In Brief
[naviga:h2]Carr joins Eagle newsroom staff[/naviga:h2]
Andrew Carr recently joined the Butler Eagle’s newsroom staff, covering courts.
He comes most recently from the Bedford Gazette, where he served as associate editor, covering police and court issues, as well as several school and government boards. He previously worked at the The Sentinel in Carlisle and The Post-Journal in Jamestown, N.Y.
Carr has covered police and court issues since 2010.
Carr is a 2009 graduate of Indiana University of Pennsylvania’s journalism program and a 2005 graduate of Warren High School.
[naviga:h2]Under Armour puts on the brakes[/naviga:h2]
BALTIMORE — After years of rapid growth, Under Armour has no plans this year to jump into new businesses or look for new U.S. retail partners to sell its products. Instead, this is a year to step back and reset.
That message, delivered Thursday by UCEO Kevin Plank, came as the Baltimore-based brand announced its first quarterly loss since it became a public company in 2005.
The loss was smaller than expected, sparking a rally that sent Under Armour’s stock up nearly 10 percent to $19.82 a share, but reflects significant challenges to its maturing business. Sales growth has slowed amid the closures of key retailers and tepid demand for its athletic wear.
[naviga:h2]Honda financials on the upswing[/naviga:h2]
TOKYO — Honda reported Friday an $864 million profit for January-March, a turnaround from the loss it racked up a year earlier, as the Japanese automaker recovers from costs for a massive air-bag recall.
Quarterly sales rose 2.9 percent. The performance exceeded forecasts by analysts at FactSet.
Tokyo-based Honda, which makes the Accord sedan, Odyssey minivan and Asimo robot, said an unfavorable exchange rate and research spending that chipped away at profits were offset by lower recall expenses and cost cuts.
[naviga:h2]Exxon’s profit more than doubles[/naviga:h2]
IRVING, Texas — Exxon more than doubled its profit in the first quarter as rising crude prices magnified the cost cuts made by the company as energy prices tumbled.
The Irving, Texas, company earned $4.01 billion, or 95 cents per share, for the three month period, up from $1.81 billion, or 43 cents per share, a year earlier.
It’s the first year-over-year profit gain for Exxon since the third quarter of 2014, when the price of oil was just beginning a plunge that took it below $30 a barrel.
Analysts surveyed by Zacks Investment Research expected 85 cents per share.
Exxon does not adjust its reported results based on one-time events such as asset sales. Exxon’s revenue surged to $63.29 billion from $48.71 billion, but fell short of the $64.35 billion that analysts polled by Zacks were calling for.
