Earnings roundup: Reynolds American, Goodyear
Earnings roundup: Reynolds American profit slumps, Europe business dings Goodyear outlook
Among the earnings stories for Tuesday, Feb. 12, from The Associated Press:
Top stories:
— Reynolds American, the nation's second-biggest tobacco company, says fourth-quarter profit fell 54 percent on pension and trademark-related charges and other costs. Consumers bought more smokeless tobacco brands while cigarette volumes dropped.
— Goodyear easily topped Wall Street expectations for the fourth quarter, but shares slid with Europe dragging down the tire maker's outlook for 2013.
Other stories:
— Avon, a direct seller of beauty products including Skin So Soft lotion and mark cosmetics, posted a wider fourth-quarter loss as it marked down the value of its Silpada jewelry business and paid restructuring costs.
— Luxury clothing and accessories seller Michael Kors' profit rose fourfold during its holiday quarter.
— Advertising agency Omnicom Group's net income rose 12 percent in the fourth quarter as U.S. revenue increased and overseas revenue edged slightly lower.
— Pretzel maker Snyder's-Lance Inc. said its fiscal fourth-quarter net income dropped 65 percent, hurt in part by increased impairment charges. Its adjusted results beat Wall Street's view.
