Published: Saturday, May 30, 2009
Business briefs: Everett cable TV customers need new box
Comcast consumers who live in Everett won't be able to view channels expanded basic cable channels without a digital converter box, a company spokesman said Thursday. Basic cable channels 30 through 70 will only be broadcast in digital formats in Everett, one step in a plan to move all TV broadcasts to digital signals this summer. "We are offering our customers three boxes at no additional charge--one advanced set top box and two small digital transport adapters or DTAs," Comcast spokesman Steve Kipp wrote in a statement. Subscribers should call 877-634-4434 to order the equipment. Additional information is available at www.comcast.com/digitalnow/.
Boeing net orders at break even point
The order page on Boeing's Web site shows the company picked up orders this week for five 787s but lost orders for five 767s. The buyers are not identified. For the year, Boeing has 65 orders and 65 cancellations for a net of zero.
Tiffany profits drop 62 percent
Jewelry retailer Tiffany & Co. said Friday that its first-quarter profit plunged 62 percent on a steeper-than-expected drop in sales as consumers continued to pull back on spending. Still, the earnings matched Wall Street's expectations and the company maintained its profit outlook for the full year. The New York-based retailer earned $24.3 million, or 20 cents per share, for the three months ended April 30, down from $64.4 million, or 50 cents per share, a year ago. Analysts polled by Thomson Reuters, whose estimates generally exclude one-time items, predicted net income of 20 cents per share. "Despite reduced consumer demand in the luxury sector, Tiffany is, and is projected to remain, solidly profitable and will generate substantial cash," said Chief Executive Michael Kowalski.
Economy sank in first quarter
The economy sank at a 5.7 percent pace in the first quarter as the brute force of the recession carried over into this year. However, many analysts believe activity isn't shrinking nearly as much now as the downturn flashes signs of letting up. The Commerce Department's updated reading on gross domestic product, released Friday, showed the economy's contraction from January to March was slightly less deep than the 6.1 percent annualized decline first estimated last month. But the new reading was a tad worse than the 5.5 percent annualized drop economists were forecasting. It was a grim first-quarter performance despite the small upgrade. It marked the second straight quarter where the economy took a huge tumble. At the end of last year, the economy shrank at a staggering 6.3 percent pace, the most in a quarter-century. Economists believe the economy is already improving."Things are getting less awful," said Bill Cheney, chief economist at John Hancock Financial Services.
From Herald news services
Boeing net orders at break even point
The order page on Boeing's Web site shows the company picked up orders this week for five 787s but lost orders for five 767s. The buyers are not identified. For the year, Boeing has 65 orders and 65 cancellations for a net of zero.
Tiffany profits drop 62 percent
Jewelry retailer Tiffany & Co. said Friday that its first-quarter profit plunged 62 percent on a steeper-than-expected drop in sales as consumers continued to pull back on spending. Still, the earnings matched Wall Street's expectations and the company maintained its profit outlook for the full year. The New York-based retailer earned $24.3 million, or 20 cents per share, for the three months ended April 30, down from $64.4 million, or 50 cents per share, a year ago. Analysts polled by Thomson Reuters, whose estimates generally exclude one-time items, predicted net income of 20 cents per share. "Despite reduced consumer demand in the luxury sector, Tiffany is, and is projected to remain, solidly profitable and will generate substantial cash," said Chief Executive Michael Kowalski.
Economy sank in first quarter
The economy sank at a 5.7 percent pace in the first quarter as the brute force of the recession carried over into this year. However, many analysts believe activity isn't shrinking nearly as much now as the downturn flashes signs of letting up. The Commerce Department's updated reading on gross domestic product, released Friday, showed the economy's contraction from January to March was slightly less deep than the 6.1 percent annualized decline first estimated last month. But the new reading was a tad worse than the 5.5 percent annualized drop economists were forecasting. It was a grim first-quarter performance despite the small upgrade. It marked the second straight quarter where the economy took a huge tumble. At the end of last year, the economy shrank at a staggering 6.3 percent pace, the most in a quarter-century. Economists believe the economy is already improving."Things are getting less awful," said Bill Cheney, chief economist at John Hancock Financial Services.
From Herald news services
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