TVs and PlayStation 3 game consoles.
Rivals Panasonic Corp. and Sharp Corp. also reported profits for April-to-June versus losses a year ago, while Panasonic joined Sony in upgrading its forecast as both cashed in on growing sales in emerging markets. Get the full story »
ExxonMobil Corp. reported a better-than-expected second-quarter profit Thursday, as oil prices and margins to process crude into fuel rebounded from a year earlier and production rose.
Conditions in the refining sector have improved in recent months, with business and consumer demand for diesel and gasoline rebounding. Get the full story »
Mead Johnson Nutrition Co.’s second-quarter profit fell 10 percent on falling margins, as strength in emerging markets was partially offset by a decline in North America. Get the full story »
Potash Corp. of Saskatchewan on Thursday posted a quarterly profit that more than doubled and easily outstripped expectations, as sales volumes more than quadrupled, offsetting lower prices for the crop nutrient. Get the full story »
Beauty supplies and hair products distributor Sally Beauty Holdings Inc. posted better-than-expected third-quarter results, helped by better gross margins. The company has seen rising sales as consumers bought more do-at-home products instead of heading for hair salons.
CME Group Inc.’s second-quarter earnings rose 22 percent, and adjusted results topped analysts’ forecasts, as the world’s biggest operator of derivatives exchanges again benefited from increased volume. Get the full story »
Automobile-parts recycler LKQ Corp. posted a 31 percent jump in quarterly profit, helped by a rise in refurbished parts sales, and raised its 2010 adjusted earnings outlook. Get the full story »
Nintendo, maker of the Wii home console and DS handheld, slumped into the red last quarter as sales faded amid a strong yen and a lack of new game titles. Kyoto-based Nintendo Co. said Thursday it suffered a loss of 25.22 billion yen ($289.17 million) for the April-June period compared with a profit of 42.32 billion yen a year earlier — the first in six quarters. Sales for the fiscal first quarter sank 25.6 percent to 188.65 billion yen ($2.16 billion).
Nissan Motor Co. veered back into the black in its latest quarter as global car sales rebounded, while its smaller rival Mitsubishi Motors Corp. narrowed its quarterly loss.
Morningstar Inc. said on Wednesday that profit in the second quarter fell 12 percent on rising costs for compensation and other expenses.
Net income for the Chicago investment research company company fell to $18.0 million, or 36 cents per share, for the quarter, from $20.5 million, or 41 cents a share, for the same period a year earlier.
Revenue rose to $136.1 million, from $119.5 million for the year-earlier quarter, the company said. Revenue from acquisitions of $12.7 million helped drive the increase, along with more sales of software and data products. But total operating expenses also rose, including higher costs for salaries, sales and marketing. Get the full story »
Though Hospira Inc.’s second-quarter profits more than tripled from a year earlier, the company’s stock lost more than 7 percent Wednesday as the medical product maker continued to be dogged by regulatory issues.
The Lake Forest-based maker of medication delivery devices and injectable generic drugs had net income of $83.5 million, or 49 cents a share, in the period ended June 30. That compares to $25.5 million, or 16 cents a share in the second quarter of 2009, when it had reported charges related to its cost-cutting initiative, “Project Fuel,” that is saving the company more than $100 million annual and has cut several hundred jobs. Get the full story »
CVS Caremark Corp. Wednesday reported weaker quarterly earnings and lowered its profit forecast, but shares rose as investors approved of a large pharmacy benefit management services contract struck with Aetna.
CVS Caremark will administer Aetna’s retail pharmacy store network and manage customer service. It will also handle prescription drug purchasing, manage inventories and fill prescriptions for Aetna’s mail-order and specialty pharmacy operations. The contract will ramp up over several years and bring in revenue of $8.2 billion next year. CEO Tom Ryan said the 12-year contract is the largest and longest contract in the industry. Get the full story »
