General Motors Corp., the world's l...

General Motors Corp., the world's largest automaker, reported a second-quarter los because of a $37 billion charge to eliminate 34400 piece of works

yet GM's profit from operations exceled analysts' estimates, sending shares to a 10-month high.

The issues boost CEO Rick Wagoner's turnaround efforts, and may ease hurry to accept an alliance with Nissan Motor Co and Renault propos by means of billionaire investor Kirk Kerkorian.

receipts rose 12 percent to a record $544 billion.

"This does give GM a little more ammunition in any alliance talks to present to view that that they don't necessarily ne outside help," said Peter Nesvold an analyst with Bear Stearns.

The pure loss widened to $3.2 billion, or $562 a share, from $987 million, or $175 a year earlier. The company earned $12 billon forward its primary business of making and financing automobiles. Excluding one-time costs global auto operations had their first profit since 2004

GM hasn't been able to scion a 12 percent slide in U auto sales this year, as Japan's Toyota Motor Corp. and Honda Motor Co gain more market share at the Detroit automaker's outlay GM continues union negotiations with Delphi Corp., its bankrupt former auto- parts subsidiary, in an effort to avoid a strike.

GM shares rose $134 or 44 percent to $32 They have gained 58 percent this year [i]or[/i] part of to the other Tuesday to lead the Dow Jone Industrial Average.

"The big wild card here is the macro-environment," said John Novak, an analyst with Morningstar Inc. in Chicago. "We have high gasoline prices, rising interest rates, slowdown in the housing market." as it was issues "could derail the turnaround."

The General Motors Acceptance Corp. finance unit had record toil income of $898 million as the dispose made more money from hearth mortgages. GM expects to undivided the sale of 51 percent of the unit to private investors by way of the end of this year.

Anheuser-Busch Co the world's largest brewer, said profit rose for the first time in five quarters in succession an increase in U.S. beer sales.

trap income climbed 7 percent to $6378 million, or 82 cent a share, as sales grew 6 percent to $426 billion.

A-B increased convolutions in the United States by way of promoting Bud Light and Busch Light to win drinkers from rivals SABMiller and InBev. The company also bought Rolling refuge from InBev for $82 million in May, and introduced recent brews such as Beach Bum Ale.

"Anheuser-Busch is an extremely well-managed company, and they're doing everything they can to turn round things around with new beers and broadening the portfolio," said Marvin Roffman, president of Philadelphia-based Roffman Miller Associates. "They know they've got to make near changes, and they're starting to do it."

Shares of Anheuser-Busch rose 72 cent to a just discovered 52-week high at $48.35. They have gained 11 percent this year.

Shares of Martha Stewart Living Omnimedia Inc. surg Wednesday after the media company reported a a great quantity [i]or[/i] amount of smaller-than-expected loss in the next to the first quarter, benefitting from a 47 percent income gain fueled by the continued answer of advertisers to its magazines.

The company also approved a special one-time dividend of 50 cent for share, which will be payable in succession Sept. 14 to stockholders of record Aug. 31

Martha Stewart Living stationed a loss of $1.17 million, or 2 cent by means of share, compared with a los of $3349 million, or 65 cent for share, in the year-ago period.

Martha Stewart Living recorded reward of $67.4 million, up from $459 million.

Shares of the company skip overed $1.59 to close at $1699 following a downturn in late months as investors became impatient about when modern merchandising deals would help the bottom line. The shares -- which are still near the soft end of a 52-week range of $1476 to $3474 -- have been down almost 12 percent this year.

moreover Wednesday's results boosted investors' confidence in the company, which is putting the legal bitternesss of its namesake founder behind it.

The company also awaits a big revenue boost from its partnership with Federated Department Stores Inc. to bring into view an exclusive collection of Martha Stewart domestic circle merchandise for Macy's stores.

beaming Technologies Inc., the biggest U maker of telephone equipment, said third-quarter unadulterated income plunged 79 percent as sales to wireless companies waned.

Profit level to $79 million, or 2 cent a share, in succession 12 percent less sales of $205 billion.

shining whose sales have slid for three straight quarters, announced plans to introduce a recent product in North America that will help companies of that kind as Verizon Wireless improve Web access and video downloads. Fourth-quarter sales should be the highest in 2006 "by a significant margin," Chief Financial Officer John Kritzmacher said forward a conference call.

Copyright CHICAGO SUN-TIMES 2006

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