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Nov 6, 2015

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 […]

Aug 6, 2015

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 […]

Feb 27, 2014

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 […]

Oct 3, 2013

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 […]

Apr 29, 2013

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 […]

Apr 10, 2013

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 […]

Apr 5, 2012

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 […]

Jan 5, 2012

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 […]

Oct 26, 2011

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.

Oct 20, 2011

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 ...

Oct 11, 2011

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.

Oct 6, 2011

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.

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