Alcoa Inc. said Monday it posted a second-quarter profit as it sold more aluminum in the commercial vehicles, packaging and construction markets.
The Pittsburgh manufacturing giant kicked off earnings season by reporting net income of $136 million, or 13 cents a share, for the quarter ending June 30. That compared with a loss of $454 million, or 47 cents a share, a year ago.
Revenue rose to $5.19 billion from $4.24 billion.
The second-quarter results for Alcoa, which has an Auburn plant, topped estimates from analysts surveyed by Thomson Reuters.
GM Corvette buyers can help build engines
Corvette owners could soon be revving up an engine they built with their own hands.
General Motors Co. said Monday that buyers who order a 2011 Corvette Z06 or ZR1 can help assemble their cars high-performance LS7 and LS9 engines. GM believes the program is the first of its kind in the industry.
The engines will be built at GMs Performance Build Center in Wixom, Mich., where GM assembles all of its high-performance engines by hand. The facility can assemble up to 15,000 engines per year, GM spokesman Tom Read said.
Read said it will take buyers about six hours to assemble, adjust and clean their engines with the parts provided. A skilled technician will supervise.
Johnson & Johnson to add device maker
Johnson & Johnson said Monday it will pay $480 million for medical device maker Micrus Endovascular, adding a range of treatments for stroke and brain aneurysms.
Johnson & Johnson said it will pay $23.40 per share, marking a 5.5 percent premium to Micrus closing price Friday. Both companies boards approved the deal, though it still needs shareholder approval. It is expected to close during the second half of 2010.
Micrus, based in San Jose, Calif., focuses on devices aimed at treating stroke and aneurysms. Revenue reached $91.1 million in the fiscal year ended in March.
Johnson & Johnson is the parent of Warsaw-based DePuy Orthopedics.
Avon buys Silpada for $650 million
Avon Products Inc., a direct seller of beauty products, agreed to buy Silpada Designs for at least $650 million in an effort to expand its jewelry business, the company said Monday.
Silpada, based in Lenexa, Kan., is a direct seller of sterling silver jewelry in the U.S., Canada and the U.K. Avon said Silpada will continue to operate as a standalone business with its existing 32,000 independent sales representatives.
Local BBB warns of credit card scam
The Better Business Bureau of Northern Indiana is warning consumers about scammers calling homes in the area purporting to represent Three Rivers Federal Credit Union or Garrett State Bank.
In some cases, the scammer asks whether the consumer wants to lower his credit card interest rate. Other times, the scammer warns an account has been accessed by an unknown entity. The caller asks for bank account or credit card information.
These calls are part of a fraud, the bureau said.
For assistance, call the Better Business Bureau at 423-4433 or 1-800-552-4631 .