Clear Channel 4Q Profit Slumps
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SAN ANTONIO -- Clear Channel Communications Inc., the nation's largest operator of radio stations, said Friday its fourth-quarter earnings tumbled 54 percent ahead of an $18.7 billion planned buyout by a group of private equity firms.
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The Campbell Soup Company said yesterday that fourth-quarter profit declined 20 percent, the biggest drop in more than two years, as costs for marketing and job cuts rose.
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The cellphone-network equipment maker said that it would cut up to 4,000 jobs, about 5.4 percent of its work force, after profit plunged 42 percent in the fourth quarter.
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Mobile phone maker Sony Ericsson is  set to report a drop in fourth-quarter earnings on Wednesday as  its focus on lower-priced phones puts pressure on margins,  analysts say.
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The companyâs shares plunged 15.9 percent to a nearly four-year low of $10.36 in morning trading after its net profit fell 84 percent in the fourth quarter.
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The aluminum maker said second-quarter profit slipped nearly 4 percent as outage costs at two smelters weighed down results.
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3M Co  said on Tuesday  fourth-quarter earnings fell as last year's results included a  gain for selling a business.
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Fourth-quarter earnings dropped 30 percent to $128.9 million on restructuring and other charges, but the results still beat analystsâ estimates.
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A slump in value of its stake in ITV causes a loss for broadcaster BSkyB in the final half of 2007.
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The company said fourth-quarter earnings fell from year-ago results that included a one-time gain. But adjusted profit exceeded expectations on Wall Street, driven by higher sales.
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Clear Channel Communications Inc.  , which has agreed to be acquired by two private equity  firms and the company's founding Mays family, on Friday posted  a lower profit from a year ago, before it spun off its  entertainment unit.
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Cell phone maker Motorola Inc. on Wednesday said net profits fell sharply in the fourth quarter, and it warned that the recovery in its struggling handset unit will take longer than expected.
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BEIJING, Dec. 28 -- Sichuan Changhong Electric Co. Ltd. (600839.SH), one of ChinaÂ¡Â¯s leading television set makers, was likely to post a profit slump this year, the countryÂ¡Â¯s leading financial newspapers reported Monday.
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Clear Channel Communications Inc. , which has agreed to be bought by two private equity firms and the company's founding Mays family, posted better-than-expected quarterly earnings on Friday as radio broadcasting revenue and outdoor advertising sales rose.
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The company lowers its fourth-quarter and full-year earnings guidance.
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Mobile phone maker Sony Ericsson said fourth-quarter profit fell almost 17 percent as higher costs more than offset the effect of a rise in shipments.
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The newspaper publisher reported a fourth-quarter profit after a loss a year ago, but it continued to be hurt by the housing slump in California and Florida.