Good morning and a happy August, Eyes on the Street!
Comcast Corp. reported strong quarterly results that wowed Wall Street on Wednesday, the Inquirer reports. Comcast announced an 11.6 percent jump in operating income and a 7 percent rise in revenue. Shares closed at $45.08, up $2.37 or 5.55 percent from Tuesday’s close. The Philadelphia-based company employs about 6,000 people in the city.
Officials broke ground this week on a $500 million project linking the Pennsylvania Turnpike to I-95. The project will start in Bensalem, Pa. near Exit 351 and is expected to be complete in 2018.
The Philadelphia School District canceled several public meetings after the first in a series on a new school evaluation method got contentious. School officials sought feedback from parents on a new school report card or evaluation. Parents and community members asked, instead, why officials are seeking this information when the schools are in a crisis born from scarce funding and layoffs. After the first meeting, the district canceled the remaining meetings with little notice.
The nonprofit Philadelphia School Partnership announced it will give $3 million to two North Philadelphia public schools. The two elementary schools, William D. Kelley in Brewerytown and James G. Blaine in Strawberry Mansion, are both facing a 50 percent increase in enrollment due to nearby closing schools.
This past fiscal year Temple University raised more money than ever. The university raked in $65.8 million in donations, which tops its previous record of $65.4 million in 2008. This year’s donations represent a 45 percent increase over the university’s average annual fundraising of $45.5 million. Money pledged to scholarships rose 88 percent, from $8.8 million in 2012 to $16.5 million.
Center City’s Franklin Square celebrated the seventh anniversary of its revitalization yesterday. One of William Penn’s original 17th century squares, Franklin Square languished as a desolate space for years before it was overhauled as an attraction for residents and tourists.