Belo Swings to a Loss on Write-Downs
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The broadcast companyâs loss stemmed from write-downs, breakup costs and weak advertising sales.
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The food and household products maker said it lost $62 million in its most recent quarter, largely because of one-time charges.
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The company said its quarterly loss ballooned to $302.6 million as it struggled with its mortgage lending arm and said it is trying to renegotiate the sale of the unit.
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Belo Corp. said on Wednesday it would cut more than 3 percent of its work force, mostly at its Dallas Morning News, which is grappling with a recent scandal into inflated circulation data provided to advertisers.
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Heavy losses hit exchanges from China to Brazil
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TechWeb - Last week, SCO reported a second-quarter loss of $1.1 million on revenue of $6 million.
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After it reports a loss, the shares fall faster than a 500-pound weight.
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The company scrapped its dividend after posting a net loss of 3.5 billion euros ($5.12 billion) for the year, including a huge charge in the 4th quarter to reflect a drop in value of Lucentâs mobile assets.
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MBIA Inc,  a bond insurer  struggling to maintain the top credit ratings necessary for its  business, posted a quarterly loss on Thursday after a $3.5  billion writedown.
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The bigger-than-expected write-down of its mortgage portfolio led to a quarterly loss of $859 million, the bank said.
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British bank Alliance & Leicester   warned that higher funding costs will significantly  hurt its margins next year as it reported a 30 percent drop in  annual profits after a big writedown, hitting its shares.
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DALLAS -- Belo Corp. said yesterday that it would cut 250 jobs, more than half of them at its flagship newspaper, The Dallas Morning News, and that an internal investigation into circulation overstatements
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Stocks were set to open with heavy losses Thursday as investors fretted over a heavy loss by bond insurer MBIA Inc. and the prospect of new downgrades in the bond insurance industry.
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With its cash reserves dwindling and losses continuing to mount, The SCO Group Inc. is taking measures to cut its expenses and ensure it will have enough cash to process its lawsuit with IBM Corp, the company announced during its quarterly earnings conference call Tuesday. SCO reported a loss of $7.4 million on revenue of $11.2 million for the third quarter - a loss that was affected by the $7.2 million in legal expenses the company incurred during the quarter, which ended July 31.
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Shares of subprime lender tumble after margin calls.
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Seeking to restore the confidence of investors and advertisers after discovering exaggerated circulation figures at The Dallas Morning News, Belo Corp.
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The discount broker posts a loss as mortgage-related losses mount.