Economy, Earnings & Sales Reports | featured news

Whirlpool's net income fell a 76% as sales and margins dropped on falling appliance purchases and higher costs.

Nissan Motor Co. Monday said it has swung to a fiscal third quarter loss on a "severe downturn in the global economy" and the impact of a strengthened yen, adding the deterioration in business conditions forced the Japanese auto major to slash its full-year profit and revenue forecasts.

US department store chain Macy's is cutting 7,000 jobs as it reduces costs against a backdrop of falling sales.

NEW YORK (Reuters) - Americans slowed their consumption of hard liquor last year, a trade group said on Friday, proving that spirits are not immune to a recession.

Gannett Co., the largest US newspaper publisher, said fourth-quarter profit fell 36 percent on faltering advertising sales and expenses to cut jobs.

Hit by falling oil prices, Exxon Mobil reported a 33% drop in quarterly profit Friday, but its annual profit of $45.22 billion set a record for any U.S. company.

Kodak announced plans to cut between 3,500 and 4,500 jobs, or 14% to 18% of its work force, amid weak sales.

Siemens posted an 81% drop in first-quarter net profit compared with a year earlier when results were boosted by a multibillion euro gain from an asset sale.

An anemic ad market is expected to depress the Web portal's Q4 earnings.

Investors this week will face a large batch of company report cards, in what is shaping up to be the worst quarter for corporate profits in a decade, CNNMoney reports. Investors will also digest reports on housing, consumer confidence and leading economic indicators.