Oct. 22, 2010 at 3:21 p.m.
Filed under:
Earnings,
Energy,
Updated
By Julie Wernau
Commonwealth Edison is asking the Second Appellate Court to rehear its case following a decision earlier this month that removed the funding mechanism ComEd was using to pay for a smart grid pilot program in the Chicago area.
The decision also overturned a precedent the Illinois Commerce Commission has used for years to determine how much consumers pay on utility bills, a change that would mean an annual revenue loss of tens of millions of dollars for ComEd’s parent, Exelon Corp. and possible rebates for consumers.
The court has not decided if or when it will rehear the case. Get the full story »
Oct. 22, 2010 at 7:40 a.m.
Filed under:
Earnings,
Energy
By Associated Press
Exelon says its third-quarter net income rose 12 percent as stifling summer heat led more people to crank up their air conditioners. The company is also raising its forecast for the year. The Chicago utility company said Friday it earned $845 million, or $1.27 per share, compared with $757 million, or $1.14 per share a year earlier. Get the full story »
Oct. 21, 2010 at 4:47 p.m.
Filed under:
Earnings,
Government,
Regulations
By Reuters
Office Depot Inc., its chief executive and a former executive agreed to collectively pay more than $1 million to settle regulator’s charges of improper disclosures, the Securities and Exchange Commission said Thursday.
The SEC had accused the company, its CEO Stephen Odland and former chief financial officer Patricia McKay of conveying to analysts and big investors that the company would not meet analysts’ earning estimates for the second quarter of 2007. Get the full story »
Oct. 21, 2010 at 2:36 p.m.
Filed under:
Construction,
Earnings,
Updated
By Reuters
Caterpillar Inc. reported stronger-than-expected earnings on Thursday and raised its full-year forecast, but warned that a number of factors could weigh on its performance next year, and its shares fell as much as 2.8 percent.
The world’s largest maker of earth-moving equipment, which last year had its worst one-year decline in sales since the Great Depression, said it expected sales next year to snap back to pre-recession levels. Get the full story »
Oct. 21, 2010 at 1:27 p.m.
Filed under:
Banking,
Earnings
By Associated Press
Regional bank operator PNC Financial Services Group Inc. said Thursday that its third-quarter income nearly doubled as it set aside sharply less money to cover bad loans. Get the full story »
Oct. 21, 2010 at 12:06 p.m.
Filed under:
Earnings,
Food,
International,
Restaurants,
Updated
By Emily Bryson York
A McDonald's restaurant in Bismark, N.D. (AFP/Karen Bleier)
McDonald’s shares hit an all-time high after the restaurant chain said its third-quarter profit surged 10 percent to $1.4 billion on growth in “all areas of the world.” Shares in McDonald’s were up 2.57 percent to $79.40 in morning trading on the New York Stock Exchange.
Comparable sales grew 6 percent worldwide, 5.3 percent in the U.S., 4.1 percent in Europe and Asia/Pacific, and 8.1 percent in the Middle East and Africa.
Earnings per share increased 12 percent to $1.29. Revenues were up 4 percent to $6.3 billion. Analysts polled by Thompson Reuters had been expecting $6.23 billion in revenues and earnings per share of $1.25. Get the full story »
By Becky Yerak
Mark Hoppe said it has taken more than 990 days, but the chief executive of Taylor Capital Group Inc. said the parent of Cole Taylor Bank has finally turned a quarterly profit.
“Wow, that feels good,” Hoppe, who joined the Chicago-based company from LaSalle Bank in 2008, told analysts during a conference call Thursday morning to discuss third quarter earnings.
But he said he’s “not standing on an aircraft carrier like George W. Bush did.” Get the full story »
Oct. 21, 2010 at 10:08 a.m.
Filed under:
Earnings,
Pharmaceuticals,
Updated
By Bruce Japsen
Baxter International Inc. reported third-quarter profits up 12 percent on improved sales of medication delivery devices.
The Deerfield-based medical product giant reported profits of $595 million, or $1.01 per share, compared to $530 million, or 87 cents a share in the third quarter of 2009. Revenues rose 3 percent to $3.2 billion. Get the full story »
Oct. 21, 2010 at 7:56 a.m.
Filed under:
Banking,
Earnings
By Reuters
Northern Trust Corp reported a 17 percent decline in third-quarter profit, falling short of Wall Street forecasts, as the financial services group earned less for loaning out securities.
The Chicago-based company said net income was $155.6 million, or 64 cents per share, down from $187.9 million, or 77 cents, a year earlier. Analysts had expected 71 cents a share, according to Thomson Reuters I/B/E/S. Get the full story »
Oct. 21, 2010 at 6:34 a.m.
Filed under:
Airlines,
Earnings,
M&A,
Travel
By Julie Johnsson
Buoyed by a global rebound in travel, United and Continental airlines flew into the black during their last quarter as independent carriers.
United Continental Holdings Inc., the parent company created by the airlines’ Oct. 1 merger, reported that United’s net income soared to $473 million or $2.12 per share, excluding fuel and merger-related charges during the third quarter. That’s a $533 million improvement from 2009 results. Get the full story »
Oct. 20, 2010 at 5:41 p.m.
Filed under:
Banking,
Earnings,
Economy,
Investing
By Associated Press
Morgan Stanley became the latest investment bank to report weaker results Wednesday from a trading slowdown during the summer, reporting a net loss during the third quarter as revenue fell 20 percent.
Oct. 20, 2010 at 5:04 p.m.
Filed under:
Earnings,
Manufacturing
By Dow Jones Newswires
AptarGroup Inc.’s third-quarter earnings rose 40% to beat views, but the product-dispenser maker was downbeat about earnings for the current quarter because of dollar strength and a tough comparison. Get the full story »
Oct. 20, 2010 at 4:45 p.m.
Filed under:
Earnings,
Technology
By Reuters
EBay Inc. posted a better-than-expected quarterly profit and forecast stronger earnings for the holiday season as the Internet commerce company strives to reinvigorate its main marketplaces unit. Get the full story »
Oct. 20, 2010 at 4:32 p.m.
Filed under:
Earnings,
Entertainment
By Associated Press
Netflix Inc. on Wednesday said its third-quarter net income grew as the online movie rental company continued to attract subscribers, particularly to its Internet streaming service.
The company also raised its subscriber growth forecast for the current quarter, sending shares higher in after-hours trading.
Oct. 20, 2010 at 1:22 p.m.
Filed under:
Banking,
Earnings,
Stock activity
By Becky Yerak
First Midwest Bancorp Inc., the $8.38 billion-asset parent of First Midwest Bank, missed Wall Street’s expectations for its third-quarter results, sending the Itasca-based lender’s shares down 13.7 percent in mid-afternoon trading.
By some measures, credit trends took a turn for the worse. Get the full story »
