Summary Box: AT&T profit up 30 pct Wednesday, July 23, 2008 KEY RESULTS: Investors expected the weak economy to finally catch up to AT&T, and it did, but not as
British investor set to buy Mallorca soccer club Wednesday, July 23, 2008 PALMA DE MALLORCA, Balearic Islands (AP) Mallorca chairman Vicente Grande has reached a preliminary agreement to sell the Spanish
WellPoint 2Q profit drops but beats forecast Wednesday, July 23, 2008 INDIANAPOLIS (AP) Rising medical costs helped knock down the second-quarter profit for health insurer WellPoint Inc., but investors lifted
Oil dips as fuel supplies grow more than expected Wednesday, July 23, 2008 NEW YORK (AP) Oil prices resumed their slide Wednesday after the government reported U.S. gasoline supplies rose more than
Bank of America board approves buyback plan Wednesday, July 23, 2008 CHARLOTTE, N.C. (AP) Bank of America Corp. said its board approved a plan to repurchase up to 75 million
Nuke panel takes input on uranium expansion Wednesday, July 23, 2008 PINE RIDGE, S.D. (AP) Opponents of a request for expanded uranium mining near the South Dakota-Nebraska border have prompted
ConocoPhillips 2Q profit soars Wednesday, July 23, 2008 HOUSTON (AP) Record crude prices helped oil giant ConocoPhillips' second-quarter profit climb 13 percent from adjusted results a year
American Greetings sells Strawberry Shortcake Wednesday, July 23, 2008 CLEVELAND (AP) Strawberry Shortcake and the Care Bears are moving to Canada. Greeting card maker American Greetings Corp. said
Philadelphia Consolidated 2Q profit tumbles 44 pct Wednesday, July 23, 2008 BALA CYNWYD, Pa. (AP) Property and casualty insurer Philadelphia Consolidated Holding Corp. said Wednesday its second-quarter profit dropped 44
Fed: Slower growth, rising prices wham economy Wednesday, July 23, 2008 WASHINGTON (AP) The country slogged through slower economic growth and rising prices during the summer, packing a double whammy
Whirlpool reports 27 percent dip in 2Q profit Wednesday, July 23, 2008 GRAND RAPIDS, Mich. (AP) Household appliance maker Whirlpool Corp. said Wednesday its second-quarter profit fell 27 percent because of
Poll: Economy top issue; energy worries grow most Wednesday, July 23, 2008 WASHINGTON (AP) What's rising faster than gas prices this summer? Americans' worries about them. The economy is the nation's
Chrysler plans to cut 1,000 salaried jobs Wednesday, July 23, 2008 DETROIT (AP) Chrysler LLC says it will cut 1,000 salaried jobs worldwide by Sept. 30. The automaker announced the
July 18 - 27... National Black Arts Festival
V-103 welcomes the 20th Anniversary Celebration of the National Black Arts Festival in Atlanta from July 18-27. The National Black Arts Festival is the world’s most recognized summer festival for presenting the work of artists of African descent in the artistic disciplines of music, dance, theater, film, literature and the visual arts. For more information on events and activities in this years celebration, log onto www.nbaf.org.
Mable House Barnes Ampitheater Concert Series >>> This summer, enjoy 3 Summer Concert Series that include shows by The Delfonics and Kool & the Gang. Box Office 770-819-7765, or purchase through Ticketmaster. Click above for schedule.
Market Data
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Northwest Airlines posts $377 million 2Q loss
Northwest Airlines Corp. reported a second-quarter loss of $377 million Wednesday as it took another large accounting charge and fuel expenses continued to rise sharply. Northwest shares jumped 94 cents, or 10.4 percent, to $10.02 in morning trading. The Eagan, Minn.-based carrier lost $1.43 per share on revenue of $3.58 billion. During the same period last year, when Northwest emerged from bankruptcy protection, it made a profit of $2.15 billion, including $1.94 billion in bankruptcy items. It would have made $273 million a year ago without bankruptcy items.
SunTrust Banks' 2Q earnings down 20 percent
SunTrust Banks' second-quarter earnings dropped 20 percent, to $535 million, as the Atlanta bank also announced moves involving its Coca-Cola stock that boosted core capital. The results announced Tuesday, which equaled $1.53 a share, beat analysts' expectations of roughly $320 million, but included several gains and losses from the Coke transactions and other moves unrelated to the banks' core business that roughly doubled SunTrust's bottom line. Tuesday, Charlotte, N.C.-based rival Wachovia reported an $8.9 billion loss for the quarter, and Bank of America said its second-quarter income fell 40 percent from year-earlier results, to $3.41 billion.
Market turnaround 'close,' Home Depot CEO says
Home Depot Chief Executive Frank Blake told investors last month he hoped the housing market had hit bottom. On Tuesday, he said a turnaround is "close" but added, "I don't see it yet." "It's still a very tough market," said Blake, who appeared on CNBC's "Squawk Box" morning show in New York. It was Blake's first extended television interview since he became CEO in January 2007.
