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Web Directory Home / Business Wednesday, November 7, 2007
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   IndyMac mortgage loss dwarfs its own forecast
NEW YORK (Reuters) - IndyMac Bancorp Inc , one of the largest independent U.S. mortgage lenders, on Tuesday posted a quarterly loss more than five times larger than it had projected, hurt ...

Lear posts better-than-expected quarterly profit
CHICAGO (Reuters) - Auto parts maker Lear Corp posted a better-than-expected quarterly profit on Tuesday, boosted by new business outside North America, and raised its full-year earnings ...

Revlon shares up after quarterly loss narrower
NEW YORK (Reuters) - Cosmetics maker Revlon Inc on Tuesday posted a narrower quarterly loss that beat Wall Street expectations, and said it expects to surpass its adjusted earnings ...

Hovnanian says net contracts and deliveries fall
CHICAGO (Reuters) - Upscale home builder Hovnanian Enterprises Inc said on Tuesday fourth-quarter net contracts and home deliveries fell, while cancellations rose amid the housing market's ...

Nortel hits profit and stock rallies on outlook
TORONTO (Reuters) - Nortel Networks Corp swung to a third-quarter profit and predicted a "very solid" fourth quarter on Tuesday, sending its shares higher, but revenue fell ...

Mattel recalls 155,000 Mexican-made toys
BRUSSELS (Reuters) - Mattel Inc, the world's largest toymaker, has recalled 155,000 of its products made in Mexico over safety concerns, an official at the company told Reuters on Tuesday.

Market flat as Microsoft and oil drag
NEW YORK (Reuters) - Stocks erased gains and were little changed on Tuesday as a brokerage's dour view on Microsoft Corp weighed on technology shares, while investors worried that record ...

Citigroup names Stuckey to run subprime portfolio
LONDON/NEW YORK (Reuters) - Citigroup Inc has named veteran financial expert Richard Stuckey to head a new team that focuses on managing its subprime mortgage portfolio, according to an ...

Wall Street firms see recession nearing
NEW YORK (Reuters) - The economy might be edging toward a recession in the wake of mortgage-related credit woes plaguing the financial markets, bankers and analysts said on Monday.

JPMorgan net rises despite write-downs (Reuters)
Reuters - JPMorgan Chase & Co Inc reported slightly higher quarterly profit on Wednesday as gains from private-equity deals helped offset $1.64 billion in write-downs on leveraged ...

Sept CPI rise largest since May
WASHINGTON (Reuters) - A pickup in energy prices helped drive consumer prices ahead at the sharpest rate in four months during September, according to a government report on Wednesday that ...

Rise seen in consumer prices in September
NEW YORK (Reuters) - U.S. consumer prices probably rose in September as gasoline and food prices rebounded, while prices excluding food and energy are estimated to have climbed at the same ...

Air France, Delta target $8 billion revenues from new JV
PARIS (Reuters) - Air France-KLM expects annual revenues of $8 billion from a joint venture it announced with Delta Air Lines Inc on Wednesday in the biggest shake-up in the transatlantic ...

Coca-Cola Co. profit tops estimates
NEW YORK (Reuters) - Coca-Cola Co said on Wednesday that its quarterly net profit rose a better-than-expected 13 percent, helped by strong sales of noncarbonated drinks and the weak dollar.

United Tech profit up
BOSTON (Reuters) - Diversified manufacturer United Technologies Corp reported on Wednesday profit that narrowly beat Wall Street expectations but warned that it expects the U.S. economy to ...

Altria profit beats estimates
CHICAGO (Reuters) - Altria Group Inc , parent of the Philip Morris tobacco companies, posted quarterly profit that beat Wall Street estimates, helped by higher prices in the United States ...


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