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LOS ANGELES (Dow Jones) -- Microsoft Corp.'s stock rallied 4.5% on Friday after the company said its quarterly profit dropped 24% as higher expenses and legal charges hurt its bottom line, but revenue rose more than expected on stronger sales of server software and Xbox 360 video-game consoles. Microsoft (MSFT) also issued late Thursday an upbeat financial forecast for the coming fiscal year and  ...

SAN FRANCISCO (Dow Jones) -- Halliburton Co. reported late Thursday a 51% increase in its second-quarter profit, with a sharp rise in oilfield services revenue more than offsetting a loss for its KBR subsidiary caused by a decline in U.S. Defense Department contracts in the Middle East and costly delays on a big natural gas project in Nigeria. But the results fell short of what investors had be ...

SAN FRANCISCO (Dow Jones) -- Pinnacle West Capital Corp., owner of Arizona's biggest public utility, turned in a sharply higher second-quarter profit Friday, capitalizing on customer growth and unusually warm weather across its service territory. Phoenix-based Pinnacle West (PNW) said quarterly net income rose to $112.2 million, or $1.13 a share, from $26.7 million, or 28 cents, earned in the sam ...

SAN FRANCISCO (Dow Jones) -- Investors dumped chip stocks Friday following the latest quarterly results reported by Broadcom Corp., Advanced Micro Devices Inc. and PMC-Sierra Inc., whose shares all sunk to their lowest levels in roughly a year. Most semiconductor companies this week reported higher quarterly sales and profit over last year's period, but soft sales forecasts, pricing pressure in ...

U.S. stocks fell Friday, with a profit warning from Dell Inc. putting the Nasdaq Composite on track for a third week of losses, in a market that is becoming increasingly worried about slowing economic growth even as confidence is rising that the Federal Reserve will stop raising interest rates soon. The Dow Jones Industrial Average (DJI) fell 63 points to 10,863. In the last two sessions, the b ...

By Paul Thomasch NEW YORK (Reuters) - Dell Inc. (DELL.O: Quote, Profile, Research) slashed its outlook on Friday, warning that quarterly earnings would fall about 30 percent short of forecasts due to a slowdown in the computer market, driving its stock to nearly five-year lows. Shares of Dell dropped as much as 14 percent after the world's largest personal computer maker issued the warning, pul ...

By Adam Pasick LONDON (Reuters) - Mobile phone giant Vodafone Group (VOD.L: Quote, Profile, Research) faced a potentially widespread shareholder revolt after one of its biggest investors said on Friday it would vote against the re-election of Chief Executive Arun Sarin. Morley Fund Management, whose 2.1 percent stake makes it one of Vodafone's 10 largest investors, plans to vote against Sarin and a number of other directors at the company's AGM on Tuesday. A spokeswoman for the fund declined  ...

SAN FRANCISCO (Dow Jones) -- Dell Inc. on Friday issued a profit and sales forecast for the current quarter that lagged Wall Street expectations, hurt by aggressive pricing amid weak demand, sending the company's stock down as much as 12% in early trading to near-five year lows. Shares of the No. 1 PC maker (DELL) gave up $2.70 to fall to $19.35--their lowest price since October 2001 - after th ...

U.S. stock losses mounted Friday as a profit warning from Dell Inc., due to weaker global demand for personal computers, spooked a market already worried about slowing economic growth. The Dow Jones Industrial Average (DJI) fell 81 points to 10,845. In the last two sessions, the benchmark index has lost more than two-thirds of 200-point plus rally logged on Wednesday. The Nasdaq Composite In ...

SAN FRANCISCO (Dow Jones) -- Schlumberger Ltd. reported Friday a 79% leap in second-quarter profit, fueled by soaring energy prices and strong global demand for its oil field services that far offset a slowdown in some of its North American business. Schlumberger (SLB) said that its second-quarter net income rose to $857 million, or 69 cents a share, compared to $482 million, or 40 cents a shar ...