Sunrise to Cut Profits by About $100 Million
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Sunrise Senior Living yesterday reported that it plans to reduce recorded profits by $98 million to $107 million for 1999 through 2005 as it corrects the way it accounted for certain joint ventures.
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Aug. 18 (Bloomberg) -- BellSouth Corp., the third-largest US local-telephone company, said a deal with union members will cut fourth-quarter profit by 3 cents or 4 cents a share.
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Sun Microsystems (nasdaq: SUNW - news - people ) saw its first-quarter loss reduced on Friday, as it cemented the accounting for its $92 million patent settlement with Eastman Kodak (nyse: EK - news - people ).
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Alcatel-Lucent SA fell nearly 9 percent Thursday after the telecommunications equipment maker slashed its full-year revenue growth forecast and said it expects third-quarter operating profit to be "around break-even."
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Satellite television provider EchoStar  Communications Corp. on Monday said it will pay $100 million to  settle a nine-year long legal battle over the retransmission of  distant TV stations to subscribers.
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Alcatel-Lucent  on Friday said it would cut some 12,500 jobs over three years as it reported a dip into net loss for the fourth quarter and forecast a drop in first-quarter revenues.
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Blog: Along with preliminary earnings release, the company announces it will lay off 10 percent of workers to trim costs.
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The Scottish Media Group will sell of two of its advertising businesses following a 100-day business review.
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The real estate arm of Sun Health has sold off 10 medical office buildings totaling more than $46 million. This move follows a national trend for hospital systems to divest themselves of
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Federal Reserve Chairman Ben  Bernanke on Thursday said losses associated with subprime  mortgages could reach $100 billion.
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Sandy Spring Bancorp Inc., the parent company of Sandy Spring Bank, reported Wednesday that it cut its outlook for the year because the company to adjust its balance sheet to exit a leveraged position.
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Station Casinos Inc. , which is in the process of a management-led buyout, on Wednesday said fourth-quarter profit fell as it took charges for a canceled residential project and some pre-opening costs for some planned expansions.
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Sovereign Bancorp. said yesterday it will cut 800 jobs, 77 of them locally, from its workforce of almost 9,000 and close most of its wholesale mortgage operation in an effort to slash costs by $100 million annually.
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Closeout retailer Tuesday Morning Corp. (Nasdaq:TUES) on Monday cuts its fourth-quarter earnings per share to 83 cents, well below the $1.05 a share estimate of analysts polled by Thomson First Call.
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KB Home KBH.N, one of the largest   U.S. homebuilders, on Wednesday cut its full-year profit   forecast for the second time in three months, saying a more   difficult housing market is causing orders to decline.
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Sun Microsystems Inc. trimmed its fourth quarter and full-year 2004 results this week, to account for final accounting of asset retirement obligations and its settlement with Microsoft Corp.
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Oil futures retreated from record levels Wednesday as investors, rethinking crude's ability to keep climbing past $100, decided to cash in some of their profits from the market's huge advance.