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Royal predicts better 2009 profit than expected

April 23, 2009 5:59 am | by The Associated Press | News | Comments

MIAMI (AP) — Royal Caribbean Cruises Ltd. offered a brighter forecast than expected for its 2009 earnings on Thursday, saying its bookings are stabilizing and cost-cutting efforts are taking hold.The company expects to earn roughly $1.35 per share for the year. Analysts polled by Thomson Reuters...

Reliance Industries quarterly profit falls 9.4 pct

April 23, 2009 5:49 am | by ERIKA KINETZ - AP Business Writer - Associated Press | News | Comments

MUMBAI, India (AP) — Indian oil, gas and petrochemicals giant Reliance Industries Ltd. said Thursday that quarterly profits fell 9.4 percent and sales fell 24.9 percent, as waning demand pushed global crude prices lower.Net profit in the three months ending March 31 was 35.46 billion rupees ($730...

Papa John's founder staying on as CEO

April 23, 2009 5:49 am | by The Associated Press | News | Comments

LOUISVILLE, Ky. (AP) — Papa John is staying put at the helm of the pizza business he started in a former broom closet.John Schnatter will stay on as chief executive officer of Louisville-based Papa John's International, a role described as interim in December when then-president and CEO Nigel...

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McClatchy 1Q loss widens amid advertising meltdown

April 23, 2009 5:28 am | by The Associated Press | News | Comments

SAN JOSE, Calif. (AP) — The McClatchy Co.'s losses widened in the first quarter amid an advertising meltdown that is increasing pressure on the publisher to meet commitments to lenders.The report released Thursday was far worse than analysts had anticipated, raising questions about whether the...

Nucor posts 1Q loss of $190M on weak steel demand

April 23, 2009 5:23 am | by The Associated Press | News | Comments

PITTSBURGH (AP) — Nucor Corp., the largest U.S. steel maker by production, on Thursday reported its first loss ever as a severe recession sapped demand for the metal. It forecast an even bigger loss for the second quarter, calling conditions the worst it's ever seen.Like other steel companies,...

Geithner to outline efforts to fix banking system

April 23, 2009 5:18 am | by MARTIN CRUTSINGER - AP Economics Writer - Associated Press | News | Comments

WASHINGTON (AP) — Treasury Secretary Timothy Geithner is expected to outline the Obama administration's efforts to clean up the U.S. banking system during meetings Friday with finance ministers from the Group of Seven nations, a department official said.Getting banks to lend again, along with...

Grand Rapids art contest to offer $250K 1st prize

April 23, 2009 5:07 am | by JAMES PRICHARD - Associated Press Writer - Associated Press | News | Comments

GRAND RAPIDS, Mich. (AP) — Members of the public will use mobile devices and the Web to choose the winner of one of the largest art prizes ever offered at a new, annual event scheduled to be announced Thursday.Organizers of the first ArtPrize art competition hope to receive thousands of entries...

Exelon 1Q earnings up 23 percent on nuclear output

April 23, 2009 4:52 am | by The Associated Press | News | Comments

COLUMBUS, Ohio (AP) — Exelon on Thursday said its first quarter earnings rose 23 percent, driven by increased output at its nuclear operations and higher rates.The company reiterated its profit outlook of $4 to $4.30 per share for the year and in premarket trading, company shares jumped nearly 6...

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US Airways 1Q loss shrinks

April 23, 2009 4:47 am | by JOSHUA FREED - AP Airlines Writer - Associated Press | News | Comments

MINNEAPOLIS (AP) — US Airways said its first-quarter loss shrank, and executives are beginning to hope things have stopped getting worse.The carrier also said on Thursday it will begin charging passengers an extra $5 per bag to check luggage at the airport rather than online."The revenue...

ConocoPhillips says profit down 80 percent

April 23, 2009 4:47 am | by JOHN PORRETTO - AP Energy Writer - Associated Press | News | Comments

HOUSTON (AP) — ConocoPhillips said Thursday its first-quarter profit tumbled 80 percent from a year ago as sharply lower crude and natural-gas prices walloped results at the nation's third-largest oil company.But the results easily beat Wall Street expectations and ConocoPhillips shares rose 3.2...

Union Pacific 1Q profit falls 18 pct

April 23, 2009 4:31 am | by The Associated Press | News | Comments

OMAHA, Neb. (AP) — Union Pacific Corp. said Thursday its first-quarter profit fell 18 percent as the railroad carried 21 percent fewer carloads, but cost-cutting pushed its results above Wall Street expectations. Its shares rose nearly 4 percent.Union Pacific Chairman and Chief Executive Jim Young...

Supervalu loses $201 million in 4th-quarter

April 23, 2009 4:26 am | by The Associated Press | News | Comments

MINNEAPOLIS (AP) — Supervalu Inc., one of the nation's largest grocery chains, says it lost $201 million in its fiscal fourth-quarter mostly because of hefty goodwill and asset impairment charges. Adjusted results managed to top analysts' estimates.The Eden Prairie, Minn.-based company lost 95...

Alaska Air Group narrows 1Q loss

April 23, 2009 4:21 am | by HARRY R. WEBER - AP Airlines Writer - Associated Press | News | Comments

ATLANTA (AP) — Alaska Air Group Inc., parent of Alaska Airlines and Horizon Air, said Thursday it narrowed its first-quarter loss and will start charging for a first checked bag like most other airlines.The company lost $19.2 million compared to a year-ago loss of $37.3 million.The Seattle-based...

NCR reports loss of $15M in first quarter

April 23, 2009 4:11 am | by The Associated Press | News | Comments

DAYTON, Ohio (AP) — NCR Corp. lost $15 million in the first quarter compared with a profit of $48 million in the same period of 2008, largely because of a downturn in the retail industry, the company said Thursday.The maker of automated teller machines, retail checkout scanners and self-serve...

JetBlue posts 1Q profit, plans new routes

April 23, 2009 4:06 am | by The Associated Press | News | Comments

NEW YORK (AP) — JetBlue Airways Corp. on Thursday said it will "aggressively defend" itself against growing competition on routes and pricing from rivals including Southwest Airlines Co. and Virgin America, after posting a first-quarter profit that topped Wall Street expectations.Aiming directly at...

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