Among the earnings stories for Thursday, July 17, from AP Financial News:
Top stories:
SAN FRANCISCO (AP) _ IBM Corp.'s second-quarter profit leaped 22 percent, blowing past Wall Street estimates as the technology company's bread-and-butter services division continued to thrive despite economic malaise in the U.S.
NEW YORK (AP) _ The banking sector looked a little brighter for a second straight day Thursday after JPMorgan Chase & Co. reported better-than-expected results despite a spike in mortgage and other loan defaults.
Other stories:
NEW YORK (AP) _ Media General Inc. swung to a loss in the second-quarter on severance costs and lower ad revenue and expects to take an additional charge of up to $550 million to write down the value of its intangible assets.
NEW YORK (AP) _ Trucking company Werner Enterprises Inc. said Thursday its second-quarter profit dropped as fuel prices jumped, but results still beat Wall Street's expectations.
NEW YORK (AP) _ Higher gas sales and a boost from its more upscale stores helped grocer Safeway Inc. post slightly higher second-quarter earnings Thursday, but a downbeat outlook because of consumers cutting back sent its shares tumbling more than 10 percent.
MILWAUKEE (AP) _ MGIC Investment Corp., the nation's largest mortgage insurer, said Thursday it lost nearly $100 million in the previous quarter, but its shares soared almost 40 percent amid optimism over its long-term outlook.
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