Earnings at E.D.S. Slip 13% After Verizon Ends Contract
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E.D.S. reported net income of $189 million, or 36 cents a share, in the quarter that ended Dec. 31. That was down from $217 million, or 40 cents a share, a year earlier.
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YESTERDAY Close $52.56 Change +$0.66 52-WEEK High $54.17 Low $40.57 Raytheon Co. said fourth-quarter earnings rose 32 percent, driven by growing defense contract bookings and strong sales of missiles and battle operations communications systems.
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The companyâs consumer segment, which accounts for more than half of the companyâs sales, posted a 16 percent drop in earnings as the cost of ingredients jumped.
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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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Wireless carriers planning to offer next-generation wireless services have bid $13.9 billion in a spectrum license auction that ended Monday, the U.S. Federal Communications Commission (FCC) said.
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Verizon Communications Inc  said on Monday its third quarter profit fell but revenue rose on growth in its wireless venture and higher high-speed Internet subscriptions.
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Electronic Data Systems Corp. EDS.N,  the world's second-largest technology services provider, on  Monday posted a higher-than-expected quarterly profit thanks to  cost cutting, but revenue fell and it forecast 2005 earnings  would fall short of Wall Street estimates.
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DENVER -- Qwest Communications International Inc. on Tuesday reported a jump in third-quarter net income due to a $2.15 billion tax benefit and said overall revenue dipped because of a 19 percent drop in traditional wholesale services.
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Profit margins from Vodafone continuing businesses fell from 39.6 per cent to 38.7 per cent, the mobile phone operator said on Tuesday as revenue growth outpaced the rise in earnings before interest, tax, depreciation and amortisation.
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- Verizon Communications Inc. VZ.N on Wednesday   said it dropped its plans to impose a supplier surcharge for   DSL-based Internet access service on its retail customers.
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The company, whose shares fell more than 13 percent, said it was analyzing sales expectations for the next fiscal year, given uncertain consumer spending.
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The telecommunications giant finished its first full year as a merged company with a net loss of 3.52 billion euros, or $5.1 billion, mostly on charges, and it predicted a loss for the current quarter.
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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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The U.S. sale of airwaves for   advanced wireless services grossed a record $13.9 billion when   it ended on Monday, and spectrum-hungry wireless carrier   T-Mobile USA, Verizon Wireless and a group of cable companies   were the highest bidders.
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Verizon Communications  has  decided to pocket most of the savings from the cancellation of  a government surcharge on digital subscriber lines, despite  calls from consumer groups to pass on the savings on to users.
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Verizon Communications Inc  said  on Monday its third quarter profit fell but revenue rose on  growth in its wireless venture and higher high-speed Internet  subscriptions.
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NEW YORK, July 16 -- The Dow Jones industrial average hit a new record close Monday as news of a potential telecom deal involving Verizon nudged the average closer to 14,000. Overall, stocks were mixed as investors contemplated the market's huge gains last week.