Profit Down 20%, Marriott Lowers Annual Forecast
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WASHINGTON  â The hotel operator Marriott International said Thursday that its fourth-quarter earnings fell 20 percent, hurt by the closing of its synthetic fuel business.
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Starwood Hotels & Resorts Worldwide Inc  on Thursday posted lower quarterly profit and forecast future earnings below Wall Street expectations amid pressures on its timeshare business.
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Brokerage Bear Stearns Companies  on Wednesday said quarterly profit fell 10 percent hurt by lower investment banking revenue and higher expenses.
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JPMorgan Chase & Co  said on  Wednesday quarterly profit fell a worse-than-expected 24  percent as the No. 3 U.S. bank lost $1.3 billion on risky  mortgages and set aside more money for rising losses on  home-equity loans.
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A continuing decline in advertising revenue pushed second quarter profits lower at two major publishers.
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Bear Stearns Cos., the fifth-biggest U.S. investment bank, said Thursday fiscal second-quarter profit sank as a downturn in the U.S. mortgage market slammed the company's business of issuing and dealing bonds backed by pools of home loans.
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Marriott International Inc.  on Thursday said its third-quarter net income fell 5 percent on flat sales that were hurt by a loss in its synthetic fuel business.
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The warehouse club operator warned of lower quarterly profit as customers cut back on large purchases like furniture.
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The home goods retailer Bed Bath & Beyond posted a lower fiscal third-quarter profit and warned that this quarterâs results would be lower than expected.
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U.S. investment bank Morgan Stanley  MWD.N on Wednesday said quarterly profit dropped 34 percent  amid reduced trading revenue, falling well short of Wall  Street's already-lowered expectations and pushing the company's  shares down more than 8 percent.
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US investment bank Morgan Stanley (MWD.N: Quote, Profile, Research) on Wednesday said quarterly profit dropped by a third on sharply lower bond trading revenue
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Marriott International's fourth-quarter profit fell 7 percent because of a steep drop in revenue from its synthetic-fuel operation, but the company still beat Wall Street's expectations because of strong performance in its core lodging business.
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U.S. investment bank Morgan Stanley  MWD.N on Wednesday said quarterly profit dropped by a third  on lower bond trading revenue, weak equities results and higher  expenses, falling short of Wall Street's low expectations and  pushing its shares down as much as 8 percent.
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US investment bank Morgan Stanley on Wednesday said quarterly profit dropped by a third on lower bond trading revenue, weak equities results and higher expenses, falling
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Anheuser-Busch Cos. Inc.  said on Tuesday it expects its international beer operations to post lower profit this year, hurt by a U.K. shift in sales from bars and restaurants to less profitable sales through retailers.
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Marriott International Inc.  said on Thursday its third-quarter net income fell 5 percent, hurt by its synthetic fuel business, but the top U.S. hotel operator's profit still beat Wall Street expectations.
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Capital One Financial Corp , the largest independent U.S. credit card issuer, lowered its full-year profit forecast by 21 percent on Thursday, citing mounting consumer loan losses in a weakening economy and higher legal reserves.