Google; Cit Group
Google, #1 search engine, reported a 30% increase in Q1 profit with revenues +42%
after international expansion countered a slowdown in U.S. advertising spending. Shares up 17% afterhours, but down 35% this year.
CIT Group cut its dividend 60% and said the firm was unprofitable for a fourth straight quarter; Q1 loss $249.7 vs $208 million profit.
After failing to reduce losses on home and student loans CIT said it found buyers for more than $5 billion of assets and has money to meet obligations into 2009.
CIT is busy selling units and trying to raise $7 billion to quell concern about their solvency after drawing on $7.3 billion of emergency credit last month.
after international expansion countered a slowdown in U.S. advertising spending. Shares up 17% afterhours, but down 35% this year.
CIT Group cut its dividend 60% and said the firm was unprofitable for a fourth straight quarter; Q1 loss $249.7 vs $208 million profit.
After failing to reduce losses on home and student loans CIT said it found buyers for more than $5 billion of assets and has money to meet obligations into 2009.
CIT is busy selling units and trying to raise $7 billion to quell concern about their solvency after drawing on $7.3 billion of emergency credit last month.
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