AP Financial News Summary at 9:58 a.m. EDT
Stocks Mixed, Dell Warning Rattles Techs
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NEW YORK (AP) _ Stocks were little changed in early trading Tuesday as Wall Street awaited news on interest rates, although a profit warning from Dell Inc. weighed on the Nasdaq composite index.
More Errors Found in Fannie Mae Accounting
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WASHINGTON (AP) _ Still more errors have turned up in Fannie Mae’s government-ordered review of its accounting, the mortgage giant disclosed Tuesday. It also said it doesn’t expect the review to be finished before the second half of the year.
Dynegy Narrows 1st-Quarter Loss
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HOUSTON (AP) _ Power producer Dynegy Inc. on Tuesday posted a slimmer first-quarter loss as revenue rose due to higher prices in the Midwest and Northeast. But it also forecast bigger losses for the year than previously expected.
Adidas Forecasts Double-Digit Earnings
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BERLIN (AP) _ Sports apparel maker Adidas-Salomon AG said Tuesday its net profit rose 37 percent in the first quarter, helped by strong sales, and forecast double-digit earnings and sales growth for the full year.
Will Film Spell Success for Starbucks?
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SEATTLE (AP) _ Any regular Starbucks customers have likely learned how to spell or define ``prestidigitation″ or some other tricky word they’d probably never heard of before.
Ex-Gemstar CEO Ordered to Pay $22 Million
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LOS ANGELES (AP) _ A federal judge on Monday ordered the former CEO of Gemstar-TV Guide International Inc. to pay $22.3 million in fines and penalties in an investment fraud case.
Oil Prices Steady Near $70 a Barrel
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VIENNA, Austria (AP) _ Crude-oil futures hovered around $70 a barrel Tuesday, with persistent concerns over Iran’s nuclear ambitions tempered by expectations of rising U.S. gasoline stocks.
Toyota President Steps Down Amid Lawsuit
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TOKYO (AP) _ The president and CEO of Toyota Motor North America, accused last week in a sexual harassment lawsuit, is leaving the post, the automaker said Tuesday.
Sara Lee Quarterly Profit Drops on Charges
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CHICAGO (AP) _ Sara Lee Corp., maker of products ranging from baked goods to Hanes underwear, on Tuesday said its fiscal third-quarter profit declined 78 percent, hurt by one-time charges.
Reinsurer Munich Re Boosts 1Q Net Profit
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BERLIN (AP) _ Munich Re AG, the world’s largest reinsurer, said Tuesday its first-quarter net profit rose 41 percent, helped by better performance from its primary insurance arm and core reinsurance business as well as lower costs.