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  • WASHINGTON, July 29- U.S. economic growth unexpectedly remained tepid in the second quarter as inventories fell for the first time in nearly five years and business investment weakened further, offsetting robust consumer spending. Gross domestic product increased at a 1.2 percent annual rate after rising by a downwardly revised 0.8 percent pace in the first...

  • *Second-quarter GDP rises at a 1.2 percent rate. WASHINGTON, July 29- U.S. economic growth unexpectedly remained tepid in the second quarter as inventories fell for the first time in nearly five years and business investment remained weak, offsetting robust consumer spending. Gross domestic product increased at a 1.2 percent annual rate after rising by a...

  • CHARLOTTE, N.C. _ Park Sterling Corp. on Thursday reported second-quarter earnings of $5.6 million. Park Sterling shares have risen 5 percent since the beginning of the year. Keywords: Park Sterling, Earnings Report.

  • CHARLOTTE, N.C.— LendingTree Inc. on Thursday reported second-quarter profit of $7.9 million. For the current quarter ending in October, LendingTree said it expects revenue in the range of $96 million to $99 million. In morning trading, LendingTree shares rose 5 percent, or $4.66, to $100.16.

  • CHARLOTTE, N.C.— Sealed Air Corp. on Thursday reported second-quarter net income of $49.6 million. Sealed Air expects full-year earnings in the range of $2.52 to $2.60 per share, with revenue expected to be $6.85 billion. Sealed Air shares have increased 10 percent since the beginning of the year, while the Standard& Poor's 500 index has increased 6 percent.

  • CHARLOTTE, N.C. _ Extended Stay America Inc. on Thursday reported second-quarter net income of $60.7 million. Extended Stay America expects full-year revenue in the range of $1.26 billion to $1.27 billion. Extended Stay America shares have fallen slightly more than 6 percent since the beginning of the year.

  • CHARLOTTE, N.C. _ Curtiss-Wright Corp. on Wednesday reported second-quarter net income of $40 million. Curtiss-Wright expects full-year earnings in the range of $4 to $4.15 per share, with revenue in the range of $2.12 billion to $2.17 billion. Curtiss-Wright shares have climbed 27 percent since the beginning of the year.

  • CHARLOTTE, N.C. _ Sonic Automotive Inc. on Tuesday reported second-quarter earnings of $22.8 million. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 50 cents per share. Sonic Automotive shares have decreased 16 percent since the beginning of the year.

  • CHARLOTTE, N.C. _ Carlisle Cos. Inc. on Tuesday reported second-quarter earnings of $115.2 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share. Four analysts surveyed by Zacks expected $1.01 billion.

  • PHILADELPHIA— Facing hotel bills running into the thousands of dollars, some delegates to the Democratic National Convention are planning to do like college students on spring break and squeeze as many people into a room as they can. Nicole Lutkemuller, a Bernie Sanders delegate from Tahoma, California, said her two-bed room at the Marriott Hotel Philadelphia...

  • CHARLOTTE, N.C. _ Nucor Corp. on Thursday reported second-quarter profit of $233.8 million. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share. Nucor shares have increased 34 percent since the beginning of the year, while the Standard& Poor's 500 index has increased slightly more than 6 percent.

  • CHARLOTTE, N.C. _ Capital Bank Financial Corp. on Thursday reported second-quarter earnings of $17.4 million. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share. Capital Bank shares have declined nearly 6 percent since the beginning of the year.

  • Like other lenders, the Charlotte, N.C.- based bank has been struggling under the weight of low rates for years, but analysts say Bank of America is particularly sensitive to the issue because of how management has positioned its balance sheet. Chief Executive Brian Moynihan announced a new expense target of $53 billion for 2018. Bank of America did not previously...

  • Like other lenders, the Charlotte, N.C.- based bank has been struggling under the weight of low rates for years, but analysts say Bank of America is particularly sensitive to the issue because of how management has positioned its balance sheet. Chief Executive Brian Moynihan announced a new expense target of $53 billion for 2018. Bank of America did not previously...

  • Like other lenders, the Charlotte, N.C.- based bank has been struggling under the weight of low rates for years, but analysts say Bank of America is particularly sensitive to the issue because of how management has positioned its balance sheet. Chief Executive Brian Moynihan announced a new expense target of $53 billion for 2018. That's $3.3 billion less than the...

  • Net income attributable to BofA's common shareholders fell to $3.87 billion, or 36 cents per share, in the second quarter ended June 30, from $4.80 billion, or 43 cents per share, a year earlier. Excluding special items, the bank earned 37 cents per share, beating the average analyst estimate of 33 cents, according to Thomson Reuters I/B/E/S. But optimism has faded...

  • Net income attributable to BofA's common shareholders fell to $3.87 billion, or 36 cents per share, in the second quarter ended June 30, from $4.80 billion, or 43 cents per share, a year earlier. Excluding items, the bank earned 37 cents per share, beating the average analyst estimate of 33 cents, according to Thomson Reuters I/B/E/S. "We continued to invest in core...

  • NEW YORK— Bank of America's earnings fell 20 percent in the second quarter, the bank said Monday, as historically low interest rates dented the bank's profitability, just like it had done for its major competitors. The Charlotte, North Carolina- based banking giant earned $3.87 billion, or 36 cents per share, before dividends to preferred shareholders.

  • RALEIGH, N.C.— Duke Energy Corp.' s purchase of Piedmont Natural Gas Co. will create a company with the financial resources to expand the distribution of natural gas across the country as utilities shift further away from coal to the cleaner-burning fuel, the chief executive of the country's largest electric company said Monday. Duke Energy is spending $5...

  • WASHINGTON, July 15- U.S. retail sales rose more than expected in June as Americans bought motor vehicles and a variety of other goods, bolstering views that economic growth picked up in the second quarter. The bullish data and a rally on Wall Street could allow the Federal Reserve to raise interest rates later this year, but much will depend on policymakers'...