Deutsche Bank's ( DB) CEO Josef Ackermann is being investigated by German prosecutors over his testimony in a civil suit brought against the bank by late German media magnate Leo Kirch. On Monday, the bank head warned that new bank regulations will cause European banks to less competitive globally and even trigger a bout of consolidation. Deutsche Bank shares were losing 2% to $38.96.
Warren Buffett's Berkshire Hathaway ( BRK.B) has bought a 5.5% stake in Dow component IBM ( IBM). IBM shares were up 0.9% to $189.08.
Walt Disney ( DIS) on Friday reported adjusted fourth-quarter profit of 59 cents a share, beating the average analyst estimate of 54 cents. While revenue at most divisions were up, Disney Studio's revenue fell 8% to $1.46 billion. Shares were down 0.8% at $36.40.
Lowe's ( LOW), the home-improvement retailer, earned $225 million, or 18 cents a share, in the third quarter, down 44% from $404 million, or 29 cents, a year earlier. On an adjusted basis, earnings in the quarter were 35 cents a share. The latest period included charges related to store closings and discontinued projects of 17 cents a share. Lowe's said sales rose 2.3% to $11.9 billion. Comparable-store sales in the third quarter rose 0.7%. Analysts were expecting Lowe's to earn 33 cents a share in the third quarter on sales of $11.69 billion. For the fiscal year, Lowe's said it expects total sales to increase 2% to 3%, with comparable-store sales declining by about 1%. Lowe's expects fiscal-year earnings of $1.37 to $1.40 a share, including charges of 20 cents a share. Shares were down 0.7% to $22.94.
Southwest Airlines' ( LUV) AirTran unit will terminate routes to five airports including Miami International and Washington's Dulles in 2012 due to higher fuel costs and lackluster demand. Shares were falling 0.5% at $8.17.
SORL Auto Parts ( SORL) reported third-quarter profit of 18 cents a share, in line with estimates. -- Written by Joseph Woelfel and Andrea Tse >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: email@example.com.