Reuters reports 2006 profit slump
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The news and financial information group Reuters said on Thursday that net profits sank by a third in 2006.
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Dow Jones & Co. Inc.  reported a 27 percent drop in quarterly profit on Thursday, hurt by lower ad sales at The Wall Street Journal and higher stock-based compensation expenses after its share price surged following News Corp.'s  bid for the company.
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The New York Times Co. NYT.N said on   Thursday it forecast lower third-quarter earnings than during   the same quarter last year because of a "challenging" print   advertising market, sending shares down nearly 5 percent in   after-hours trading.
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Merck & Co. MRK.N on Thursday  reported a 28 percent drop in quarterly profit and said 2004  earnings will fall as much as 11 percent due to last month's  recall of its Vioxx arthritis drug.
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Dow Chemical Co  on Tuesday reported a drop in quarterly profit that was not as steep as analysts had expected as growth overseas helped offset weak U.S. housing and auto markets and spiraling energy and raw material costs.
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The New York Times Co. NYT.N on  Wednesday reported lower quarterly net profit, weighed down by  an inconsistent ad sales environment.
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The New York Times Co. lost more than $600 million in the last quarter of 2006, largely because of the diminished value of the Boston Globe, which it owns.
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Media group Reuters blames the weak dollar for an 11% fall in revenues , but  it sees annual profits rise to Â£198m.
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Two large Wall Street firms - Morgan Stanley and Bear Stearns - reported a fall in quarterly profits yesterday in sharp contrast to rival players who presented an upbeat performance the day before.
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Volkswagen AG's profit fell 31 percent in 2004 as the German automaker fought headwinds from the weak dollar in the U.S. market and sluggish consumer spending at home.
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Stocks dropped for a sixth straight session on Wednesday, led by the Nasdaq's 3 percent slide as profit forecasts from Apple Inc and Motorola added to recession fears.
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Bear Stearns Cos Inc  said on Thursday quarterly profit plunged 61 percent to its lowest level in five years on bad bets on subprime mortgages and disrupted fixed-income trading.
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Diageo, the world&#39;s biggest maker of alcoholic drinks, said on Thursday that group net profit slid by 22 percent in 2006/07 from its previous financial year as the company was hit by higher taxes.
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Slashed earnings estimate pulls down shares.
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Shares at Nippon Steel, the world's second largest steel firm, slump after reporting falling quarterly profits.
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U.S. stocks sank on Thursday to fresh  closing lows for 2005 after earnings reports from eBay Inc.  EBAY.O and Qualcomm Inc. QCOM.O disappointed investors.
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Stocks slid for a sixth day on Wednesday as disappointing profit forecasts from Apple Inc and Motorola added to recession worries, pushing the Nasdaq across the threshold that signals a bear market.