Published: Saturday, November 3, 2007
Cardiac Science teams with NBA
Cardiac Science Corp. of Bothell, Minnesota Timberwolves forward Ryan Gomes and Parent Heart Watch will donate 12 Cardiac Science automated heart defibrillators in various cities during the new NBA season. The three said Friday they will donate the defibrillators to schools and recreation centers as Gomes and his team travel through cities throughout the season.
Chevron profits fall this quarter
Chevron Corp., the nation's second-largest oil company, said Friday its third-quarter profit fell more than Wall Street expected as tighter U.S. refining margins hurt earnings. Net income for the three months that ended Sept. 30 fell to $3.72 billion, or $1.75 per share, compared with $5.02 billion, or $2.29 per share, during the same period a year earlier. Analysts polled by Thomson Financial had been expecting earnings of $2.07 per share, on average. Chevron stock fell 56 cents Friday to finish at $88.48. The stock remains up 20 percent this year.
Berkshire profits climb 64 percent
Berkshire Hathaway Inc. reported a 64 percent jump in third-quarter profit Friday on strong investment gains. Berkshire said it earned $4.55 billion, or $2,942 per share, during the quarter that ended Sept. 30. That's up from last year's third-quarter net income of $2.77 billion, or $1,797 per share. Officials at Berkshire, which is led by billionaire Warren Buffett, typically do not comment on quarterly earnings reports.
Oil futures continue rise
Oil futures added to their gains late Friday when the British Foreign Office said the U.N. Security Council has agreed to draft a new sanctions resolution that could be passed in November if Iranian cooperation with the International Atomic Energy Agency does not improve. Investors worry that any conflict between the West and Iran would disrupt oil supplies from the Middle East.
Citigroup board to meet Sunday
Citigroup Inc.'s board plans an emergency meeting Sunday, and Chief Executive Charles Prince is expected to offer to resign, according to the Wall Street Journal. Citigroup spokesmen declined to comment on the report. Citigroup reported a 57 percent profit drop in the third quarter after taking billions of dollars in writedowns of debt tied up in the tight credit markets and in subprime mortgages, and the bank has been under tight scrutiny since then. Many investors expect Citigroup to take similar, perhaps even larger, losses in coming quarters. Analysts have downgraded Citigroup and other major financial institutions in recent days because of concerns about their debt and potential write-offs.
From Herald staff and news services
Chevron profits fall this quarter
Chevron Corp., the nation's second-largest oil company, said Friday its third-quarter profit fell more than Wall Street expected as tighter U.S. refining margins hurt earnings. Net income for the three months that ended Sept. 30 fell to $3.72 billion, or $1.75 per share, compared with $5.02 billion, or $2.29 per share, during the same period a year earlier. Analysts polled by Thomson Financial had been expecting earnings of $2.07 per share, on average. Chevron stock fell 56 cents Friday to finish at $88.48. The stock remains up 20 percent this year.
Berkshire profits climb 64 percent
Berkshire Hathaway Inc. reported a 64 percent jump in third-quarter profit Friday on strong investment gains. Berkshire said it earned $4.55 billion, or $2,942 per share, during the quarter that ended Sept. 30. That's up from last year's third-quarter net income of $2.77 billion, or $1,797 per share. Officials at Berkshire, which is led by billionaire Warren Buffett, typically do not comment on quarterly earnings reports.
Oil futures continue rise
Oil futures added to their gains late Friday when the British Foreign Office said the U.N. Security Council has agreed to draft a new sanctions resolution that could be passed in November if Iranian cooperation with the International Atomic Energy Agency does not improve. Investors worry that any conflict between the West and Iran would disrupt oil supplies from the Middle East.
Citigroup board to meet Sunday
Citigroup Inc.'s board plans an emergency meeting Sunday, and Chief Executive Charles Prince is expected to offer to resign, according to the Wall Street Journal. Citigroup spokesmen declined to comment on the report. Citigroup reported a 57 percent profit drop in the third quarter after taking billions of dollars in writedowns of debt tied up in the tight credit markets and in subprime mortgages, and the bank has been under tight scrutiny since then. Many investors expect Citigroup to take similar, perhaps even larger, losses in coming quarters. Analysts have downgraded Citigroup and other major financial institutions in recent days because of concerns about their debt and potential write-offs.
From Herald staff and news services
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