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Chrysler Group LLC, the automaker managed by Fiat SpA, reported a $199 million net loss for the fourth quarter Monday and it expects to be profitable this year, when it plans to go public.
Chrysler, which emerged from a U.S. government-funded bankruptcy in mid-2009, reported fourth-quarter revenue of $10.76 billion, a slight drop from the third quarter due to fewer fleet sales. Get the full story »
Hit by increases losses in its credit portfolio, Taylor Capital Group Inc., the parent of Cole Taylor Bank, reported Friday a fourth-quarter loss of $38.5 million , or $2.21 a share, compared to year-ago quarterly earnings of $30.7 million, or $1.57 a share. Get the full story »
Ford earned its biggest profit in more than a decade in 2010 as robust car and truck sales and years of cost cuts paid off for the company.
The results disappointed Wall Street, however, and Ford’s stock price fell 6 percent to $17.73 in premarket trading. The reaction hinted at the difficulties the company still faces, even though it’s remade itself in recent years.
Infant formula maker Mead Johnson Nutrition Co. said Thursday that its profit climbed 56 percent in the fourth quarter as sales in Asia and Latin America continued to improve. But its forecast for 2011 was short of Wall Street estimates.
The maker of Enfamil said its net income rose to $99.6 million, or 48 cents per share, in the last three months of 2010 from $64 million, or 31 cents per share, a year earlier. Get the full story »
Microsoft Corp. reported a dip in quarterly profit Thursday as sales of personal computers lagged expectations and Apple Inc.’s iPad began to eat away at the fringes of its core market.
The world’s largest maker of software, which powers more than 90 percent of the world’s computers, reported fiscal second-quarter profit of $6.63 billion, or 77 cents per share. That compared with $6.66 billion, or 74 cents per share, a year earlier. The per share figure was higher due to a reduction in shares outstanding from last year. Get the full story »
Baxter International Inc.’s stock lost nearly 4 percent of its value today after the company said fourth-quarter profits fell 26 percent as the company works its way through a turnaround plan and escalating product quality issues.
The Deerfield-based medical product giant’s earnings were negatively impacted by $227 million in charges. The biggest cost was a $164 million charge for what it called a “business optimization” initiative, which included paying severances, shutting down certain product lines and executing an undisclosed number of job cuts. Get the full story »
Shares in Motorola Mobility Holdings were down more than 11 percent, to $30.67, Thursday, a day after strong smart phone launches boosted the handset maker’s results in the fourth quarter.
Bloomberg reported Thursday that the imminent arrival of Apple Inc.’s iPhone at Verizon Wireless had slowed sales at Motorola’s biggest carrier.
To blunt the effect, Bloomberg reported, Chief Executive Officer Sanjay Jha said the company is introducing new phones including the Atrix, trying to sell more handsets through other U.S. carriers and bulk up sales in China and Latin America.
Brunswick Corp. reported another quarterly loss Thursday as economic uncertainty continued to keep buyers out of marine showrooms.
The world’s largest maker of recreational boats posted a fourth-quarter loss of $104.1 million, or $1.17 a share, compared with a loss of $124 million, or $1.40 a share, a year earlier. Get the full story »
Caterpillar Inc. reported a stronger-than-expected quarterly profit Thursday lifted by especially strong sales of its machines and engines in Asia and Latin America.
Caterpillar, the world’s largest maker of earth-moving construction and mining equipment, reported a fourth-quarter net profit of $968 million, or $1.47 a share, up from $232 million, or 36 cents a share, a year earlier. Get the full story »
Potash Corp. said Thursday that its quarterly profit more than doubled, as a surge in grain prices boosted crop nutrient demand and allowed the world’s top fertilizer maker to raise prices on key products. The Chicago and Saskatchewan-based company said fourth-quarter net income rose to $482.3 million, or $1.61 a share, from $239.2 million, or 79 cents a share, a year earlier. Get the full story »
Starbucks Corp., the world’s largest coffee chain, expects rising coffee prices to hit profits more than it previously thought and forecast full-year earnings below analysts expectations.
That news sent its shares down more than 2 percent, even as the company reported profits and U.S. sales that handily topped Wall Street’s targets. Get the full story »
Passengers of United Continental Holdings Inc. should expect a more seamless flying experience by late spring on the recently merged United and Continental Airlines.
By the end of the second quarter, customers will be able to check in for flights at United or Continental counters, the carrier’s two Web sites will operate and sell tickets as an integrated network and the new branding strategy will be apparent, first at United’s hubs. Get the full story »
Chicago-based Tribune Co. said Wednesday that operating cash flow at its two largest publishing units — the Los Angeles Times and Chicago Tribune — was essentially flat in 2010 compared to 2009, while overall operating cash flow increased $140 million to $635 million.
“The past year showed substantial improvement over 2009,” Chandler Bigelow, Tribune Co.’s chief financial officer, said in a statement. Get the full story »
Boeing Co. said Wednesday it expects to deliver at least 25 of its delay-prone 787 Dreamliner and 747-8 jumbo jets this year, but doesn’t anticipate that the planes will give any near-term lift to its financial results.
Production cost over-runs and penalty payments to pacify airline customers mean Boeing won’t make money off those deliveries, executives told analysts and reporters during a quarterly earnings call, admitting the Chicago-based aerospace manufacturer remains concerned about the overall profitability of the best-selling Dreamliner. Get the full story »
Abbott Laboratories said Wednesday that it would cut 1,900 jobs, or 6 percent, of its U.S. workforce in the wake of a series of disappointments in its drug development pipeline, triggering a restructuring of pharmaceutical commercial and manufacturing operations.
Of the cuts, about 1,000 would be in manufacturing operations in Illinois where the largest concentration of Abbott’s estimated 90,000 employees around the world are at its sprawling headquarters in the northern Lake County suburbs of Chicago. The company said about half of the job cuts would take place now with the remainder over the next several years. Get the full story »
