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Oakland mayor’s handling of salary bump garners goodwill from political doubters

Published Tue, 19 Nov 2024 12:20:56 GMT

OAKLAND — As anticipated, Mayor Sheng Thao will be getting a raise — but one that’s much smaller than what city officials had initially planned.Late Tuesday night, the City Council voted 6-2 to increase Thao’s salary by about $13,000 — the lowest possible bump that would be required under a longstanding city law — bringing the mayor’s pay to roughly $216,000 annually.The amount matched what the mayor earlier that day had urged the council to approve, amid mounting public backlash toward what was originally on the table: a roughly $75,000 raise, the highest-possible salary hike that she could have received.Thao has faced several crises during her first six months in office, including her firing in February of the police chief and an impending breakup with the Oakland A’s.But her request for a lower raise — and promise to refund anything in excess — won some goodwill from her early political adversaries, including the local c...

Edgio: Q4 Earnings Snapshot

Published Tue, 19 Nov 2024 12:20:56 GMT

PHOENIX (AP) — PHOENIX (AP) — Edgio, Inc. (EGIO) on Wednesday reported a loss of $46.5 million in its fourth quarter.The Phoenix-based company said it had a loss of 21 cents per share. Losses, adjusted for restructuring costs and stock option expense, were 6 cents per share.The network services company posted revenue of $108.8 million in the period.For the year, the company reported a loss of $136.5 million, or 75 cents per share. Revenue was reported as $338.6 million.Edgio expects full-year revenue in the range of $392 million to $398 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on EGIO at https://www.zacks.com/ap/EGIOSource

Montgomery Co. police release video in search for suspects in Rockville home invasion

Published Tue, 19 Nov 2024 12:20:56 GMT

Police have released surveillance footage in their search for a group of men who broke into a Rockville, Maryland, apartment after assaulting the owner earlier this month.The Montgomery County Police Department said officers responded to a home invasion at a Key West Avenue apartment complex around 1:25 a.m. on Monday, July 10.According to investigators, six suspects wearing black clothing approached a male resident who had parked in the building’s garage. The group stabbed the man, zip-tied his hands and forced him into their own vehicle.Police believe the suspects then coerced the man into giving them access to his apartment, where they stole a safe containing cash and jewelry.Surveillance footage published Wednesday showed the suspects pushing the victim into an elevator, and then his own home, hands bound behind his back.Members of the man’s family were home at the time of the robbery, police said in a news release, but were not harmed. The victim was hospitalized wi...

Zions: Q2 Earnings Snapshot

Published Tue, 19 Nov 2024 12:20:56 GMT

SALT LAKE CITY (AP) — SALT LAKE CITY (AP) — Zions Bancorp (ZION) on Wednesday reported second-quarter net income of $175 million.The Salt Lake City-based bank said it had earnings of $1.11 per share.The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.The financial holding company posted revenue of $1.17 billion in the period. Its revenue net of interest expense was $791 million, beating Street forecasts. Seven analysts surveyed by Zacks expected $757.3 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ZION at https://www.zacks.com/ap/ZIONSource

Calix: Q2 Earnings Snapshot

Published Tue, 19 Nov 2024 12:20:56 GMT

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Calix Inc. (CALX) on Wednesday reported second-quarter net income of $9.4 million.On a per-share basis, the San Jose, California-based company said it had profit of 13 cents. Earnings, adjusted for stock option expense and pretax expenses, came to 36 cents per share.The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.The cloud, software platforms, systems and services provider for communications service providers posted revenue of $261 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $256.3 million.For the current quarter ending in September, Calix expects its per-share earnings to range from 32 cents to 38 cents.The company said it expects revenue in the range of $260 million to $265 million for the fiscal third quarter.Calix shares have decreased 28% since the beginning of t...

Large Pfizer pharmaceutical plant is heavily damaged by tornado in North Carolina, company says

Published Tue, 19 Nov 2024 12:20:56 GMT

ROCKY MOUNT, N.C. (AP) — Large Pfizer pharmaceutical plant is heavily damaged by tornado in North Carolina, company says.Source

Discover: Q2 Earnings Snapshot

Published Tue, 19 Nov 2024 12:20:56 GMT

RIVERWOODS, Ill. (AP) — RIVERWOODS, Ill. (AP) — Discover Financial Services (DFS) on Wednesday reported second-quarter net income of $901 million.On a per-share basis, the Riverwoods, Illinois-based company said it had net income of $3.54.The results fell short of Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of $3.66 per share.The credit card issuer and lender posted revenue of $4.99 billion in the period. Its adjusted revenue was $3.88 billion, which beat Street forecasts. Seventeen analysts surveyed by Zacks expected $3.87 billion._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DFS at https://www.zacks.com/ap/DFSSource

United Airlines says it made $1 billion in the second quarter and sees strong remainder of 2023

Published Tue, 19 Nov 2024 12:20:56 GMT

United Airlines said Wednesday it earned more than $1 billion in the second quarter despite canceling 3,800 flights in the last two weeks of June, when it struggled to recover from storms that crippled its key operation in the New York City area.United indicated that it sees no let-up in strong demand for tickets: It raised its forecast of third-quarter and full-year profit.The report underscores how airline revenue and profits are soaring as travel bounces back after the pandemic. Big carriers like United are benefitting especially from the strong recovery in international travel after the lifting of COVID-19-related restrictions. From April through June, more than 2.4 million travelers per day on average went through U.S. airport security checkpoints, virtually identical with numbers from the same period of 2019 and a 10% jump from last year. Airlines at times have struggled to handle those crowds, although they have hired enough new workers to replace ones they encouraged to quit...

Bills and Raccuia part ways months after top executive finishes stadium negotiations

Published Tue, 19 Nov 2024 12:20:56 GMT

BUFFALO, N.Y. (AP) — Ron Raccuia, who played the lead role in negotiating Buffalo’s new $1.54 billion stadium deal, is out as the Bills’ top executive, team owner Terry Pegula announced on Wednesday.In saying the sides had parted ways, Pegula cited a monthslong evaluation of the team’s business side in determining a need to “revamp and improve our structure.” Pegula thanked Raccuia for his many years of hard work and dedication and wished him the best of luck.In making the change, Pegula is taking over the role of team president, which was previously held by his wife. Kim Pegula, who has been away from the team for the past 13 months, is dealing with significant language and memory issues after going into cardiac arrest.As part of the shakeup, Pegula announced John Roth will assume Raccuia’s titles as executive vice president and COO. Roth will now split his duties between the Bills and the Pegula-owned Buffalo Sabres, where he has served as the NHL team’s COO after bein...

F.N.B.: Q2 Earnings Snapshot

Published Tue, 19 Nov 2024 12:20:56 GMT

PITTSBURGH (AP) — PITTSBURGH (AP) — F.N.B. Corp. (FNB) on Wednesday reported second-quarter profit of $142.4 million.The Pittsburgh-based bank said it had earnings of 39 cents per share.The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.The financial holding company posted revenue of $564.5 million in the period. Its revenue net of interest expense was $409.6 million, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $403.6 million._____This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FNB at https://www.zacks.com/ap/FNBSource