AMP Turns to 1st-Half Profit After It Cut Debt, Costs
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Aug. 18 (Bloomberg) -- AMP Ltd., Australia&#39;s largest life insurer, turned to aA$378 million ($271 million) first-half profit after it reduced debt, cut costs and sold more investment products as stock markets gained.
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Reflecting the recent cut revenue expectations and lowered analyst forecasts, North American semi equipment manufacturers reported a book to bill ration of 1.0 with $1.
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EMI, the world's third-largest music group, reported a 7 percent drop in first-half profits on Friday but said the beleaguered industry was rebounding as digital music sales start to take off.
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YESTERDAY Close $33.32 Change +$0.35 52-WEEK High $39.81 Low $26.07 Analog Devices Inc. , a Norwood maker of semiconductors used in products from mobile phones to cars, said first-quarter profit increased 27 percent.
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EMC Corp , the No. 1 maker of corporate data storage equipment, reported quarterly profit that beat Wall Street forecasts and boosted a stock buyback on Thursday.
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EMI, the world&#39;s third-largest music group, reported a drop in first-half profits on Friday but said the beleaguered industry was rebounding as online music sales start to take off.
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The telecommunications giant finished its first full year as a merged company with a net loss of 3.52 billion euros, or $5.1 billion, mostly on charges, and it predicted a loss for the current quarter.
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Cable &amp; Wireless Group PLC swung to a profit in the first half Wednesday and said it would cut 600 jobs in a reorganization in Europe.
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The Bank of Ireland reported a 7.8 percent rise in first half profit Thursday but also revealed a significant rise in withdrawals at its asset management unit.
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Toshiba Corp., the Japanese electronics and computer maker, said Friday it posted a profit in the first half of its fiscal year, rebounding from losses last year on restructuring and rising sales of digital video recorders, semiconductor memory chips and personal computers. It boosted its forecast for the year.
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Insurer and fund manager AMP Ltd. , on Wednesday posted a better-than-expected first-half profit on higher investment returns and improved margins, and targeted a stronger performance for the remainder of the year.
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Sharp Corp  said its operating profit in the fiscal first half likely slipped 12.4 percent from a year earlier, falling short of market expectations, on tight supplies and higher prices of materials used to make solar cells.
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SunTrust Banks, which fired three executives this week over accounting for bad loans, restated first-half profit yesterday, raising it by $25.
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The company reported net income of $509 million in its first fiscal quarter, compared with $440 million in income for the same quarter a year ago.
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Aug. 18 (Bloomberg) -- Andrew Mohl, chief executive of AMP Ltd., speaks at a news conference in Sydney about the company&#39;s first-half profit, plans to reduce customer fees and reduce debt, and second-half outlook. AMP, Australia&#39;s largest life insurer, ...
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Fourth-quarter profit almost doubled after it reduced costs and generated more revenue from government orders.
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The Canadian telecom equipment maker has issued its first post-accounting-scandal financial update. So far, so good ...