Capital Goods
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Nortek Inc., maker of home and office security solutions, ventilation and air management products, and heating and cooling systems, reported a second-quarter net loss of $46.2 million, or $2.97 per diluted share, expanding the $8.6 million net loss, or 55 cents per diluted share, posted for the first quarter. more
Gasoline prices declined 4 cents in Rhode Island and 2 cents in Massachusetts this week, the third consecutive week of lower prices in both states, according to the weekly survey by AAA Southern New England. more
U.S. consumers may well remember the days, pre-2012, when shopping for an airline ticket was complicated by the airlines’ favored pricing scheme. Back then, an advertised $240 fare might suddenly turn out to be a $300 fare, given that taxes account for roughly 20 percent of the average domestic U.S. airfare. Passengers hated the system while the airlines – which hate price-comparison shoppers, because they drive down prices – embraced it. Fortunately, in 2012, the Department of Transportation imposed a rule requiring that the airlines advertise fares inclusive of the base fare, taxes and fees. Yet, notably, the rule didn’t prohibit the airlines from publishing the taxes and fees separately; it just required that they do so less prominently than the advertised, fully inclusive fare. The airlines, incensed at this pro-consumer bit of rulemaking, have been trying to overturn it ever since. more
On one side of the state line, Massachusetts highway projects are plowing ahead, despite the crisis in Washington, D.C., over the solvency of the federal highway trust fund. more
Construction employment in the Providence-Fall River-Warwick metro area grew 5 percent year over year last month, adding 1,100 jobs for a total of 22,200 in June, according to an Associated General Contractors of America report. more
KVH Industries Inc., a provider of guidance and Internet systems for the maritime and defense industries, reported second-quarter net income of $55,000, or zero cents per share, an improvement over the first-quarter net loss of $1.1 million but a 96.5 percent decline compared with net income of $1.6 million, or 10 cents per share, for the second quarter of 2013. more
Sensata Technologies Holding N.V. reported second-quarter net income of $63.9 million, or 37 cents per diluted share, more than three times the $20.4 million, or 11 cents per diluted share, reported for the same period last year. more
Gas prices in Rhode Island and Massachusetts dropped another 4 cents this week, according to the weekly survey by AAA Southern New England. more
Spending on non-residential construction in the U.S. will be less than initially projected as state and local governments scale back investments in such properties as schools and health care buildings, the American Institute of Architects said. more
Raytheon Co., the world’s largest missile maker, said second-quarter sales fell 6.8 percent as all four of its divisions reported declines. more
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