Archive: April 19, 2009 - April 25, 2009

Marriott, Host Shares Gain on Earnings Report

Marriott International shares gained more than 12 percent today, closing at $22. Though it reported a first-quarter loss, adjusted earnings beat the Street's expectations, so its stock rose. But not as much as those of Host Hotels & Resorts, also based in Bethesda, whose shares gained almost 17 percent...

By Terri Rupar | April 23, 2009; 4:59 PM ET | Comments (1)

Rockville Firm's Malaria Vaccine Moves to Trials

UPDATED, 3:40 P.M., with comments from Dr. Anthony Fauci of the National Institutes of Health. A Washington area biotech said today that it won approval to test its malaria vaccine in healthy adults. The vaccine, by Rockville-based Sanaria, is different than most, being made with a live, but weakened, malaria...

By Terri Rupar | April 23, 2009; 12:17 PM ET | Comments (0)

NII Profit Slides, but Shares Up

NII Holdings' profit slid 34 percent in the first quarter, but its shares are still trading up about 8.5 percent this morning as it beat analysts' estimates. Profit fell 33.9 percent, to $70.6 million (43 cents a share) from $106.8 million (62 cents), while revenue dropped just 3 percent, to...

By Terri Rupar | April 23, 2009; 11:29 AM ET | Comments (0)

Sallie's First-Quarter Loss Narrowed

Sallie Mae reported a narrower loss of $21.1 million for the first three months of the year as the nation's largest student lender continued to struggle in the midst of the ongoing credit crunch and economic downturn. Sallie, formally known as SLM Corp., makes both private student loans and those...

By Terri Rupar | April 22, 2009; 6:08 PM ET | Comments (1)

FBR Reports First-Quarter Loss, Revenue Drop

FBR Capital Markets' first-quarter loss widened to $16.2 million (27 cents a share) from $10.2 million (16 cents) in the comparable period a year earlier. Revenue fell by more than half, to $49.9 million from $104.1 million. Revenue in its investment-banking unit took a tumble, falling to $7.9 million from...

By Terri Rupar | April 22, 2009; 9:03 AM ET | Comments (1)

Early Briefing: Hotel Industry Expects Difficult Year

The hotel industry expects another difficult year as loans come due and occupancy rates drop, but the Washington area is expected to bear up somewhat better than other parts of the country. At a meeting of hotel investors in Washington yesterday, industry researchers said they expect to see an increase...

By Terri Rupar | April 22, 2009; 7:30 AM ET | Comments (0)

Sandy Spring Profit Falls 88 Percent

The parent company of Sandy Spring Bank in Olney saw its profit plummet nearly 90 percent in the first quarter as non-performing loans added up and the company set aside cash for potential losses on its residential development loan portfolio. Sandy Spring Bancorp is one of the largest banking companies...

By Terri Rupar | April 21, 2009; 12:21 PM ET | Comments (0)

NVR Posts First-Quarter Profit

Home-building giant NVR, bouncing back from a 2008 fourth-quarter loss, posted a profit for the first three months of 2009, showing resiliency in the face of one of the nation's worst housing markets. The Reston-based company said profit for the quarter ended March 31, was $18 million, or $3.02 per...

By Terri Rupar | April 21, 2009; 11:28 AM ET | Comments (0)

Lockheed Profit Down 8.8 Percent

Lockheed Martin said today that first-quarter profit fell 8.8 percent, to $666 million, as a pension adjustment decreased earnings. Revenue rose 3.9 percent, to $10.37 billion. Chief executive Bob Stevens called it "a solid start" to 2009. The contractor also updated its 2009 guidance, saying it expects profit to be...

By Terri Rupar | April 21, 2009; 10:46 AM ET | Comments (0)

Early Briefing: Ready to Watch TV on Your Phone?

Washington area residents could soon get "American Idol" and "30 Rock" on the go through a pilot program to bring free mobile digital television to cellphones and other wireless devices, Cecilia Kang reports. But seeing "Oprah" on the commute home comes with a caveat: Currently, no commercial mobile devices are...

By Terri Rupar | April 21, 2009; 7:30 AM ET | Comments (0)

Value Added: The Entrepreneur's Final Four

Tom Heath's "Value Added" column has moved here on Sundays but he sent us this account of a recent business competition at the George Washington University School of Business. I spent my morning this past Saturday watching the Final Four. Not that Final Four. But the Final Four of...

By Dan Beyers | April 20, 2009; 7:23 PM ET | Comments (4)

Early Briefing: Looking to Online Video

In the Download this week, Kim Hart looks at the rise of popularity in online video. More people with high-speed Internet connections and more content mean a better time for several Washington firms that have been trying to figure out how make money while making it even easier for people...

By Terri Rupar | April 20, 2009; 9:36 AM ET | Comments (0)

 
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