Weak Market Cuts NVR's Profit by 52%
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NVR, the Washington area's largest home builder, yesterday reported that second-quarter earnings plummeted 52 percent, a result of continued weak demand and excess inventory.
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The DVR pioneer turns a profit for its latest quarter.
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Nonetheless, shares fell 65 cents, to $50.48, as the company said results in the current quarter would be pressured by calendar changes.
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In a Feb. 1 story about Electronic Arts Inc.'s earnings, The Associated Press reported erroneously that third-quarter sales had dropped 38 percent. It was profits that dropped by that margin.
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Stock prices are lower in some early-session profit-taking. The Dow Jones Industrial Average is down 13 points in today&#39;s early going.
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Automaker Volkswagen on Thursday reported a 65 percent drop in net profit from the same period a year ago amid fiercely competitive markets and difficult
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The chemical maker reported a quarterly profit that was lower than expected, in part due to weak demand from the housing and auto markets.
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The company's sales fall, pulling down its stock price.
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Dutch retailer Ahold NV, recovering from a major accounting scandal, reported a lower-than-expected second-quarter net profit of euro32 million (US$38.
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The contract electronics manufacturer posted a 90 percent drop in quarterly net profit, but earnings excluding special charges were higher than expected.
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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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NEW YORK -- The stock of Ivax Corp., a maker of generic drugs, fell to a 52-week low Monday after the company said competitive pricing hurt its third-quarter results, causing them to fall short of Wall Street&#39;s expectations.
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Business & money: Electrical goods retailer says annual profit will miss forecasts by as much as Â£50m after poor Christmas
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The company said its fourth-quarter profit tumbled 26.3 percent due to slumping U.S. motorcycle sales amid a weakening economy.
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The nationâs number 2 buyer and backer of home mortgages saw a 45 percent drop in second-quarter profits after setting aside $300 million to account for bad loans.
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Virgin Mobile Holdings PLC reported an 18 percent surge in revenue but lower net profits for the half year Thursday as the costs of its listing on the London Stock Exchange this summer hurt the bottom line.
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Swiss drugmaker Novartis AG   missed forecasts with a 42 percent drop in  fourth-quarter net profit, hit by generic competition and a  one-off restructuring charge, sending its shares lower.