In the Region

Borgata's online hopes rise

Borgata's online gambling operations recorded an operating loss of $1.8 million in the quarter ended June 30, but reached a "key milestone" by breaking even in July, said Keith Smith, chief executive of Borgata's managing owner, Boyd Gaming Inc. Smith said during a conference call on the Las Vegas company's second-quarter earnings that he expected the recent downturn in online gambling revenue in New Jersey to end when cooler weather returns. Borgata's share of online gaming revenue in New Jersey was 29 percent, even greater than its 23 percent share of brick-and-mortar gambling in Atlantic City, the company said. - Harold Brubaker

Bucks apartment complex sold

TGM Associates said it sold the 238-unit Hidden Forest Apartments in Fairless Hills, Bucks County, for $21.3 million, or $89,496 per unit, to Castellan Holdings. TGM Associates is a New York real estate investor, as is Castellan Holdings. "It was a 10-year hold for TGM," said John McFadden with CBRE real estate brokerage. TGM Associates was represented by McFadden, Robert Miller, and Matt Stefanski of CBRE's Multifamily Division in Wayne. Castellan Holdings is run by brothers John and Paul Salib. - Erin Arvedlund

Astra earnings beat forecasts

AstraZeneca P.L.C., a London pharmaceutical company with operations in the Philadelphia region, reported a quarterly profit that beat analyst estimates, helped by a $200 million payment from onetime suitor Pfizer Inc. for rights to an over-the-counter version of the Nexium heartburn treatment. Profit excluding certain items declined 1 percent to $2.03 billion, or $1.30 a share, from $2.05 billion, or $1.20 a share. Sales rose 4 percent to $6.45 billion. - Bloomberg News

LaserLock wins Mexico contract

LaserLock Technologies Inc., a Washington company that was founded by Bala Cynwyd inventor Norman Gardner to develop identity-verification technology, said it signed a 10-year, $7 million contract with a Mexican gaming company for LaserLock's VerifyMe Identity Services, which will be used to authenticate players in online casinos run by the company and to meet requirements of anti-money-laundering laws in Mexico. LaserLock did not identify the company. - Reid Kanaley

Teva revenue, profit rise

Teva Pharmaceutical Industries Ltd. raised its profit forecast and reported second-quarter earnings that beat estimates as its generic division cut costs and a new version of the best-selling Copaxone drug gained traction. Profit excluding some costs rose 4 percent to $1.05 billion, or $1.23 a share, from $1.02 billion, or $1.20, a year earlier, said the Israel-based company, which has significant operations in the Philadelphia region. Earnings per share on that basis exceeded the $1.22 average of 24 analyst estimates compiled by Bloomberg. Revenue rose 2 percent to $5 billion, below the average analyst estimate of $5.09 billion. Teva's sales are benefiting from new products, including a generic version of Eli Lilly & Co.'s Evista for osteoporosis. - Bloomberg News


Poultry inspections beefed up

The Obama administration is overhauling poultry plant inspections for the first time in more than 50 years, a move it says could result in 5,000 fewer food-borne illnesses each year. Final rules would reduce the number of government poultry inspectors. But those who remain will focus more on food safety than on quality, requiring them to pull more birds off the line for closer inspections and encouraging more testing for pathogens. More inspectors would check the facilities to make sure they are clean. The changes would be voluntary, but many of the country's largest poultry companies are expected to opt in. - AP

CFPB hits bank fees

The fees that banks charge debit-card users who overdraw their accounts usually cost more than the items being bought. That's the result of a study that the Consumer Financial Protection Bureau released. Large banks have generally charged a $34 penalty when people overdraw their debit-card accounts, even though most of the purchases involved were for less than $24. And the penalties are charged even though most accounts return to a positive balance within three days, the study found. Banks profit by collecting more than half their checking-account income from these fees. The study builds on a 2013 report that found that heavy overdrafters, on average, face $900 in additional costs each year. - AP

Mortgage rates decline

Mortgage company Freddie Mac said the nationwide average for a 30-year loan slipped to 4.12 percent from 4.13 percent last week. The average for the 15-year mortgage, a popular choice for people who are refinancing, declined to 3.23 percent from 3.26 percent last week. - AP

Jobless claims up

More people sought U.S. unemployment benefits last week, but jobless claims remain at prerecession levels. Weekly applications for unemployment aid rose 23,000 to a seasonally adjusted 302,000, the Labor Department said. The prior week's claims were revised down to 279,000, the lowest since May 2000. The four-week average, a less volatile measure, fell 3,500 to 297,250 - the lowest average since April 2006. - AP