Exxon Mobil has posted the largest quarterly profit ever for a corporation in the United States: $11.68 billion. The company held the previous record and this is beginning to sound like a broken record!
Exxon Mobil’s record earnings should come as no surprise, as they were mainly driven by record crude oil prices.
The second quarter results revealed that revenues […]
Garmin Ltd, the largest domestic producer of navigation devices, cut its profit and sales forecasts for this year, blaming slower than expected growth and cost-conscious consumers for its modified outlook.
Although the company reported a 23 percent increase in revenues and higher second quarter profits versus the same quarter last year, Garmin’s financials fell short of expectations.
Garmin’s announcement also […]
Sometimes, I have to break out of talking about stocks! Especially, when my favorite businesses are at stake (no pun intended, you will see why soon).
S & A Restaurant Corp., parent company of the restaurant chains Steak & Ale and Bennigan’s Grill and Tavern, has filed for bankruptcy. This morning, Bennigan’s closed all of its company-owned stores.
Bennigan’s […]
Verizon posted better than expected earnings for the recently completed second quarter, proving that it can hold its own in tough economic times.
Revenue increased by just under 4 percent versus last year as the company saw growth in its wireless and FiOS high-speed Internet businesses. Its profit margin in the wireless business exceeded analyst expectations, coming […]
Abercrombie & Fitch lost one of its most vocal executives on Friday, when CFO Michael Kramer resigned.
Mr. Kramer left to join Kellwood Co. as President and Chief Executive Officer. Kellwood markets clothing brands such as Baby Phat, XOXO and Calvin Klein.
In the malls, A & F is known for its teen-driven, and sometimes controversial, clothing line. On Wall […]
Shares of Crocs dropped by more than 40 percent overnight after the company announced a downward revision to its earnings guidance for the second quarter.
The company expected earnings for the second quarter to come in between 42 and 47 cents per share and revised that estimate last night to between 3 and 7 cents. Actual results will be available in about two […]
This week has been a roller coaster for Wachovia.
Tuesday morning: Wachovia announces an $8.9 billion loss accompanied by a massive dividend reduction.
Tuesday afternoon: Shares soared 27 percent on news that the company would not issue new stock to raise capital.
Thursday afternoon: New CEO Robert Steel’s purchase of 1 million shares is made public (Steel purchased the Wachovia shares […]
Ford Motor Co. had a tough quarter. The auto-maker lost $8.67 billion, making the second quarter of 2008 the worst quarter in the history of the firm’s existence.
The vast majority of this loss comes from $8 billion in write-offs associated with plants but even ignoring the write-offs Ford missed expectations by a long shot. Analysts expected Ford […]
McDonald’s reported profits of $1.19 billion on revenue of $6.08 billion, both figures well above the consensus of analyst expectations of $985 million and $5.92 billion, respectively.
Domestically speaking, the fast-food giant has benefited from new menu items and longer hours, as well as tough economic conditions. McDonald’s provides a relatively cheap alternative to other dining out options.
On the […]
Earlier today I wrote about Wachovia’s second quarter earnings, or lack thereof. The company lost a greater than expected $8.9 billion and announced drastic cuts to employees and dividends.
So why on earth did the stock close up over 27 percent today???
Analysts had a lot to say…one issued a price target of $30 on the stock saying, in […]
Where talk is money.
Written by Tisa Silver [email] for b5media.
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