SunTrust Expects to Restate Profit Higher
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SunTrust Banks Inc. (STI.N: Quote, Profile, Research) , the No. 7 US bank, on Monday said it expects to restate first- and second-quarter profit higher, changing how it accounts for loan losses.
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SunTrust Banks Inc., the seventh- largest US bank, said it will restate results for the first and second quarters of this year, increasing profit, because the company incorrectly calculated loan losses.
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SunTrust Banks restated its first- and second-quarter earnings on Monday because of an error in how the bank accounted for loss reserves.
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Federated Department Stores Inc.  , parent of Macy's and Bloomingdale's, on Wednesday said  quarterly profit rose, helped by a cash refund, and it raised  its earnings forecast for the second half of the year.
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NEW YORK (CBS.MW) - SunTrust Banks said Monday it expects to restate its first and second quarter 2004 earnings after finding accounting irregularities in the way it recorded loan loss allowances for some auto loans.
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ATLANTA - SunTrust Banks Inc. said Monday that it expects to restate earnings higher for the first and second quarters of 2004 due to changes in loan loss allowances, and plans to delay its third-quarter earnings
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Hormel Foods Corp.  on Wednesday posted higher quarterly profit, in line with raised expectations it announced earlier this month, and gave a forecast for current quarter earnings that was higher than analysts estimates.
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State Street Corp  said on Thursday that it expected to report strong quarterly operating earnings, which overshadowed news of a $279 million charge for subprime mortgage-related bets and sent the company's shares up more than 7 percent.
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Supervalu Inc  posted higher quarterly profit on Tuesday, helped by lower employee-related costs and other expenses, but said consumer spending would continue to be pressured by inflation.
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Network computer maker Sun Microsystems Inc. (SUNW.O: Quote, Profile, Research) on Thursday posted a narrower quarterly loss as revenue rose year over year for the
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SunTrust Banks Inc. (STI.N: Quote, Profile, Research) , which fired three executives over its accounting for bad loans, on Friday restated first-half profit higher
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Northeastern U.S. oil refiner Sunoco  Inc. SUN.N said on Thursday net income jumped in the fourth  quarter of 2004 on continuing strong refining margins.
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SunTrust Banks Inc., the No. 7 US bank, said the Securities and Exchange Commission started an informal inquiry into its announcement four days ago that the bank would restate profit for this year&#39;s first two quarters.
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US mortgage company Fannie Mae should restate its earnings, a move that is likely to put a billion-dollar dent in its accounts, watchdogs have said.
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Goldman Sachs sees fourth quarter profits rise, after it correctly predicts mortgage bond values would fall.
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Sun Microsystems Inc. SUNW.O on  Thursday reported a small quarterly net profit, reversing a  year-earlier loss, as narrower costs offset a slight revenue  decline.
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SunTrust Banks Inc. STI.N on Monday  put two senior finance executives on leave after uncovering  accounting problems that will result in the No. 7 U.S. bank  restating first-half profit higher.