Wachovia profit falls on write-downs
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Wachovia Corp  on Friday posted  a 10 percent decline in quarterly profit, missing forecasts, as  the fourth-largest U.S. bank suffered $1.3 billion of  write-downs at its investment banking unit.
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U.S. investment bank Morgan Stanley on  Wednesday said quarterly profit fell amid reduced trading  revenue, reflecting the impact of sluggish markets this summer.
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The company has signalled profits of between Â£285 million and Â£295 million, down on Â£311 million a year ago, following a poor run of sales.
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US oil giant ConocoPhillips says the cost of quitting operations in Venezuela led to a 95% drop in quarterly profits.
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Station Casinos Inc. , which is in the process of a management-led buyout, on Wednesday said fourth-quarter profit fell as it took charges for a canceled residential project and some pre-opening costs for some planned expansions.
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The Loews Corporation said yesterday that its third-quarter profit fell 12.5 percent as investment losses and a legal settlement at its commercial insurance unit offset better results in tobacco, drilling and oil pipelines.
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Merrill Lynch & Co.  on Tuesday said third-quarter profit fell 8 percent, hurt by reduced investment banking and trading.
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Washington Post Co.  said on Wednesday its fourth-quarter profit fell 7 percent, dragged down by charges and a profit decline at its newspaper division.
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BERLIN Infineon Technologies said on Tuesday that its fourth-quarter profit unexpectedly fell on a charge to write down the value of its investment in a venture in the United States.
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Building and plumbing firm Wolseley sees profits fall after it is hit by the downturn in the US housing market.
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Altria Group Inc., owner of the Philip Morris cigarette companies, said Wednesday that second-quarter income fell more than 18 percent but also reported a rise in profit from continuing operations and revenue.
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Bank of America Corp  and Wachovia Corp , the second- and fourth-largest U.S. banks, on Tuesday said quarterly profits were nearly wiped out by more than $10 billion of credit losses and write-downs.
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Bank of America Corp  and  Wachovia Corp , the second- and fourth-largest U.S.  banks, on Tuesday said quarterly profits were nearly wiped out  by more than $10 billion of credit losses and write-downs.
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VANCOUVER - Resort operator Intrawest saw its first-quarter profit disappear as it reported a $6.7 million US loss (14 cents a share), the company said Monday.
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Coca-Cola Co.  reported lower fourth-quarter earnings on Wednesday, hurt by an asset write-down at its largest bottler, but operating profit exceeded Wall Street expectations.
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Merrill Lynch & Company said today third-quarter profit fell 8 percent, hurt by reduced investment banking and trading.
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CHARLOTTE, NC - Financial services firm Wachovia Corp. said Friday that third-quarter earnings increased as declining retail brokerage activity was offset by higher revenue in wealth management and investment banking segments.