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Among the earnings stories for Wednesday, Nov. 5, from AP Financial Desk News:
Top stories:
NEW YORK (AP) — GMAC Financial Services says its third-quarter loss widened to $2.52 billion, pulled down by steep losses at its mortgage division.
MILWAUKEE (AP) — Sara Lee Corp. said Wednesday its fiscal first-quarter profit rose 15 percent as the maker of Hillshire Farm deli meat benefited from a weaker dollar and raised prices to help offset rising commodity costs.
Other stories:
CHARLOTTE, N.C. (AP) — Insurance brokerage Marsh & McLennan Cos. on Wednesday reported a third-quarter loss, reversing a year-ago profit when it got a boost from the sale of Putnam Investments.
NEW HYDE PARK, N.Y. (AP) — Shopping center owner Kimco Realty Corp. said Wednesday its third-quarter results rose nearly 21 percent, meeting Wall Street expectations, as the company skirted damage from the economic slowdown.
PORTLAND, Ore. (AP) — Blount International Inc., which makes outdoor equipment, said Wednesday third-quarter profit rose 56 percent, helped by higher sales of chainsaw-related products. The company also raised its sales guidance for the year.
THOROFARE, N.J. (AP) — Checkpoint Systems Inc., which provides merchandise security products and services for retailers, said Wednesday third-quarter earnings dropped 11 percent as demand in Europe and for its closed-circuit TV services slowed.
CLEVELAND (AP) — PolyOne Corp., which makes specialized plastics and resins for constructing buildings and vehicles, said Wednesday it swung to a loss in the third quarter as it recorded several one-time charges.
EL PASO, Texas (AP) — El Paso Electric Co. said Wednesday its third-quarter profit fell 8 percent, missing Wall Street expectations on reduced investment income and higher interest costs. It also narrowed its full-year earnings guidance.
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