AP Financial News Summary at 8:32 a.m. EST
Pfizer 4Q Profit Slips As Revenue Falls
%mlink(STRY:v0163; PHOTO:; AUDIO:%)
NEW YORK (AP) _ Pfizer Inc., the world’s biggest drugmaker, said Thursday that fourth-quarter profit fell about 3 percent as sales retreated from year-ago levels, but the company beat Wall Street estimates after excluding one-time charges.
Home Depot Rolls Out Bold Five-Year Plan
%mlink(STRY:v0138; PHOTO:; AUDIO:%)
ATLANTA (AP) _ The Home Depot Inc. rolled out a bold five-year plan Thursday that projects compounded earnings-per-share growth of up to 14 percent over that period as the company continues to pump more cash into its business serving professional contractors, but slows the rate at which it opens new stores.
Stocks Set to Open Up on Tokyo Rebound
%mlink(STRY:v0176; PHOTO:NYRD103-0118061105; AUDIO:%)
LONDON (AP) _ U.S. stock market futures edged higher Thursday, with some possible mergers-and-acquisition activity and a rebound in the Tokyo stock market calming investors. The move came as investors prepare to digest an earnings report from Pfizer Inc., in which the drugmaker is expected to report a 27 percent profit decline on generic competition and slowing sales of its best-selling cholesterol drug.
Report: Disney in Talks to Buy Pixar
%mlink(STRY:v0168; PHOTO:; AUDIO:%)
NEW YORK (AP) _ The Walt Disney Co. is in serious talks to buy Pixar Animation Studios Inc., the maker of the hit movies ``Toy Story″ and ``Finding Nemo″ among others, following months of exploring how to continue their profitable film distribution partnership, The Wall Street Journal reported Thursday.
Merrill Lynch Profit Up on Trading Revenue
%mlink(STRY:v0155; PHOTO:; AUDIO:%)
NEW YORK (AP) _ Wall Street brokerage Merrill Lynch & Co. said Thursday its fourth-quarter profit jumped 25 percent, citing stronger trading revenue. The company also reported record full-year net earnings.
IPod Revenue Boosts Apple 1Q Net Income
%mlink(STRY:v0056; PHOTO:NYBZ107-0913052002; AUDIO:%)
SAN JOSE, Calif. (AP) _ Apple Computer Inc.’s record-breaking first quarter easily topped Wall Street targets, but a soft forecast amid high expectations disappointed investors. Apple shares slid more than 3 percent, down $2.71, in late-session activity, after the report was released Wednesday.
Unitedhealth 4Q Profit Jumps 18 Percent
%mlink(STRY:v0086; PHOTO:; AUDIO:%)
MINNEAPOLIS (AP) _ UnitedHealth Group Inc., the nation’s second-largest health insurer, on Thursday said fourth-quarter profit rose nearly 18 percent as revenue rose 15 percent and it added 3.6 million new customers. The company also raised its full-year guidance.
Wachovia 4Q Profit Grows on Fee Income
%mlink(STRY:v0132; PHOTO:; AUDIO:%)
CHARLOTTE, N.C. (AP) _ Wachovia Corp., the fourth-largest bank in the United States, said Thursday its fourth-quarter profit jumped 18 percent, supported by higher loans and deposits and increased fee income.
D.R. Horton’s 1Q Profit Climbs on Sales
%mlink(STRY:v0145; PHOTO:; AUDIO:%)
FORT WORTH, Texas (AP) _ D.R. Horton Inc., the nation’s largest homebuilder, on Thursday reported its first-quarter profit grew 29 percent on improved sales and margins, and boosted its fiscal-year earnings guidance.
Harley-Davidson Fourth-Quarter Profit Up
%mlink(STRY:v0124; PHOTO:; AUDIO:%)
MILWAUKEE (AP) _ Motorcycle maker Harley-Davidson Inc. reported Thursday that fourth-quarter profit rose 10 percent as the company benefited from higher sales overseas, pushing its results above Wall Street expectations.