Allstate Profit Drops 37% on Storm Losses
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CHICAGO  â The Allstate Corporation, the property and casualty insurer, reported a 37 percent decline in fourth-quarter profit Tuesday on higher catastrophe losses and increased costs.
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The company said profit from continuing operations fell to $614 million as weak demand for calculators outweighed improving sales of advanced phones that use its chips.
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The retailer posted a 36 percent fall in fourth-quarter profit, hurt by costs related to an inventory write-off, and said it would open only about half the number of stores it opened in 2007.
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The clothing retailer's profits take a hit on weather woes and bigger-than-expected markdowns
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Allstate Corp. , the largest publicly traded home insurer in the United States, said on Tuesday that fourth quarter earnings rose 16.5 percent, helped by low catastrophe losses, but missed analysts' estimates.
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State Street Corp., the world's biggest  institutional asset manager, on Tuesday said third-quarter  profit fell 12 percent amid lower revenue and higher expenses,  sending its shares tumbling.
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Berkshire Hathaway, the company run by billionaire investor Warren Buffett, reports a drop in quarterly profits after hurricanes cost it $816m (Â£439m).
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NEW YORK  - The world&#39;s leading alumium producer, Alcoa, said Thursday quarterly net profit slipped as operations took a double-hit from a labour strike and Hurricane Ivan.
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Altria Group Inc. MO.N on Wednesday  said quarterly profit fell 6.9 percent, weighed down by  one-time charges at its Kraft Foods business and increased  exposure to airline industry losses at its financial services  unit.
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JPMorgan Chase & Co  said on  Wednesday quarterly profit fell a worse-than-expected 24  percent as the No. 3 U.S. bank lost $1.3 billion on risky  mortgages and set aside more money for rising losses on  home-equity loans.
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Berkshire Hathaway Inc. BRKa.N, the  wide-ranging conglomerate run by billionaire investor Warren  Buffett, posted sharply lower quarterly profit on Friday as its  reinsurance operations paid out large claims from Florida's  hurricanes in August and September.
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Atlanta - The Coca-Cola Co. reported a 24 percent drop in third-quarter profit on flat revenue, but beat analysts reduced expectations that were tempered after the beverage giant&#39;s previous warnings.
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Fourth-quarter profit fell by 9 percent as energy prices declined, but the company still ended up with its third consecutive year of record earnings.
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In the first major insurance fallout from four hurricanes that inflicted billions of dollars of damage in Florida, Allstate Corp. said Wednesday that it would restrict sales of insurance policies in the state.
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Coca-Cola Bottling Co. Consolidated, the Coca-Cola Co.&#39;s major bottler and distributor in the Southeast, said Wednesday that third-quarter profit fell as bad weather, high fuel prices and fewer promotions led to lower volume.
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Allstate Corp. ALL.N, the No. 2 U.S.  home and auto insurer, warned on Wednesday its third-quarter  profits would fall well short of expectations due to more than  $1 billion in hurricane-related payouts.
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The newspaper publisher and television station operator said fourth-quarter profit dropped 70 percent, hurt by a write-down and less political advertising revenue.