P&G reports profits off 1 percent in 1Q
CINCINNATI (AP) - The Procter & Gamble Co. sees consumers around the globe starting to come back to its household brands and expects sales to strengthen in the months ahead. The world's largest consumer products company reported better-than-expected first-quarter results Thursday and offered an improved outlook after a year of households cutting spending and trading down to cheaper brands.
Motorola posts 3Q profit, names permanent CFO
NEW YORK (AP) - Motorola Inc. reported an unexpected quarterly profit Thursday as operating losses in its struggling mobile phone division narrowed. The company also forecast stronger-than-anticipated earnings for the current period. Motorola shares jumped 64 cents, or 8 percent, to $8.60 in premarket trading.
Sprint Nextel 3Q loss grows on subscriber losses
KANSAS CITY, Mo. (AP) - Sprint Nextel Corp. on Thursday reported a wider third-quarter loss as subscribers continued to leave for other carriers. The company said it lost $478 million, or 17 cents per share, compared with a loss of $326 million, or 11 cents per share, during the same period a year ago.
AutoNation posts profit in 3Q on lower costs
FORT LAUDERDALE, Fla. (AP) - AutoNation Inc., the nation's largest automotive retailer, said Thursday it made money in the third quarter as lower costs and a boost from the Cash for Clunkers program helped it recover from a loss in the year-ago period. Automakers got a lift from clunkers, which spurred sales of nearly 700,000 new vehicles during the summer months. Big rebates lured in many buyers who otherwise would have waited until later in the year to walk into dealerships.
Economy expected to grow in 3Q, heralding recovery
WASHINGTON (AP) - The government issues its first estimate of gross domestic product for the third quarter Thursday, and it's expected to validate the belief that the Great Recession is over. Many analysts expect the economy returned to growth in the July-September quarter, expanding at a pace of 3.3 percent. If they are right, it would end the streak of four straight quarters of contraction, the first time that's happened on records dating to 1947.
Stock futures modestly higher ahead of GDP report
NEW YORK (AP) - Stock futures are pointing to a modestly higher opening Thursday as investors await a key reading on the nation's economic health. Overseas markets were mixed.
Shell Q3 profit falls 62 pct, to cut 5,000 jobs
AMSTERDAM (AP) - Royal Dutch Shell PLC, Europe's largest oil company, reported Thursday a 62 percent fall in profit for the third quarter due to lower oil prices, and said it plans to cut 5,000 jobs to cope with continuing weakness in the global economy. Shell said net profit was $3.25 billion (?2.21 billion), down from $8.45 billion in the same period a year ago. Sales fell 43 percent to $75.0 billion.
Burger King profit slips for first quarter
CHICAGO (AP) - Restaurant chain Burger King Corp.'s fiscal first-quarter profit slipped 6 percent as recession-weary diners stayed home, the company said Thursday. The nation's No. 2 hamburger chain blamed record unemployment - which reached 9.8 percent in September - for keeping customers away from its restaurants. It also acknowledged competitors that slashed prices to lure deal-hunting diners also cut into sales.
Aetna 3Q profit grows 18 percent on enrollment
NEW YORK (AP) - Health insurer Aetna Inc. said Thursday its third-quarter profit rose 18 percent on gains in both commercial and Medicare enrollment. Still, operating earnings slipped 43 percent on lower commercial plan underwriting margins. A boost in premiums was not enough to offset a rise in medical costs.
Waste Management 3rd-quarter profit sinks
HOUSTON (AP) - Waste Management's profit sank in the third quarter, despite rising prices for recycled commodities and cost-cutting. The recession has hit the nation's largest trash hauler as businesses cut costs by disposing of trash less frequently and falling prices for paper and other commodities battered its recycling business.
