Endodontists event gets to root of new care

New advancements in medical care for root canal treatment is the focus this week for 2,800 attendees at the American Association of Endodontists event at the Hawai’i Convention Center.

While most attendees are from the mainland, endodontists from Europe, Asia, South America, Canada, Mexico and elsewhere are also taking part to gather the latest findings and medical techniques to use in treating root canal patients in their homelands.

Attendees at the four-day event that runs through Saturday are expected to generate $13.2 million in visitor spending, $1.3 million in state tax revenue and 22,512 booked room nights.

This is the third time the association has held its annual session in Hawaii, following meetings in 2000 and 2006.

Microsoft earnings top analysts’ forecasts

NEW YORK » Microsoft Corp. says revenue and net income surged in the latest quarter, but much of the gains were due to sales that occurred before the launch of the latest versions of Windows and Office.

The software company’s net income was $6.1 billion, or 72 cents a share, in its fiscal third quarter, which ended in March. That was up from $5.1 billion, or 60 cents a share, a year ago and beat the 68 cents per share forecast by analysts, according to FactSet.

Revenue was $20.5 billion, up 18 percent from a year ago and matching analyst forecasts.

PepsiCo tops forecasts despite soda woes

NEW YORK » PepsiCo is selling more of its snacks and drinks around the world, even as the maker of Frito-Lay, Tropicana and Quaker Oats tries to figure out how to sell more soda in the United States.

The company Thursday reported a first-quarter profit that beat Wall Street expectations as it saw strong growth in emerging markets and benefited from a lower tax rate.

PepsiCo’s North American snacks unit also saw gains, with premium offerings such as Stacy’s pita chips and Sabra hummus performing particularly well. The popularity of Doritos and Lay’s chips also helped pick off market share from competitors.

PepsiCo said it’s confident it can raise prices in the year ahead without scaring off customers.

For the quarter, the company earned $1.08 billion, or 69 cents a share, down from $1.13 billion, or 71 cents a share, a year ago. Revenue rose 1 percent to $12.58 billion.

IBM net down due to delay on deals

NEW YORK » IBM Corp.’s first-quarter net income fell 1 percent due to delays in closing several of the technology company’s large software and mainframe computer deals. The results fell short of Wall Street’s expectations, sending IBM’s stock lower in after-hours trading.

IBM is seen as a good gauge of technology demand because it sells to major companies and governments around the world. That said, it’s not immune from economic uncertainty and currency fluctuations, which showed in the quarter’s results.

IBM said Thursday that it earned $3.03 billion, or $2.70 a share, in the January-March period. That’s down from $3.07 billion, or $2.61 a share, in the same period a year earlier. Revenue fell 5 percent, to $23.41 billion from $24.67 billion.

Unemployment aid applications increase

WASHINGTON » The number of Americans seeking unemployment benefits increased by just 4,000 last week to a seasonally adjusted 352,000. The slight gain kept applications at a level consistent with solid hiring and suggests March’s sluggish hiring may be temporary.

The Labor Department report released Thursday also noted that the four-week average, a less volatile measure, rose only 2,750 to 361,250.

Because the four-week average changes less than the weekly number, many economists say it better captures the pace of layoffs.

Macy’s denied TRO on some Penney sales

Macy’s Inc. was denied a temporary restraining order halting J.C. Penney Co. from selling some goods designed by Martha Stewart Living Omnimedia Inc. that don’t bear the Stewart brand name.

An appeals court judge in Manhattan refused to halt the sales of the goods, which are labeled under the brand "JCP Everyday," on the condition that J.C. Penney not associate the products with the Martha Stewart name in promotions or marketing.

Richard Andrias, an associate justice with the New York State Supreme Court’s Appellate Division, granted an expedited schedule for briefing and arguing Macy’s challenge to a lower- court judge’s refusal to grant a similar order blocking the sales.

Rate on 30-year mortgage falls to 3.41 percent

WASHINGTON >> Average U.S. rates on fixed mortgages fell closer this week to their historic lows, making homeownership more affordable and refinancing more attractive.

Mortgage buyer Freddie Mac says the average rate for the 30-year fixed loan dipped to 3.41 percent from 3.43 percent last week. That’s not far from the 3.31 percent rate reached in November, which was the lowest on records dating back to 1971.

The average rate on the 15-year fixed mortgage slipped to 2.64 percent from 2.65 percent the previous week. That nearly matches the record low of 2.63 percent, also reached in November.

Low mortgage rates are helping drive a housing recovery that began last year.

ON THE MOVE

The Hawaii Prince Hotel Waikiki and Golf Club has promoted: 

» Shirley Lau Chan to human resources manager. She was previously the human resources coordinator and reservations assistant manager.

» Linda Leung to Asia Pacific sales manager from catering sales manager. Before joining the hotel, she was a catering and convention services manager at Mauna Kea Resort and food and beverage manager at the Hawaiian Regent Hotel.

RevaComm has promoted Brett Kimura to vice president of operations. He was previously a web developer and IT engineer in charge of project coordination, architecture and management of RevaComm’s web development projects.