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Ford Motor Co.‘s (NYSE:F) sales dropped 4 percent during July while it lost ground gained last year when its Japanese rivals showed low inventories. Ford’s best-seller is the F-Series pickup, which was flat in comparison to last July. Sales of the Escape small SUV dropped 12 percent following the recall of the latest version due to safety issues.
Frontier Communications (NYSE:FTR) showed earnings of 5,400 broadband subs added. The company also saw a net increase of 6,300 video subs (satellite adds cancel out Verizon FiOS losses). Frontier’s Local/long distance revenue fell 9 percent year over year, and its data/Internet revenue dropped 1 percent. Average revenue per residential and business subs both increased a bit quarter over quarter. Access lines dropped 8 percent year over year to 5.07 million, with its headcount up by 402 to 15,332. Th balance sheet shows $7.67 billion in long-term debt, which is another $617 million due within a year.
Zynga (NASDAQ:ZNGA) COO John Schappert, who was poached last year from Electronic Arts, is no longer in charge of overseeing game development, according to Bloomberg. Now, gaming EVP Steve Chiang along with mobile chief David Ko will report directly to CEO Mark Pincus. Schappert’s demotion is said to be part of an overhaul which started in early July, lead by Pincus. Its goal is to prioritize mobile gaming, though it probably is related to Zynga’s recent performance.
Boeing (NYSE:BA) and General Electric (NYSE:GE) pulled an engine off a new 787 Dreamliner jet for testing since U.S. officials made the decision to open an investigation regarding why the unit spewed debris over the weekend. An engine specialist and a metallurgist will be sent by The National Transportation Safety Board to a GE facility located in Cincinnati to coordinate the examination, the agency claimed Tuesday in a statement.
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