According to Reuters, profits at British Airways (BAB) dropped 18%.
Reuters writes that DaimlerChrysler (DCX) will sharply reduce its debt after the sale of Chrysler.
Reuters also reports that JC Penny (JCP) profirts rose sharply taking the company’s shares higher.
Reurters also writes that Marvell (MRVL) reported revenue below Wall St. estimates.
The Wall Street Journal reports that GE (GE) is close to selling its plastics unit to Saudi Basic Industries for $11 billion. The price is more than expected.
The Wall Street Journal also reports that Alliant Techsystems won a government contract to develop precision-guided artillery shells
The WSJ also reports that profits at Intuit (INTU) rose 23% due to sales during tax season.
The WSJ also writes that IBM (IBM) "expects to find enough cost cuts, acquisitions and stock-buyback opportunities that annual earnings per share could nearly double by 2010."
According to The New York Times, the Nintendo Wii sold 460,000 units in the US during April, Microsoft (MSFT) Xbox 360 sold 174,000 units and Sony (SNE) PS3 sold 82,000.
FT says IBM claims it will "derive half of its profits from software and double its revenues in emerging markets to $9bn by the end of the decade"
Barron’s writes that Autodesk’s (ADSK) forecasts for the next quarter topped Wall St. estimates.
Douglas A. McIntyre
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