Breaking News: KeyCorp (NYSE:KEY), DOW Chemical (NYSE:DOW), AmEx (NYSE:AXP), Coca-Cola (NYSE:KO)

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Responding to client preferences and changes to regulations relating to overdraft fees taking effect, KeyCorp (NYSE:KEY) is adding a new checking account that offers a variety of solutions based on a customer's banking needs, including flexible overdraft fee options and ID Theft protection. The account will be available to clients on August 15, 2010. KeyBank’s new Key Coverage Checking is a personal checking account that includes the waiver of the first two overdraft or return item fees assessed each month. In addition, no overdraft fee will be assessed if an account is overdrawn by $10 or less, based on the end-of-day balance. A reduced overdraft fee of $18 is assessed if the account has a negative end-of-day balance of $10.01 to $100. If the account remains overdrawn for five or more consecutive business days, a recurring overdraft fee is charged. Key Coverage Checking is available for a $10 monthly fee and is a non-interest bearing checking account. – PRNewswire  KeyCorp shares are trading at $7.85, up +1.42% (+$0.11) and volume is currently at 2.6M shares traded.

Jacobs Engineering Group Inc. (NYSE:JEC) said Tuesday it has won a contract from Dow Chemical Co. (NYSE:DOW) to help manage the expansion of Dow's facility in Fombio, Italy. Jacobs did not disclose financial details of the agreement. The company's stock rose $1.10, or 3 percent, to $37.61. – AP  Update: JEC shares are trading at $37.27, up -0.9% or $-0.34.  DOW shares are trading at $25.6, up 0.08% (+$0.02) with 1.98M in volume.

Sprint (NYSE:S) this morning said that Dan Schulman, who has been president of the company’s Prepaid unit, is leaving the company August 23 to become Group President for Enterprise Growth at American Express Company (NYSE:AXP). Schulman was previously CEO at Virgin Mobile, and before than had been CEO at Priceline. – Barron’s  Sprint shares are trading down to $4.64, -1.49%/$-0.07.

The Coca-Cola Company (NYSE:KO), the world’s largest soft-drink maker, posted a 16 percent increase in second-quarter profit as North American sales volumes climbed for the first time since 2007. Net income rose to $2.37 billion, or $1.02 a share, the company said today in a statement. Excluding some items, profit was $1.06, compared with the $1.03 average of estimates compiled by Bloomberg. Beverage volume in North America advanced 2 percent, compared with a 1 percent decline a year ago.  – Bloomberg

 

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