McDonald’s
The nation’s No. 1 hamburger chain said its net income for the quarter ended Dec. 31 fell to $985.3 million, or 87 cents per share, beating analyst estimates from Thomson Reuters by 4 cents per share.
That compares with $1.27 billion, or $1.06 per share, a year ago, when it had a tax benefit of 33 cents per share. Revenue fell to $5.57 billion from $5.75 billion because of the impact of a stronger dollar.
Freeport-McMoRan
The mining giant posted its biggest quarterly loss in company history Monday, nearly $14 billion during the fourth quarter, with the price for metals slumping amid a global economic slowdown.
But shares for the Phoenix-based company soared anyway as officials said they would cut production of copper, used in everything from housing to appliances, and molybdenum, used to make steel. In November, the company halted plans for a $500 million renovation of the Climax mine in Leadville.
The company reported a loss of $13.9 billion, or $36.78 per share, compared with a net income of $414 million, or $1.05 per share, in the prior-year period.
Tyson Foods
The world’s largest meat producer announced a $112 million loss Monday for its first quarter, but said the prices it pays for feed are receding and the company could return to profitability within two quarters.
The loss of 30 cents per share in the period that ended Dec. 27 compares with a profit a year earlier of $34 million, or 10 cents per share, and comes even though revenue rose slightly to $6.52 billion from $6.48 billion.
Texas Instruments
The cellphone component maker reported Monday sharp declines in fourth-quarter profit and revenue and announced it will cut 3,400 jobs.
The company earned $107 million, or 8 cents per share, down 86 percent from $756 million, or 54 cents per share, during the same period of 2007. TI predicted last month that it would earn 10 cents to 16 cents per share. Revenue plunged 30 percent to $2.49 billion from $3.56 billion in 2007.
American Express
The credit-card company said Monday that its profit tumbled 79 percent in the fourth quarter as card members cut spending amid the harsh economy and the company took a big severance-related charge.
The New York-based company also forecast higher delinquencies and loan losses. For the final three months of the year, AmEx earned $172 million, or 15 cents per share, compared with earnings of $831 million, or 71 cents per share, a year earlier.
