Earnings Roundup: Molson Coors, GMAC Financial
Among the earnings stories for Tuesday, May 5, from AP Financial News:
DENVER (AP) ¿ Molson Coors Brewing and SABMiller said the first-quarter profit for their U.S. joint venture MillerCoors rose 51 percent as sales of Coors Light, Miller Lite and other brands were helped by higher prices and fewer promotions.
NEW YORK (AP) ¿ GMAC Financial Services said its loss widened in the first quarter as the weak credit markets continued to weigh on its automotive financing and mortgage businesses.
PRINCETON, N.J. (AP) ¿ Church & Dwight Inc. said its first-quarter profit rose 11 percent as sales were boosted by its acquisition of beauty products maker Coty.BALTIMORE (AP) ¿ Utility company Constellation Energy Group Inc. posted a first-quarter net loss on several one-time losses, but reaffirmed its full-year earnings outlook. NEW YORK (AP) ¿ Marvel Entertainment Inc. reported first-quarter results above Wall Street estimates and raised its projections for the full year. CHARLESTON, W.Va. (AP) ¿ Foundation Coal Holdings blamed a larger than expected first quarter loss on lower coal shipments. BALTIMORE (AP) ¿ Legg Mason Inc. said its fiscal fourth-quarter loss widened as the asset manager eliminated exposure to risky investment products. But the company's results still beat analysts' expectations. NEW YORK (AP) ¿ MGM Mirage booked a first-quarter profit including a hefty gain from selling a hotel and casino, but its adjusted results missed expectations as companies continued to cancel conventions at its Las Vegas Strip resorts.
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