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Top News & Analysis Charlotte

  • WASHINGTON, Feb 24- New U.S. single-family home sales rose less than expected in January, likely held back by heavy rains and flooding in California, but continued to point to a strengthening housing market despite higher prices and mortgage rates. Consumers are confident and are buying homes, but builders are not getting their share of that demand, "said Joel...

  • CHARLOTTE, N.C. _ SPX Corp. on Thursday reported a loss of $86.1 million in its fourth quarter. On a per-share basis, the Charlotte, North Carolina- based company said it had a loss of $2.06. For the year, the company reported that its loss widened to $85.3 million, or $2.02 per share.

  • CHARLOTTE, N.C. _ Tree.com Inc. on Thursday reported fourth-quarter profit of $7.3 million. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share. Four analysts surveyed by Zacks expected $97.4 million.

  • American announced early Tuesday that it began selling the new fares for flights starting March 1 on 10 different routes from its hub airports in Dallas, Miami, Philadelphia and Charlotte, North Carolina. United followed suit later in the day, posting reduced fares on some flights from Minneapolis to seven of its hub cities including New York, Chicago and Los...

  • Pakistani soldiers patrol at the site of a court complex after multiple Taliban suicide bombings in the Tangi area of Charsadda district on February 21, 2017.

    Here are some of the key stories CNBC is following this hour.

  • DALLAS— American Airlines has begun selling cheaper "basic economy" fares as it battles discount airlines for the most budget-conscious travelers. American announced Tuesday that it began selling the new fares for flights starting March 1 on 10 different routes from its hub airports in Dallas, Miami, Philadelphia and Charlotte, North Carolina.

  • CHARLOTTE, N.C. _ Sonic Automotive Inc. on Tuesday reported fourth-quarter earnings of $37.6 million. Sonic Automotive expects full-year earnings to be $2 to $2.10 per share. Sonic Automotive shares have increased roughly 4 percent since the beginning of the year.

  • NEW YORK— Bank of America CEO Brian Moynihan is getting a big pay raise this year. The Charlotte, North Carolina- based bank said Friday that its board of directors awarded Moynihan a pay package of $20 million for 2016, up from his package of $16 million for his work in 2015.. It was Bank of America's second-largest full-year profit ever.

  • CHARLOTTE, N.C.— Duke Energy Corp. on Thursday reported a fourth-quarter loss of $230.7 million, after reporting a profit in the same period a year earlier. Duke Energy expects full-year earnings in the range of $4.50 to $4.70 per share. Duke Energy shares have dropped 1 percent since the beginning of the year, while the Standard& Poor's 500 index has increased...

  • CHARLOTTE, N.C. _ EnPro Industries Inc. on Wednesday reported a fourth-quarter loss of $2.9 million, after reporting a profit in the same period a year earlier. The Charlotte, North Carolina- based company said it had a loss of 14 cents per share. For the year, the company reported that its loss widened to $40.1 million, or $1.86 per share.

  • CHARLOTTE, N.C. _ Curtiss-Wright Corp. on Wednesday reported fourth-quarter profit of $68.6 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share. Curtiss-Wright expects full-year earnings to be $4.30 to $4.40 per share, with revenue in the range of $2.17 billion to $2.21 billion.

  • It is unclear what Berkshire paid for its Apple shares, but so far in 2017 their value has increased by $1.1 billion, and legendary investor Buffett's increased interest in Apple could boost already positive sentiment on Wall Street. Many on Wall Street also believe that strong sales of the iPhone 6 S two years ago have left a larger-than-normal base of...

  • *Yellen says Fed to raise interest rates at an upcoming meeting. *Dollar, Treasury yields, bank stocks gain. Feb 14- Major U.S. stock indexes established record highs on Tuesday, led by bank stocks after Federal Reserve Chair Janet Yellen said it would be unwise to wait too long to raise interest rates.

  • The stock was up 1.2 percent at $134.91 in afternoon trade, beating its previous intraday high of $134.54 set on April 28, 2015. Many on Wall Street also believe that strong sales of the iPhone 6 S two years ago have left a larger-than-normal base of customers ready to upgrade. "Were holding it, we look for opportunities to buy," said Jeff Carbone, co-founder of...

  • *Yellen says Fed to raise interest rates at an upcoming meeting. Feb 14- Major U.S. stock indexes hit record highs on Tuesday, led by bank stocks after Federal Reserve Chair Janet Yellen said it would be unwise to wait too long to raise interest rates. Apple rose as much as 1.25 percent to an all-time high of $134.95, contributing to gains in the S&P 500, Dow Jones...

  • DALLAS— Support from labor unions was critical when Doug Parker's US Airways forced a merger with American, but now the CEO of the world's biggest airline is under fire from unions unhappy about pay that lags rates at rival Delta. The unions are complaining about lower pay and profit sharing than counterparts at Delta Air Lines. American says it has increased...

  • CHARLOTTE, N.C.— The founder of ZeekRewards has been sentenced to nearly 15 years behind bars for his lead role in an $850 million online Ponzi scheme that bilked nearly a million people in the U.S. and abroad. Paul Burks, 70, was given three concurrent prison sentences of 14 years and eight months Monday after being convicted in July on four felony fraud charges,...

  • CHARLOTTE, N.C. _ Snyder's-Lance Inc. on Monday reported a fourth-quarter loss of $8.7 million, after reporting a profit in the same period a year earlier. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share. Five analysts surveyed by Zacks expected $633.6 million.

  • Consumer sentiment falls in early February. WASHINGTON, Feb 10- U.S. consumer sentiment eased off a 13- year high in early February likely as some of the jubilation over Donald Trump's election victory ebbed, but it remained strong enough to suggest that consumers will continue to drive the economy. The University of Michigan on Friday said its consumer...

  • *Nonfarm payrolls forecast rising 175,000 in January. WASHINGTON, Feb 3- U.S. job growth likely accelerated in January, with wages expected to have increased steadily, suggesting a strong start for the Trump administration as it seeks to boost the economy and employment. President Donald Trump vowed during last year's election campaign to deliver 4 percent...