U.S. Morning Call: Samsung to see 5th straight record profit
Tuesday, January 08, 2013 - 03:43
Jan 8 - Samsung Electronics, the world leader in mobiles and memory chips, said it likely earned a quarterly profit of $8.3 billion.
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Here's your morning call for Tuesday after fourth straight record quarters. Samsung projecting another record profit eight point three billion dollars in the quarter and last month. The reason both sales and high demand for its mobile flat screens including those that makes for its biggest customer and biggest rival apple. Samsung's galaxy phones mostly powering earnings. The South Korean company rolling out 37 variance well apple released just what -- Smartphones last year at the iPhone 5. Despite the huge fourth quarter projections the January to march period could yield less fruitful results for Samsung didn't weaker seasonal demand. The stock at a great 2012 rising over 40%. And hit record levels last week. Today shares closed down one point 3%. In just a story from the New York Times today AIG which recently paid off its 182. Billion dollar bail out. May now bite the hand that -- it. The board of AIG meets on Wednesday to consider joining 825 billion dollar shareholder lawsuit against the government. -- born in 2011 by Maurice Hank Greenberg AIG's former chief executive who remains a major investor. The lawsuit argues the deal's high interest rates and the funneling billions to AIG's wants to clients. Deprive shareholders -- tens of billions of dollars. The decision to join a lawsuit is a tricky one. It Greenberg land -- major settlement without AIG the company could face additional lawsuits from other shareholders. On the other hand siding with Greenberg would almost certainly be seen as a -- of gratitude. That could threaten ties with Washington. Wonder -- will have to pull that TV ads thanking the US government reports how. US stock futures pointing to a lower open on Wall Street just as another earnings season kicks off Alcoa and Monsanto reporting after the bell. For all color analyst Paul -- -- -- a positive predicted surprise at 3.4 percent earnings per share of six cents. The company which posted a meager profit in the third quarter missed some challenges and the prices remain low and the global economy week. Let's turn to young brands which reports early February they can't keep parent -- net sales in its top market China shrank more than expected in the fourth quarter. It's -- bad publicity from the government review of its chicken supply. Shares of young down 4% to 64 box in the premarket. CEOs played musical chairs at a couple of different companies. The sky's the limit for American Airlines executive Craig Craig or he'll be the next CEO of Virgin Atlantic. This is the British carrier looks to make the success of the venture with US partner Delta Airlines. And it's seniors Eddie Lambert taking on more responsibility is. -- in the role of CEO in addition to his current chairman post after chief executive Louis to have Brosius and be stepping down to it family health reasons. Your stock had its ups and downs under -- Reggio. When he took over in February 2011 shares were trading close to 76 dollars an hour 42 based on Monday's close. Lambert has long been seen as the fourth -- seniors but the minute -- at the hedge fund billionaire formally in charge of the retailer. That's it for your Tuesday morning cough follow us on Twitter at Reuters Insider in check and partly due to channel. At Reuters dot com slash TV. I'm Lisa Bernhard this is like.
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