Pittsburgh more Fortune-ate

Pittsburgh claimed seven companies on this year's Fortune 500 list of the biggest U.S. companies, one more than a year ago, according to the magazine's latest rankings. Area companies were led by U.S. Steel (No. 147), followed by PPG Industries (226), PNC Financial Services Group (231), H.J. Heinz (269), Mellon Financial (358), Wesco International (425) and newcomer Allegheny Technologies (455). Rankings were based on 2006 revenue. Overall, Wal-Mart Stores captured the top spot with revenue of $351.1 billion and profits of $11.3 billion, dethroning Exxon Mobil, which slipped to No. 2 with revenue of $347.3 billion and profits of $39.5 billion -- the biggest profit in U.S. history.

Ansoft Corp. exec exercises options

Ansoft Corp.'s Chief Technology Officer Zoltan Cendes exercised options for 50,000 shares of the South Side-based electronic design software maker's common stock according to a regulatory filing. On Monday, Dr. Cendes bought 50,000 shares at $2.56 apiece and sold them the same day for $32.16 apiece.

Cuomo calls on local banks

Downtown-based PNC Financial Services Group Inc. and two other banks with large local operations are among financial institutions being asked to provide information in an ongoing student loan probe. New York Attorney General Andrew Cuomo sent requests for information to PNC as well as Cleveland-based National City Corp. and Providence, R.I.-based Citizens Financial Group, which operates Citizens Bank. Mr. Cuomo is investigating whether banks and loan companies provided payments or other perks to colleges in exchange for being included on their preferred lenders lists. PNC spokesman Fred Solomon declined comment, National City said it "does not engage in the prohibited practices outlined by the New York Attorney General" and Citizens said it plans to cooperate.

Seagate profits slip

California disk drive maker Seagate Technologies posted worst-than-expected fiscal third quarter earnings of $212 million, or 37 cents per diluted share, down from $274 million, or 53 cents a share, a year ago. Excluding charges, per-share earnings for the three months ended March 31 was 47 cents, below Wall Street forecast. Chief Executive Officer Bill Watkins said the Scotts Valley-based firm was "disappointed" and "miscalculated" the market for its 3.5 inch disc drives, failing to anticipate the weak demand and falling prices that produced revenue of $2.83 billion, on par with the lowered guidance the company issued last week and up from $2.29 billion a year ago.

VA hospital vet Butler bound

A longtime employee of the Veterans Affairs hospital system has been named director of the Butler VA Medical Center. Patricia Nealon, who had been associate director of the VA Pittsburgh Healthcare System, will oversee almost 500 employees and an annual budget of $65 million in her new job.

Also in business ...

While still slightly below year-ago levels, local prices at the pump continue to rise, jumping 7.3 cents in the past week to an average $2.789 at self-serve unleaded pumps, AAA Fuel Gauge said ... Acusis Inc., a Downtown-based provider of medical transcription services to health care organizations, said it bought Santa Clara, Calif.-based Digital Records Corp. as part of its strategy to boost its national presence and customer base. Financial terms of the deal were undisclosed ... PPG Industries said it acquired certain assets of Champion Coatings Inc. of Houston, Texas, for an undisclosed price. Champion makes coatings for the rail, marine and overland industries ... Communications equipment and services provider Black Box Corp. said it opened a new technical support call center outside of Nashville, Tenn., to support the Lawrence-based firm's base of commercial and government customers that is expected to increase 40 percent this year.