http://www.rttnews.comGlobal financial news, market analysis, economics and forex newsen-usSat, 07 Nov 2009 11:45:00 GMTComputer server and software maker Sun Microsystems Inc., on Friday reported a narrower loss in its first quarter, helped primarily by lower expenses as a result of the company's cost saving measures.http://www.rttnews.com/ArticleView.aspx?Id=1121462&Category=Top%20storyFri, 06 Nov 2009 23:58:27 GMTGovernment-sponsored home mortgage finance company Freddie Mac, Friday posted a narrower loss for the third quarter, helped by higher net interest income, and investment gains. The company said it had successfully avoided the need of additional funding from the Treasury for the second straight quarter, as the value of its securities increased. Looking ahead, the company expects to request additional funds from Treasury due to the prolonged deterioration of market conditions.http://www.rttnews.com/ArticleView.aspx?Id=1121461&Category=Top%20storyFri, 06 Nov 2009 23:36:32 GMTStocks saw only slim moves to close out the week on Friday, as subdued reaction to monthly employment figures kept the major averages near the unchanged mark. The major averages were able to recover from a pullback at the opening bell and managed to close modestly higher. Despite some shaky sessions this week, the major averages all finished considerably higher, with the Dow and the S&P 500 advancing by 3.2 percent and the Nasdaq climbing by 3.3 percent.http://www.rttnews.com/ArticleView.aspx?Id=1121355&Category=Top%20storyFri, 06 Nov 2009 20:53:33 GMTMedical device maker Boston Scientific Corp. Friday said it has reached an agreement in principle with the U.S. Department of Justice related to product advisories issued by its Guidant subsidiary in 2005. The company will pay $296 million on behalf of Guidant to settle the DOJ investigation. Boston Scientific also updated its third quarter results to include the the charge related to the settlement and now indicating a net loss of $94 million for the quarter.http://www.rttnews.com/ArticleView.aspx?Id=1121067&Category=Top%20storyFri, 06 Nov 2009 15:58:18 GMTFar and away the widest release of the weekend, Disney's "A Christmas Carol" will hit more than 3,600 theaters and should easily be the number one overall draw amongst a fairly eclectic group of releases. Horror/thriller "The Box" should also command a fairly decent audience share along with thriller "The Fourth Kind," though there will be some overlap, as both releases are PG-13. R-rated comedy "The Men Who Stare At Goats" is the fourth wide release of the weekend.http://www.rttnews.com/ArticleView.aspx?Id=1121022&Category=Top%20storyFri, 06 Nov 2009 15:17:17 GMTPower generator and distributor Edison International reported Friday an 8.2% year-over-year decline in profit for the third quarter. Significantly lower results at its subsidiary, Edison Mission Group were partially offset by higher results at the other subsidiary Southern California Edison.http://www.rttnews.com/ArticleView.aspx?Id=1121005&Category=Top%20storyFri, 06 Nov 2009 14:55:24 GMTPublicly owned asset management holding company Brookfield Asset Management, Inc. (BAM, BAM-A.TO) on Friday reported a decline in profit for the third quarter, as revenues dropped from last year. Nevertheless, net earnings and revenues for the quarter came in above Street estimates. The company's cash flow from operations for the quarter rose from last year, reflecting higher realization gains due to the partial monetization of power-generation facilities.http://www.rttnews.com/ArticleView.aspx?Id=1121004&Category=Top%20storyFri, 06 Nov 2009 14:53:17 GMTKingsway Financial Services Inc. Friday reported a wider loss for the third quarter of fiscal 2009, hurt by lower net premiums earned and a decline in investment income. The property and casualty insurer said that no dividend will be declared for the third quarter and it is on track to return to profitability in 2010.http://www.rttnews.com/ArticleView.aspx?Id=1121000&Category=Top%20storyFri, 06 Nov 2009 14:49:06 GMTFriday, electric utility company Mirant Corp. (MIR ), reported a plunge in profit for the third quarter, in the the absence of hefty hedging gains from last year. However, on an adjusted basis, net income rose from last year and came in well ahead of Street estimates. The company also lowered its forecast for 2009 adjusted earnings before interest, taxes, depreciation and amortization, but raised its outlook for fiscal year 2010.http://www.rttnews.com/ArticleView.aspx?Id=1120954&Category=Top%20storyFri, 06 Nov 2009 14:10:27 GMTAmerican International Group Inc. on Friday reported a profit for the third quarter, the second in a row, helped by a recovery in the value of its investments. However, the company said it expects continued volatility in reported results in the coming quarters, due in part to charges related to ongoing restructuring activities. AIG is presently in the process of consolidation by selling assets and spinning off some subsidiaries to repay bailout loans received earlier from the federal government.http://www.rttnews.com/ArticleView.aspx?Id=1120916&Category=Top%20storyFri, 06 Nov 2009 13:47:22 GMTExtending the long drawn-out acquisition battle, fertilizer maker CF Industries Holdings, Inc. Friday said its board of directors rejected agricultural nutrients maker Agrium Inc.'s latest revised proposal to acquire all outstanding shares of the company. Agrium has been approaching CF with buy-out offers since the beginning of the year, while CF has been trying to purchase rival Terra Industries Inc.http://www.rttnews.com/ArticleView.aspx?Id=1120914&Category=Top%20storyFri, 06 Nov 2009 13:46:34 GMTLifestyle content and interactive services operator Scripps Networks Interactive Inc. posted higher profit for the third quarter, reflecting strong affiliate fee revenue growth and improved advertising sales at its flagship cable television networks Food Network and HGTV. The company expects Shopzilla segment profit to be above $30 million for the full year.http://www.rttnews.com/ArticleView.aspx?Id=1120892&Category=Top%20storyFri, 06 Nov 2009 13:28:53 GMTEmployment fell by more than expected in the month of October, according to a report released by the Labor Department on Friday, with the continued decrease in jobs pushing the unemployment rate up to a new twenty-six year high above 10 percent. The report showed that non-farm payroll employment fell by 190,000 jobs in October following a revised decrease of 219,000 jobs in September. Economists had expected a decrease of about 175,000 jobs.http://www.rttnews.com/ArticleView.aspx?Id=1120879&Category=Top%20storyFri, 06 Nov 2009 13:16:58 GMTAirline Air Canada reported Friday a profit for the third quarter compared to a loss in the year-ago quarter, reflecting a significant gain on foreign exchange as well as a decrease in operating expenses on lower fuel expenses. Air Canada said traffic declined 2.1% on a 3.3% cut in capacity, which resulted in a decrease in passenger load factor of 1.0 percentage point.http://www.rttnews.com/ArticleView.aspx?Id=1120858&Category=Top%20storyFri, 06 Nov 2009 13:06:36 GMTSentiment on the Street seems to be cautiously optimistic Friday morning, as relayed by the index futures, which are currently in positive territory. Following a strong performance by the markets on Thursday in reaction to the fairly positive readings on the job market and productivity, traders now look ahead to the monthly non-farm payroll employment report to be released before the markets open.http://www.rttnews.com/ArticleView.aspx?Id=1120709&Category=Top%20storyFri, 06 Nov 2009 12:00:09 GMTMedical technology business Smith & Nephew Plc Friday reported higher third-quarter profit despite a decline in revenues, driven by lower costs and expenses.http://www.rttnews.com/ArticleView.aspx?Id=1120637&Category=Top%20storyFri, 06 Nov 2009 11:12:47 GMTLifestyle content and interactive services provider Scripps Networks Interactive, Inc. is scheduled to announce its third-quarter results before the market opens Friday. Wall Street analysts expect a year-on-year decline in the company's earnings and revenues for the quarter.http://www.rttnews.com/ArticleView.aspx?Id=1120608&Category=Top%20storyFri, 06 Nov 2009 10:49:46 GMTRoyal Bank of Scotland Group Plc, the U.K.'s largest government-controlled bank, reported Friday a net loss for the third quarter, compared to a profit in the same period last year. The results reflected hefty impairments and credit market write-downs, amid the difficult economic environment. For the third quarter, loss attributable to shareholders was GBP 1.80 billion versus a profit of GBP 871 million last year.http://www.rttnews.com/ArticleView.aspx?Id=1120592&Category=Top%20storyFri, 06 Nov 2009 10:31:23 GMTBritish Airways Plc Friday reported a pre-tax loss for the first-half ended September 30, as the recessionary environment continued to hurt traffic, driving down revenues by nearly 14%. The UK flag carrier also reported a 1.9% decline in traffic for the month of October as capacity reduced by 6.4%. Further, the airlines said it sees revenue to likely be GBP 1 billion lower this year. Pre-tax loss for the half-year was GBP 292 million.http://www.rttnews.com/ArticleView.aspx?Id=1120541&Category=Top%20storyFri, 06 Nov 2009 09:29:51 GMTCanada's largest energy company Suncor Energy Inc. (SU,SU.TO), after the merger with its rival Petro-Canada, reported its quarterly results Friday, posting higher profit for the third-quarter. However, operating earnings dropped year-over-year, mainly due to lower prices and higher operational expenses in its oil sands segment. The company earned C$929 million for the recent quarter, compared to C$815 million last year. On a per share basis, earnings fell to C$0.74 from C$0.86 a year ago.http://www.rttnews.com/ArticleView.aspx?Id=1120540&Category=Top%20storyFri, 06 Nov 2009 09:27:01 GMTPower generator and distributor Edison International (EIX) is scheduled to report third-quarter results before the market opens on Friday. On average, 10 analysts polled by Thomson Reuters expect the company to earn $1.04 per share for the quarter with estimates in the range of $0.96 - $1.15 per share. Revenues are estimated to be $3.76 billion. Analysts' estimates typically exclude special items.http://www.rttnews.com/ArticleView.aspx?Id=1120358&Category=Top%20storyFri, 06 Nov 2009 05:35:19 GMTThe 2,000-crore Hyderabad-based GVK Power and Infrastructure Ltd. said its wholly owned subsidiary GVK Airport Developers Pvt. Ltd had acquired a 12% take in Bengaluru International Airport Ltd., or BIAL, from Flughafen Zurich AG for a consideration of Rs.485 crore, say media reports.http://www.rttnews.com/ArticleView.aspx?Id=1120345&Category=Top%20storyFri, 06 Nov 2009 05:00:36 GMTCanadian auto parts supplier Magna International Inc. (MGA, MG.A.TO) on Thursday reported a profit for the third quarter compared to a loss in the year-ago period, helped by restructuring actions and cost-cutting measures. However, revenues for the quarter declined 16% from last year, mainly on lower North American and European vehicle production. The company noted that North American vehicle production increased 32% from the preceding second quarter. Magna's quarterly results come just days after General Motors Co.'s decision to back out of a planned sale of its German unit Adam Opel GmbH to a consortium led by Magna.http://www.rttnews.com/ArticleView.aspx?Id=1120319&Category=Top%20storyThu, 06 Nov 2009 03:49:34 GMTReal estate investment trust Public Storage, Inc. (PSA) reported Thursday that funds from operations or FFO, for the third quarter surged from last year, helped by foreign currency exchange gains. The FFO per share for the quarter rose and came in significantly above analysts' expectations.http://www.rttnews.com/ArticleView.aspx?Id=1120290&Category=Top%20storyThu, 06 Nov 2009 01:58:51 GMTNatural gas and electricity provider Dominion Resources Inc. (D) said Thursday that it has filed a proposed electric-rate case settlement with the Virginia State Corporation Commission that will return about $400 million to customers and reduce monthly electric bills. The company said that the proposed settlement agreement, if approved by regulators, would have a negative impact on its fourth quarter and full-year 2009 reported earnings, although it isn't expected to hurt operating earnings. The company affirmed its operating earnings outlook for fiscal years 2009 and 2010. http://www.rttnews.com/ArticleView.aspx?Id=1120266&Category=Top%20storyThu, 06 Nov 2009 01:20:05 GMTThursday, government-sponsored home mortgage finance company, Fannie Mae reported a heavy loss for the third quarter on higher credit related expenses, impairments and fair value losses. Further, the company said it has applied for additional $15.0 billion aid from the federal government and is dependent on the continued support of Treasury for operating its business.http://www.rttnews.com/ArticleView.aspx?Id=1120234&Category=Top%20storyThu, 06 Nov 2009 00:01:53 GMTThursday, maker of slot machines International Game Technology reported a loss in its fourth quarter, hurt primarily by non-cash charges. The company witnessed a decline in revenues, reflecting the on-going effects of difficult global economic conditions that have impacted both gaming operators and casino patrons.http://www.rttnews.com/ArticleView.aspx?Id=1120143&Category=Top%20storyThu, 05 Nov 2009 22:52:59 GMTThursday, beverage company Hansen Natural Corp. (HANS) reported a higher profit for the third quarter, as revenues rose 8.1% on sustained strong sales of Monster Energy drinks. However, Hansen shares have lost more than 9% in after-hour session, as results were below the Street view.http://www.rttnews.com/ArticleView.aspx?Id=1120137&Category=Top%20storyThu, 05 Nov 2009 22:44:45 GMTThursday, life science company Millipore Corp. reported an increase in third quarter earnings, reflecting a 4% growth in revenues driven by strong performance from its Bioprocess Division. Both earnings and revenues came in ahead of Street estimates. The Billerica, Massachusetts-based Millipore's third quarter net income available to the company increased to $39.66 million or $0.71 per share, up from $37.80 million or $0.68 per share a year ago.http://www.rttnews.com/ArticleView.aspx?Id=1120081&Category=Top%20storyThu, 05 Nov 2009 21:51:49 GMTMass media company CBS Corp., on Thursday posted a profit for the third quarter from a loss last year, reflecting increased growth in television revenues from higher license fees and affiliate revenues, as well as higher syndication sales. For the third quarter, the New York-based company posted net earnings of $207.6 million or $0.30 per share, compared to a net loss of $12.46 billion or $18.58 per share in the year ago quarter. Revenues slid to $3.35 billion from $3.38 billion last year.http://www.rttnews.com/ArticleView.aspx?Id=1120058&Category=Top%20storyThu, 05 Nov 2009 21:36:22 GMT