AP - Federally insured banks and thrifts set aside a record $37.1 billion to cover losses from soured mortgages and other loans in the first quarter, when profits were nearly halved, regulators said Thursday. -- read full article
Reuters - Dell Inc posted a
higher-than-expected quarterly profit on Thursday, driven by
cost cuts and strong demand from consumers and foreign markets,
and its shares jumped nearly 10 percent.
Reuters - Microchip design company Marvell
Technology Group Ltd on Thursday posted a
better-than-expected quarterly profit thanks to cost cuts and
strong sales of wireless products, and its shares jumped 17
percent. -- read full article
AP - Sears Holding says it swung to a loss in its first quarter as it increased promotions and markdowns to clear slow-moving merchandise. -- read full article
Reuters - Big Lots Inc on Thursday
reported a higher-than-expected 20 percent rise in quarterly
profit, boosted by strong sales at older stores, and the
retailer raised its full-year earnings forecast. -- read full article
AP - Sears Holding Corp. swung to a $56 million first-quarter loss, the retailer reported Thursday, as its customers were forced to spend more of their money to cover the soaring costs of gas and food. -- read full article
Reuters - H.J. Heinz Co on Thursday
raised its forecast for annual earnings growth, with health and
wellness products and emerging markets helping fuel the
increase.
AP - Soaring commodity costs prompted H.J. Heinz Co. to raise prices on a host of consumer products, helping the foodmaker post a 7.2 percent increase in fourth-quarter earnings on Thursday. The company also boosted its dividend. -- read full article
AP - Retailer Sears Holdings Corp. posted its second quarterly loss since Kmart acquired Sears stores in 2005, saying Thursday that it lost $56 million in the first quarter and fell far short of Wall Street forecasts. -- read full article
Reuters - Costco Wholesale Corp , the
biggest U.S. warehouse club operator, on Thursday reported a 32
percent jump in quarterly profit, beating expectations, as
shoppers flocked to its stores for discounts on food and
gasoline.
AP - Costco Wholesale Corp. reported a 32 percent jump in its fiscal third-quarter profit Thursday, topping Wall Street expectations, as cash-squeezed customers flocked to its warehouse clubs in search of bargains on food and toiletries. -- read full article
AP - Digital video recorder pioneer TiVo says its fiscal first-quarter net income soared as operating costs, notably for marketing and research, declined. -- read full article
AP - Digital video recorder pioneer TiVo reported Wednesday that its first-quarter net income more than quadrupled as operating costs, most notably for marketing and research, declined.
