BRIEFCASE.Byline: - Staff and Wire Services Countrywide Q3 earnings up 27% CALABASAS - Countrywide Financial Countrywide Financial Corporation (NYSE: CFC) is a diversified financial marketing and service holding company engaged primarily in residential mortgage banking and related businesses. Corp.'s third-quarter earnings rose 27 percent from a year ago as the mortgage company's loan-servicing portfolio fended off narrower lending spreads and helped offset insurance losses. Countrywide earned $633.9 million, or $1.03 a share, in the quarter, compared with $498.1 million, or 81 cents a share, a year ago. The latest quarter had a charge of 19 cents a share, primarily related to losses in its insurance unit caused by Hurricane Katrina. Analysts had been forecasting earnings of $1.04 a share in the quarter. Countrywide's revenue, which includes profits earned from the sale of loans and securities, net interest income and money collected for administering existing mortgages, rose 29 percent from a year ago to $2.71 billion. Hilton Hotels post Q3 income hike BEVERLY HILLS - Hilton Hotels Corp. reported Thursday third quarter net income of $89 million, or 22 cents per diluted share, compared to $61 million, or 15 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 year-ago period. The company reported that strong increases in both room nights and rate across the business transient, group and leisure segments resulted in many of the company's owned hotels showing double-digit revenue-per-available-room gains in the quarter. For the nine-month period ended Sept. 30, Hilton reported net income of $355 million, compared to $173 million in the 2004 period. The company provided an updated estimate of diluted earnings per share diluted earnings per share An earnings measure calculated by dividing net income less preferred stock dividends for a period by the average number of shares of common stock that would be outstanding if all convertible securities were converted into shares of in the $1.05 range for full-year 2005, and a preliminary estimate of 97 cents to $1.03 for full-year 2006. The company estimated that the full-year impact of Hurricane Katrina from its previously issued guidance is 2 cents per share. Free fix offered for faulty cameras SAN JOSE - Electronics companies are offering free repairs for more than 80 models of digital cameras and camcorders that may contain a faulty imaging chip. The defect, affecting mostly older model products, occurs under hot and humid conditions and leads to either distorted or blank images on the viewfinder The preview window on a camera that is used to frame, focus and take the picture. On analog cameras, the viewfinder is an eye-sized window that must be pressed against the face. Point-and-shoot digital cameras use small LCD screens that are viewed several inches from the eyes. or liquid-crystal display, the companies say. The defective chip, made by Sony Corp. between October 2002 and March 2004, was used in an unknown number of cameras, camcorders and handheld computers. Camera makers and industry analysts say the problem has surfaced in a limited number of cases. Models affected include those made by Sony, Canon Inc., Nikon Corp., Olympus Corp., Ricoh Co., Fuji Photo Film Co., and Konica Minolta Holdings Inc. XM Radio costs up for programs NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - XM Satellite Radio Holdings Inc., the larger of the nation's two satellite-radio broadcasters, posted a wider loss in the third quarter Thursday due to higher programming and marketing costs even as revenue rose and subscribers more than doubled from a year ago. The company had a net loss of $134 million, or 60 cents per share, compared with $120.1 million, or 59 cents per share, the year before. Analysts surveyed by 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 expected a loss of 66 cents per share. XM's stock took a hit, however, declining $3.14, or 10 percent, to close at $28.07 Thursday on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. . The stock is down 24 percent so far this year. Word of subpoena subpoena (səpē`nə) [Lat.,=under penalty], in law, an order to a witness to appear before a court. A subpoena ad testificandum [Lat. lowers GM shares DETROIT - General Motors Corp. shares fell almost 7 percent late Thursday, the day after the company said it received a Securities and Exchange Commission subpoena for documents about its dealings with parts maker Delphi Corp. and other matters. GM, the world's largest automaker, announced the SEC actions in a public filing Wednesday. GM shares fell $1.98, or 6.8 percent, to close at $27.19 Thursday on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . The stock has traded between $24.67 and $40.82 over the past year. Growth props up Aetna, PacifiCare HARTFORD, Conn. - Membership growth at two health insurers boosted third-quarter earnings for Aetna Inc. and PacifiCare Health Systems PacifiCare Health Systems (former NYSE: PHS) was a Fortune 500 healthcare company based in Cypress, California. It was acquired by UnitedHealth Group (NYSE: UNH) in late 2005, which continues to market health plans under the PacifiCare name. Inc., the companies said Thursday. Los Angeles-based PacifiCare reported revenue of nearly $3.8 billion, up more than 21 percent from the third quarter of 2004. Its profit increased 34 percent in the latest period. Hartford-based Aetna posted operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. of $1.19 per share, up from 88 cents a year earlier. Revenue was $5.7 billion, an increase from $5 billion. On that basis, the results beat expectations by analysts at Thomson Financial, who predicted earnings of $1.17 a share on revenue of $5.58 billion. Aetna's net income fell to $377.8 million, or $1.26 a share, from $1.29 billion, or $4.10 per share, a year ago. The 2004 earnings included a tax refund Tax refund Money back from the government when too much tax has been paid or withheld from a salary. of about $740 million and favorable tax reserve adjustments of $250 million related to discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. . |
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