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Among the companies scheduled to report their quarterly results Wednesday:
Corning (GLW) is expected to show a loss of 8 cents a share by a consensus of analysts polled by Thomson First Call.
Electronic Data Systems (EDS) is expected to report earnings of 12 cents a share.
Monsanto (MON) is expected to report a loss of 57 cents a share.
ChevronTexaco (CVX) and Dynegy (DYN) may amend a natural-gas pact as Dynegy exits the energy trading business, ChevronTexaco said late Tuesday. See full story.
Fiat may turn to General Motors (GM) for more help in bailing out the Italian conglomerate's auto operations, according to the Financial Times. See full story.
Investment banks Credit Suisse First Boston (CSR), Salomon Smith Barney (C) and Bear Stearns (BSC) are reportedly cutting more investment banking and trading jobs. The news comes ahead of an epic showdown with federal regulators over banking and research practices. See full story.
Bausch & Lomb (BOL) on Tuesday barred Chairman Ronald Zarrella from receiving bonuses in 2002 after the executive apologized for misrepresenting his academic background in his official biography. However, the board of the optics company said it would allow Zarrella, who offered to resign, to stay on in his post as CEO and chairman. His contract had guaranteed him at least $1.1 million in bonuses this year. On Oct. 18, Zarrella admitted that his resume falsely said he earned an MBA from New York University.
Maxim Integrated Products (MXIM) reported fiscal first-quarter financial results that met Wall Street's expectations. Orders declined during the quarter, but Maxim said gross margin should improve during the second quarter due to cost cuts.
Micromuse (MUSE) reported fiscal fourth-quarter revenue of $25 million and a net loss of $56.4 million, or 75 cents a share. Excluding items, the San Francisco business software firm reported a loss of $7.3 million, or 10 cents a share. Analysts polled by Thomson First Call were looking for a loss of 11 cents a share, on average. That estimate was revised following a warning from Micromuse on Oct. 9 when it scaled back its pro forma outlook due to weak spending conditions and ongoing structural changes in its target markets. Ahead of the report, shares were down 11 percent Tuesday and gained a nickel after hours on Island ECN.
Sanmina on Tuesday reported a more than 15-fold increase in its fourth-quarter net loss from a year ago, mainly due to a $2.7 billion goodwill impairment charge mandated by changes in accounting rules. The electronic components contract manufacturer (SANM) reported a net loss of $2.6 billion, or $5.10 a share. A year ago, it had a net loss of $167.8 million, or 52 cents.
Corning (GLW) is expected to show a loss of 8 cents a share by a consensus of analysts polled by Thomson First Call.
Electronic Data Systems (EDS) is expected to report earnings of 12 cents a share.
Monsanto (MON) is expected to report a loss of 57 cents a share.
ChevronTexaco (CVX) and Dynegy (DYN) may amend a natural-gas pact as Dynegy exits the energy trading business, ChevronTexaco said late Tuesday. See full story.
Fiat may turn to General Motors (GM) for more help in bailing out the Italian conglomerate's auto operations, according to the Financial Times. See full story.
Investment banks Credit Suisse First Boston (CSR), Salomon Smith Barney (C) and Bear Stearns (BSC) are reportedly cutting more investment banking and trading jobs. The news comes ahead of an epic showdown with federal regulators over banking and research practices. See full story.
Bausch & Lomb (BOL) on Tuesday barred Chairman Ronald Zarrella from receiving bonuses in 2002 after the executive apologized for misrepresenting his academic background in his official biography. However, the board of the optics company said it would allow Zarrella, who offered to resign, to stay on in his post as CEO and chairman. His contract had guaranteed him at least $1.1 million in bonuses this year. On Oct. 18, Zarrella admitted that his resume falsely said he earned an MBA from New York University.
Maxim Integrated Products (MXIM) reported fiscal first-quarter financial results that met Wall Street's expectations. Orders declined during the quarter, but Maxim said gross margin should improve during the second quarter due to cost cuts.
Micromuse (MUSE) reported fiscal fourth-quarter revenue of $25 million and a net loss of $56.4 million, or 75 cents a share. Excluding items, the San Francisco business software firm reported a loss of $7.3 million, or 10 cents a share. Analysts polled by Thomson First Call were looking for a loss of 11 cents a share, on average. That estimate was revised following a warning from Micromuse on Oct. 9 when it scaled back its pro forma outlook due to weak spending conditions and ongoing structural changes in its target markets. Ahead of the report, shares were down 11 percent Tuesday and gained a nickel after hours on Island ECN.
Sanmina on Tuesday reported a more than 15-fold increase in its fourth-quarter net loss from a year ago, mainly due to a $2.7 billion goodwill impairment charge mandated by changes in accounting rules. The electronic components contract manufacturer (SANM) reported a net loss of $2.6 billion, or $5.10 a share. A year ago, it had a net loss of $167.8 million, or 52 cents.