Brighter Minds Media turns Q2 profit of US$44,000 as revenues rise

July 24, 2008 - 8:58 am

TORONTO - Educational entertainment company Brighter Minds Media Inc. (TSXV:BRI) says it logged a second quarter net profit of US$44,000 on higher revenues.

The results for the three-month period ended June 30 compared with a year-ago loss of $160,000.

Revenues rose to $1.8 million ...

Suncor Energy's Q2 earnings rise to $829 million on high oil prices

July 24, 2008 - 8:56 am

CALGARY - Planned maintenance and unexpected repairs caused Suncor Energy Inc.'s (TSX:SU) production to slip during the second quarter, but earnings rose 12 per cent for Canada's No. 2 oilsands producer thanks to high crude prices.

Suncor said Thursday its oilsands production averaged ...

TSX loses early momentum as commodity stocks sell off; NY also lower

July 24, 2008 - 8:55 am

TORONTO - The Toronto stock market turned lower late in the morning Thursday as early gains based on strong earnings reports from commodity stocks such as EnCana Corp. (TSX:ECA) and Potash Corp. (TSX:POT) evaporated.

New York indexes were also sharply lower amid mixed corporate results, ...

Petro-Canada profit surges up 77 per cent to $1.5B in 'strong quarter'

July 24, 2008 - 8:54 am

CALGARY - The big recent runup in oil prices helped Petro-Canada's (TSX:PCA) second-quarter earnings surge 77 per cent over a year ago, but the integrated oil company saw earnings at its refining business evaporate despite record gas prices at the pump.

The Calgary-based company reported ...

Drug maker Elan says second-quarter sales grow 30 per cent

July 24, 2008 - 8:47 am

DUBLIN, Ireland - Biopharmaceutical company Elan Corp. PLC reported growing sales and narrowing losses in second-quarter results Thursday, citing momentum for its multiple sclerosis-fighting drug, Tysabri.

Sales rose 30 per cent to $245.6 million in the April-June quarter, chiefly because ...

Satellite radio companies to pay US$19.7 million to settle rules violations

July 24, 2008 - 8:46 am

WASHINGTON - America's two satellite radio companies have agreed to pay US$19.7 million to settle rules violations, a move that is expected to lead to quick approval of their merger.

Federal Communications Commission chairman Kevin Martin told The Associated Press Thursday that the agency ...

Report: U.S. grand jury investigating subprime mortgage lenders

July 24, 2008 - 8:43 am

LOS ANGELES - A U.S. federal grand jury reportedly is investigating the nation's largest subprime mortgage lenders, Countrywide Financial Corp., New Century Financial Corp. and IndyMac Federal Bank.

Subpoenas have been issued in recent months to all three companies, seeking e-mails, phone ...

Union Pacific second-quarter profit rises 19 per cent, beats views

July 24, 2008 - 8:43 am

NEW YORK - Booming shipments of coal, grain and fertilizer coupled to improved productivity drove Union Pacific Corp.'s second-quarter earnings up 19 per cent, despite the impact of rising fuel costs and Midwest floods.

America's largest freight railroad operator also issued a ...

Lee Enterprises news co. third-quarter profit falls 87 per cent

July 24, 2008 - 8:41 am

NEW YORK - U.S. newspaper publisher Lee Enterprises Inc. said Thursday its fiscal third-quarter profit fell 87.4 per cent, partly on one-time impairment charges.

The Davenport, Iowa-based company said net income was US$2.8 million, or six cents per share, for the three months ended June ...

Existing home sales in the United States fall 2.6 per cent in June

July 24, 2008 - 8:39 am

WASHINGTON - Sales of existing homes in the United States fell more sharply than expected in June as the housing industry continued to be bruised by the worst slump in more than two decades.

The National Association of Realtors reported that sales dropped by 2.6 per cent last month to a ...

New layoff filings in the U.S. jump as companies retrench

July 24, 2008 - 8:38 am

WASHINGTON - The number of newly laid off people filing claims for unemployment benefits in the United States bolted past 400,000 last week as companies trimmed their work forces to cope with a slowing economy and fallout from a collapsed housing market.

The U.S. Labour Department reported ...

Qualcomm earns outlook falls short of expectations but stock rises on settlement

July 24, 2008 - 8:36 am

NEW YORK - Qualcomm, the world's largest maker of chips that run cellphones, issued fourth-quarter and full-year earnings guidance Thursday that fell short of Wall Street targets, but the stock soared on a broad-ranging legal settlement.

Qualcomm shares rose $8.80, or nearly 20 per cent, ...

Kinross strikes deal to take over Aurelian Resources; transaction valued at $1.2B

July 24, 2008 - 8:35 am

TORONTO - Kinross Gold Corp. (TSX:K) is taking over Aurelian Resources Inc. (TSX:ARU) in a $1.2 billion transaction that one analyst says has likely left Kinross shareholders "a little mystified" because it expands the Toronto company's operations in a risky South American country.

The ...

Xerox second-quarter profit declines 19 per cent, but meets views

July 24, 2008 - 8:32 am

SAN FRANCISCO - Xerox Corp.'s second-quarter profit skidded 19 per cent, but matched Wall Street's forecast, as the office-equipment maker was hurt by restructuring charges while its cash-cow supplies and services business hummed along smoothly.

The Norwalk, Conn.-based company makes most ...

Amazon.com shares take leap on strong quarterly earnings report

July 24, 2008 - 8:30 am

NEW YORK - Amazon.com Inc. shares leaped 13 per cent Thursday after the Internet retailer showed that it doesn't seem to be bothered by the sputtering U.S. economy.

On Wednesday, Amazon reported second-quarter earnings that more than doubled and easily topped analysts' expectations. It ...

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