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• Fujitsu fourth-quarter profit down, sees rebound (Reuters)

  Reuters - Japan's Fujitsu Ltd reported a 40 percent fall in quarterly profit on Monday, hurt by restructuring in its microchip operations, but it forecast that its annual profit would more than double this year on its IT outsourcing operations.

• Retailers likely to post grim 1st-quarter results (AP)

  AP - After slashing inventory and cutting expenses, the retail industry is still bracing for the largest overall quarterly profit decline in at least nine years when merchants report their first-quarter earnings this week.

• Asset sales boost Clear Channel profit; Deal still in limbo (AP)

  AP - Clear Channel Communications Inc., a major radio and outdoor advertising company, reported higher first-quarter earnings Friday on asset sales but operating results were flat, reflecting weak demand for radio advertising.

• Auto parts supplier Delphi reports wider loss (AP)

  AP - Auto parts maker Delphi Corp. reported on Friday that it lost more money in the first quarter than it did a year ago, but that an increased credit line will still allow it to emerge from bankruptcy protection intact.

• Clarification: Activision earnings story (AP)

  AP - In a May 8 story about Activision Inc.'s earnings, The Associated Press reported that the company expected earnings of $1.30 per share after excluding Vivendi Games. The story should have said the adjusted earnings excluded other items as well.

• Clear Channel posts weaker-than-expected profit (Reuters)

  Reuters - Clear Channel Communications Inc posted a weaker-than-expected quarterly profit on Friday and the U.S. radio station operator said it was unclear whether a proposed buyout would be completed.

• German insurer Allianz 1Q net profit falls 65 percent (AP)

  AP - German insurer Allianz SE said Friday first-quarter net profit fell 65 percent due to difficult market conditions as it wrote down $1.3 billion tied to the U.S. subprime crisis.

• Japan Airlines reduces losses in latest quarter (AP)

  AP - Japan Airlines reduced losses in the January-March quarter from a year earlier on cost cuts but forecast lower profit Friday for this fiscal year, blaming soaring fuel costs and intense competition.

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