Cisco’s revenue climbed 10.4%, but the company issued a forecast that suggests its growth rate will remain subdued. Net income fell 5.4%, primarily on acquisition charges.
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UBS plans to sell $15 billion in mortgage assets to BlackRock and cut 5,500 jobs an effort to restructure its troubled investment bank, as the Swiss giant recorded a net loss of nearly $11 billion. Video
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Disney’s profit jumped 22% on strong growth in the company’s media-networks, studio entertainment and parks-and-resorts divisions.
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D.R. Horton swung to a loss on $834.1 million in pretax charges related to inventory impairments and write-downs of land.
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Swiss Re’s net profit fell 53% on a hefty write-down tied to U.S. subprime investments. Hannover Re’s net rose 23%.
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Adidas reported a sharp rise in first-quarter net profit due to growth in the adidas and TaylorMade-adidas Golf brands.
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Updated from 4:18 pm ET. Aside from the ongoing Microsoft-Yahoo drama, Tuesday’s tech rally was mainly a function of broad market momentum, which continued despite oil’s surge and Fannie Mae’s gaping loss. (Ironically, it was ener
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Once again, the financials are dictating market action.Early Tuesday, the broad market weakened in the wake of crude’s latest spike and
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