Company News for August 4, 2009 – Corporate Summary
Zacks Market Commentaries (August 4th, 2009) Writes:
• Toyota (NYSE:TM) reported a June quarter loss of $819 million, reflecting sluggish US sales and a stronger yen, which offset cost-cutting measures and inventory decreases; however, the firm cut its loss forecast on the year by about 18% to $4.7 billion
• Xstrata, the world's fifth largest diversified mining group, reported a 77% fall in six month results to 38 cents a share adjusted from $1.66, although above estimates of 33.6 cents
• UBS (NYSE:UBS) reported a higher-than-expected second quarter loss of $1.32 billion, which was less than the prior quarter loss. The bank's Tier 1 capital ratio rose to 13.2% at quarter's end from 10.5% at the beginning of the quarter
• Vulcan Metals (NYSE:VMC) reported a second quarter earnings of 14 cents, ex-items, versus estimates of 20 cents a share, as revenues fell 29.3% from a year earlier to $721.9 million, off estimates of $759.1 million. The firm said it
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