Second Quarter, Second Quarter Earnings | featured news

Growth at or below 2% isn't enough to lower the unemployment rate. The U.S. economy grew at an annual rate of just 1.5 percent from April through June, as Americans cut back sharply on spending. The slowdown in growth adds to worries that the economy could be stalling three years after the recession ended.

The company reported net income of $7 million, or 1 cent a share, on sales of $12.8 billion. It was less profit than analysts had estimated, but the revenue was in line with forecasts.

Sprint Nextel Corp., the country's third-largest wireless carrier, on Thursday reported a wider loss for the second quarter as wrote down the value of its moribund Nextel network.

The New York Times Company reported a second-quarter loss on Thursday because of a write-down in the value of About.com and continuing declines in print and digital advertising revenue.

RadioShack Corp. said today that it’s eliminating its dividend to shareholders as it reported a second quarter loss. The Fort Worth-based consumer electronics retailer reported a net loss of $21 million, or 21 cents a share, compared with a profit of $24.9 million, or 24 cents a share a year ago. Total sales increased 1.2 percent from a year ago and same-store sales were flat.

AT&T Inc pulled back its outlook for business services this year, sending its shares down 3 percent despite its better than expected quarterly profit as it reduced costs from customer upgrades to smartphones such as the Apple Inc iPhone.

Citigroup Inc reported lower second-quarter profit on Monday as the big banking group lost money on the sale of a stake in a Turkish bank and suffered from the drag of its troubled assets left over from the 2008 credit crisis.

Portfolio managers will be doing some last-minute shopping for winners from the big stock market rally as they take part next week in the quarter-end ritual of window dressing.

IBM led the worldwide server market in Q2 2011 with a 30.5% market share, topping HP which fell to the second position after its market share dropped to 29.8%, down 1.7 percentage points from Q1 2011.

The economy grew much slower than previously thought in the second quarter as business inventories and exports were less robust, a government report showed on Friday, although consumer spending was revised up.