(AP) - Among the earnings stories for Thursday, May 29, from AP Financial
News:
Top stories:
PHILADELPHIA (AP) -- Soaring commodity costs prompted H.J. Heinz Co. to
raise prices on a host of consumer products, helping the foodmaker post a 7.2
percent increase in fourth-quarter earnings on Thursday. The company also
boosted its dividend.
Other stories:
SEATTLE (AP) -- Costco Wholesale Corp. reported a 32 percent jump in its
fiscal third-quarter profit Thursday, topping Wall Street expectations, as
cash-squeezed customers flocked to its warehouse clubs in search of bargains on
food and toiletries.
WASHINGTON (AP) -- Federally insured banks and thrifts set aside a record
$37.1 billion to cover losses from soured mortgages and other loans in the first
quarter, when profits were nearly halved, regulators said Thursday.
NEW YORK (AP) -- Russian mining and steel company Mechel OAO said Thursday
its 2007 profit surged by more than half, topping Wall Street expectations, as
it ramped up production.
CHICAGO (AP) -- Retailer Sears Holdings Corp. posted its second quarterly
loss since Kmart acquired Sears stores in 2005, saying Thursday that it lost $56
million in the first quarter and fell far short of Wall Street forecasts.
NEW YORK (AP) -- Greek shipping and logistics company Navios Maritime
Holdings Inc. said Thursday its first-quarter earnings fell 4 percent, missing
Wall Street's expectations, as soaring costs offset sales that more than tripled
from a year earlier.
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