THE VIRGINIAN-PILOT
Copyright (c) 1996, Landmark Communications, Inc.
DATE: Friday, July 12, 1996 TAG: 9607120579
SECTION: BUSINESS PAGE: D1 EDITION: FINAL
LENGTH: 54 lines
Health maintenance organizations that have recently predicted disappointing second-quarter profits: Louisville, Ky.-based Humana Inc., serving the South and Midwest; profit of 18 cents to 22 cents per share; analysts predicted 33 cents. RightChoice Managed Care Inc., which serves the St. Louis area; profit of 14 cents to 18 cents; analysts had predicted 45 cents. Rockville, Md.-based Mid Atlantic Medical Services Inc.; profit of 5 cents to 10 cents per share; analysts had predicted 24 cents. Minneapolis-based United HealthCare, serving mostly the Midwest; profit of 40 cents to 45 cents per share; analysts had predicted 65 cents. (AP) AT&T to discontinue PersonaLink service
AT&T Corp. said Thursday it will discontinue its PersonaLink online service Aug. 30 as it continues to shift network-based services to the Internet. PersonaLink allows users of hand-held devices made by Sony Corp. and Motorola Inc. to communicate through computers. The system can do such things as alert users to a nose-diving stock price or let them buy concert tickets. AT&T initially invested about $100 million in the service, which was unveiled two years ago with much fanfare. However, it was swamped by the Internet, which has emerged as the main universe for electronic commerce when the Web was built on top of it. (Dow Jones News) June sales slow down as consumers cut back
Consumer spending in stores and malls slowed during June after four months of improvement, leaving the nation's big retailers with mixed sales results. The slowdown was to be expected after the strong spring at many stores. Consumers were cutting back a little, and many stores, particularly clothing retailers, had less merchandise to offer, having sold much of their inventory during the spring. Among the stores reporting strong sales were Sears, Roebuck and Co., boosted by its big business in home, garden and automotive goods. Gap Inc. also had a strong month. (AP) Ford Motor to acquire Budget Rent A Car
Ford Motor Co. said Thursday that it will expand its rental-car empire by acquiring control of Budget Rent A Car Corp. for an undisclosed price. Ford, which has sold cars and trucks to Budget for 25 years and has owned the company's nonvoting preferred shares since 1989, will acquire Budget's common stock from investor John Nevin. Unlike Big Three competitors Chrysler Corp. and General Motors Corp., which have been reducing their rental car investments, Ford has embraced the highly competitive business. (AP) by CNB