Best Buy returned to a profit in the fourth quarter and topped Wall Street expectations as it cut costs to offset declining sales. The specialty electronics retailer says it gained market share during the quarter and shares jumped 5 percent in premarket trading Thursday.
Target Corp says the massive data breach over the holidays helped push its profit down 46 percent. The discount retailer said Wednesday that sales fell 5.3 percent as the breach scared off customers.
Delta is reporting better-than-expected fourth-quarter profit as fares and traffic rose. Delta’s yield — a key measure of what each passenger pays to fly one mile — rose 4 percent.
General Mills’ fiscal second-quarter net income rose 2 percent, helped by lower expenses. But the Minneapolis company’s performance fell short of Wall Street’s expectations. Its stock declined more than 2 percent in Wednesday premarket trading.
Rate increases helped FedEx Corp. post net income that was 14 percent higher than a year earlier, when superstorm Sandy hurt business. However, the second-quarter profit of $1.57 per share was lower than the $1.64 per share expected by analysts surveyed by FactSet.
3M is raising its quarterly dividend by 35 percent, sending its share price higher in premarket trading. The company, which makes items including Post-it notes, reflective coatings for signs, and glues and adhesives, said it is raising its dividend to 85.5 cents per share from 63.5 cents per share.
Hormel Foods said Tuesday that its fiscal fourth-quarter net income rose 19 percent, benefiting from strong export sales of its Spam canned ham and Skippy peanut butter. Its performance beat analysts’ expectations.
Electronics retailer Best Buy Co. returned to a profit in the third quarter as the busy holiday season revs up. But the company says it expects a tough competitive environment during the holiday season.
Caterpillar’s mining business is down in a hole. Its third-quarter earnings plunged 44 percent and it cut its forecast, again. It said revenue will be almost $11 billion lower than last year, a drop of 17 percent.
Delta Air Lines made more than a billion dollars in the third quarter as more passengers paid a little bit extra to fly. Even its new oil refinery turned a small profit. The profit of $1.37 billion worked out to $1.59 per share. Not counting gains from fuel hedges, the company would have earned $1.2 billion, or $1.41 per share.
UnitedHealth Group Inc.’s third-quarter earnings inched up 1 percent in a rare performance that failed to trump Wall Street expectations. The nation’s largest health insurer also gave a less-than-reassuring vibe to investors by narrowing its 2013 forecast instead of raising it.
Supervalu returned to a profit in its fiscal second quarter after posting a loss in the same period a year ago due to a large charge. Its adjusted profit and revenue beat analysts’ expectations. Shares climbed more than 6 percent premarket trading Thursday.
Fastenal Co. said Wednesday its third-quarter net income rose 9 percent, helped by the installations of more industrial vending machines that sell its products. But the results fell slightly short of Wall Street predictions and Fastenal shares dropped 5 percent in premarket trading.
The hair salon operator Regis returned to a profit in its fiscal fourth quarter although a key revenue figure and a measure of customer traffic fell. Regis, with brands including Supercuts, MasterCuts and others, earned $675,000, or 1 cent per share, for the three months ended June 30.
Target Corp. is reporting a 13 percent drop in second-quarter earnings as the discounter spent money on opening stores in Canada and dealt with cautious shoppers in the U.S. The Minneapolis-based discounter is offering a muted full-year outlook.