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  • 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'...

  • NEW YORK, July 13- A self-described New York entrepreneur was arrested on Wednesday on charges that he conspired to hide the losses suffered by a hedge fund's clients in a scheme that involved bankrupt video technology company Kit Digital Inc.. Amanat, who was an investor in "Twilight" studio Summit Entertainment before its 2012 sale to Lions Gate Entertainment...

  • The marginal increase reported by the Labor Department on Wednesday likely reflects the lingering effects of the dollar's surge between June 2014 and December 2015, despite the greenback weakening this year against the currencies of the United States' main trading partners. Although we caution against over-interpreting import price data, this weakness...

  • While the result was little changed from the previous survey on June 15, the question on Wall Street now was not whether the Fed could manage one or two rate hikes, but whether it could pull off even one. For those who thought the Fed would not raise rates this year, the key factor was overseas risk that could hurt the U.S. economy, namely fallout from Britain's June 23...

  • NEW YORK, July 8- Wall Street's top banks were almost evenly split over whether the Federal Reserve would raise U.S. interest rates in 2016, with a poll following Friday's strong jobs data showing a razor-thin majority expect the central bank to raise rates once by the end of the year. For those who thought the Fed would not raise rates this year, the key factor was...

  • NEW YORK, July 8- Wall Street's top banks were almost evenly split over whether the Federal Reserve would raise U.S. interest rates in 2016, with a poll following Friday's strong jobs data showing a razor-thin majority expect the central bank to raise rates once by the end of the year. For those who thought the Fed would not raise rates this year, the key factor was...

  • WASHINGTON, June 30- Factory activity in the U.S. But a cloud looms over the economy following Britain's shock vote last week to leave the European Union. The so-called Brexit referendum unsettled markets and on Thursday, the International Monetary Fund said uncertainty over Britain's departure was the biggest risk to the global economy.

  • WASHINGTON, June 28- The U.S. Supreme Court on Tuesday agreed to decide whether Miami can pursue lawsuits accusing major banks of predatory mortgage lending to black and Hispanic home buyers resulting in loan defaults that drove down city tax revenues and property values. Last September, the Atlanta- based 11th U.S. Circuit Court of Appeals overturned a lower...