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Fannie Mae posts $2B profit for 3Q
WASHINGTON — Mortgage giant Fannie Mae reported net income of $2 billion for the July-September period, down from $3.9 billion a year earlier. The government-controlled company attributed the third-quarter decline in profit mainly to losses on the investments it uses to hedge against swings in interest rates. Nonetheless, the results posted Thursday marked the 15th […]
Fannie Mae posts $4.6B profit in 2Q
WASHINGTON — Mortgage giant Fannie Mae reported net income of $4.6 billion from April through June, up from $3.7 billion a year earlier. Rising interest rates enabled Fannie to post gains on the investments it uses to hedge against swings in rates. The second-quarter results released Thursday marked the 14th straight profitable quarter for the […]
Data-breach costs take toll on Target profit
NEW YORK — Target Corp. will be feeling the financial pain for a while from the theft of credit card numbers and other information from millions of its customers. The retailer said Wednesday that its fourth-quarter profit slumped 46 percent. It also reported that revenue slipped 5.3 percent as the breach scared off customers. During […]
Constellation Brands’ 2Q profit beats Street
VICTOR — Constellation Brands’ second-quarter net income surged, bolstered by a large gain related to Crown Imports and a lower-than-expected tax rate. The wine, beer and liquor company’s adjusted earnings topped Wall Street’s view, and it lifted its full-year adjusted earnings outlook again. The stock rose almost 3 percent in morning trading, briefly hitting an […]
Eastman Kodak posts profit for its first quarter
Eastman Kodak Co. posted a profit for its fiscal first quarter thanks to the sale of its digital imaging patent portfolio. The company also said Monday that it plans to file its reorganization plan with a bankruptcy court Tuesday that will outline its roadmap for recovery. Founded in 1880, Kodak filed for bankruptcy protection at […]
Constellation Brands 4Q profit falls
VICTOR — Wine, beer and liquor company Constellation Brands Inc. said Wednesday that its net income fell 21 percent in its fiscal fourth quarter as it dealt with a write-off and an income tax provision. But its adjusted profit and its revenue beat Wall Street’s expectations. The company, whose brands include Robert Mondavi, Clos du […]
Constellation’s profit falls 63 percent on units sale
NEW YORK — Constellation Brands said Thursday that its fiscal fourth-quarter net income fell 63 percent as a result of the divesture of its Australian and U.K. wine business. But the company said a new product mix helped boost its North America sales. A weak outlook for 2013 sent Constellation’s stock down sharply. Shares of […]
Constellation Brands’ profit slumps in 3Q
Constellation Brands Inc. said Thursday its third-quarter profit slumped 25 percent on weaker wine and beer sales in North America, price hikes that hurt sales of two popular wine brands and stepped-up promotional costs. The results narrowly missed Wall Street estimates. Its shares fell 69 cents, or 3.4 percent, to $19.75 in afternoon trading. The […]
Corning’s 3Q profit rises 3 percent
Specialty glass maker Corning Inc. said Wednesday its profit rose 3 percent in the third quarter, lifted by surging sales of glass for flat-panel televisions and optical fiber. The results handily beat Wall Street expectations. Its shares rose almost 5 percent in premarket trading.
First Niagara 3Q net income up 25 pct
BUFFALO — First Niagara Financial Group Inc. said Thursday that its profit rose 25 percent in the third quarter as loan quality continued to improve, its commercial lending business picked up and deposits grew. The Buffalo-based bank posted net income ...
FDIC backs ban on banks trading for own profit
WASHINGTON — Banks would be barred from trading for their own profit instead of their clients under a rule being proposed by federal regulators. The Federal Deposit Insurance Corp. backed the rule on a 3-0 vote. The ban on so-called proprietary trading was required under last year’s financial overhaul law.
Constellation Brands’ 2Q profit climbs
Wine and spirits maker Constellation Brands Inc. said Thursday its fiscal second-quarter profit jumped 78 percent on price hikes, improved wine and spirits sales in North America, and a drop-off in charges after four years of cost-cutting.
Case Digests
- Fourth Department – Bill of particulars: Harris v. Rome Memorial Hospital, et al.
- NYS Advisory Committee on Judicial Ethics – Accusations against co-judge: Opinion 22-148
- Fourth Department – Medicaid: Washington Center for Rehabilitation and Nursing Home v. NYS Dept. of Health
- Fourth Department – Criminal possession of a firearm: People v. Wilson
- Fourth Department – Promoting prostitution: People v. Watts
- Second Circuit – Class certification: Arkansas Teachers Retirement System V. Goldman Sachs Group Inc.
- Fourth Department – Show-up identification: People v. Waggoner
- Fourth Department – Association: Victory Village Tenants Assoc. v. Evergreen Communities, et al.
- Second Circuit – In personam jurisdiction: Kaplan v. Bank Saderat PLC
- Fourth Department – Labor Law: Verdugo v. Fox Building Group
- Fourth Department – Out-of-possession landlord: Truax v. M.D. Meyer’s Properties
- Fourth Department – Discovery: Sylvester v. Sanders
Law News
- Espinosa named general counsel at Greenlight Networks
- Barclay Damon hires attorney Matt Smith
- Rochester man sues Geneseo police, alleging false arrest, assault
- The Daily Record’s Power List for Intellectual Property 2023
- NY ethics panel says judges can join NRA
- Harter Secrest & Emery LLP names partner-in-charge of Buffalo office
- Banned professor sues SUNY Fredonia leaders
- Hochul signs law requiring unemployment insurance information from employers
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