Archive for July, 2009
U.S. economy likely contracted in Q2, recovery seen (Reuters)
WASHINGTON (Reuters) –
The U.S. economy probably contracted again in the second quarter, pressured by a huge inventory liquidation, but the pace of decline likely slowed from previous periods, according to a Reuters survey.
While it would be the fourth straight quarter of declines in gross domestic product, analysts said it would be the last period of [...]
31Jul2009 | it-y | 0 comments | Continued
Futures edge up before GDP data, but Disney off (Reuters)
NEW YORK (Reuters) –
Stock index futures edged higher on Friday as investors bet that key economic data will show the economic slump is ebbing.
A string of stronger-than-expected second-quarter results have helped reinforce some optimism about economic stabilization. Companies posting solid results early Friday included Constellation Energy Group Inc (CEG.N).
The government will release second-quarter gross domestic [...]
31Jul2009 | it-y | 0 comments | Continued
Constellation Energy earnings beat estimates (Reuters)
(Reuters) –
Power company Constellation Energy Group Inc (CEG.N) reported better-than-expected quarterly results helped by strong margins in its wholesale and retail businesses, and increased its earnings forecast for the full year 2009.
Net income applicable to common stock holders for the second quarter was $8.1 million, or 4 cents a share, compared with $171.5 million, or [...]
31Jul2009 | it-y | 0 comments | Continued
New funding sought for U.S. "clunker" program (Reuters)
WASHINGTON (Reuters) –
The U.S. government's $1 billion "cash for clunkers" auto sales incentive program reached its funding limit unexpectedly after an avalanche of business exhausted its funds, an Obama administration official said late Thursday.
Auto dealers began offering government-backed rebates in early July of up to $4,500 to consumers who traded-in their gas-guzzlers for more fuel-efficient [...]
31Jul2009 | it-y | 0 comments | Continued
More U.S. banks put on "probation": report (Reuters)
(Reuters) –
U.S. federal regulators have raised the number of struggling banks which they have essentially put on probation, forcing them to fix their problems to avoid potential failures, the Wall Street Journal said.
Citing data obtained under the Freedom of Information Act requests, the paper said The Office of the Comptroller of the Currency (OCC), along [...]
31Jul2009 | it-y | 0 comments | Continued