Update 1: ConAgra Reports Drop in 1Q Earnings
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ConAgra Foods Inc. reported a 30 percent drop in first-quarter earnings on Wednesday, citing sales lost from discontinued operations and higher costs for materials.
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The company reported a sharp decline in its fourth-quarter profit compared with results a year ago that were fattened by a gain, but sales were up 1.7 percent.
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ConAgra Foods Inc., the third-largest US food company, said earnings fell to $242.3 million, or 47 cents a share, in the second quarter ended Nov. 28.
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The companyâs consumer segment, which accounts for more than half of the companyâs sales, posted a 16 percent drop in earnings as the cost of ingredients jumped.
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Costco Wholesale Corp.  on  Thursday said its quarterly profit fell, hurt by charges for  expensing stock options.
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Anglo-Dutch steelmaker Corus CS.L   CS.AS met forecasts with a 32 percent decline in first-half   core earnings but its shares fell after it warned there was no   sign of a let-up in cost pressures.
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The Dow was down more than 200 points at one point today as earnings reports from Wachovia and Caterpillar disappointed investors.
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Fashion retailer Limited Brands Inc.'s third-quarter earnings fell 40 percent because of fewer one-time gains, the company reported Thursday.
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The results fell widely short of Wall Street estimates and the company declined to provide earnings guidance for the next quarter.
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Anglo-Dutch steelmaker Corus    met forecasts with a 32 percent decline in first-half  core earnings but its shares fell after it warned there was no  sign of a let-up in cost pressures.
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Stocks fell on Monday as warnings of  lower earnings from consumer goods giants Colgate-Palmolive and  Unilever weighed on markets.
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Altria Group Inc.  posted lower quarterly profit on Wednesday, due in part to costs for closing a U.S. cigarette plant as it moves some production to Europe to cut costs and reduce excess capacity.
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Have weak first-quarter earnings pulled the plug on this party?
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Tokyo's Nikkei fell nearly 1 percent to a one-month low by Thursday afternoon as stocks like NEC Corp. dropped after disappointing earnings from U.S. companies fanned concern over profit trends and sent Wall Street lower.
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Altria Group Inc.  posted lower  quarterly profit on Wednesday, due in part to costs for closing  a U.S. cigarette plant as it moves some production to Europe in  a move to cut costs and reduce excess capacity.
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Stocks turned lower on Thursday, with the Nasdaq losing 1 percent, on a handful of disappointing earnings reports, including results from cable TV operator Comcast Corp .
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The Nikkei lost 1 percent on Thursday as  stocks such as Matsushita Electric Industrial Co. fell after  downbeat earnings at U.S. firms, while a profit warning from  Sony Corp. looked set to push the market lower.