Switch to Desktop Site

Money Daily Brief: GE earnings drop

(Read article summary)

Kevin Dietsch/UPI

(Read caption) Bank of America CEO Kenneth Lewis testifies in June before a House Oversight and Government Reform Committee hearing on Bank of America's purchase of Merrill Lynch. Bank of America, Halliburton and General Electric all posted third quarter losses.

About these ads


•GE earnings down: Poor performance by the financial arm of General Electric led to a 43 percent drop in third quarter earnings to $2.4 billion. GE Capital posted a loss of 87 percent. Separately, Bank of America and Halliburton posted losses of $1 billion and $410 million, respectively.

Sony Ericsson posts losses: The European mobile phone joint venture saw a €164 million drop in third quarter profit due to slow sales. Still, Ericsson shares rose 2.25 percent on news that the company secured €455 million in financing.


Page:   1   |   2

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.