BRIEFCASE.Byline: - Staff and Wire Services Occidental posts 45 percent profit High oil and gas prices helped raise Occidental Petroleum Corp.'s first- quarter profit 45 percent, exceeding Wall Street expectations, the company said Tuesday. During the quarter, Occidental earned $1.23 billion, or $2.86 per share, on revenue of $4.57 billion. Wall Street's consensus estimates anticipated earnings of $2.74 a share and $3.93 billion in revenue, according to Thomson Financial Thomson Financial A major provider of information, analytical tools, and consulting services to the financial community. The firm, a division of Thomson Corporation, is best known to investors for its First Call segment, which publishes consensus earnings . Occidental's oil and gas sales during the most recent quarter surged 48 percent, to $3.3 billion, largely due to increased energy prices. Sales of chemicals rose 17 percent, to $1.24 billion. In the same period of 2005, Occidental's net income was $846 million, or 2.08 per share, with revenue of $3.3 billion. Northrop reports lower Q1 profits Defense contractor Northrop Grumman Corp. on Tuesday reported a lower first-quarter profit as revenue declined and gains from a stock sale boosted last year's results for the world's largest shipbuilder. The company also maintained its forecast for double-digit profit growth in 2006. Income slid to $358 million, or $1.02 per share, from $409 million, or $1.11 per share, the year before when the company gained $56 million from selling its Teldix aircraft parts unit and the sale of stock in TRW Automotive Holdings TRW Automotive Holdings NYSE: TRW is a supplier of automotive parts to manufacturers and aftermarket dealers. [1]. It was created out of a sell-off of parts of the former TRW corporation. Corp. Excluding last year's gains, earnings from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the were $357 million, or $1.02 per share, versus $398 million, or $1.08 per share, last year. Analysts surveyed by Thomson Financial were looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a profit of 99 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. in the latest quarter. Skype complete ringtone contract NEW YORK - Skype, eBay Inc.'s Internet telephone subsidiary, announced a deal Tuesday with music publishers that will make audio clips from such artists as Madonna, Green Day and the Red Hot Chili Peppers Red Hot Chili Peppers are an American alternative rock band formed in Los Angeles, California in 1983. For most of its career, the group has consisted of vocalist Anthony Kiedis, guitarist John Frusciante, bassist Michael "Flea" Balzary, and drummer Chad Smith. available to its users as ringtones. Clips from Madonna songs - including ``Like A Virgin'' and ``Vogue'' - will be available Wednesday for $1.50 each, with other artists to follow, Skype said. Luxembourg-based Skype signed license agreements with EMI (ElectroMagnetic Interference) An electrical disturbance in a system due to natural phenomena, low-frequency waves from electromechanical devices or high-frequency waves (RFI) from chips and other electronic devices. Allowable limits are governed by the FCC. Music Publishing, Sony/ATV Music Publishing, Warner/Chappell Music and the British association for author and publisher rights, the MCPS-PRS Alliance. Contention starts over tanker pact WASHINGTON - Opening a multibillion-dollar competition, the Air Force on Tuesday issued a request for information from companies that hope to build a new generation of aerial-refueling tankers. The request begins a competition that is likely to pit Boeing Co. against a team of Northrop Grumman Corp. and European Aeronautic aer·o·nau·tic also aer·o·nau·ti·cal adj. Of or relating to aeronautics. aer  o·nau Defence and Space Co., the majority owner of European jet maker Airbus SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. . A contract for the project, expected to be worth at least $20 billion, could be awarded as soon as next year. Chicago-based Boeing lost the tanker deal in 2004 amid revelations that it had hired a top Air Force acquisitions official who had given the company preferential treatment. |
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