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  • PHILADELPHIA— Drew Lewis, a businessman who served as U.S. transportation secretary under President Ronald Reagan during the 1981 air traffic controllers' strike, has died at age 84.. Lewis, who lived on a farm in Lower Salford, in the Philadelphia suburbs, died Wednesday in Prescott, Arizona, of complications from pneumonia, said his son, Andy Lewis.

  • NEW YORK, Feb 12- As U.S. stocks continue to struggle in 2016, equities are showing some signs selling pressure may be reaching an end. Jack Ablin, chief investment officer at BMO Private Bank in Chicago, views that as a positive sign. "My suspicion is that you are seeing institutions nibble at extremely compressed valuations," said Peter Kenny, equity market...

  • HOUSTON— Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 30 this week to 541.. Colorado, Pennsylvania and Wyoming lost two apiece and Kansas was off by one. Alaska, Arkansas, Ohio, Utah and West Virginia were all unchanged.

  • Feb 12- Now markets have delivered their verdict on inflation- it's not picking up any time soon- economic data due next week will show whether price pressures are rising meaningfully or falling back in some of the world's major economies. Sweden's Riksbank also slashed its repo rate to -0.50 percent on Thursday, partly as insurance against expectations that...

  • YORK, Pa. _ Dentsply International Inc. on Friday reported fourth-quarter earnings of $58.6 million. The average estimate of six analysts surveyed by Zacks Investment Research was also for earnings of 65 cents per share. Dentsply shares have dropped 7 percent since the beginning of the year, while the Standard& Poor's 500 index has declined 11 percent.

  • NEW YORK, Feb 12- For the past six years, U.S. refiners from Texas to Philadelphia have bought every barrel of crude they can lay their hands on to cash in on a golden era of healthy margins. Now, at least five refiners- including two of the country's largest- have voluntarily cut output of gasoline and distillate in the most widespread cuts since the global financial...

  • MALVERN, Pa. _ USA Technologies Inc. on Friday reported a loss of $874,000 in its fiscal second quarter. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share. Three analysts surveyed by Zacks expected $16.8 million.

  • Democrats failed in their attempt to amend the legislation to retain the flight service as part of the FAA. The failed Democratic amendment to keep air traffic control within the FAA would have made FAA funding mandatory, protecting it from political squabbles over the budget. It would also have required reforms to ensure adequate controller staffing and the...

  • Bill Shuster, R- Pa., said "transformational" change is needed because the FAA's air traffic modernization program is taking longer and costing more than anticipated. Both sides agree the delays and cost overruns have come partly because Congress has subjected the agency to shutdowns, furloughs and repeated short-term funding extensions.

  • Senate panel to hear from U.S. antitrust bosses Thursday, 11 Feb 2016 | 6:03 PM ET

    WASHINGTON, Feb 11- The Senate Judiciary Committee's antitrust subcommittee will hear from the top U.S. antitrust bosses next month to discuss a wave of big mergers over the past year, according to a staffer briefed on the hearing. The Justice Department's Bill Baer, the assistant attorney general for the antitrust division, and Edith Ramirez, chairwoman of the...

  • Knoll posts 4Q profit Thursday, 11 Feb 2016 | 5:39 PM ET

    EAST GREENVILLE, Pa. _ Knoll Inc. on Thursday reported fourth-quarter net income of $13.4 million. On a per-share basis, the East Greenville, Pennsylvania- based company said it had net income of 28 cents. For the year, the company reported profit of $66 million, or $1.36 per share.

  • Qlik misses Street 4Q forecasts Thursday, 11 Feb 2016 | 4:45 PM ET

    RADNOR, Pa. _ Qlik Technologies Inc. on Thursday reported fourth-quarter profit of $22.9 million. Twelve analysts surveyed by Zacks expected $208.5 million. For the current quarter ending in April, Qlik expects its results to range from a loss of 14 cents per share to a loss of 12 cents per share.

  • BRIDGEWATER, N.J.— A company that manufactures gases, including helium for Macy's Thanksgiving Day Parade balloons, is moving its headquarters after getting tax credits to stay in New Jersey. Linde Americas announced Thursday that it will move its headquarters for North and South America to Bridgewater, New Jersey, from about 20 miles away in New Providence.

  • A measure offered by Representative Peter DeFazio, top Democrat on the House Transportation and Infrastructure Committee, sought to protect the Federal Aviation Administration from funding disruptions and to address other issues that Republicans view as reasons for transferring air traffic control from the FAA to a new private, nonprofit corporation.

  • Entercom Communications posts 4Q profit Thursday, 11 Feb 2016 | 9:23 AM ET

    BALA CYNWYD, Pa. _ Entercom Communications Corp. on Thursday reported fourth-quarter net income of $14.1 million. On a per-share basis, the Bala Cynwyd, Pennsylvania- based company said it had profit of 34 cents. Entercom Communications shares have declined 16 percent since the beginning of the year.

  • GNC beats 4Q profit forecasts Thursday, 11 Feb 2016 | 7:57 AM ET

    PITTSBURGH _ GNC Holdings Inc. on Thursday reported fourth-quarter profit of $42.9 million. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share. Three analysts surveyed by Zacks expected $621.3 million.

  • Mylan to buy Sweden's Meda AB for $7.2 billion Wednesday, 10 Feb 2016 | 4:54 PM ET

    NEW YORK— Drugmaker Mylan says it will buy Meda AB of Sweden for $7.2 billion in cash and stock, and says the move will help it enter new markets. Mylan had $9.45 billion in revenue in 2015 and said Meda's revenue totaled about $2.35 billion. Mylan said the Meda deal will expand its over-the-counter drug business to about $1 billion in annual sales and will bring its...

  • Andrew Cuomo is urging federal regulators to reject KeyCorp's $4.1 billion deal to buy First Niagara Financial Group and create the 13th largest commercial bank in the United States. The New York Democrat says the proposed acquisition of Buffalo- based First Niagara by Cleveland- based KeyCorp would reduce retail banking competition in upstate New York,...

  • NEW YORK, Feb 10- Investors in U.S.-based mutual funds poured $8.1 billion into stock funds in the latest week, marking the biggest inflows since Nov. 2013 on views that recent weakness has made U.S. shares more attractive and overseas stocks remained promising. Investors committed $2.3 billion to funds that specialize in U.S. shares in the week ended Feb. 3,...

  • The same conservatives who forced John Boehner out as speaker are making life difficult for Ryan, signaling they'll refuse to vote for an upcoming GOP budget plan that endorses the higher spending numbers from last year. The Wisconsin Republican has built a congressional career as the Republican Party's budget savant, but Ryan is perhaps in his career's most...