WellPoint Inc. shares slipped in morning trading after the company beat analysts’ expectations for second-quarter profits
but failed to raise its year-end earnings forecast. WellPoint earned $1.50 per share in the latest quarter, excluding investment
losses. Analysts were expecting $1.43 per share, according to a survey by Thomson Financial Network.
Indianapolis-based Duke Realty Corp. late yesterday posted a 32-percent drop in its second-quarter funds from operations,
a key performance measure for real estate investment trusts.
Cummins Inc.’s stock jumped more than 6 percent in morning trading after its quarterly results
beat analyst estimates.
Baldwin & Lyons Inc. said today that its profit last quarter was the second-highest in company
history, as investment gains from recovering equity markets helped boost performance.
Conseco Inc. said it would meet analysts’ expectations for the second quarter by posting earnings of at least 22 cents
per share, before investment losses. The Carmel-based health insurer announced the preliminary financial results today after
the market closed.
Second-quarter profit for Old National Bancorp fell 50 percent from the same period a year ago, but the company still managed
to exceed analysts’ expectations.
HHGregg Inc. said this morning it projects fiscal first-quarter profit to beat analyst expectations despite shrinking revenue
and a sharp decline in same-store sales.
Biomet Inc. yesterday reported a $170.9 million loss in its fiscal fourth quarter as the result of more than $300 million
in special charges.
Interactive Intelligence said yesterday it expects a profit of between $1.8 million and $2.5 million in the second quarter,
up from $845,000 the company earned in the same period last year.
Indianapolis-based Fortune Industries Inc. managed a small profit in its third quarter and now has turned a profit in each
of its last three quarters, the company announced this morning.
Emmis Communications Corp. reported a quarterly profit today after buying back a big chunk of its own debt on the cheap, but
the outlook for the company remains grim. The radio broadcaster and magazine publisher saw revenue plunge 27 percent.
The cross-continent mega deal that made Brightpoint Inc. the world’s biggest wireless phone distributor
has lost much of its sheen two years after being struck. Brightpoint Inc. in August 2007 purchased Denmark-based
Dangaard Telecom for $385 million in stock and the assumption of $350 million in Dangaard debt.
Steak n Shake Co. yesterday reported big increases in customer traffic and same-store sales for its fiscal third quarter,
which ended July 1. Customer traffic rose 13.4 percent and same-store sales jumped 5 percent in the quarter compared to the
same period a year ago, it said in a brief Securities and Exchange filing.
In this horrendous environment, nothing is more important for a debt-laden public company than proving it can pay its bills
Despite assurances of strength, Simon Property Group Inc. has decided to pay 90 percent of its dividend in stock, a move that allows the company to hold onto $925 million in cash this year but could alienate shareholders drawn by the dividend.
For more than two years, Smulyan, 61, has been unflaggingly optimistic during quarterly conference calls. But since early 2007, Emmis’ stock has fallen 84 percent, shrinking the company’s stock market value from $307 million to $48 million. The troubles have cast uncertainty over one of Indianapolis’ highest-profile businesses.
The locally based headwear retailer Hat World made a name for itself by snatching up competitors and opening hundreds of
stores around the country. However, after sluggish sales in the fiscal year that ended Feb. 2, the company–a
unit of Nashville, Tenn.-based Genesco Inc.–says it plans to open fewer stores than usual this year so
officials can put their focus back on existing operations.
Steak n Shake Co. CEO Peter M. Dunn analyzed and measured just about everything at the restaurant chain, from drive-through
times to employee turnover. All that research and testing was welcome when the company was thriving a few years ago. But the
lack of evidence that all the analysis was paying off eroded Wall Street’s confidence in Dunn.
