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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Jul 19, 2000
Page
5
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Time Warner Inc reports stronger operating results but net income for the quarter was dampened by merger costs of 31 million dollars, losses from cable system exchanges, and a 50 million dollar charge tied to a court verdict related to its former Six Flags stake. Core earnings at 11 cents per share matched last year’s level, while revenue beat expectations.
The CPI shows a 0.6 percent month jump driven by a 5.6 percent surge in energy prices, with core inflation up 0.2 percent. Economists split on Fed rate moves, amid expectations energy prices may ease but spillovers risk. Energy and airline costs lift overall inflation while core remains subdued.
U S stocks ended lower as technology rebound gains were trimmed amid solid earnings reports and a hotter than expected consumer price index. The Dow fell about 58 points, the Nasdaq shed 68, and the S P 500 dropped 15 while volume rose on the NYSE.
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