P&G; Air France; Societe Generale; ADM; DR Horton
P&G, worlds largest consumer products company, Q4 net income +33%; sales +3%; currency gains vs dollar +6%;
price increases countered record costs for oil used in plastic packaging and pulp for paper products.
P&G said last month it plans to raise prices again in September on fabric, hair care, bar soaps and shaving products by as much as 16%.
Air France-KLM, Europes largest airline, despite +3.7% traffice & sales 5.8% on higher fares, net income -60%; income forecast -30%.
Hedging 40% of fuel needs at $60 per barrel & +14% currency effect overcame a 30% increase in fuel costs.
Societe Generale, #2 bank in France, Q2 net income -63%; asset mgmt net income -52% consumer banking -11%; $900 million in sub prime writedowns.
Still at risk: $3 billion in MBS; $2.25 billion in commercial mortgage bonds; holding net $4.5 billion MBS CDO.
ADM, worlds largest grain processor, Q4 net income -61%; ag services profit -57%; corn ethanol +15%.
Citigroup analyst David Driscoll: "Business conditions are likely to become more difficult for Archer Daniels Midland during the September quarter...
as the higher corn prices associated with the June flooding across the Midwest are likely to begin rolling through the portfolio in full force."
DR Horton, largest US homebuilder, 5th straight quarterly loss, Q3 -$400 vs -$824 million; revenue -44%; new orders -36%
CEO Donald Tomnitz: "We're continuing to cut at all levels. Nothing is sacrosanct."
Morgan Stanley's Penny Butcher: "It does appear that the second-half outlook for airlines has deteriorated."
price increases countered record costs for oil used in plastic packaging and pulp for paper products.
P&G said last month it plans to raise prices again in September on fabric, hair care, bar soaps and shaving products by as much as 16%.
Air France-KLM, Europes largest airline, despite +3.7% traffice & sales 5.8% on higher fares, net income -60%; income forecast -30%.
Hedging 40% of fuel needs at $60 per barrel & +14% currency effect overcame a 30% increase in fuel costs.
Societe Generale, #2 bank in France, Q2 net income -63%; asset mgmt net income -52% consumer banking -11%; $900 million in sub prime writedowns.
Still at risk: $3 billion in MBS; $2.25 billion in commercial mortgage bonds; holding net $4.5 billion MBS CDO.
ADM, worlds largest grain processor, Q4 net income -61%; ag services profit -57%; corn ethanol +15%.
Citigroup analyst David Driscoll: "Business conditions are likely to become more difficult for Archer Daniels Midland during the September quarter...
as the higher corn prices associated with the June flooding across the Midwest are likely to begin rolling through the portfolio in full force."
DR Horton, largest US homebuilder, 5th straight quarterly loss, Q3 -$400 vs -$824 million; revenue -44%; new orders -36%
CEO Donald Tomnitz: "We're continuing to cut at all levels. Nothing is sacrosanct."
Morgan Stanley's Penny Butcher: "It does appear that the second-half outlook for airlines has deteriorated."
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