• Kennametal reported sharply lower profits for the fourth quarter and all of its recently ended fiscal year and said it will increase its quarterly dividend by 2 cents per share. For the quarter ended June 30, net income dropped 29 percent to $60.8 million, or 76 cents per share, while sales fell 9 percent to $671.4 million. Full-year profits slumped 34 percent to $203.3 million, or $2.52 per share, on a 5 percent decline in sales. The Latrobe toolmaker's new dividend will be 18 cents per share.
• GNC Holdings reported profit for the second quarter of $71.7 million on revenue of $676.3 million vs. $66.7 million in profit on $619.1 million in revenue over the same period in 2012. The Pittsburgh-based health and wellness products retailer said it saw revenue increases in each of its sectors: retail, franchise and manufacturing/wholesale. The results boosted GNC's stock, which closed Thursday at $51.70, up $5.06.
• Federated Investors reported flat second quarter profits and said it will hike its dividend 4 percent to 25 cents per share. The Pittsburgh investment manager reported net income of $40.4 million, or 39 cents per share, identical to its results in the year-ago quarter. Revenue declined 4 percent to $223.8 million, largely because of fee waivers on Federated's money market funds. The waivers reduced Federated's pretax income by $23.7 million, up from $17.2 million in the year-ago quarter. Assets under management increased 2 percent from year-ago levels to $363.8 billion.
• Wabtec Corp. reported second quarter net income of $112.5 million, or 78 cents per share, compared to net income of $100.8 million, or 67 cents per share, for the second quarter last year. The Wilmerding-based international freight and transit company outperformed analysts' expectations that it would earn 73 cents per share for the quarter. Wabtec's second quarter sales were $638 million compared to $610 million for the second quarter last year.
• Wesco International Inc. reported net income of $65.3 million, or $1.25 per share, for the second quarter. That's up from $58.9 million, or $1.15 per share, during the same period last year. The South Side-based manufacturer of electric and industrial products saw its sales increase by 13 percent year over year, attributing at least some of that success to its acquisitions. The company also mentioned that more acquisitions are in the pipeline. Sales growth also was driven by increased demand from the lighting industry and the steady and strong utility segment.
Impala leads the pack
The Chevrolet Impala, long the standard-bearer for mediocre cars from Detroit, has made an amazing turnaround. Consumer Reports magazine has ranked the 2014 version of the full-size car as its top U.S. sedan. It's the first time in at least 20 years that a domestic brand has beaten out cars from Germany and Japan.
Durable good orders rise
Orders for long-lasting U.S. factory goods rose in June, bolstered by a surge in aircraft demand. The Commerce Department said Thursday that orders for durable goods increased 4.2 percent last month. Orders that signal planned business investment, which exclude volatile transportation and defense orders, increased 0.7 percent in June.
RBS fined for trade reporting
Royal Bank of Scotland Group Plc, parent of Citizens Bank, was fined 5.6 million pounds ($8.6 million) for incorrectly reporting wholesale trades, from 2007 through 2013, the Financial Conduct Authority said Wednesday.
From staff and wire reports