Dow Chemical profit tops quarterly earnings estimates
The New York Times: Dow Chemical, the No. 1 U.S. chemical maker by sales, reported a better-than-expected rise in quarterly profit as cost controls helped to boost margins in businesses that make coatings, plastics and crop-protection products. Margins expanded across most of Dow Chemical's businesses despite a more than $300 million increase in the cost of feedstock and energy, the company said.
GM says it has shipped thousands of replacement ignition switches
Reuters: General Motors on Wednesday said it has shipped "thousands" of kits needed to repair the defective ignition switches linked to at least 13 deaths. The No. 1 U.S. automaker also said letters were mailed last week to about 1.4 million owners of 2003-2007 models alerting them to contact dealers to schedule repair appointments, which should take about 90 minutes.
TD Ameritrade 2nd quarter profit up 35 pct on net new assets
Reuters: TD Ameritrade Holding Corp, the biggest U.S. discount broker, said profit in its fiscal second quarter jumped 34.7 percent to $194 million on record revenue driven by net new client assets of $12.2 billion. The profit translates to 35 cents a share, also up 35 percent from the year-earlier quarter and consistent with the forecast of analysts tracked by Thomson Reuters I/B/E/S.