Stock News February-09 2009

McDonald's January same-store sales up 7.1 percent on same-store sales rise on strong demand for fast-food items.
GE Shares Shine Ahead of Bailout Plan

APShares of conglomerate General Electric soar as much as 15 percent as investors look ahead to a new U.S. financial rescue plan. GE's many businesses include a big finance arm which has been a drag on the company's earnings during the financial crisis. Quote: GE

Home appliance maker Whirlpool says fourth-quarter profit tumbled 77 percent, partly hurt by a higher restructuring charge, a recall expense and the stronger dollar

Feb. 6: For the fiscal third quarter, Toyota racked up a loss of $1.81 billion, down sharply from the previous year as the global slump squelched sales.

Feb. 5: Rupert Murdoch's media conglomerate News Corp. lost $6.4 billion in its most recent quarter, badly missing estimates.

Feb. 5: Cosmetics maker Estee Lauder announced that it will cut 2,000 jobs, freeze merit raises and continue its hiring freeze. The news came as the company reported a 30 percent second quarter profit drop.

Feb. 5: Purchase, N.Y.-based MasterCard reported better than expected results, saying it earned $239.4 million, or $1.84 per share, during the quarter ended Dec. 31, compared with earnings of $304.2 million, or $2.26 per share, during the same quarter a year earlier.

Feb. 4: Cisco Systems said its net income during the fiscal second quarter was $1.5 billion, or 26 cents per share. That was down from $2.1 billion, or 33 cents per share, a year ago. Excluding items, earnings were 32 cents per share. Despite the nearly 30 percent profit drop, the results beat Wall Street estimates.

Feb. 4: Credit card processor Visa said its fiscal first-quarter profit rose by 35 percent as payment volume rose despite the recession. The results beat Wall Street expectations.

Feb. 4: Kraft Foods says fourth-quarter profit fell 72 percent due to costs related to a restructuring program. The maker of Velveeta, Oreo cookies and Maxwell House coffee said profit fell to $163 million, or 11 cents per share, from $585 million, or 38 cents per share, a year earlier. Excluding one-time items, net income was 43 cents per share, a penny short of the 44 cents per share analysts expected.

Feb. 3: PNC Financial Services Group Inc. said its fourth-quarter net loss was $248 million, or 77 cents per share, compared with a profit of $178 million, or 52 cents, a year earlier. Revenue increased 3 percent to $1.68 billion. The loss followed its recent purchase of troubled lender National City Corp.

Feb. 3: Dow Chemical Co. said it lost more than $1.5 billion in the fourth quarter as sales dropped 23 percent to end one of its worst years on record amid a global slump.

Jan. 30: Exxon Mobil, the world's largest company by market cap, posted a record annual profit of $45.2 billion despite a year-end oil plunge. But lower oil prices did take a toll on the oil giant's fourth-quarter earnings, which tumbled 33 percent.

Jan. 30: Chevron, the second-largest U.S. oil company said that it earned $4.9 billion in the fourth quarter though revenues plunged 26 percent with oil prices in sharp decline.

Jan. 29: Ford, the second-largest U.S. automaker said it burned through $5.5 billion in the quarter as it posted a $5.9 billion loss.

Among the top movers in the session was Russian miner Mechel OAO (MTL.N), up nearly 30 percent. The company said it has received a $1 billion credit line from Gazprombank, the banking arm of Russian gas export monopoly Gazprom (GAZP.MM), to help it repay short-term debt.

4:02pm 02/09/2009

Principal Financial shares slumped 24% during Monday's evening trading session after the retirement savings specialist reported a big drop in quarterly net income.
Principal (PFG:principal financial group in com

PFG 17.03, +0.20, +1.2%) said fourth-quarter net income fell 98% from a year earlier, mostly because of realized capital losses of $188.9 million.
More than $100 million of the realized losses came from sales and permanent impairment of fixed maturity securities, Principal said. Another $29.3 million came from mark-to-market losses on equity securities.
Principal's book value dropped to $7.45 a share at the end of 2008. That was down from $19.56 a share at the end of September.
Principal shares dropped 24% to $12.99 during after-hours trading.