Somber Airline News Continues
Date: 19 July 2002
By Bloomberg News
Bloomberg News
Earnings reports show losses last quarter widened at Delta Air Lines and Northwest Airlines and profit fell at Southwest Airlines; Delta says its loss widened to $186 million; Northwest lost $93 million; Southwest remained profitable, but its earnings fell 42 percent, to $102.3 million; traffic at 10 largest airlines decreased 9.6 percent in quarter (M)
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CITIGROUP'S BIGGEST SHAREHOLDER, A SAUDI, BUYS MORE
Date: 19 July 2002
By Bloomberg News
Bloomberg News
Saudi Arabia's Prince Walid bin Talal, biggest shareholder of Citigroup Inc, buys $500 million of its stock, saying shares are 'very tempting' after losing 27 percent of their value this year; Prince Walid says value of his Citigroup holding now exceeds $10 billion (S)
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LOCKHEED MARTIN'S PROFITS DOUBLED IN 2ND QUARTER
Date: 19 July 2002
By Bloomberg News
Bloomberg News
Lockheed Martin Corp says second-quarter profit more than doubled on increased sales of aircraft; net income rose to $339 million from $144 million year earlier; sales increased to $6.29 billion from $5.7 billion (S)
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BOEING'S PROFIT IS DOWN, BUT SHARES ARE UP
Date: 18 July 2002
By Bloomberg News
Bloomberg News
Boeing Co says profit fell 7.3 percent in second quarter; net income fell to $779 million from $840 million year earlier; sales fell 11 percent, to $13.9 billion from $15.5 billion (S)
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DATA SOUGHT ON GLOBAL CROSSING'S SHREDDING POLICIES
Date: 19 July 2002
By Bloomberg News
Bloomberg News
Reps Billy Tauzin and James C Greenwood ask Global Crossing chief executive John J Legere for data about company's document-destruction policies; workers have accused company, which sought bankruptcy protection in January, of shredding files; House members also want company to make seven employees available for interviews (S)
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AMERICAN ELECTRIC POWER REDUCES PROFIT OUTLOOK
Date: 19 July 2002
By Bloomberg News
Bloomberg News
American Electric Power Co reduces its 2002 profit outlook by 10 percent as company warns that its second-quarter profit will fall short of analysts' expectations (S)
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AUTO PARTS MAKER SETTLES DISABILITY DISCRIMINATION SUIT
Date: 18 July 2002
By Bloomberg News
Bloomberg News
Visteon Corp, leading maker of auto parts, agrees to pay $415,000 to settle disability discrimination lawsuit by Equal Employment Opportunity Commission; payment resolves EEOC claims that Visteon and its former parent, Ford Motor Co, refused to hire 11 job applicants based on pre-employment physical exams in violation of Americans With Disabilities Act; Visteon also agrees to spend $200,000 over next five years to train employees on disability policies (S)
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SEARS HAS BETTER-THAN-EXPECTED 2ND QUARTER
Date: 19 July 2002
By Bloomberg News
Bloomberg News
Sears, Roebuck & Co had higher-than-expected second-quarter profit and raises its 2002 forecast; net income was $420 million compared with loss of $197 million year earlier; sales fell less than 1 percent, to $10.14 billion (S)
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EARNINGS ROSE 80% AT FARMER MAC IN SECOND QUARTER
Date: 19 July 2002
By Bloomberg News
Bloomberg News
Federal Agricultural Mortgage Corp, or Farmer Mac, says second-quarter earnings rose 80 percent; net income rose to $6.68 million compared with $3.72 million year earlier (S)
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WITH TRAVEL RECOVERY SLOW, SABRE CUTS PROFIT FORECAST
Date: 19 July 2002
By Bloomberg News
Bloomberg News
Sabre Holdings Corp, owner of Travelocity.com, cuts 2002 profit and revenue forecasts; reports second-quarter earnings of $68 million, up from $27.7 million year earlier; sales fell to $533 million from $582 million (S)
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REGULATORY MOVE CAUSES DROP IN CAPITAL ONE SHARES
Date: 18 July 2002
By Bloomberg News
Bloomberg News
Capital One Financial Corp says regulators require it to increase reserves for loan losses, setting off sharp decline in its stock; shares fall $20.12, or 39.8 percent, to $30.48 (S)
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