Bombardier Inc. reported a 5% drop in its second quarter earnings Thursday as the company said reiterated its plans to fly its new CSeries aircraft in the “coming weeks.”
The Montreal plane and train maker reported an adjusted net income of $158-million, or 9 cents a share, compared to $167-million, or 9 cents a share, a year ago. The result was in line with expectations.
Revenue for the quarter was up 7% to $4.4-billion.
Host Hotels & Resorts Inc. (HST), the largest lodging real estate investment trust ((REIT)) in the U.S., reported third quarter 2010 FFO (funds from operations) of $75 million or 11 cents per share, compared to $66 million or 11 cents per share in the year-earlier quarter.
Another year, another failure by Citigroup to i) pass the Fed's stress test and ii) be able to stop investing cash in such idiotic fundamental concepts as CapEx, and instead reward activist shareholders with increased dividends and buybacks.
The federal government has been partially shut down for 4 days, and it appears likely that the situation could continue for a while longer. As the shutdown continues, the political focus has begun to shift to the next deadline: the Treasury expects to exhaust its borrowing capacity by October 17. Goldman expects the Treasury’s cash balance to be depleted no later than October 31 and possibly quite a bit sooner.
Michael Kudrna submits: As expected, Santarus (SNTS) reported a 3rd quarter loss after-hours Monday (see conference call transcript here). This was mostly attributed to reduced sales because of generic Zegerid competition, one-time costs and the fact that their diabetes drug GLUMETZA shipm
Fluor Corporation (FLR) reported earnings per share from continuing operations of 76 cents for the first quarter of 2010 compared with the Zacks Consensus Estimate of 74 cents. Revenue was $4.9 billion, down from $5.8 billion in the first quarter of 2009.
Oil and gas companies with a focus on the upstream segment of the supply chain will continue to be the biggest losers in the industry in the near term. This is because crude oil prices trade around a six-year low, and chances for substantial recovery in the near future are quite low.
Since last June’s peak, global crude oil prices have plummeted more than 59% from $110 per barrel to $45 per barrel. This has heavily subjugated the performance of exploration and production (E&P) companies’ stocks.
Tokyo (AFP) - Japanese inflation fell back to zero in July while household spending dropped again, official data showed Friday, with the disappointing data sure to stoke speculation that the central bank would unleash more stimulus.
By Posts At Eventide: On February 27th Apple (AAPL) will host its annual meeting of shareholders. While much attention is being paid to the company's holdings of cash and marketable securities and the recent sell-off in the share price, very little attention is focused on the company's organic growth.