Gap&#39;s profit drops, outlook steady
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Clothing retailer Gap Inc.   reported on Thursday a 26 percent drop in quarterly profit due  to increased markdowns at Gap stores and losses at its failed  Forth & Towne business.
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Clothing retailer Gap Inc. GPS.N  said on Thursday its third-quarter earnings ticked up 1  percent, hemmed in by lackluster sales at its Old Navy and   international Gap stores open at least a year.
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Clothing retailer Gap Inc.  reported on Thursday a 26 percent drop in quarterly profit due to increased markdowns at Gap stores and losses at its failed Forth & Towne business.
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Nissan Motor Co. , Japan's third-largest automaker, posted a 3.2 percent drop in quarterly operating profit as a worsening product mix favoring smaller, cheaper cars hit margins, and kept its full-year forecasts unchanged despite the weaker yen.
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European stock markets drifted lower in early trading as profit-taking set in after recent gains, despite a modest rise on Wall Street and well-received results from cellphone giant Vodafone.
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Gap Inc. (GPS.N), the largest U.S. specialty apparel retailer, on Thursday reported a 7 percent decline in quarterly profit, meeting lowered forecasts, after summer clearance sales drew surprisingly small crowds.
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Clothing retailer Gap  reported on Thursday a 26 percent drop in quarterly profit as it cut prices at its struggling Gap stores and began closing its Forth & Towne business.
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General Motors Corp.  swung to a profit in the fourth quarter but fell short of Wall Street expectations on mounting mortgage losses from its former finance unit.
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Kicking off the new earnings season, aluminum company Alcoa Inc  reported on Monday that second-quarter profit slipped, but still matched Wall Street expectations, even though revenue fell short of forecasts.
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Struggling apparel retailer Gap Inc.   said on Thursday that for the first time in a year its  monthly sales did not decline, and nudged up its outlook,  sparking the stock to jump as much as 4.4 percent.
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Shares of Gap Inc.  fell 2 percent on Friday morning as analysts questioned what's next for the casual clothing retailer after a two-year turnaround.
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Tiffany &amp; Co. on Thursday said second-quarter profit declined 19 percent from a year-ago quarter that was boosted by a hefty tax gain. The jewelry retailer also forecast third-quarter earnings flat with year-ago results.
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Russian gas monopoly Gazprom reports a slight fall in profits because of a dip in prices and demand.
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Morgan Stanley and Bear Stearns posted drops in quarterly profit yesterday, surprising some investors one day after two other big investment banks reported a rise in earnings.
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U.S. investment bank Morgan Stanley  MWD.N on Wednesday said quarterly profit dropped by a third  on sharply lower bond trading revenue and higher expenses,  falling well short of Wall Street's low expectations and  pushing the company's shares down as much as 8 percent.
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Google Inc  reported a lower-than-expected quarterly profit on Thursday and predicted further spending to shore up its operations, sending its shares down as much as 9.5 percent.
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Gap Inc.'s first-quarter profit dropped 26 percent as a new management team scrambled to regain the clothing retailer's fashion sense.