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Bank of New York Mellon (BK)
Bank of NY Mellon reported a Q3 net loss of $2.05 per share on net losses of $2.5 billion versus earnings of $0.26 per share on a net profit of $303 million for the year ago period.
The current quarter’s losses include a one-time pre-tax charge of $4.8 billion to restructure its investment portfolio. Excluding the one-time charge the company earned $0.54 per share and beat analyst forecasts of $0.48 per share.
Oct 20 · 11:11:00 AM · Source: CNBC
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by Michael Oliveto
Great Atlantic & Pacific Tea Company, Inc. (the) (GAP)
The Great Atlantic & Pacific Tea Company, Inc. (A&P, NYSE Symbol:GAP) today announced Eric Claus, President and Chief Executive Officer, will be leaving the Company effective immediately.
The Company has commenced a search for a successor and in the interim, Christian Haub, Executive Chairman of the Board, will reassume the Chief Executive Officer responsibilities, a position he previously held from 1998 until 2005.
Oct 20 · 10:57:00 AM
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by Larry Etter
Forest Laboratories (FRX)
Forest Laboratories said quarterly revenues increased to $1,063,934,000 versus year prior period of 992,506,000. Net income for the quarter was $186,662,000 vs. $244,086,000
Oct 20 · 10:55:00 AM · Source: Business Wire
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by Larry Etter
Coca-Cola (KO)
Coca-Cola Co., the world’s largest soft-drink maker, said third-quarter profit rose less than 1 percent as volume gains in Mexico and China were countered by a decline in North America. The shares fell in New York trading.
Net income increased to $1.9 billion from $1.89 billion a year earlier, the Atlanta-based company said today in a statement. Revenue fell 4.2 percent to $8.04 billion, the company said.
Coke CEO said consumer sentiment will recover slowly into 2010.
Oct 20 · 10:48:00 AM · Source: Bloomberg
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by Larry Etter
Caterpillar (CAT)
Caterpillar Inc. (CAT) exceeded third-quarter profit expectations by a wide margin as the company slashed its costs in response to continued falling sales of construction machinery.
The company's revenue in the quarter plunged 44% from a year ago, while income fell 53%. But Caterpillar said its sales skid has likely reached a bottom, prompting the company to narrow its profit range for 2009 and predict revenue this year would be about $32.5 billion, the lower end of its earlier range.
The company now expects to earn $1.85 per share to $2.05 a share, excluding costs for layoffs and idle plants, compared with its previous prediction of $1.15 per share to $2.25 per share
Oct 20 · 10:41:00 AM · Source: Dow Jones
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by Larry Etter
Labranche & Co., Inc. (LAB)
LaBranche & Co. said third quarter revenues fell to $29,255,000 from $77,310,000 in the comparable prior period. The quarterly loss applicable to common shares was 8,900,000 vs. a loss of $5,587,000.
Oct 20 · 10:36:00 AM · Source: Business Wire
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by Larry Etter
Apple (AAPL)
Apple announced financial results for its fiscal 2009 fourth quarter ended September 26, 2009. The Company posted revenue of $9.87 billion and a net quarterly profit of $1.67 billion, or $1.82 per diluted share. These results compare to revenue of $7.9 billion and net quarterly profit of $1.14 billion, or $1.26 per diluted share, in the year-ago quarter.
“We are thrilled to have sold more Macs and iPhones than in any previous quarter,” said Steve Jobs, Apple’s CEO. “We’ve got a very strong lineup for the holiday season and some really great new products in the pipeline for 2010.”
“We are delighted with our September quarter and fiscal 2009 results,” said Peter Oppenheimer, Apple’s CFO. “For the full year, we grew revenue by 12 percent and net income by 18 percent in extraordinarily challenging times. Looking ahead to the first fiscal quarter of 2010, we expect revenue in the range of about $11.3 billion to $11.6 billion and we expect diluted earnings per share in the range of about $1.70 to $1.78.”
Oct 20 · 10:33:00 AM · Source: Apple Press Release
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by Rich Pike
NCR Corp. (NCR)
NCR Corporation (NYSE: NCR) Tuesday launched its first outdoor DVD-rental kiosk, the NCR SelfServ Entertainment 2381. Able to hold as many as 950 DVDs, this weather-protected outdoor kiosk is the most secure and highest-capacity outdoor DVD-rental kiosk in the industry.
Through its new outdoor kiosk, NCR will be able to extend its deployment of BLOCKBUSTER Express™-branded DVD-rental kiosks to more convenience store and smaller-footprint, 24-hour retail locations.
Oct 20 · 10:19:00 AM · Source: Business Wire
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by Larry Etter
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