Daily Briefing

daily briefing

April 30, 2009

FTI Consulting shares show gain

Shares of Baltimore's FTI Consulting rose nearly 9 percent Wednesday after a first-quarter earnings report that beat anaylsts' expectations. Earnings rose to $31.7 million for the quarter, or 60 cents per share, and there was a $1 million increase over the corresponding quarter last year. Revenue reached a record $347.8 million, a 13.3 percent increase over a year ago. The company, which offers forensic and litigation consulting as well as technology services, said business picked up in the first quarter in light of the financial crisis. FTI saw its clients grow across all sectors, including construction, gaming, health care, commercial real estate and government. The stock rose $4.37 Wednesday to close at $54.34.

Eileen Ambrose

Profit at Starbucks fell 77% in 2Q

NEW YORK : Starbucks Corp. said Wednesday that its fiscal second-quarter profit dropped 77 percent because of big restructuring charges related mainly to the closure of 123 U.S. cafes. Seattle-based Starbucks said that, for the quarter ended March 29, its net income fell to $25 million, or 3 cents per share, from $108.7 million, or 15 cents per share a year ago.

Associated Press

Visa profit up 71%, beating estimates

BOSTON : Visa Inc. said Wednesday its fiscal second-quarter profit rose nearly 71 percent, beating Wall Street expectations, as cost cuts helped offset tighter consumer spending. The world's largest electronic payment network reported net income for the three months ended March 31 of $536 million, or 71 cents per share. That's up from $314 million, or 39 cents per share, in the year-earlier quarter.

Associated Press

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