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Southwest’s strong 2022 rebound soured by holiday debacle
DALLAS — Southwest Airlines anticipates a money-losing fourth quarter after a winter storm and technology meltdown led to nearly 17,000 canceled flights and stranded hundreds of thousands of holiday travelers. The cancellations will result in a pretax hit of $725 million to $825 million from lost revenue plus extra costs, including reimbursements for travelers and […]
Southwest Airlines brings back dividend as travel rebounds
DALLAS — Southwest Airlines said Wednesday that it is bringing back dividends for shareholders, which it suspended when the pandemic devastated the airline business in early 2020. Dallas-based Southwest said in a regulatory filing that it will pay a quarterly dividend of 18 cents per share on Jan. 31. The move comes as air travel […]
T. Rowe’s assets under management, revenue fall as market struggles
T. Rowe Price’s assets under management and revenues were down in the first quarter of 2022.
T. Rowe Price acquires alternative credit manager for $4.2 billion
T. Rowe Price will acquire Oak Hill Advisors, L.P., an alternative credit manager, for $4.2 billion in cash and stocks, the firm announced Thursday. Coming in the final months of Bill Stromberg’s tenure as T. Rowe’s CEO, the acquisition is the firm’s largest in over 20 years and aims to propel T. Rowe’s expansion into […]
Under Armour meets street expectations in $95.5M loss
Under Armour is rebuilding momentum in its home market.
Marriott tops 3Q profit forecasts
BETHESDA — Marriott International Inc. on Monday reported third-quarter net income of $70 million. The Bethesda-based company said it had net income of 26 cents per share. Earnings, adjusted for non-recurring costs, were 91 cents per share. The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was […]
Sinclair expecting record year for political ads
With the presidential race in full swing, Hunt Valley-based Sinclair Broadcasting is expecting to bring in $260 million to $280 million in political advertising this year, up from $255 million during the presidential election campaign four years ago. “This will be a record-breaking year for us,” said Lucy Rutishauser, Sinclair’s senior vice president of corporate […]
Discovery says 2Q profit up 43 percent
SILVER SPRING — Discovery Communications, the company behind TLC, Animal Planet and other cable TV channels, said Tuesday that its second-quarter proft jumped 43 percent on the strength of its U.S. business. Shares of Discovery rose 5 percent in midday trading. The company said revenue from its U.S. networks rose 7 percent, that’s to rising […]
Bay Bank sees profit increase from first quarter
Bay Bancorp Inc. announced Friday that its profit more than doubled in the second quarter this year compared to the first but was down compared to the same quarter in 2015. Profit increased to $0.45 million or $0.04 per basic and diluted common share for the second quarter, compared to $0.19 million or $0.02 per basic and diluted […]
Under Armour announces new retail expansions
Under Armour, shrugging off dismal profit numbers from the most recent quarter, announced Tuesday that it was making aggressive expansions at both ends of the retail market. In 2017, the Baltimore sports and apparel giant will bring its product into Kohl’s stores. Two years after that, the company plans to open a prime retail space […]
Stromberg: Dell helped T. Rowe settle buyout suit
T. Rowe Price CEO William Stromberg confirmed Tuesday that Dell Inc. paid the Baltimore firm about $25 million to settle a lawsuit over a 2013 proxy vote flub over the technology company’s buyout. “Dell did pay,” said Stromberg. “Separate negotiations were made on behalf of clients.” The Wall Street Journal reported the settlement last month, at […]
Howard Bank reports net income increase for first half of 2016
Howard Bank saw an increase in net income this year, but expenses have also gone up, the bank reported in its second quarter earnings release on Thursday. Net income available to common shareholders was up 77 percent from $2.44 million for the first half of 2016 compared to $1.38 million in the first six months […]
