Goldman Earnings Sink After Buffett Dividend
Goldman Sachs' first-quarter income fell 72 percent after the bank paid $1.64 billion in dividends to redeem preferred shares it issued to billionaire investor Warren Buffett during the financial crisis.
The New York investment bank said Tuesday tha...
Johnson & Johnson’s Income Falls 23%
Health care giant Johnson & Johnson says sales rebounded but its profit dropped 23 percent in the first quarter, due to higher expenses, costs of recalls and litigation and a tax gain that boosted results a year ago.
Adjusted earnings topped expec...
Burberry Shares Leap on Sales Update
Shares in British luxury goods company Burberry Group PLC jumped Tuesday after the company reported strong second-half sales and predicted a full-year profit at the top end of market forecasts.
Burberry's popularity in the Asia Pacific region, particu...
Stocks Retreat on U.S. Debt Concerns
A warning from Standard & Poor's that the agency might lower its rating on U.S. government debt sent stocks on their steepest slide in a month Monday.
S&P said there is a 33 percent chance it would lower the country's credit rating from AAA in...
Citi’s Income Falls 32% as Underwriting Slips
Filed under: Citigroup Inc. (C)Citigroup's first-quarter income fell 32 percent on lower revenue from its investment banking business and a decline in consumer loans. The bank was able to set aside fewer reserves for losses as more borrowers were ab...
U.S. Debt Concerns Weigh on Global Stocks
Global stocks sank Monday after a leading credit ratings agency warned of a deteriorating U.S. financial position and investors fretted over a debt default by bailed-out Greece.
Though Standard & Poor's reaffirmed its triple A rating on the U.S., ...
Mattel Net Income Falls on Higher Spending
Filed under: Mattel, Inc (MAT)Sales of Barbie and other dolls helped Mattel Inc.'s revenue rise 8 percent during the first quarter. But higher spending on advertising and other expenses outpaced sales growth and the largest U.S. toy maker's net income ...
Bank of America Earnings Fall 39%
Filed under: Bank of America (BAC)Bank of America Corp.'s first-quarter income fell 39 percent on higher costs related to its mortgage business and higher litigation expenses. The bank also settled a claim over faulty mortgage investments and set aside...
Scuffles, Protests Mar BP Shareholder Meeting
Filed under: BP p.l.c. ADS (BP)Scuffles between protesters and security guards marred BP's first annual shareholder meeting since the Gulf oil spill Thursday, as investors registered their disapproval with sizable protest votes against company director...
Google’s Hiring Spree Weighs on Earnings; Shares Slide
Filed under: Google (GOOG)Google's first-quarter earnings came in below analyst projections as the Internet search leader sped up hiring, driving up its costs.
The results released Thursday may heighten investor fears that Google's earnings might suff...
Google’s Hiring Spree Weighs on Earnings; Shares Slide
Filed under: Google (GOOG)Google's first-quarter earnings came in below analyst projections as the Internet search leader sped up hiring, driving up its costs.
The results released Thursday may heighten investor fears that Google's earnings might suff...
Ford Expands Recall of F-150 Pickups to Nearly 1.2 Million
Under pressure from government safety regulators, Ford Motor Co. is expanding a recall of the popular F-150 pickup truck to include nearly 1.2 million vehicles that may have defective air bags.
The additional recall, announced Thursday by the National...
