U.S. stocks were trading mixed Tuesday on 27th July, 2010 at 2:40PM EDT as the Dow Jones Industrial Average rose 20 points to 10545 but the Standard & Poor’s 500 fell 2 points to 1113 and the Nasdaq Composite dropped 9 points to 2287.
Bank of America (NYSE:BAC, $14.27, +$0.12, 0.85%) today announced that it loaned $45.4 billion to small and medium-sized businesses in the first half of 2010. This amount represents an increase in lending of nearly $9 billion over the same period last year.
United States Steel Corp. (NYSE:X, $45.58, -$3.31, -6.77%) on Tuesday posted a second-quarter loss, although it was far smaller than a year ago as sales more than doubled. United States Steel reported a second quarter 2010 net loss of $25 million, or $0.17 per diluted share versus a net loss of $392 million, or $2.92 per diluted share in the same quarter a year earlier.
West Chester-based AK Steel Corp. (NYSE:AKS, $14.30, -$0.90, -5.92%) doubled its sales in the second quarter from a year ago, helping the company reverse a loss. Net income attributable to AK Steel was $26.7 million, or 24 cents per share, compared to a loss of $47.2 million, or 43 cents per share in the same quarter a year earlier.
BP (NYSE:BP, $37.99, -$0.66, -1.71%) reported on Tuesday a record $17.15 billion quarterly loss and set aside $32.2 billion to cover costs of the devastating Gulf of Mexico oil spill. That charge includes the $20 billion fund the company agreed to set up in June to cover damages related to the spill.
Chemical maker DuPont Co. (NYSE:DD, $40.49, +$1.50, 3.85%) said Tuesday that its net income nearly tripled in the second quarter and raised its full-year earnings forecast amid improving global demand. DuPont Co. reported second-quarter net income of $1.159 billion, or $1.26 per share, compared with $417 million, or 46 cents per share in the same quarter a year earlier.
Swiss bank UBS AG (NYSE:UBS, $16.48, +$1.33, 8.78%) posted a second-quarter profit of 2.01 billion Swiss francs (USD $1.91 billion), aided by strong results from its equity trading division and said it should resolve all tax matters with the U.S. government by October. UBS’s revenue rose 59 percent to 9.19 billion Swiss francs in the second quarter.
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