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Monday Afternoon Business Brief

July 21, 2014, 2:17 PM

Monday Afternoon Business Brief

The stock market has been drifting lower today. The attention of investors is still focused partly on the tensions between Russia and the West over the downed plane in Ukraine. Jack Ablin of BMO Private Bank in Chicago says the earnings reports are "coming through quite nicely," but that "geopolitics trump earnings today."

  • U.S. airlines have been adding jobs for six straight months, though the gains aren't big ones. The Department of Transportation says the nation's passenger airlines had the equivalent of 385,000 full-time workers in May, up 1.1 percent from May 2013. That's the highest level since September 2012. Delta, American, US Airways and JetBlue added jobs while United shrunk 2.5 percent and Southwest slipped by 0.3 percent.
  • Hasbro reports profit that decreased by 8.2 percent in its second quarter, missing analysts' expectations. Hasbro says net income decreased to $33.5 million, or 26 cents per share, from $36.5 million, or 28 cents per share, in the same quarter a year ago. The company says revenue rose 8.2 percent to $829.3 million from $766.3 million in the same quarter a year earlier, and missed Wall Street forecasts.
  • Toy company Mattel is ramping up its efforts to bring Thomas & Friends products to consumers, rolling out a new direct-to-consumer catalog and website. Mattel Inc. said today that it is also teaming with 20 independent specialty retail stores to sell the Thomas & Friends Wooden Railway goods. Toys R Us will serve as the exclusive national chain.
  • Six Flags reports earnings that climbed by 40 percent in its second quarter. The results match analysts' expectations. The Grand Prairie, Texas-based company says earnings rose to $66.3 million, or 67 cents per share, from $47.4 million, or 47 cents per share, in the same quarter a year ago. Revenue increased 3.5 percent to $376.6 million from $363.7 million, in the same quarter a year ago, and missed Wall Street forecasts. Six Flags shares have climbed $4.18, to $41 since the beginning of the year.

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