[naviga:h3]Intel’s microchip domination ending[/naviga:h3]

SEOUL, South Korea — Intel’s more than two decade-long reign as the king of the silicon-based semiconductor is poised to end today when South Korea’s Samsung Electronics elbows the U.S. manufacturer aside to become the leading maker of computer memory chips.

Samsung reported record high quarterly profit and sales today. Analysts say it likely nudged aside Intel in the April-June quarter as the leading maker of semiconductors, the computer chips that are as much a staple of the 21st century wired world as crude oil was for the 20th century.

Samsung said its semiconductor business recorded $7.2 billion in operating income on revenue of $15.8 billion during the April-June period.

Intel, which reports its quarterly earnings later today, is expected to report $14.4 billion in quarterly revenue.

[naviga:h3]VW leaves scandal behind in quarter 2[/naviga:h3]

FRANKFURT, Germany — Volkswagen’s profit more than doubled in the second quarter as the German carmaker benefited from a growing European economy and moved past one-time costs for its diesel emissions scandal in the U.S.

After-tax profit rose to 3.2 billion euros ($3.7 billion) from 1.2 billion in the same quarter a year earlier.

Last year’s result was burdened by 2.2 billion euros in costs from the diesel scandal. No such one-time charges were reported for this year’s quarter.

Despite the rise, the profit was short of the 3.3 billion euros foreseen by market analysts as compiled by financial information provider FactSet.

Sales for the group and all its brands, which include Volkswagen, Audi, SEAT, Skoda, Bentley and Lamborghini, rose 4.7 percent.

[naviga:h3]Southwest tops 2Q forecasts[/naviga:h3]

DALLAS — Southwest is reporting second-quarter net income of $746 million.

On a per-share basis, the Dallas company reported profit of $1.23 today. Earnings, adjusted for non-recurring costs, came to $1.24 per share, or 4 cents better than industry analysts had expected, according to a survey by Zacks Investment Research.

The airline posted revenue of $5.74 billion in the period, also edging out expectations.

Shares of Southwest have risen 19 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 11 percent.

[naviga:h3]Hershey’s earnings beat expectations[/naviga:h3]

HERSHEY — Hershey on Wednesday reported second-quarter net income of $203.5 million.

The company said it had profit of 95 cents per share. Earnings, adjusted for non-recurring costs, came to $1.09 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The chocolate bar and candy maker posted revenue of $1.66 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $1.65 billion.