Earnings Roundup: Kraft Foods, Dolby Laboratories

Among the earnings stories for Tuesday, Nov. 3, from AP Financial News:

NORTHFIELD, Ill. (AP) — Kraft Foods said that slower sales, lower retail food prices and the comparison with a gain a year ago helped cut its third-quarter profit 40 percent, but the company raised its forecast for the year.

SAN FRANCISCO (AP) — Dolby Laboratories Inc. said its fiscal fourth-quarter profit fell nearly 9 percent, but still posted better-than-expected results.

SAN MATEO, Calif. (AP) — Trucking company Con-way Inc. said its third-quarter profit dropped by nearly two-thirds from a year ago as the recession further hurt demand. The company warned investors that near-term prospects earnings growth were slim.

SANDUSKY, Ohio (AP) — Amusement park operator Cedar Fair Entertainment Co. said that profit rose in the third quarter from a year-ago period hurt by charges, but weaker-than-expected revenue sent the company's shares tumbling 27 percent.

NEW YORK (AP) — The Hartford Financial Services Group posted a much narrower loss for the third quarter, as its investment losses shrank by more than half.

HOUSTON (AP) — Allis-Chalmers Energy Inc. said that it lost $10.3 million in the third quarter as the oilfield services provider dealt with a drop in rig count, falling equipment usage, and pricing.

NEW YORK (AP) — Polo Ralph Lauren Corp. said its fiscal second-quarter profit rose and topped Wall Street expectations, helped by increased market share and lower operating expenses.

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