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Ford Motor Credit to Cut 2,000 Positions


From Standard & Poor's Equity Research

Ford Motor (F) Says its Ford Motor Credit Company will restructure its North American operations and reduce global costs. It will include salaried personnel reductions of about 2,000 positions.

Sony (SNE) Dell ups a number of recalled batteries from 4.1 million units to about 4.2 million. Lenova and IBM also announce the recall of Sony batteries. Yesterday Sony said it will initiate a global replacement program for certain battery packs.

Research In Motion (RIMM) Posts $0.74 vs. $0.56 second quarter GAAP EPS on a 7.4% revenue rise. Sees $780 million to $820 million third quarter revenue and $0.88-$0.95 GAAP EPS.

J. Crew Group (JCG) Says Emily Scott, Thomas Scott, and Bridget Ryan Berman are to step down from the Board of Directors.

Imclone Systems (IMCL) Says CFO Michael Howerton decided to leave the company. Names Ana Stancic Sr. VP, Finance. Imclone chairman says the company is disappointed Carl Icahn is trying to seize control of the company without paying a control premium to all Imclone shareholders.

Affiliated Computer Services (ACS) Says it is not in a position to file its annual report on Form 10-K for fiscal year 2006, which was due today as set by the additional time period permitted under SEC rules, due to an ongoing internal investigation into stock option practices.

Accenture (ACN) Posts $0.56 vs. $0.38 fourth quarter GAAP EPS on slightly higher revenue. It sees fiscal year 2007 revenue growth of 9%-12% and GAAP EPS of $1.77-$1.82.


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