April 21, 2010 at 9:41 a.m.
Filed under:
Airlines,
Earnings,
Health care,
Manufacturing
By Julie Johnsson | President Obama’s recently enacted health care legislation took its toll on Boeing Co. earnings as the Chicago-based aerospace company reported a $150 million non-cash charge, or $0.20 per share, for a future tax benefit that it will lose as a result of the new law.
The charge contributed to a 15 percent drop in Boeing’s net income of $519 million, or $0.70 per share, compared to prior-year results. Revenues at the Chicago aerospace company fell 8 percent to $15.2 billion as it delivered fewer airplanes to customers than in early 2009: 108 versus 121.
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April 21, 2010 at 7:14 a.m.
Filed under:
Earnings,
Food,
Restaurants
Associated Press | McDonald’s first-quarter profit climbed above
analysts’ expectations as hungry diners looking to stretch their
dollars chowed down on its value menu items.
The world’s largest hamburger chain says sales rose across all its markets as more customers visited its restaurants.
McDonald’s, based in Oak Brook, generally outperformed most competitors
in the recession. But even its sales had come under pressure amid high
unemployment.
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Associated Press | Blockbuster iPhone sales helped Apple Inc.
blow past Wall Street’s expectations with a 90 percent leap in net
income for the most recent quarter. Shares skyrocketed in extended
trading Tuesday. Apple said it sold nearly 9 million of its popular
iPhone smart phones in the three months that ended March 27, more than
double sales from a year ago.
After a brief trading halt, investors sent Apple’s stock bounding up
$17.31, or 7.1 percent, to $261.90 in after-hours trading. Earlier, the
stock had shed $2.48 to close at $244.59.
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April 20, 2010 at 12:43 p.m.
Filed under:
Banking,
Earnings
By Becky Yerak |
Northern Trust Corp.’s shares were down 6 percent in midday trading
after first-quarter profits fell short of expectations. The company was
challenged by low interest rates and experienced higher non-interest
expenses, including compensation and employee benefits.
The Chicago-based financial services firm, which caters to wealthy
individuals and institutions, had first-quarter earnings of 64 cents a
share, 8 cents lower than analysts’ consensus. A year earlier, it earned
61 cents a share.
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April 20, 2010 at 12:11 p.m.
Filed under:
Earnings
Dow Jones Newswires | USG Corp.’s first-quarter loss widened as all of its units posted
sales drops amid a tough homebuilding market.
The maker of gypsum wallboard, ceiling grid and other building materials
has suffered along with its peers in the global recession as
residential foreclosures and inventories mount, home prices decline and
lending standards remain tight. The company has trimmed costs in
response but expects a challenging 2010.
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April 20, 2010 at 11:13 a.m.
Filed under:
Earnings
Dow Jones Newswires | Illinois Tools Works Inc. swung to a first-quarter profit and raised its full-year forecast as a global recovery boosted sales of auto parts.
The company now sees earnings in 2010 of $2.72 to $3.08 a share, up from an earlier estimate of $2.43 to $2.93 a share, and projected a second-quarter profit of 74 cents to 86 cents a share on revenue growth of 15 percent to 19 percent. Analysts surveyed by Thomson Reuters projected second-quarter earnings of 69 cents a share and revenue of $3.82 billion, up 12 percent.
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April 20, 2010 at 10:58 a.m.
Filed under:
Earnings,
International
By Kiah Haslett | Northfield chemical manufacturer Stepan Co. said first-quarter profits
were $20.7 million, up 36 percent from a year ago, on increased sales
helped by favorable foreign currency translations.
First-quarter earnings, which were $1.88 per diluted share, exceeded
analysts’ expectations of $1.32 a share. In morning training, Stepan
shares were up 7.8 percent to $66.52 on the news.
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April 20, 2010 at 9:19 a.m.
Filed under:
Earnings,
Pharmaceuticals
By Kiah Haslett
| Shares of pharmaceutical manufacturer Akorn, Inc. were up 12.58 percent to $1.80 in midmorning trading, after investors learned that Akorn received regulatory clearance to market a generic pain drug. Akorn is based in Lake Forest, Ill.
Chemical manufacturer Stepan Company was up 10.18 percent to $68.26 on the release of its record-setting first quarter earnings report, which exceeded analysts’ expectations.
April 20, 2010 at 6:02 a.m.
Filed under:
Banking,
Earnings
Associated Press | Goldman Sachs Group Inc. says its
first-quarter earnings almost doubled to $3.3 billion as its trading
business again surpassed the rest of the financial industry. It was a
bit of good news for the bank as it faces a government civil fraud
charge.
The company says it set aside 43 percent of revenue in the first three
months of the year to pay employee salaries and bonuses, down from 50
percent for the same period last year.
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Dow Jones Newswires | Packaging Corp. of America’s fourth-quarter profit declined 25% due to lower product prices and higher recycled fiber and pulpwood costs, which offset higher revenue.
The paper-products company projected second-quarter earnings of about 30 cents a share, below Wall Street’s target of 33 cents, according to a poll by Thomson Reuters. Lake Forest-based Packaging Corp. attributed the view to higher pricing, although it said most of the increases wouldn’t be realized until the third quarter. Meanwhile, three mills are expected to be down for maintenance outages during the quarter, which will reduce production and increase costs.
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April 19, 2010 at 10:13 a.m.
Filed under:
Earnings
Dow Jones Newswires | Idex Corp.’s first-quarter earnings soared
62 percent, beating analysts’ estimates, as the company’s sales rose
and margins surged.
The maker of industrial pumps and meters also upped its full-year
earnings outlook to $1.75 to $1.80 a share from $1.63 to $1.73 as it
forecast current-quarter earnings of 45 cents to 47 cents a share.
Analysts surveyed by Thomson Reuters expected 43 cents, on average.
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April 19, 2010 at 8:09 a.m.
Filed under:
Banking,
Earnings
Associated Press | Citigroup Inc. provided more evidence that
the nation’s big banks may have turned a corner. The bank reported a
surprise first-quarter profit Monday as trading revenue offset losses
from failed loans.
Citigroup said it earned $4.4 billion after payment of preferred
dividends, compared with a loss of $696 million a year earlier. That
was the bank’s biggest quarterly profit since the second quarter of
2007.
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April 16, 2010 at 6:33 a.m.
Filed under:
Banking,
Earnings
Associated Press | Bank of America said Friday it earned $2.83
billion during the first quarter as strong trading revenue helped the
bank offset continuing losses on consumer loans. The bank’s results
surpassed expectations and provided further evidence that the banking
industry and the economy are recovering. JPMorgan Chase & Co. on
Wednesday also reported improvements in its consumer loan business, but
said continuing credit losses were offset by income from trading.
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April 16, 2010 at 6:14 a.m.
Filed under:
Earnings
Associated Press | General Electric Co. said Friday its first-quarter earnings fell by
almost a third, weighed down by its GE Capital lending unit and lower
profits in its big industrial divisions. The results still beat Wall Street expectations and CEO Jeff Immelt
said the company sees encouraging economic signs. Its shares edged up
in premarket dealings.
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April 15, 2010 at 6:08 p.m.
Filed under:
Earnings
From The New York Times | Search giant Google reported Thursday that net income in the first quarter rose more than 37 percent from the quarter a year ago.
Get the full story: nytimes.com.
