Dollar General's 3Q Profit Drops 9 Percent
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Dollar General Corp. said Wednesday that its third-quarter profits dropped nearly 9 percent amid high gas prices and reduced spending by its core, low-income customers. The discount retailer also lowered its forecast for the rest of the year.
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British drugmaker GlaxoSmithKline PLC reported a 9 percent drop in third-quarter earnings Thursday, citing stiff competition from generic drug makers.
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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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The dollar fell on Monday,  paring  some of last week's meteoric gains, as traders took profits in  the wait for a U.S. trade report due on Wednesday.
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U.S. Treasury prices fell on Tuesday in  profit-taking after a weaker-than-expected consumer confidence  index failed to punch key yields below recent lows.
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Wal-Mart Stores Inc.  on Tuesday  reported a 26 percent drop in quarterly profit -- its first  earnings decline in more than 10 years -- because of a charge  for selling its German stores to a rival, but it maintained its  full-year profit forecast.
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3M Co.  on Monday said third-quarter earnings rose 17 percent due in part to the weak dollar, but the diversified manufacturer's results came in below Wall Street's estimates for the first time in at least seven quarters.
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3M Co. MMM.N on Monday said  third-quarter earnings rose 17 percent due in part to the weak  dollar, but the diversified manufacturer's results came in  below Wall Street's estimates for the first time in at least  seven quarters.
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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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The dollar traded mostly lower Tuesday after disappointing US retail sales data sparked worries about a slowdown in consumer spending, which could hurt the overall economy.
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Goldman Sachs Group Inc. , the  No. 3 U.S. investment bank, on Tuesday said its third-quarter  earnings fell as trading revenues dropped.
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Colgate-Palmolive Co. CL.N on  Wednesday said profit fell in the third quarter because of  increased marketing spending and higher costs for raw  materials.
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The investment bank said third-quarter profit fell less than expected, as strength in stock trading and investment banking offset losses from the mortgage market.
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Morgan Stanley, the second-biggest US securities firm, on Wednesday reported lower-than-expected third-quarter profit on lower fees from trading stocks and bonds.
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Dollar General Corp., the largest US retailer by number of stores, plans to close more than 400 locations next year and record expenses of about $138 million following two straight quarters of falling profit.
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The dollar weakened across the board  on Friday, weighed down by profit-taking after a week of gains  and a softer-than-expected U.S. consumer confidence report.
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The dollar weakened against major  currencies on Friday in thin holiday-season volume, as traders  took profits after early-session gains.