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The Reader’s Digest Association, Pleasantville, NY, lowered its fourth-quarter earnings outlook to 5 cents a share from an earlier forecast of 18 to 21

Martha Stewart Living Omnimedia Inc., New York, saw its net income drop 12.7% during the second quarter, from just under $6 million in second quarter

Amazon.com saw its net loss drop from $317.2 million in second-quarter 2000 to $168.4 million in the same period in 2001. At the same time, the Seattle-based

Weak demand and pricing pressures caused PC Connection’s sales to plummet during the second quarter, the firm said today.

Deluxe Corp., a direct marketer of checks and business forms, reported a drop in revenue but a gain in net income during its second quarter.

American Express Co. will eliminate between 4,000-5,000 jobs in its third quarter, on top of the 1,600 positions it eliminated, or announced its intent to eliminate, earlier this year. The reductions will come through a combination of outsourcing and staff reductions. …

The U.S. Postal Service said that it is $713 million in the red. In its latest financial reports, the USPS reported that mail volume is up but revenue is down for the year, which still has three months to go. …

A bill that could save the U.S. Postal Service from its fiscal crisis –by placing a cap on revenue growth– may be introduced in Congress by Aug. 2.