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Citigroup posts material Q4 losses resulting in 2009 loss

Citigroup has posted its Q4 2009 earnings, reporting a massive $7.6-billion loss ($0.33 per share) in the quarter. Compared to Q4 2008, Citigroup reported a $17.3-billion loss ($3.40 per share).

For the fiscal year ended 2009, Citigroup posted a $1.6-billion loss.

Citigroup generated $5.4-billion in total revenue for the quarter, or $15-5-billion excluding direct charges incurred from repayments to the U.S. Treasury’s TARP program.

The U.S. Treasury currently owns 27-percent of Citigroup.

Citigroup CEO Vikram Pandit said today in a statement that the bank had made “enormous progress in 2009,”

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Nike reports good Q2 earnings, no comment on Tiger Woods impact

The world’s largest sports apparel company, Nike, released Q2 2009 earnings, beating Wall Street expectations.

Nike reported total revenue of $4.4 billion ($0.76 per share) for the quarter, slightly beating Wall Street expectations of $0.71 per share.

Nike’s revenues fell by 4-percent in the second quarter mainly due to slumping demand for its products given decreased consumer spending in North America. However, emerging markets (were revenue was up by 8-percent to $555 million in the segment) particularly in China, helped to offset the slumping North American demand.

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RIM stock surging after beating Wall Street expectations

BlackBerry maker, RIM, posted very strong Q3 results, sending the stock surging up in after-hours trading

The popular BlackBerry maker, Research In Motion (RIM), today released third quarter financial earnings that beat Wall Street expectations, sending the RIM stock surging up by about 12-percent in after hours to $70.76 (as at 5:36pm EST), up from the $63.46 market-close.

Q3 (ended November 28) earnings were $3.92 billion ($1.10 per diluted share), while Wall Street was expected $1.04 per share and up to $3.79 billion in total revenue.

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CGI Group reports strong Q4 2009 earnings

Montreal-based CGI Group announced Q4 2009 earnings today.

The tech company announced Q4 2009 earnings were up to $82.6 million ($0.27 per share), up 9.69-percent over the same period last year.

Total revenue for Q4 2009 was $926.1 million, down a bit from $929.2 million reported last year in the same period.

Aggregately in 2009, CGI earned $3.83 billion in total revenue with net earnings totaling $315.2 million ($1.02) per share, up from $298.3 million in 2008.

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Microsoft Q3 earnings top Wall Street, new Apple attack ads

The world’s largest computer software-maker, Microsoft Inc., today announced Q3 2009 (ending Sept 30) earnings, easily beating Wall Street expectations and sending the Microsoft stock (MSFT) surging up almost 6-percent in mid-day trading.

Microsoft recorded total sales as $12.9 billion (down 14-percent from the same period last year), but still topped analyst expectations.

Microsoft posted $3.6 billion ($0.40 per share) in profits, an 18-percent decrease compared to the same period in 2008.

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McDonald’s posts strong Q3 2009 earnings

The fast-food giant posted strong quarterly earnings as people eat at more affordable restaurants in this economic downturn

The world’s biggest fast food chain, McDonald’s, has released stronger than expected Q3 earnings.

The company earned $1.26 billion ($1.15 per share), up compared to the same period last year with $1.19 billion in earnings ($1.05 per share).

The increase in revenue can be attributed to the company’s newest food offering, the more expensive and successful Angus Third Pounder burger.

The company noted currency losses for dragging revenue down, without considering currency losses, revenue for the quarter was actually up 2-percent.

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Bank of America posts massive $2.2B Q3 Loss

The Bank of America reported a massive $2.2B Q3 loss as more people default on their mortgages and lines of credit as unemployment continues to rise

The U.S. second-largest bank, the Bank of America, has posted poor Q3 (July to Sept) 2009 earnings, posting a massive $2.2 billion (a loss of $0.26 per share) loss in the quarter.

Revenue was up 33-percent in Q3 to $26.04 billion, but the increased losses stemming from an increasing number of people defaulting on their mortgage and credit loans resulted in those two units losing more than $1 billion in the period.

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Best Buy reports lower than expected quarterly profits

The top U.S. electronics retailer Best Buy Co. today posted quarterly earnings ended Aug 29.

The company’s total revenue was up 12-percent in the quarter to $11 billion, but profits were down from $202 million in the same period last year to $158 million ($0.37 per share).

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Dell Q2 2009 profits down 23% thanks to slumping business sales

Dell founder and CEO, Michael Dell

Dell founder and CEO, Michael Dell

Dell (DELL) just released its quarterly financial earnings today minutes before the closing bell in regular day trading, helping to rally the stock up 6 points as the company beat out Wall Street expectations.

Dell said revenue was down almost 23-percent to $12.8 billion (Wall Street expected $12.6 billion).

Dell reported Q2 2009 profit as $472 million ($0.24 per share).

The profits are down significantly compared to last year in the same period, when Dell reported profits of $616 million ($0.31 per share).

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Salesforce posts 20% rise in profits Q2 2009 $21.2M

Salesforce CEO Mark Benioff

Salesforce CEO Mark Benioff

The CRM software provider Salesforce.com has just posted strong second quarter financial results.

The company had a 20-percent increase in Q2 2009 (ended July 31) total revenue of $316.1 million compared to the same period last year.

Net income was up a significantly by 112-percent to $21.2 million, despite the fact that companies are spending less to curb costs during this tuff economic time.

Salesforce CEO Marc Benioff said that competition is intensifying between major rivals including Microsoft and Oracle, but the company is still fairing well and continues to win contracts over its major competitors.

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