Font Resize
Dell Inc.
The personal computer maker's net income dropped 54 percent in the latest quarter amid signs the company isn't fully benefiting from the computer industry's fledgling recovery.
Net income fell to $337 million, or 17 cents per share, in its latest quarter, which ended Oct. 30. That compares with $727 million, or 37 cents a share, in the same period a year ago.
Revenue fell 15 percent to $12.9 billion.
Analysts polled by Thomson Reuters expected Dell to earn 28 cents per share on $13.2 billion in revenue in the latest quarter.
Sears Holdings Corp.
The largest U.S. department-store company posted a narrower third-quarter loss after reining in inventories and reducing discounts.
The net loss shrank to $127 million, or $1.09 a share, in the period ended Oct. 31, from a loss of $146 million, or $1.16, a year earlier. Revenue fell to $10.2 billion from $10.7 billion as the company operated 56 fewer stores than a year ago.
Gap Inc.
The operator of the Old Navy and Banana Republic clothing chains reported third-quarter profit rose 25 percent as inventory declined, and said it plans to buy back more stock.
Net income climbed to $307 million, or 44 cents a share, from $246 million, or 35 cents, a year earlier, the San Francisco-based company said. Revenue in the three months ended Oct. 31 rose less than 1 percent to $3.59
SABMiller Plc
The brewer of Pilsner Urquell and Miller Genuine Draft reported first-half profit that beat analysts' estimates and announced a four-year cost- reduction program to save $300 million annually by 2014.
Earnings before interest, taxes and amortization fell 1.7 percent to $2.19 billion, the London-based company said, exceeding the $2.13 billion median estimate of 10 analysts surveyed by Bloomberg. The shares rose as much as 5.2 percent in London, the most in more than six months.
