Asset sales boost Clear Channel profit; Deal still in limbo (AP) AP - Clear Channel Communications Inc., a major radio and outdoor advertising company, reported higher first-quarter earnings Friday on asset sales but operating results were flat, reflecting weak demand for radio advertising. Auto parts supplier Delphi reports wider loss (AP) AP - Auto parts maker Delphi Corp. reported on Friday that it lost more money in the first quarter than it did a year ago, but that an increased credit line will still allow it to emerge from bankruptcy protection intact. Clarification: Activision earnings story (AP) AP - In a May 8 story about Activision Inc.'s earnings, The Associated Press reported that the company expected earnings of $1.30 per share after excluding Vivendi Games. The story should have said the adjusted earnings excluded other items as well. Clear Channel posts weaker-than-expected profit (Reuters)
German insurer Allianz 1Q net profit falls 65 percent (AP) AP - German insurer Allianz SE said Friday first-quarter net profit fell 65 percent due to difficult market conditions as it wrote down $1.3 billion tied to the U.S. subprime crisis. Japan Airlines reduces losses in latest quarter (AP)
AIG posts 1Q loss of $7.8B, plans to raise $12.5B (AP)
"Guitar Hero" helps Activision rock Wall Street (Reuters)
Wall Street Beat: Mixed Earnings, M&A News Hit IT (PC World) PC World - After a slow climb during the height of a generally positive earnings season, the IT-heavy Nasdaq hit turbulence this week...
All News Lines - Local and World Wide, Updated Hourly
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AP - After slashing inventory and cutting expenses, the retail industry is still bracing for the largest overall quarterly profit decline in at least nine years when merchants report their first-quarter earnings this week.
Reuters - Clear Channel Communications Inc
posted a weaker-than-expected quarterly profit on
Friday and the U.S. radio station operator said it was unclear
whether a proposed buyout would be completed.
AP - Japan Airlines reduced losses in the January-March quarter from a year earlier on cost cuts but forecast lower profit Friday for this fiscal year, blaming soaring fuel costs and intense competition.
AP - American International Group Inc. says it will raise $12.5 billion in the coming months as the insurer looks to shore up a capital base that has been rocked by deterioration in the credit markets.
Reuters - Activision Inc posted a
quarterly profit on Thursday that blew past expectations as
demand for its "Guitar Hero 3" and "Call of Duty 4" video games
made up for a complete lack of new releases.
