Kellogg 2nd-quarter profit up despite rising costs

(Reuters) - By Brad Dorfman



CHICAGO, July 26 - Kellogg Co. posted a better-than-expected 13 percent increase in quarterly profit on Thursday as price increases and cost-cutting measures helped offset rising expenses.


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UPDATE 1-EarthLink posts Q2 loss, cuts 2007 revenue view

(Reuters) - The company also lowered its full-year revenue outlook as
it now expects to lose 450,000 to 500,000 subscribers in 2007,
more then double of what it had projected earlier.




The net loss for the Atlanta-based company was $16.3
million, or 13 cents a share, compared with a profit of $16.6
million, or 12 cents a share, a year earlier.


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UPDATE 3-Rising costs, prices weigh on Finnish papermakers

(Reuters) - HELSINKI, July 26 - The large Finnish paper makers
all reported results close to expectations on Thursday, but
rising costs and soft outlooks on paper prices pushed their
share prices down.




Both top global paper and board maker Stora Enso
and leading magazine paper firm UPM raised their cost
inflation estimates after a rise in wood prices.


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CORRECTION: Wall St set for slide on oil, housing, credit

(Reuters) - NEW YORK - Stocks headed for a sharply lower open on Thursday as worries about a rise in oil prices, housing slump and worsening climate for financing corporate takeovers drove a global sell-off in shares.




U.S. crude for September rose to $77.24 in electronic trade, stoking concern about the toll of higher energy prices on personal spending as consumers grapple with a stalled housing market.


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Ford advances Jaguar, Land Rover sale talks

(Reuters) - "We are now exploring in greater detail the potential sale of the combined Jaguar Land Rover business with selected parties who have expressed interest."




Ford added, however, there is no guarantee it will agree to a sale.


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Jobless claims fall 2,000 in latest week

(Reuters) - Economists polled by Reuters had forecast that initial claims would rise to 310,000 from the original reading of 301,000 in the week ended July 14.




The four-week moving average, a more reliable gauge because it irons out most of the weekly fluctuations, fell to 308,500 from 312,500 the prior week.


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Comcast net up, but shares down on subscriber loss

(Reuters) - Although Comcast's profit and revenue growth was in line with expectations, the company lost 95,000 basic video subscribers in the second quarter -- a much bigger loss than the 20,000 forecast by Bear Stearns analyst Spencer Wang or the 12,000 estimated by Sanford Bernstein analyst Craig Moffett.




Comcast usually loses some customers in the second quarter as university students terminate their contracts at the end of the school year, but analysts had expected that to be offset this quarter by subscriber gains elsewhere. Comcast had lost 91,000 basic video subscribers in the year-ago period.


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