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Newspaper
The Chronicle Telegram
Location
Elyria, Ohio, United States of America
Date
Oct 18, 1995
Page
19
Ford Motor Co reports third quarter earnings down 68 percent to 357 million from 1.1 billion a year ago as auto sales fell 12 percent to 869,000 in the U.S. despite record 558 million in financial services profits.
General Motors reports a 16.4 percent rise in third quarter net profits to 642 million with sales of 37.4 billion. The auto unit posted a 93 million loss in North America, while overseas production earned 111 million. Subsidiaries Hughes Electronics Electronic Data Systems and GM Acceptance also posted records or gains. Analysts caution the recovery remains incomplete as margins stay around 5 percent and investments remain needed.
Time Warner Inc reports its third quarter loss of 144 million as music sales abroad fall and a charge to close a money losing mail music operation weighs on results. Revenue rises 6 percent to 4.3 billion due to the 1989 Time Inc Warner deal effects and high interest costs. Cooper Tire also trims earnings in third quarter
Rubbermaid Inc. reports third quarter earnings of 50.2 million dollars or 32 cents a share on 641 million dollars in sales, down from 66.7 million dollars or 41 cents a share on 980 million dollars in sales for the prior year’s third quarter. CEO Wolfgang R. Schmitt cites higher raw materials, sales and manufacturing costs as the reason.
Employees at the Oswego County Recycling plant in Volney New York sort newsprint for shipment to reprocessing plants. The Chicago Board of Trade began trading recycling futures Tuesday with Oswego's newsprint as the first transaction.
Reading of the day’s market page shows listed issues including Parker Hannifin Reliance Elect Royal Anphance Sherwin Williams Smuckers SIMA Sunrise Medical Texas Uplines T.RW USx Woolworth York International.
Banc One Corp reports third quarter results ending September 30 with record earnings of 331 million dollars or 83 cents per share up from 283.2 million or 68 cents a year earlier driven by loan growth and stronger affiliate results.
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