Also
* Revlon Inc. reported its 15th consecutive quarterly loss and a drop in cash, but executives expressed confidence that the company could meet the requirements of its credit facility and generate cash to expand its business. The company’s second-quarter loss from continuing operations, excluding special items, widened to $35.4 million, or 68 cents a share, from $18 million, or 34 cents, a year ago. Sales fell 4.3% to $308.2 million.
* Nike Inc. said it would ask the U.S. Supreme Court to review a California Supreme Court decision that ruled the world’s largest maker of athletic shoes can be sued over ads that said it treated overseas workers fairly.
* EchoStar Communications Corp. said it will start selling its satellite television receivers through 1,900 Wal-Mart Stores Inc. stores. Financial terms of the agreement with Wal-Mart , the world’s largest retailer, were not disclosed.
* Lockheed Martin Corp. agreed to pay $2.1 million to settle claims that a subsidiary overcharged the U.S. for contracts on the Trident missile programs, the Justice Department said. The Justice Department claimed Lockheed’s Tactical Systems Division improperly charged the Navy for a series of “false and fraudulent” contracts from 1988 to 1996. The subsidiary was part of Unisys Corp. at the time.
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