Walt Disney Company
The entertainment conglomerate said its fourth fiscal quarter profit fell 13% due to a bad debt charge on a receivable from Lehman Brothers and the combination of higher expenses and less successful films at its studio entertainment division.
Ford Motor Company
The struggling automaker reported a $3B operating loss in the latest quarter, said it would cut salaried employment costs by 10%, hourly workers with a buyout package, and capital spending, in order to preserve its dwindling cash.
Nvidia Corp
The maker of programmable graphics-processor technologies reported third-quarter net profit of $61.7M compared with a profit of $235.7M for the year-earlier period. Revenue was $897.7M down from $1.12B last year.
Wells Fargo & Company
The bank in the process of completing a $15B merger with Wachovia said it priced a $11B offering of 407.5M shares at $27 a share. The offering is expected to close around Nov. 13.