The Ticker

Initial jobless claims up

Initial jobless claims rose by 7,000 last week, according to the Labor Department, but the overall trend points to an improving job market.

New jobless claims rose to 343,000 last week after dropping by 22,000 the week before. The four-week average, which is seen as a less volatile number, fell by 1,250 to 345,250.

New unemployment applications indicate layoffs in the country.

More than 4.8 million Americans received unemployment benefits in the week that ended July 6, down nearly 20 percent from a year before. July unemployment numbers will be released on Aug. 2.

Starbucks profit rises on U.S. sales

Starbucks Corp. yesterday posted a bigger than expected jump in quarterly profit after new "Refresher" fruit beverages and seasonal Frappuccino iced drinks helped drive more visits to its shops in the United States, its top market. The world's biggest coffee chain also raised its full-year profit forecast, sending shares soaring almost 6 percent in after-hours trading.

Amazon reports $7 million loss

Amazon reported a loss of $7 million for the second quarter, or 2 cents per share for the three months through June.

Wall Street analysts had expected Amazon to earn 
5 cents per share in the second quarter.

The company reported sales of $15.7 billion, a 
22 percent increase from the same quarter last year. The growth in sales was just shy of analysts' expectations of $15.73 billion. Amazon shares dropped by almost 2 percent in after hours trading.

GM sales increase 3.9 percent

General Motors second-quarter sales rose 3.9 percent, signaling the largest U.S. automaker is poised for growth with one of the biggest waves of new models in its history.

While net income dropped on falling profit from the unit that includes India and southeast Asia, earnings excluding some items beat analysts' estimates. Revenue rose to $39.1 billion from $37.6 billion.

TODAY

• Samsung Electronics reports quarterly financial results.

THE SHUFFLE

• Seven Step RPO announced that Jason Berkowitz, above, has joined the company as vice president of client services. Berkowitz will maintain strategic client relationships, while further developing Seven Step's high-performing strategic directors and delivery teams across its Boston and Denver offices.
• Newton-Wellesley Hospital's board of trustees voted to approve the search committee's recommendation to name Kerry Watson as the next president of Newton-Wellesley Hospital. Watson will join Newton-Wellesley from the Duke University Health System in Durham, N.C., where he has been president of Duke Regional Hospital.

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