Investors weigh inflation comments with Disney’s upbeat earnings news and upcoming oil and housing reports. A Sprint and Clearwire deal brings a new wireless broadband venture. Kelsey Hubbard reports. (May 7)
Brewer InBev reported a worse-than-expected 11% fall in first-quarter net profit, as lower beer sales in Brazil and higher raw-materials costs pinched the company’s margins.
Deutsche Telekom said its first-quarter net income more than doubled as it reaped the benefit of selling its media and broadcast unit.
AIG plans to raise $12.5 billion in capital after posting its second straight steep quarterly loss. The insurance giant took $9.11 billion in charges on its credit-default swaps and recorded $6.09 billion of investment losses.
Bond insurers Security Capital Assurance and Assured Guaranty both reported first-quarter losses amid the credit crunch, which has shrunk the value of many mortgage-backed securities they insured.