MIXED RESULTS FOR BODY CENTRAL
Jacksonville-based Body Central Corp. had a mixed bag for the second quarter this year.
The women's apparel company had $79.4 million in revenues for the second quarter this year, up 6.3 percent from the $74.7 million in revenue for the same quarter a year ago. However, net income and income from sales were both down, according to a news release.
Income from operations in the second quarter of this year was $5.5 million for Body Central, a drop from the $8.1 million in operational income for the same quarter in 2011. Net income from sales was $3.4 million in the second quarter that ended June 30, down from the $5.3 million in net income a year ago.
Body central has 258 specialty apparel stores in 24 states that sell dresses, tops, jewelry and other accessories.
The Times-Union MORTGAGE INSURANCE DEALS INVESTIGATED
The government's consumer finance watchdog is investigating deals that transferred billions in premiums charged to mortgage borrowers from mortgage-insurance companies to the banks that made the loans.
The deals amounted to kickbacks, because the banks pressured insurers into them in exchange for a share of the banks' mortgage- insurance business, according to civil lawsuits filed by borrowers and legal experts.
The Consumer Financial Protection Bureau has served subpoenas to American International Group Inc., MGIC Investment Corp.Genworth Financial Inc. and Radian Group Inc., the companies said in public filings this week. The CFPB asked for documents and answers to written questions about captive mortgage reinsurance deals, they said.
The companies did not respond to requests for comment Friday.
Associated Press TOYOTA RAISES SALES TARGET FOR YEAR
Toyota raised its sales target for this year to a record 9.76 million vehicles and reported a strong recovery in quarterly profit Friday, underlining its bounce back from a disaster plagued 2011.
Toyota Motor Corp. said April-June profit zoomed to 290.3 billion yen ($3.7 billion) from 1.1 billion yen the year before. Its new sales target would represent a 23 percent increase from the 7.95 million vehicles sold in 2011, and is 180,000 vehicles more than Toyota's last forecast in February.
The car maker's quarterly sales soared nearly 60 percent to 5.5 trillion yen ($70.5 billion), rebounding from a sales crash that Japanese automakers suffered after the earthquake and tsunami in March last year.
Associated Press HIRING SURGE FUELS WALL STREET RALLY
A surge in hiring last month got a big welcome on Wall Street Friday.
The Dow Jones industrial average surged 217.29 points to close at 13,096.17, ending a four-day losing streak. It was the best day for the Dow since June 29.
Markets had been slumping after central banks in the U.S. and Europe took no new action to shore up the economy, as investors had hoped.