BellSouth Expects Foreign Exchange Losses
BellSouth (BLS) was down 2.1% in midmorning after it said second-quarter income would be hurt by steep declines in the Brazilian and Colombian currencies. The big local phone company said the foreign exchange losses would trim 5 to 6 cents per share off earnings for the period and will affect its full-year results.
Aside from the currency issues, the company said it remains comfortable with earnings growth of 7% to 9% for the year.
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