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Apple Earnings Rise 36%; Profit Forecast Falls Short
Apple Inc. (NASDAQ:AAPL) reported a 36 percent jump in second-quarter profit after winning customers for Macintosh personal computers. The stock fell after the earnings forecast fell short of some projections.
Starbucks Blames Weak Economy In U.S. for Lower Outlook for Year
Starbucks Corp. (NASDAQ:SBUX) projected lower fiscal second-quarter profits and cut its full-year earnings forecast amid continued U.S. sales weakness.
Amazon’s Forecast Gives Pause
Amazon (NASDAQ:AMZN) edged out Wall Street’s estimates for the first quarter but lowered its outlook for operating income for the full year.
Motorola Settles Iridium Unit’s Creditor Claims
Motorola Inc. (NYSE:MOT), the world’s third- biggest mobile-phone maker, settled claims by creditors of its bankrupt former satellite unit Iridium LLC, eliminating the last obstacle to winding up a nine-year bankruptcy.
Boeing, Microsoft Boost Dow; Nasdaq Climbs as Techs Rise
Major stock benchmarks ended trade on Wednesday mildly better off than they started, led by shares of technology companies, as new earnings reports offered little fresh guidance to anxious investors.
Philip Morris Smokes Estimates
Philip Morris International (NYSE:PM), the cigarette seller that was recently spun off from Altria (NYSE:MO), topped analysts’ estimates for the quarter in which it became an independent company.
Qualcomm Profit Climbs 5.5% on Demand for Phone Chips
Qualcomm Inc. (NASDAQ:QCOM), the biggest maker of mobile-phone chips, reported a 5.5 percent rise in second-quarter profit and increased its annual forecast as demand grew for devices that use its technology.
Liberty Mutual Agrees To Buy Safeco for $6.2 Billion
Liberty Mutual Group said Wednesday it has agreed to acquire Safeco Corp. (NYSE:SAF) at a sharp premium in a deal valued at $6.2 billion.
Delta’s Loss Worse Than Expected
Delta Air Lines (NYSE:DAL) reported a worse-than-expected adjusted $274 million first-quarter loss driven by high fuel costs, but was optimistic it would return to profitability in the current quarter.
Aflac First-Quarter Profit Rises 14% on Japan Sales
Aflac Inc. (NYSE:AFL), the world’s largest seller of supplemental health insurance, said profit rose 14 percent as sales advanced in Japan, and predicted full-year results will come in at the high end of its previous forecast.
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