Although Sony Corp posted a smaller-than-expected quarterly loss yesterday, the fact that it was its third-straight quarter in the red didn’t please shareholders. The Japanese electronics maker said that the Net Loss for its fiscal second quarter came in at JPY 26.3B (US$287.5M) compared with a net profit of JPY 20.8B in the year earlier [...]
Yesterday, Sprint Nextel Corp posted a wider third quarter loss, as the United States’ third-largest mobile carrier could not stop subscribers from switching to its rivals. Net loss for the quarter stood at US$478M, up from a loss of US$328M a year ago. Sprint Nextel Corp attempted to lure customers in with Palm Inc.’s Pre [...]
After four consecutive quarters of decline, the US Economy returned to growth in the third quarter of 2009. Between July and September, Gross Domestic Product expanded at an annual rate of 3.5%, beating economists’ forecasts of 3.2%. The Government’s stimulative policies, like the Cash-For-Clunkers program and tax credits for first-time home buyers, seemingly helped to [...]
South Korea’s Samsung Electronics Co Third Quarter Profit More Than Triples to KRW 3.72T (USD 3.1B) from KRW 1.22T a Year Ago, the Company Expects a “Solid” Fourth Quarter Sony Corp Posts Fourth Consecutive Quarterly Loss for its Second Quarter with Net Loss of JPY 26.3B (USD 289mm) from Net Profit of JPY 20.8B a [...]
Disappointing data from the US housing market made investors more cautious, pushing the stock market down yesterday. Analysts, who were predicting a sixth consecutive month of rising new home sales, had their hopes deflated after the numbers were released. September’s new home sales fell unexpectedly by 3.6% to a seasonally adjusted annual rate of 402K, [...]
Just over two weeks ago, Australia became the first developed economy to raise interest rates since the financial debacle spun the world into recession in September 2008. Now, Norway has followed suit, making it the first European country to raise its rates after exiting the recession in the second quarter of this year. The Norwegian [...]
Today’s US Commerce Report Likely to Show that the Economy Expanded 3.3% in Q03 2009 Following Four Consecutive Quarters of Contraction Europe’s Biggest Oil Company, Royal Dutch Shell Plc Reports 62% Decline in Q03 2009 Net Income to USD 3.25B on Falling Energy Prices and Refining Margins Deutsche Bank AG Third Quarter Net Income More [...]
World’s Largest Steel Company by Volume and Revenue, ArcelorMittal Swings Out of Loss to Post Q03 2009 Profit of USD 903mm After Three Straight Quarters in the Red Nomura Holdings Inc, Japan’s Largest Brokerage Reports Second Consecutive Quarterly Profit, Net Income for Q02 2009 stands at JPY 27.7B (USD 303mm) Compared with Loss of JPY [...]
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US Steel Corp is still unable to find its footing, even as economies across the globe have begun to recover from the recession. The company posted its third consecutive quarterly loss for the period ended September 30, 2009. Net loss stood at US$303M or US$2.11 per share for Q03 2009, down from a profit of [...]
Although yesyerday was a good day for oil companies overall, BP PLC outperformed rivals after cost-containment helped its third quarter results to top forecasts. Net profit excluding one-off items and inventory charges fell only 47% to US$4.67B, versus the median analyst prediction of US$3.25B. Still, the earnings weren’t the only achievement BP announced yesterday. It [...]