SunTrust to restate its 2004 earnings
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The bank cites errors, puts two top executives on leave and delays its third-quarter report. By JOHN HIELSCHER. SunTrust Banks Inc.
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NEW YORK SunTrust Banks said Monday that it expected to restate its profit upward for the first half to fix how it accounted for loan losses, and the large US bank put two senior finance executives on paid leave.
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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.
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SunTrust Banks Inc. , the No. 7 U.S. bank, on Monday said it put two senior finance executives on paid leave, and expects to restate first- and second-quarter profit higher as it fixes errors in how it accounts for loan losses.
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BlackBerry maker Research In Motion Ltd. said Monday it will restate its financial statements as far back as fiscal 2004 because of past stock option reporting errors and it anticipates a $250 million reduction in previous earnings. Chairman and co-CEO Jim Balsillie is stepping aside as chairman.
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Krispy Kreme Doughnuts Inc. on Tuesday  said it would restate financial statements for its 2004 fiscal  year due to errors in how it accounted for the repurchase of  franchises, which could reduce earnings more than the company  had previously forecast.
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WASHINGTON Sept. 30, 2004 - Mortgage giant Fannie Mae, under investigation by regulators and ordered to revamp its accounting, may have to restate its past earnings, a federal agency said Thursday.
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SunTrust Banks Inc. STI.N on Monday  said it put two senior finance executives on paid leave, and  expects to restate first- and second-quarter profit higher as  it fixes errors in how it accounts for loan losses.
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TORONTO - Kinross Gold Corp. said Monday that a change in the way it accounts for goodwill has forced it to restate its third-quarter results, resulting in a $133.
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Chairman dethroned Research in Motion will restate three years of earnings following an internal stock options probe, the company said today. The aggregate effect of the revisions will lop $250m off RIM's historic earnings.â¦
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Computer maker Sun Microsystems Inc. reduced its net income by &#36;12 million for its fiscal fourth quarter, citing new information related to property leases and the finalization of the accounting for its settlement with Microsoft Corp.
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Mortgage giant Fannie Mae, under investigation by regulators and ordered to revamp its accounting, may have to restate its past earnings, a federal agency said Thursday.
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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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Dynegy Inc. will restate earnings for 2003 and the first half of this year to take a larger write-down connected to the pending sale of Illinois Power Co. and deferred income tax accounts, the company said Wednesday.
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Research in Motion Ltd., , maker of the Blackberry email device, said on Monday it would restate its financial statements for fiscal 2004, 2005 and 2006 and the first quarter of 2007, following a review of stock options grants.
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BEA Systems said Monday that it would restate results to reflect expenses associated with misdated stock option grants.
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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.