Company Earnings - Page 8

AP - Bank of America Corp. said first-quarter earnings rose 5 percent, helped by growth in fee income despite a challenging credit environment, buts its revenue was shy of Wall Street expectations.

AP - Altria Group Inc., owner of the Philip Morris cigarette companies, said Thursday that first-quarter income fell by 21 percent as domestic cigarette sales dropped off more severely than expected. More Info...  

Reuters - D.R. Horton Inc. , the largest U.S. home builder, said on Thursday quarterly earnings fell 85 percent, in part due to charges related to the lower value of land.

Reuters - Merrill Lynch & Co. Inc. , the world's largest brokerage, posted a higher-than-expected increase in first-quarter profit on Thursday, as trading revenue rose 42 percent.

FT.com - US stocks pared sharp early losses to stand flat by midday on Thursday as a raft of solid earnings updates helped investors shrug off concerns about the Chinese economy. More Info...  

AP - Merck & Co. Inc. said Thursday its first-quarter profit jumped 12 percent, as the drugmaker posted sharply higher sales of its asthma and cholesterol drugs, plus one-time gains from product divestitures.

Reuters - Altria Group Inc. posted quarterly earnings below expectations on Thursday as weakness in its Philip Morris USA tobacco business overshadowed improved results abroad.

Reuters - Marriott International Inc. , the top U.S. hotel operator, said on Thursday quarterly profit nearly tripled, helped by higher room rates, but the company lowered its outlook for full-year room revenue and shares fell 5.7 percent.

AP - The Dow Jones industrial average closed above 12,800 for the first time Wednesday, signaling Wall Street's recovery from its steep decline in February as investors rewarded companies with strong earnings.

Reuters - Kraft Foods Inc. , the largest U.S. food company, posted lower first-quarter profit on Wednesday as it spent more on marketing to lift sales, but its shares rose 1 percent as it maintained its full-year outlook.

Earnings News AP - JPMorgan Chase & Co. reported a 55 percent surge in first-quarter profit, reflecting strength across most of its primary businesses lines, especially investment banking. More Info...  

AP - EBay Inc. reported Wednesday that first-quarter profit surged 52 percent, trouncing Wall Street expectations thanks to big-spending shoppers overseas and scorching performance of its PayPal electronic transaction division.

AP - Netflix Inc. on Wednesday posted the highest first-quarter profit in its 8-year history, but the online DVD rental pioneer's performance flopped on Wall Street. More Info...  

AP - Motorola Inc. posted its first quarterly loss since 2004 on Wednesday as dismal sales continued to vex the struggling cell phone maker.

AP - Kraft Foods Inc., the world's second-largest food and beverage maker, posted a 30 percent decline in first-quarter earnings Wednesday in reporting results for the first time as an independent company.

AP - Yahoo Inc.'s comeback story took a $5 billion step backward Wednesday as the Internet portal's stock price plummeted by nearly 12 percent in response to a discouraging first-quarter earnings report.

AP - E-Trade Financial Corp. on Wednesday reported first-quarter results that beat Wall Street projections, but the discount brokerage warned recent market turbulence will dent earnings for the year. More Info...  

Reuters - Motorola Inc. reported a quarterly loss on Wednesday and gave a forecast that raised doubts over when the world's second-biggest mobile phone maker could turn around its business and return to profit.

Reuters - AMR Corp. , parent of No. 1 U.S. air carrier American Airlines, swung to an $81 million profit on Wednesday from a year-ago loss as it filled more seats on planes, charged higher fares and paid less for fuel.

Reuters - United Technologies Corp. said on Wednesday strong demand for jet engines and Otis elevators, particularly from foreign markets, helped boost quarterly profit 6.6 percent. More Info...