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Market Update : 
Verizon Profit Declines
Author: Elena Todorova
123jump.com
Last Update: 8:58 AM EDT August 01 2006

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Verizon reported Q2 earnings of $1.6 billion, or 55 cents a share, down from $2.1 billion, or 75 cents a share last year, citing charges and merger integration costs. Eastman Kodak said Q2 loss widened to $282 million, or 98 cents per share from $155 million, or 54 cents per share a year ago on restructuring charges and rising silver prices.

 
Gold in London traded at US$632.00 per troy ounce, down from US$632.58 on Monday. The U.S. dollar was mixed against other major currencies in early European trading Tuesday. The euro was quoted at $1.2739, down from $1.2768 late Monday in New York. The British pound was traded at $1.8651, down from $1.8678 and the dollar bought 114.77 Japanese yen, up from 114.56.
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