Tuesday, January 27, 2009

Headline Earnings News 1/27/2009

A gaggle of US companies reporting earnings.  Here are some of the highlights:
  • DuPont swung to a loss in the fourth quarter.  The large chemical company reported a $629 million loss, compared with net income of $545 million in the previous year, on revenue of $5.82 billion, a 17% decline year over year.
  • Delta reported a fourth quarter net loss of $1.4 billion.  Nearly $1 billion of the losses were linked to merger costs and fuel hedges that lost money due to the decline in oil prices.  The airline, however, expects to be profitable in 2009 and anticipates cutting another 6% to 8% in capacity after the 11% reduction in the second half of 2008. 

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