Among the earnings stories for Thursday, Feb. 28, from AP Financial News:
Top stories:
OVERLAND PARK, Kan. (AP) _ Sprint Nextel Corp. swung to a fourth-quarter loss of $29.5 billion on Thursday as it wrote down most of the remaining value of its 2005 purchase of Nextel Communications Inc. and continued to lose customers to competitors. Its shares tumbled more than 11 percent in premarket trading.
BERLIN (AP) _ Bayer AG said Thursday that its profit narrowed in the final three months of 2007 even as sales rose.
Other stories:
CARY, N.C. (AP) _ Phonebook publisher and search engine operator R.H. Donnelley Corp. said Thursday its fourth-quarter loss narrowed on a boost in sales and a tax benefit.
LONDON (AP) _ British American Tobacco PLC reported a 12 percent increase in its 2007 profit on Thursday and said it agreed to buy the cigarette business of Skandinavisk Tobakskompagni AS for about $3.9 billion, its second purchase in less than a week.
BRISTOL, Tenn. (AP) _ Drug company King Pharmaceuticals Inc. said Thursday its profit rose 16 percent on expense reductions in the fourth quarter, beating analyst expectations.
FRANKFURT, Germany (AP) _ Deutsche Telekom AG on Thursday posted a smaller loss in its fourth quarter and said that its business was stabilizing after many quarters of declines caused by an exodus of fixed-line customers.
FINDLAY, Ohio (AP) _ Tire maker Cooper Tire & Rubber Co. said Thursday it swung to a fourth-quarter profit, helped by better pricing, cost-saving efforts and one-time adjustments.
ELGIN, Ill. (AP) _ Middleby Corp., which sells foodservice and food processing equipment, said late Wednesday its fourth-quarter profit jumped 38 percent to beat analyst estimates, helped by recent acquisitions and higher sales.
NEW YORK (AP) _ Revlon Inc. said Thursday it swung to a fourth-quarter profit on cost control efforts and the absence of an early debt extinguishment loss that lowered earnings a year ago.
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