Toyota posted a 28% drop in quarterly profit, and the Japanese car maker said a stronger yen, soaring raw-material costs and a continued U.S. slowdown will likely lead to its first annual profit decline in seven years.

Tribune’s net rose sharply on tax benefits tied to its buyout. Slumping ad sales hurt the publishing unit’s profit.

Barr’s net nearly doubled, but the drug company cut its forecast, sending shares lower. Biovail’s profit fell 40%.

Asset manager Fortress Investment Group reported a first-quarter loss, posting tepid results across its hedge funds and private-equity vehicles.

Nasdaq OMX’s net income soared amid the February acquisition of Nordic and Baltic exchange operator OMX.

Vonage posted a narrower loss on cost cuts, but subscriber growth continued to slow at the Internet phone company as more customers canceled their service.

Cablevision’s loss widened as weakness in its Madison Square Garden operations offset subscriber growth. The company disclosed plans to build a wireless broadband network in the New York area.

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.

“It wasn’t those planes that killed Kong…It was beauty that killed the beast.”The rally from the mid-March lows came to a screeching halt this week amid surging oil prices and