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Daily Archives: July 24, 2008

Performance Technologies beats estimates

Performance Technologies Inc. logged a nickel a diluted share in the second quarter, beating company and analyst estimates, the firm reported Thursday after the market closed. The local systems developer beat analyst estimates by four pennies a share. Net income ...

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Transcat reports 10.3% revenue growth

Gross profit at Transcat Inc. got a 7 percent boost in the first quarter fiscal 2009, the calibration firm announced Thursday after the market closed. Profit grew to $4.5 million; revenue in the first fiscal quarter grew 10.3 percent to ...

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Existing home sales fall 2.6 percent to 10-year low

Sales of previously owned U.S. homes fell in June to the lowest level in a decade, Bloomberg reported. Resales dropped 2.6 percent to a lower-than-forecast 4.86 million annual rate from a 4.99 million pace the prior month, the National Association ...

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Ford shifts away from trucks after $8.7 billion loss

Ford Motor Co. posted a record quarterly loss of $8.7 billion and accelerated a conversion to fuel-efficient vehicles to wean itself from money-losing trucks, Bloomberg reported. The figure included $8 billion in pretax writedowns for plant closings and the declining ...

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New layoff filings rise sharply

The number of newly laid off people filing claims for unemployment benefits bolted past 400,000 last week, AP reported. The Labor Department reported Thursday that the number of new applications filed for these benefits rose by a seasonally adjusted 34,000 ...

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Iraq banned from Olympics

The International Olympic Committee has confirmed a ban on Iraq from competing in the Beijing Games in a major blow to seven Iraqi athletes who had hoped to travel to China, an IOC letter said. The IOC move came after ...

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Dow Chemical misses Street expectations

Dow Chemical Co. posted second-quarter earnings that fell short of market expectations as its price increases did not completely offset a sharp spike in energy and raw material costs, Reuters reported.

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Monro Muffler reports record sales

Monro Muffler Brake Inc. on Thursday reported record first-quarter sales on lower earnings, beating Street expectations. Sales for the quarter ended June 28 increased nearly 12 percent to $120.4 million from $107.6 million a year ago. Net income, however, fell ...

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Xerox earnings match expectations

Xerox Corp. on Thursday reported second-quarter earnings per share of 24 cents, in line with company and analyst expectations. However, the company’s reported net income of $215 million was down 19 percent from $266 million a year ago. The earnings ...

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Five Star parent earnings down

Second-quarter net income at Financial Institutions Inc. was $1.6 million, or 12 cents a share, down 53 percent from $3.4 million, or 27 cents a share, a year ago, the Warsaw-based bank reported Thursday. The drop in income was the ...

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First Niagara Q2 beats expectations

First Niagara Financial Group Inc. on Thursday reported net income of $23.1 million, or 22 cents a share, for the second quarter, up 39 percent from $16.6 million and 16 cents a share a year ago and a penny more ...

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County gives $50K to literacy program

Monroe County will give $50,000 to the Mercier Literacy Program through a grant from the county’s department of human services, County Executive Maggie Brooks said Thursday. Program founder George Mercier will partially match the county’s grant by donating $25,000. The ...

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HR Works expands outsourcing services

HR Works Inc. is expanding its services to include full benefits administration outsourcing, the company said. This scalable service will include answering questions via an employee benefits call center, communicating benefit information and updates to employees, and assisting new employees ...

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Economic forum focuses on Ghana

The International Business Council of Greater Rochester on Monday will host an economic forum luncheon featuring a delegation from Ghana. The group from the African nation is particularly interested in waste management and agriculture technologies and trade opportunities, IBC officials ...

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State sues UBS for alleged fraud

State Attorney General Andrew Cuomo has filed a multibillion-dollar securities fraud lawsuit against UBS Securities LLC and UBS Financial Services Inc., he announced Thursday. The suit charges UBS with falsely selling and marketing auction-rate securities as safe, highly liquid and ...

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