Micron Technology ( MU) posted a first-quarter loss of $187 million, or 19 cents a share, on revenue of $2.09 billion amid continued declines in pricing for dynamic random-access memory products.. Analysts were expecting a loss of 8 cents a share on revenue of $2.13 billion.
Bed Bath & Beyond ( BBBY), the specialty retailer, beat Wall Street's earnings third-quarter expectations, but came in slightly below expectations on the top line. The company posted third-quarter profit of $228.5 million, or 95 cents a share, on sales of $2.34 billion. Same-store sales rose 4.1%. Analysts were expecting earnings of 88 cents a share on revenue of $2.35 billion. Bed Bath & Beyond also said it expects earnings of $1.28 to $1.33 in the fiscal fourth quarter ending in February and $3.86 to $3.92 a share for the full year. Analysts estimate fourth-quarter profit of $1.30 a share.
Toyota ( TM) is targeting record global sales of 8.48 million vehicles in 2012 and 8.95 million vehicles in 2013, as the automaker bounces back from the March earthquake and tsunami in Japan that crimped production. Toyota, Japan's No. 1 automaker, fell behind General Motors ( GM) and Volkswagen as the top global car seller in the first half of the year. Toyota said Thursday global vehicle sales for this year totaled 7.9 million vehicles, down 6% from the previous year.
Bank of America ( BAC) will pay $335 million to settle U.S. Department of Justice charges that alleged discriminatory lending practices by its Countrywide Financial unit. The settlement, announced Wednesday, will be the largest residential fair lending settlement in history and will compensate thousands of African-American and Hispanic borrowers who were victims of the alleged discriminatory practice.
American Greetings ( AM) is expected Thursday by analysts to post fiscal-third-quarter earnings of 81 cents a share on revenue of about $440 million.
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