Merrill Lynch falls in premarket on 1st-quarter loss, new write-downs; Avant, IBM rise
Apr 17 2008
April 17, 2008 - 08:55 a.m. NEW YORK (AP) - Shares of Merrill Lynch & Co. fell in premarket trading Thursday after the world's largest brokerage reported a first-quarter loss on more than $6 billion in additional write-downs and said it would cut 4,000 jobs. The results missed Wall Street projections. Merrill Lynch shares fell 52 cents to $44.37 in early trading. Epicor Software Corp. shares fell after it lowered its earnings and revenue outlook to reflect weaker-than-expected first-quarter results. The business-software company also said preliminary results show first-quarter earnings and receipts will fall well short of expectations because of lower-than-expected ...
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HNI 1st-qtr profit drops 81 percent on one-time costs, drop in sales amid weak construction
Apr 17 2008
April 17, 2008 - 08:54 a.m. MUSCATINE, Iowa (AP) - Furniture maker HNI Corp. said Thursday its first-quarter profit dropped 81 percent due to one-time costs and a significant drop in office furniture and bottom of fireplace products sales. For the quarter ended March 29, net income fell to $4 million, or 9 cents per share, from $20.7 million, or 43 cents per share in the prior-year quarter. The company said it earned 21 cents per share when restructuring and transition costs are excluded. Analysts polled by Thomson Financial expected profits. of 24 cents per share. Analyst estimates typically exclude one-time ...
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Solar system maker SunPower says 1st-quarter profit jumps as sales increase for both units
Apr 17 2008
April 17, 2008 - 08:51 a.m. SAN JOSE, Calif. (AP) - Solar power products maker SunPower Corp. said Thursday its first-quarter profit rose sharply as sales in both its divisions increased and selling prices strengthened at its components one. Net income for the three months ended March 30 rose to $12.8 million, or 15 cents per share, compared with $1.2 million, or 2 cents per share, during the same period a year earlier. The most recent figures include $4.3 million in non-cash amortization costs and $14.5 million in non-cash stock-based compensation costs, as well as impairment charges of $2.2 million tied to the ...
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Landstar System 1Q profit rises 10 pct. on transportation logistics segment revenue
Apr 17 2008
April 17, 2008 - 08:50 a.m. JACKSONVILLE, Fla. (AP) - Landstar System Inc. said Thursday its first-quarter earnings rose 10 percent, as sales of its transportation logistics services offset the effects of a weak freight environment. The trucking and logistics company earned $23.7 million, or 45 cents per share, compared with $21.6 million, or 38 cents per share, in the year-ago quarter. Revenue rose 6 percent to $608.8 million, from $576.6 million a year earlier. Transportation logistics segment revenue rose to $599.6 million from $567.4 million in the prior-year sentence. The company had previously reported this segment as its carrier and ...
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