Review & Preview.July 19 - 25 Earnings Reports: Metro-Goldwyn-Meyer Inc. reported a net loss of $121.8 million, compared to a loss of $61.3 million for the like period a year ago. Revenues rose to $336.9 million from 274.9 million the year earlier. Ticketmaster, which sells tickets and operates an online dating service A Net dating service, also known as online dating or Internet dating, is an example of a dating system and allows individuals, couples and groups to meet online and possibly develop a romantic or sexual relationship. , reported second-quarter net income of $14.7 million, compared with a net loss of $29.5 million for the like period a year ago. Second-quarter revenues were $212.5 million, up from $187 million. 99 Cents Only Stores Inc. reported second-quarter net income of $13.5 million, compared with $10.9 million for the like period a year ago. Sales for the City of Commerce-based discount chain rose 23 percent, to $167.9 million. Avery Dennison Avery Dennison Corporation (NYSE: AVY) produces pressure-sensitive materials (such as self-adhesive labels), office products, and various paper products. R. Stanton Avery founded Avery in 1935. Avery Dennison Corporation was created in 1990 by merger of Avery and Dennison. Corp. reported second-quarter net income of $73.8 million, compared with $59.8 million for the like period a year ago. The Pasadena-based maker of labels and adhesive products had sales of $1.05 billion vs. $960.8 million. Unocal Corp. reported second-quarter net income of $114 million, compared with $247 million for the like period a year ago. The El Segundo-based oil company saw revenues fall 39 percent, to $2.4 billion. Occidental Petroleum Occidental Petroleum Corporation ("Oxy") NYSE: OXY is an international oil and gas exploration and production company with operations in the United States, Middle East/North Africa and Latin America regions. Corp. reported second-quarter net income of $240 million, compared with $473 million for the like period a year ago. Revenue for the Los Angeles-based oil company fell 18 percent, to $3.1 billion. Activision Inc. reported second quarter net income of $20.7 million, compared with $29,000 for me like period a year ago. Sales for the Santa Monica-based video game developer rose to $191.3 million from $110 million. Jakks Pacific Inc. reported second-quarter net income of $7.8 million, compared with $6.9 million for the like period a year ago. Revenue for the Malibu-based toy maker rose 13 percent, to $79 million. Jakks also announced it had fired 48 employees, or 15 percent of its workforce, to reduce costs. Weilpoint Health Networks Inc. reported second-quarter net income of $170.7 million, compared with $99.9 million for the like period a year ago. Revenue for t he Thousand Oaks-based health provider rose 37 percent, to $4.2 billion. Review Renewed: Regulators said they had again taken up the proposed purchase of Hughes Electronics by EchoStar Communications Corp. The Federal Communications Commission Federal Communications Commission (FCC), independent executive agency of the U.S. government established in 1934 to regulate interstate and foreign communications in the public interest. halted its review four months as it awaited additional information from both companies, which they have now filed. The FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. tries to complete license transfer reviews within 180 days and had stopped the clock for the EchoStar deal on the 77th day. Phone Ruling: A state administrative law judge administrative law judge n. a professional hearing officer who works for the government to preside over hearings and appeals involving governmental agencies. They are generally experienced in the particular subject matter of the agency involved or of several agencies. gave tentative approval to Pacific Bell to sell long-distance service in California, but the ruling contained several restrictions on how the company must operate. Pacific Bell, a unit of SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. Communications, said it would work with the Public Utilities Commission to resolve the judges criticisms, especially regarding high-speed Internet services. NBC-Universal?: NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. Chief Executive Robert Wright said the network would be interested in buying or merging with Vivendi Universal SA's U.S. entertainment assets. Analysts and investors have speculated that Vivendi may sell Universal Studios and Universal Music Group as a way of paring down $17 billion in debt Universal executives, including Barry Diller, were in Paris to meet with top Vivendi officials. Fed OK: U.S. regulators have approved Amgen Inc.'s Aranesp drug to treat anemia in cancer patients. Aranesp, which is a longer lasting form of the Thousand Oaks-based company's older anemia drugs Epogen and Procrit, was launched last year as a treatment for patients with chronic kidney disease Chronic kidney disease (CKD), also know as chronic renal disease, is a progressive loss of renal function over a period of months or years through five stages. Each stage is a progression through an abnormally low and progressively worse glomerular filtration rate, which is . Amgen reported second-quarter net income of $412 million, compared with $322 million for the like period a year ago. Revenue increased 27 percent, to $1.2 billion. July 29 - Aug. 4 Earnings Updates: Among the companies set to release financial results this week are Mercury General, eUniverse, Hilton Hotels, IHOP IHOP International House Of Pancakes (restaurant chain) iHOP Information Hyperlinked Over Proteins IHOP International House of Prayer IHOP International H2O Project IHOP International House of Pain , ArtistDirect, Capstone Turbine, DaVita, Tekelec, Fremont General and Walt Disney. Reflecting ongoing weakness in the advertising market and a generally ailing entertainment sector, Disney is expected to post earnings of 17 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , compared to 29 cents for the like-year earlier period. Sports Talk: The business of sports will be the topic of a KFWB-AM "Power Breakfast on Thursday (1st) at the Westin Boneventure. Moderated by KFWB anchor Bret Lewis, panelists will include Dodgers President Bob Graziano and Anschutz Entertainment Group The Anschutz Entertainment Group (AEG) is a sporting and music entertainment presenter and a subsidiary of The Anschutz Corporation. The company owns or operates several major entertainment/sporting venues, including Staples Center and The Home Depot Center and beginning in President Tim Leiweke. Program begins at 7:30 a.m. Fore!: The Los Angeles Area Chamber of Commerce sponsors its chamber Golf Classic on Monday (29th) at the Sherwood Country Club. Events begins at 11 am. Call 213-580-7524. Tennis Anyone?: The world's top women players get going on Sunday (4th) at Manhattan Country Club in Manhattan Beach for the JPMorgan Chase Open presented by Audi. Among those scheduled to play: defending champion Lindsay Davenport, Serena Williams, Jennifer Capriati and Martina Hingis. Action concludes on Aug. 11. Job Numbers: With the markets in such flux, July's unemployment data, due out on Friday (2nd), will be closely watched. June's jobless rate stood at 5.9 percent. State and county data is due out the following Friday. Redecorating Tips: Run out of ideas about how to make that kitchen a little bit cheerier or a lot more functional? Go to the annual Home Remodeling remodeling /re·mod·el·ing/ (re-mod´el-ing) reorganization or renovation of an old structure. bone remodeling and Decorating Show at the L.A. Convention Center this weekend (2nd-4th) where hundreds of vendors will be offering advice and selling their products. Neighborhood Parley par·ley n. pl. par·leys A discussion or conference, especially one between enemies over terms of truce or other matters. intr.v. : The first Congress of Neighborhood Councils in the city of LA. takes place Saturday (3rd) at the Universal Hilton. Representatives from the city's 39 certified neighborhood councils, as well as citizens from other areas of L.A. interested in forming their own councils, will gather to network. The congress is open to members of neighborhood councils or are in the process of forming one. Insight: Pam Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Kalafut, co-author of "Invisible Advantage: How Intangibles Are Driving Business Performance," speaks at a roundtable sponsored by Cap Gemini Ernst & Young on Wednesday (31st). The event begins at 6 p.m. at the Four Seasons Hotel Los Angeles. |
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