(AP) - Among the earnings stories for Wednesday, Jan. 23, from AP Financial
News:
Top stories:
WASHINGTON (AP) -- Embattled Sallie Mae, the nation's largest student
lender, on Wednesday reported a fourth-quarter loss of $1.6 billion as it
slumped under heavy borrowing costs and set aside $575 million to cover expected
losses on student loans.
CHICAGO (AP) -- Cell phone maker Motorola Inc. said Wednesday its net
profits fell 84 percent in the fourth quarter and warned that the recovery in
its struggling handset unit will take longer than expected. Its shares
plummeted.
Other stories:
DALLAS (AP) -- The headlines may warn of an impending recession, but
executives at Texas Instruments Inc. say they're not seeing it in customers'
orders.
SAN JOSE, Calif. (AP) -- As investors pummeled Apple Inc.'s stock over a
disappointing financial outlook, a key question remained about the results: just
how badly will the company be hurt by slowing economic activity in the United
States and fears of a recession?
WAYZATA, Minn. (AP) -- Regional bank TCF Financial Corp. said Wednesday its
fourth-quarter earnings rose 17 percent due to gains on sales of securities and
slight increases in both net interest and noninterest income.
PARAMUS, N.J. (AP) -- Hudson City Bancorp said Wednesday fourth-quarter
earnings rose 12 percent due to a 15 percent jump in net interest income.
SPARKS, Md. (AP) -- Spice maker McCormick & Co. Inc. said Wednesday
fourth-quarter profit climbed 5 percent as price increases and higher
international sales offset the impact of higher raw material costs and lower
shipments of holiday products.
NEEDHAM, Mass. (AP) -- Product-development software maker Parametric
Technology Corp. said Wednesday its fiscal first-quarter profit declined, hurt
by a restructuring charge and other items, but adjusted earnings surpassed Wall
Street's expectations.
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