(Reuters) - The year ago figures included costs related to restructuring.
Revenue increased 11 percent to $1.5 billion
Read more at Reuters.com Market News
Revenue increased 11 percent to $1.5 billion
Read more at Reuters.com Market News
Monday, July 30, 2007
BP Says CATS North Sea Pipeline to Restart in September After Repair Work
(Bloomberg) -- BP Plc said divers completed an
inspection of the damaged CATS natural gas pipeline in the North
Sea and a permanent repair will be required before the pipeline can
resume operating in September.
``A metal sleeve will be installed to strengthen and protect
the affected area of pipeline,'' BP said in an e-mailed statement
today. ``Design and fabrication of the sleeve is already under way
and it is expected that the system will restart during September.''
Read more at Bloomberg Energy News
inspection of the damaged CATS natural gas pipeline in the North
Sea and a permanent repair will be required before the pipeline can
resume operating in September.
``A metal sleeve will be installed to strengthen and protect
the affected area of pipeline,'' BP said in an e-mailed statement
today. ``Design and fabrication of the sleeve is already under way
and it is expected that the system will restart during September.''
Read more at Bloomberg Energy News
GM seen posting profit, analysts remain cautious
(Reuters) - Still, analysts remained cautious about the weakness in the
U.S. housing market, which could weigh on GM's results through
the remainder of the year, and about sustainable profitability
in its North American operations.
Analysts, on average, expect GM to post on Tuesday a
second-quarter net profit of $1.10 a share, compared with a net
loss of $5.98 a share a year earlier. The per-share profit
estimates range from $1.00 to $1.28.
Read more at Reuters.com Bonds News
U.S. housing market, which could weigh on GM's results through
the remainder of the year, and about sustainable profitability
in its North American operations.
Analysts, on average, expect GM to post on Tuesday a
second-quarter net profit of $1.10 a share, compared with a net
loss of $5.98 a share a year earlier. The per-share profit
estimates range from $1.00 to $1.28.
Read more at Reuters.com Bonds News
GMAC CFO says ResCap's liquidity sufficient
(Reuters) - Earlier Monday, finance company GMAC posted a 63 percent
decline in quarterly profit, hurt by a $254 million loss at
ResCap. Last year, General Motors Corp. sold a majority
stake in GMAC.
Read more at Reuters.com Market News
decline in quarterly profit, hurt by a $254 million loss at
ResCap. Last year, General Motors Corp. sold a majority
stake in GMAC.
Read more at Reuters.com Market News
UPDATE 1-Hedge fund Citadel takes over Sowood's credit fund
(Reuters) - Chicago-based Citadel, which manages $14 billion, came to the rescue after Boston-based Sowood, which managed $3 billion, got into trouble with bond trades this summer. Rumors that Sowood might be forced to shut down roiled financial markets late last week.
On Friday a person familiar with Sowood's operations told Reuters that the fund, which manages money for Harvard University and other prominent clients, lost 8 percent in July and 5 percent in June, bringing losses to 10 percent for the year.
Read more at Reuters.com Bonds News
On Friday a person familiar with Sowood's operations told Reuters that the fund, which manages money for Harvard University and other prominent clients, lost 8 percent in July and 5 percent in June, bringing losses to 10 percent for the year.
Read more at Reuters.com Bonds News
US STOCKS-Profit optimism lifts Wall St gloom
(Reuters) - NEW YORK, July 30 - U.S. stocks rose in choppy
trade on Monday after Wall Street's worst week in nearly five
years as optimism about the earnings outlook offset concerns
about the deteriorating credit market.
Expectations for quarterly earnings growth by Standard &
Poor's 500 companies were raised to 6.8 percent compared with
the year-ago period from 6.0 percent expected one week earlier,
according to Reuters Estimates.
Read more at Reuters.com Bonds News
trade on Monday after Wall Street's worst week in nearly five
years as optimism about the earnings outlook offset concerns
about the deteriorating credit market.
Expectations for quarterly earnings growth by Standard &
Poor's 500 companies were raised to 6.8 percent compared with
the year-ago period from 6.0 percent expected one week earlier,
according to Reuters Estimates.
Read more at Reuters.com Bonds News
GMAC posts smaller profit as ResCap weighs
(Reuters) - Its Residential Capital LLC unit posted a net loss of $254
million, compared with a profit of $548 million a year earlier.
Year-earlier results included a $259 million one-time gain.
GM last November sold a 51 percent stake in GMAC for $14
billion to a group led by private equity firm Cerberus Capital
Management. The automaker kept the remaining 49 percent.
Read more at Reuters.com Market News
million, compared with a profit of $548 million a year earlier.
Year-earlier results included a $259 million one-time gain.
GM last November sold a 51 percent stake in GMAC for $14
billion to a group led by private equity firm Cerberus Capital
Management. The automaker kept the remaining 49 percent.
Read more at Reuters.com Market News
Subscribe to:
Posts (Atom)
