American International Group (AIG: news, chart, profile) announced several steps to improve its corporate governance in response to an accounting scandal that erupted earlier this year. AIG's board has formed a Regulatory Compliance and Legal Committee and a Public Policy and Social Responsibility Committee. The company also announced two new directors: George Miles and Morris Offit. See full story.
Google, (GOOG: news, chart, profile) the No. 1 search engine, said its first-quarter profit increased more than fivefold on revenue that doubled, as more businesses placed ads with Google's site and with its distribution partners. Google said first-quarter earnings rose to $369 million, or $1.29 a share, from $64 million, or 24 cents a share, a year ago. Mountain View, Calif.-based Google also said quarterly sales rose to $1.256 billion from $651.6 million a year earlier. See full story.
Qwest Communications International (Q: news, chart, profile) raised its takeover offer for MCI Inc. (MCIP: news, chart, profile) to $30 a share, or $97 billion, once again raising the stakes in its struggle to wrest the long-distance provider away from larger rival Verizon communications Inc. (VZ: news, chart, profile) See full story.
Friday's watch list
Callaway Golf (ELY: news, chart, profile) said its first-quarter profit was cut in half as demand for its popular drivers and fairways woods sharply declined. The Carlsbad, Calif.-based company posted a profit of $18.4 million, or 27 cents a share, down from $40.5 million, or 59 cents a share, a year ago. See full story.
DoubleClick Inc. (DCLK: news, chart, profile) said it swung to a quarterly loss even as sales rose 12%, with the advertisings technology company's operating expenses ballooning. The New York-based company reported a loss of $917,000, or 1 cent a share, compared with a profit of $7.7 million, or 5 cents a share a year ago. See full story.
Fiserv Inc. (FISV: news, chart, profile) said its first-quarter profit jumped to $139 million, or 71 cents a share, from $92.8 million, or 47 cents a share, a year earlier. Revenue for the period that ended March 31 increased to $973.1 million from $908.9 million a year earlier. See full story.
Eastman Kodak Co. (EK: news, chart, profile) is expected by analysts polled by Thomson First Call to post a first-quarter profit of 33 cents a share on revenue of $2.92 billion.
Gillette Co. (G: news, chart, profile) said it moved to quash a subpoena issued by the Massachusetts Secretary of Commonwealth requesting information related to its planned acquisition by Procter & Gamble Co. (PG: news, chart, profile) See full story.
Halliburton Co. (HAL: news, chart, profile) reported a first-quarter profit of $365 million, or 72 cents a share, but said its revenue fell 11% from last year's levels, in part attributed to less government work in the Mideast. See full story.
International Paper Co. (IP: news, chart, profile) is expected to post a first-quarter profit of 30 cents a share on revenue of $6.57 billion.
Lear Corp. (LEA: news, chart, profile) is expected to post a first-quarter profit of 3 cents a share on revenue of $4.28 billion.
Industrial components maker Leggett & Platt Inc. (LEG: news, chart, profile) delivered a 16% increase in first-quarter earnings, with higher sales and stable steel prices making the difference. The company had a net income of $72.8 million, or 37 cents a share, up from $62.8 million, or 32 cents a share, in the year-ago period. See full story.
Maytag Corp. (MYG: news, chart, profile) is expected to post a first-quarter profit of 20 cents a share on revenue of $1.18 billion.
Online video rental firm Netflix Inc. (NFLX: news, chart, profile) said that its first-quarter loss widened to $8.8 million, or 17 cents a share, on higher marketing expenses. Last year, the company posted a loss of $5.8 million, or 11 cents a share. See full story.
Yellow Roadway Corp. (YELL: news, chart, profile) said its first-quarter earnings rose to $49.9 million, or 96 cents a share, more than twice the $18.2 million, or 38 cents a share, earned in the year-ago period. See full story.
Google, (GOOG: news, chart, profile) the No. 1 search engine, said its first-quarter profit increased more than fivefold on revenue that doubled, as more businesses placed ads with Google's site and with its distribution partners. Google said first-quarter earnings rose to $369 million, or $1.29 a share, from $64 million, or 24 cents a share, a year ago. Mountain View, Calif.-based Google also said quarterly sales rose to $1.256 billion from $651.6 million a year earlier. See full story.
Qwest Communications International (Q: news, chart, profile) raised its takeover offer for MCI Inc. (MCIP: news, chart, profile) to $30 a share, or $97 billion, once again raising the stakes in its struggle to wrest the long-distance provider away from larger rival Verizon communications Inc. (VZ: news, chart, profile) See full story.
Friday's watch list
Callaway Golf (ELY: news, chart, profile) said its first-quarter profit was cut in half as demand for its popular drivers and fairways woods sharply declined. The Carlsbad, Calif.-based company posted a profit of $18.4 million, or 27 cents a share, down from $40.5 million, or 59 cents a share, a year ago. See full story.
DoubleClick Inc. (DCLK: news, chart, profile) said it swung to a quarterly loss even as sales rose 12%, with the advertisings technology company's operating expenses ballooning. The New York-based company reported a loss of $917,000, or 1 cent a share, compared with a profit of $7.7 million, or 5 cents a share a year ago. See full story.
Fiserv Inc. (FISV: news, chart, profile) said its first-quarter profit jumped to $139 million, or 71 cents a share, from $92.8 million, or 47 cents a share, a year earlier. Revenue for the period that ended March 31 increased to $973.1 million from $908.9 million a year earlier. See full story.
Eastman Kodak Co. (EK: news, chart, profile) is expected by analysts polled by Thomson First Call to post a first-quarter profit of 33 cents a share on revenue of $2.92 billion.
Gillette Co. (G: news, chart, profile) said it moved to quash a subpoena issued by the Massachusetts Secretary of Commonwealth requesting information related to its planned acquisition by Procter & Gamble Co. (PG: news, chart, profile) See full story.
Halliburton Co. (HAL: news, chart, profile) reported a first-quarter profit of $365 million, or 72 cents a share, but said its revenue fell 11% from last year's levels, in part attributed to less government work in the Mideast. See full story.
International Paper Co. (IP: news, chart, profile) is expected to post a first-quarter profit of 30 cents a share on revenue of $6.57 billion.
Lear Corp. (LEA: news, chart, profile) is expected to post a first-quarter profit of 3 cents a share on revenue of $4.28 billion.
Industrial components maker Leggett & Platt Inc. (LEG: news, chart, profile) delivered a 16% increase in first-quarter earnings, with higher sales and stable steel prices making the difference. The company had a net income of $72.8 million, or 37 cents a share, up from $62.8 million, or 32 cents a share, in the year-ago period. See full story.
Maytag Corp. (MYG: news, chart, profile) is expected to post a first-quarter profit of 20 cents a share on revenue of $1.18 billion.
Online video rental firm Netflix Inc. (NFLX: news, chart, profile) said that its first-quarter loss widened to $8.8 million, or 17 cents a share, on higher marketing expenses. Last year, the company posted a loss of $5.8 million, or 11 cents a share. See full story.
Yellow Roadway Corp. (YELL: news, chart, profile) said its first-quarter earnings rose to $49.9 million, or 96 cents a share, more than twice the $18.2 million, or 38 cents a share, earned in the year-ago period. See full story.
