Earnings & Sales Reports | featured news

Rupert Murdoch's News Corp makes a $6.4bn loss as falling advertising revenues forces it to write-down assets.

US department store chain Macy's is cutting 7,000 jobs as it reduces costs against a backdrop of falling sales.

NEW YORK (Reuters) - Americans slowed their consumption of hard liquor last year, a trade group said on Friday, proving that spirits are not immune to a recession.

Gannett Co., the largest US newspaper publisher, said fourth-quarter profit fell 36 percent on faltering advertising sales and expenses to cut jobs.

Hit by falling oil prices, Exxon Mobil reported a 33% drop in quarterly profit Friday, but its annual profit of $45.22 billion set a record for any U.S. company.

DETROIT (Reuters) - Ford Motor Co posted a deeper than expected quarterly net loss on Thursday, but said it would have sufficient cash to fund its turnaround without seeking government loans, and shares rose in premarket trade.

3M profit fell 37% in the fourth quarter as global sales declined and margins narrowed. The diversified manufacturer cut its outlook for 2009.

But new investment and declining costs mean the company could hold up well in the coming year.

Kodak announced plans to cut between 3,500 and 4,500 jobs, or 14% to 18% of its work force, amid weak sales.

Wells Fargo & Co. on Wednesday reported a fourth-quarter loss of about $2.6 billion as the banking giant was hit by credit write-downs while losses at Wachovia, which it recently acquired ...