Thursday, August 4, 2011

Business Briefs: LifePoint reports 2Q profit gain

NEW YORK— LifePoint Hospitals’ stock rose 4 percent in Nasdaq trading Friday after the rural hospital chain reported better-than-expected earnings for the second quarter.

The company said profit grew to $40.3 million, or 77 cents per share, from $37.6 million, or 69 cents a share, a year ago. Revenue rose 11 percent, to $877.6 million.

Brentwood-based LifePoint had 52 hospitals at mid-year, with locations in 17 states. The stock rose to $37.10 per share, up $1.50, by Friday’s closing.

“We will continue to target acquisitions in faster-growing markets while maintaining our focus on being the sole provider in smaller communities,” CEO Bill Carpenter said in a statement.

— Associated Press

AT&T aims to slow top 5% of users

AT&T Inc. said Friday that it’s going to start limiting speeds for the 5 percent of its customers with “unlimited” data smartphone plans who clog the airwaves the most. The measure will take effect Oct. 1, AT&T said, and is intended to alleviate network congestion.

AT&T says it will warn users when they are approaching joining the top 5 percent.

AT&T won’t count data use over Wi-Fi.

— Associated Press