Archive for July, 2008
Thursday, July 31st, 2008
NEW YORK—Assurant Inc.'s second-quarter earnings rose 14 percent helped by strength in its special property division, the insurer said Thursday.For the three months ended June 30, net income at the health and employee benefits insurer rose to $190 million, or $1.59 per share. That compares with $166.3 million, or $1.36 ...
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Thursday, July 31st, 2008
NEW YORK—Cosmetics maker Revlon Inc. said Thursday it rose to a better-than-expected second-quarter profit as new products and strong international sales lifted results.Revlon, which is controlled by financier Ron Perelman and markets such products as Almay cosmetics, posted profit of $19.9 million, or 4 cents per share, compared with a ...
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Thursday, July 31st, 2008
Cablevision Systems Corp. said profits fell 69 percent in the second quarter, but earnings in the year-ago period were boosted by the sale of the company's stake in a regional sports network.The Bethpage, N.Y.-based cable operator earned $98.3 million, or 33 cents per share, compared with $317.4 million, or $1.08 ...
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Thursday, July 31st, 2008
NEW YORK—Investors holding stock in cigarette makers on Thursday will be weighing the passage of a House of Representatives bill that will require the U.S. Food and Drug Administration to regulate tobacco.The bill also calls for a scientific review of menthol in cigarettes, imposes tighter restrictions on tobacco advertising and ...
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Thursday, July 31st, 2008
WASHINGTON—Discount broker Charles Schwab Corp. spent $640,000 in the second quarter lobbying on taxes and retirement plan rules, according to a recent disclosure form.The San Francisco-based company lobbied on legislation that would require greater disclosure of the fees charged by mutual funds and other investments in employee 401(k)-style retirement plans.Fees ...
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Thursday, July 31st, 2008
WASHINGTON—Citigroup Inc. spent $1.4 million in the second quarter lobbying on the regulation of commodity futures trading and other issues, according to a recent disclosure form.The New York-based company lobbied on proposals that sought to limit investments in oil futures. Many lawmakers have blamed "speculators" for driving up the price ...
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Thursday, July 31st, 2008
GRAND RAPIDS, Mich.—Cereal and snack maker Kellogg says it has raised its full-year 2008 guidance to a range of $2.95 to $3 a share.The Battle Creek-based company said Thursday it is raising its guidance by 3 cents a share at both ends of the range as a result of its ...
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Thursday, July 31st, 2008
MEMPHIS, Tenn.—International Paper Co. said Thursday its second-quarter profit jumped 20 percent, beating Wall Street's estimates, as strong international sales helped offset rising raw material costs.Shares spiked $2.88, or nearly 12 percent, to $27.20 in morning trading.The paper-products company said it earned $227 million, or 54 cents per share, compared ...
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Thursday, July 31st, 2008
HOUSTON—Marathon Oil Corp. said Thursday it may split itself into two separate companies, one focused primarily on exploration and production and the other on refining and marketing.The announcement came as Houston-based Marathon said its second-quarter profit fell roughly 50 percent from a year ago, as significantly lower refining and marketing ...
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Thursday, July 31st, 2008
GRAND RAPIDS, Mich.—Kellogg Co. said Thursday its profit rose 3.7 percent in the second quarter as a result of product innovation and again raising prices to offset higher costs.The maker of Special K and other cereals and Keebler cookies came in slightly ahead of Wall Street's expectations, and it boosted ...
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