(Reuters) - Banc of America Securities expects Merrill Lynch & Co Inc MER and UBS AG UBSN to write down $3.5 billion and $7 billion respectively in the second quarter and forecast a quarterly loss for the investment banks. Analyst Michael Hecht expects...
By Sinead Carew NEW YORK (Reuters) - Advanced Micro Devices Inc AMD posted a wider-than-expected quarterly loss and named a new chief executive on Thursday, as the chipmaker struggled to regain market share from Intel Corp INTC. But the appointment of Chief Operating...
Meet the new poster boy for excessive CEO pay. He is ousted American International Group CEO Martin Sullivan. Sullivan was kicked out of office this week after shareholders and investors complained that the insurance and financial giant posted two quarters of gigantic losses. According to figures from...
CHICAGO (Reuters) - AMR Corp AMR, parent of American Airlines, on Wednesday posted a quarterly net loss, reversing a year-ago profit, as its fuel bill jumped 47.4 percent. AMR's loss sets the stage for what could be a troubling string of reports from...
GSTAAD, Switzerland AFP — Swiss Stanislas Wawrinka snapped his all-or-nothing career jinx at the Swiss Open on Wednesday, scratching out a 7-6 (8/6), 5-7, 7-6 (7/3) win over doubles partner Stephane Bohli. Wawrinka, competing as a top seed for the first time since reaching the Top 10, avoided...
NEW YORK -- (This amends a press release issued earlier today and contains a revised short-term debt rating for Merrill Lynch & Co., Inc., which should read 'F1', not 'F1+') Fitch Ratings has placed the 'A+' long-term Issuer Default Ratings IDRs of Merrill Lynch Merrill and its subsidiaries...
HEPPNER, Ore. -- Bank of Eastern Oregon and its parent company, BEO Bancorp (OTCBB:BEOB), reports earnings year to date of $1,208,000 through June 30, 2008. This is a 16.3% increase over YTD 2007 earnings of $1,039,000. These positive results come because of continued loan growth, up 25.4% year over year...
NAPA, Calif. -- Charter Oak Bank, (OTCBB:CHOB) headquartered in Napa, California reported net income of $201,000 during the second quarter of 2008, an improvement of $244,000 from the prior year second quarter net loss of $43,000. Year to date, the Bank's net income was $361,000. That represents an increase of...
NEW YORK -- Fitch Ratings has placed the 'A+' long-term Issuer Default Ratings IDRs of Merrill Lynch Merrill and its subsidiaries on Rating Watch Negative. Its short-term IDR and Individual ratings were affirmed. The rating actions follow a review of the investment banking industry. A Negative Rating Watch indicates a...
Company Generates $1,842,000 in Revenues and $500,000 in Profits for the First Quarter of FY2009 SCOTTSDALE, Ariz., July 8 /PRNewswire-FirstCall/ -- EMTA Holdings, Inc., (BULLETIN BOARD: EMHD) , maker of XenTxTM, SynergynTM and other engine treatment and fuel efficiency products, today announced that they had record...
Announces Second Quarter Earnings Release, Conference Call and Webcast NEW YORK, July 8 /PRNewswire-FirstCall/ -- General Maritime Corporation today announced that it expects to report expenses for the second quarter of 2008 related to freight derivatives resulting in realized losses of $4.9 million and unrealized losses...
- Revenue from continuing operations decreased 12.6% for quarter, 7.2% year-to-date - Comparable store sales decreased by 19.8% for quarter, 15.2% year-to-date - Loss income from continuing operations ($644,000) versus $1,675,000 for quarter, ($2,232,000) versus $2,361,000 year to date - Basic EPS ($0.10) versus...
NORDIC BUSINESS REPORT-8 July 2008-Micronic Laser Systems AB reports Q2 operating loss of SEK85mC1994-2008 M2 COMMUNICATIONS LTD http://www.m2.com Swedish high-tech company Micronic Laser Systems AB (OMX Stockholm: MICR) published its second quarter figures on Tuesday (8 July), reporting an operating loss of SEK85m, as compared to a loss...
COLUMBUS, Ohio -- State Auto Financial Corporation (NASDAQ: STFC) today announced its preliminary estimates of losses due to second quarter 2008 catastrophe storm activity. The company expects second quarter 2008 results will include between $76 and $84 million in pre-tax catastrophe losses. The above range includes $3.4 million related to...
THE DALLES, Ore., July 8 /PRNewswire-FirstCall/ -- Columbia Bancorp , the financial holding company for Columbia River Bank, issues earnings guidance for the second quarter of 2008. A higher than anticipated loan loss provision, coupled with the ongoing compression of the net interest margin, has Columbia projecting a...
EVANSVILLE, Ind., July 8 /PRNewswire-FirstCall/ -- Vectren Corporation today stated it expects second quarter 2008 earnings to be below analyst estimates as a result of lower nonutility results. The utility group's second quarter results are expected to show increased earnings over the same quarter in 2007 and...
CHICAGO -- UBS Global Asset Management today announced that its US Pension Fund Fitness Tracker, a quarterly estimate of the overall health of a typical US defined benefit pension plan, shows pension funding ratios rose 3% in the second quarter of 2008. After a painful start to the new year,...
- Estimated Net Operating Earnings of $12.0 Million to $13.0 Million for the Second Quarter of 2008 - - Second Quarter 2008 Net Interest Margin of 5.44% - - Board of Directors Declares a Cash Dividend of $0.32 Per Common Share - SAN DIEGO,...
Sandvine Corporation, (TSX: SVC)(AIM: SAND) a leading provider of intelligent broadband network solutions for DSL, cable, FTTx, fixed wireless and mobile operators, today reported second quarter revenue of $11.1 million. Net loss was $4.6 million, or $0.034 per diluted share, which includes $1.2 million attributable to non-cash, acquisition-related expenses and...
OWINGS MILLS, Md., July 7 /PRNewswire-FirstCall/ -- Universal Security Instruments, Inc. Universal today announced results for its fourth quarter and fiscal year ended March 31, 2008. Universal reported a fourth quarter loss of $5,042,257 or ($2.02) per basic and diluted share on sales of $6,677,293 compared...
