8:34 AM EST January 31 2008
MBIA, bond insurer, rebounded after the comments from the company management that it will preserve its AAA bond insurer rating from rating agencies. The company countered claims made by Pershing Square hedge fund that it has adequate capital to maintain its rating and it is in a position to raise more capital if needed. The company also said that its losses related to sub-prime and other bonds are not likely to exceed $3 billion compared to assertion of nearly $6 billion by hedge funds.
10:25 AM EST January 31 2008
The company reported sales of $5.67 billion in its historically strongest quarter, up 42% from $3.99 billion in the same quarter last year. Amazon’s gross margin declined to 20.6% from 21.3% last year. The company sees sales in the current quarter in the range of $3.95 billion to $4.15 billion, up between 31% and 38% from the first quarter of fiscal 2007. Operating income is expected to increase 38% in the first quarter.
1:56 PM EST January 30 2008
The fast-food giant posted a better-than-expected quarterly profit, but U.S. same-store sales in December remained flat. Earnings without tax benefit rose 21% to 73 cents a share, while revenue increased 6% from a year ago to $5.75 billion. The company’s global same-store sales advanced 6.7%. McDonald''s expects U.S. same-store sales in January to grow 1.5% from a gain of 3.6% a year earlier.
10:24 AM EST January 30 2008
UPS today reported adjusted diluted earnings per share of $1.13 for its fourth quarter, an 8.7% increase over last year. Revenue improved 6.1% driven by a double-digit increase in international export volume. Average daily number of packages handeled increased to by 0.36 million to 17.7 million.
10:03 AM EST January 30 2008
Yahoo revenue in the fourth quarter rose 8% to $1.8 billion from a year ago and revenues excluding traffic acquisition gained 14% to $1.4 billion. Net income fell in the quarter fell to $260 million or 15 cents per share from $269 million or 19 cents per share from a year ago.
1:01 PM EST January 25 2008
The defense contractor attributed the net income growth to robust sales at its aeronautics division and added that sales in 2007 rose 6% to $41.9 billion. The aeronautics division had a profit of $1.5 billion on $12.3 billion in sales, compared with net income of $1.2 billion on $12.2 billion in sales a year ago. Lockheed Martin raised its forecast for earings per share in 2008 between $7.05 and $7.25 per share, from the previous estimate of $6.95 to $7.15.
6:32 PM EST January 24 2008
Microsoft second quarter revenue rose 30% from a year ago to $16.37 billion as Winows Vista operating system sales gained momentum. Operating earnings in the quarter surged 87% to $6.48 billion and earnings per share increased to 50 cents compared to 26 cnets a year ago. In the prior year deferred sales of Vista and Office prodcuts affected sales. Xbox console life time sales reached 17.7 million at the end of the quarter.
1:25 PM EST January 24 2008
Nokia fourth quarter sales increased 34% to 15.7 billion euros and 5% rise in mobile phone division sales to 7.4 billion euros. Nokia reported fourth quarter earnings per share of 47 euro cents, a rise of 57% from 206 on 15.7 billion euro an increase of 34%. Nokia device volumes in the quarter increased to 133.5 million units, up 27% from a year ago in the fourth quarter.
1:21 PM EST January 24 2008
The cell phone maker reported revenue decline of 18% amid slowing phone sales and warned it expects a loss in the current quarter. Earnings dipped to 4 cents per share from 22 cents per share. Motorola said it expects first quarter earnings in the range 5 cents per share to 7 cents per share. Motorola''s share of the global mobile phone market slipped to about 12.4% by the end of the quarter from 23% a year ago.
2:51 PM EST January 23 2008
Apple Inc first quarter profit surged 58% to $1.58 billion, as Macintosh and iPhones sales rise. Revenues gained to $9.6 billion from $1.7 billion. International sales accounted for 45% of total revenues. In the quarter Apple sold 22 million iPod units. The company lowered second quarter earnings guidance to 94 cents per share on revenues of $6.8 billion. Apple stock fell sharply after the earnings news as market worried that economic slowdown may hit sales.