Earnings roundup: Arkansas Best, TCF Financial
By
Associated Press
July 23, 2008
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Among the earnings stories for Wednesday, July 23, from AP Financial News:
FORT SMITH, Ark. (AP) _ Trucking company Arkansas Best Corp. on Wednesday said its second-quarter profit dropped 17.6 percent on increased expenses for fuel and worker's compensation insurance. The results missed analyst expectations and its shares dropped almost 15 percent.
WAYZATA, Minn. (AP) _ Regional bank holding company TCF Financial Corp. said Wednesday its second-quarter profit fell 62 percent as the number of bad loans it wrote off nearly quadrupled, and it increased the amount it set aside to cover loan losses almost fivefold.
ARLINGTON, Va. (AP) _ FBR Capital Markets Corp., a majority-owned unit of Friedman, Billings, Ramsey Group Inc., said Wednesday it lost $25.2 million in the second quarter as investment banking revenue plunged.
BLUE BELL, Pa. (AP) _ Unisys Corp., an information technology services and computer server company, on Wednesday posted a smaller second-quarter loss compared with a year-ago period weighed down by hefty charges.
NEW YORK (AP) _ Industrial parts and equipment maker Dover Corp. said second-quarter profit fell 21 percent as it took a loss from discontinued operations related to its Long Beach, Miss.-based Triton ATM manufacturing business, which is up for sale, but the company beat Wall Street expectations as earnings from continuing operations climbed.