Updates, advisories and surprises

Date: Friday, October 16, 2009

Updates, advisories and surprises

A roundup of the latest corporate earnings reports and what companies
are saying about future quarters.

IBM REPORTS 14% EARNINGS GROWTH; RAISES OUTLOOK

IBM Corp. on Thursday reported a 14% increase in its third-quarter earnings,
and raised its profit outlook for the year, but the tech-sector bellwether's
shares fell in after-hours trading after it posted a decline in sales in some
of its largest business areas.

GOOGLE BEATS ESTIMATES; SHARES HIGHER IN PREMARKET

Google Inc. reported third-quarter gains in profit and sales that
topped Wall Street estimates, fulfilling expectations that the
Internet giant would start benefiting from increased spending on
online advertising.

BANK OF AMERICA POSTS $2.2 BILLION LOSS

B. of A. posts third-quarter loss of more than $2 billion.

LEWIS DEPARTURE MAKES PERFECT SENSE NOW

The announcement of Ken Lewis' departure from Bank of America Corp. a
couple of weeks ago surprised many, not for the decision, but for the
timing.