Headline News: Earnings

• Dish Network's 1Q profit up 65 pct amid slowdown (AP)
  AP - Dish Network Corp. said Monday its first-quarter net income rose 65 percent even though new subscriber growth of its satellite television service plunged on the languishing economy and stiffer competition.
  
• MBIA posts huge loss on credit derivatives (Reuters)
  

  Reuters - MBIA Inc , the world's largest bond insurer, posted a quarterly loss of $2.4 billion on Monday as it took charges on billions of dollars of exposure to bonds linked to subprime mortgages.

  
  
  
• Sprint Nextel 1Q deficit widens, fewer subscribers (AP)
  AP - Sprint Nextel Corp.'s Dan Hesse had little good news to share Monday on the eve of addressing his first shareholder meeting as chief executive of the troubled wireless carrier.
  
• XM Sat 1Q loss widens despite revenue jump (AP)
  

  AP - XM Satellite Radio Holdings Inc. said Monday its first-quarter loss widened by nearly 6 percent even as revenue jumped 17 percent.

  
  
  
• IndyMac Bancorp swings to 1st-qtr loss, sees 2008 loss (AP)
  AP - IndyMac Bancorp Inc. swung to a loss in the first quarter as deteriorating credit markets forced the mortgage lender to lower the value of mortgage-backed securities, and warned Monday it would not post a profitable quarter in 2008.
  
• PMI Group swings to hefty 1Q loss on defaults (AP)
  AP - Mortgage insurer PMI Group Inc. said Monday it swung to a first-quarter loss from year-ago profit, due to hefty payouts on default claims and charges to write off its investment in bond insurer FGIC.
  
• MBIA slides to huge 1Q loss on hefty charges (AP)
  AP - MBIA Inc. swung to a $2.41 billion loss during the first quarter as the bond insurer faced ongoing deterioration in the credit markets and recorded billions in write-downs.
  
• Fujitsu quarterly profit down 40 percent (AP)
  AP - Japanese electronics maker Fujitsu on Monday reported nearly a 40 percent plunge in profit for the January-March quarter, largely on costs to restructure its computer chips operations.
  
• Fujitsu fourth-quarter profit down, sees rebound (Reuters)
  

  Reuters - Japan's Fujitsu Ltd reported a 40 percent fall in quarterly profit on Monday, hurt by restructuring in its microchip operations, but it forecast that its annual profit would more than double this year on its IT outsourcing operations.

  
  
  
• Retailers likely to post grim 1st-quarter results (AP)
  

  AP - After slashing inventory and cutting expenses, the retail industry is still bracing for the largest overall quarterly profit decline in at least nine years when merchants report their first-quarter earnings this week.

  
  
  
• Asset sales boost Clear Channel profit; Deal still in limbo (AP)
  AP - Clear Channel Communications Inc., a major radio and outdoor advertising company, reported higher first-quarter earnings Friday on asset sales but operating results were flat, reflecting weak demand for radio advertising.
  
• Auto parts supplier Delphi reports wider loss (AP)
  AP - Auto parts maker Delphi Corp. reported on Friday that it lost more money in the first quarter than it did a year ago, but that an increased credit line will still allow it to emerge from bankruptcy protection intact.
  
• Clarification: Activision earnings story (AP)
  AP - In a May 8 story about Activision Inc.'s earnings, The Associated Press reported that the company expected earnings of $1.30 per share after excluding Vivendi Games. The story should have said the adjusted earnings excluded other items as well.
  
• Clear Channel posts weaker-than-expected profit (Reuters)
  

  Reuters - Clear Channel Communications Inc posted a weaker-than-expected quarterly profit on Friday and the U.S. radio station operator said it was unclear whether a proposed buyout would be completed.

  
  
  
• German insurer Allianz 1Q net profit falls 65 percent (AP)
  AP - German insurer Allianz SE said Friday first-quarter net profit fell 65 percent due to difficult market conditions as it wrote down $1.3 billion tied to the U.S. subprime crisis.
  
• Japan Airlines reduces losses in latest quarter (AP)
  

  AP - Japan Airlines reduced losses in the January-March quarter from a year earlier on cost cuts but forecast lower profit Friday for this fiscal year, blaming soaring fuel costs and intense competition.

  
  
  
• AIG posts 1Q loss of $7.8B, plans to raise $12.5B (AP)
  

  AP - American International Group Inc. says it will raise $12.5 billion in the coming months as the insurer looks to shore up a capital base that has been rocked by deterioration in the credit markets.

  
  
  
• "Guitar Hero" helps Activision rock Wall Street (Reuters)
  

  Reuters - Activision Inc posted a quarterly profit on Thursday that blew past expectations as demand for its "Guitar Hero 3" and "Call of Duty 4" video games made up for a complete lack of new releases.

  
  
  
• Wall Street Beat: Mixed Earnings, M&A News Hit IT (PC World)
  PC World - After a slow climb during the height of a generally positive earnings season, the IT-heavy Nasdaq hit turbulence this week...
  
• Warner Music Group 2Q loss widens on increased expenses (AP)
  AP - Warner Music Group Corp., whose artists include R.E.M., Madonna and Green Day, said Thursday that higher costs and a shift to digital music resulted in a wider second-quarter loss and it suspended dividends.