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Business News


Microsoft stock stands at 15 year highs as they reported a second quarter profit that was down 7% and sales were up 17%.  Hitting the bottom-line was Microsoft’s integration of the Nokia phone operations into the company. (Reuters)

Pepsi saw profits drop 2% in the latest quarter as sales were essentially flat. The company raised full year profit guidance upwards in the report to 8% growth.  Like most multi-national companies Pepsi is seeing profit decreases due to currency exchange rates. (Wall Street Journal)

Boeings second quarter profits increased 52% as sales increased 1%.  The delivery of planes was up 7%.  Boeing gave strong future guidance on the increasing demand from low cost airlines and booming airline travel in Asia and China. (Associated Press)

Apple saw 12% profit growth in Q2 as iPhone sales increased almost 13%.  But for the second quarter in a row iPad sales fell, this quarter by 9.2% after falling 16% in Q1.  The company has $164.5 billion in cash. (Wall Street Journal)

 
Regulators are expected to vote today to end a long-time staple of the investment industry—the fixed $1 share price for money-market funds. The SEC may also vote to let money funds block withdrawals during periods of financial stress or impose new fees for withdrawals. This could remove a perceived safe haven for investors.  (CNBC)

 

Traffic & Weather

 

 

 

 

Jones Road, full road closure between Bennington Lane and NE Butler Market Road. May 18 – August 18, local access only.
 

 

Orion Drive closed in two locations for sewer work; at the intersection with Avery Lane and between Desert Woods Drive and King Hezekiah Way.  From July 11 to Sept. 6. Detours marked.

 

Valhalla Sewer Relocation Project, Mt. Washington Drive at Shevlin Park Road intersection and North to Regency Street. Nighttime closures with detours marked during roundabout construction. Daytime closures for construction towards Regency Street.    7 p.m. – 7 a.m., July 11 – November.

 
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