Dow suffers week’s fourth triple-digit loss

Conflicting economic reports frustrated investors Friday, prompting them to bail further out of the stock market. The Dow Jones industrial average plunged as much as 201 points before trimming its loss to 117, its fourth triple-digit drop in five sessions.

It was the eighth-straight losing week for Wall Street, and the 694.97 points the Dow lost this week was its largest weekly point decline since Sept. 21 when it plummeted 1,369.70.

The market’s three major indexes have not finished positive for the week since mid-May. Rather, stocks have tumbled on persistent worries over corporate bookkeeping practices and earnings.

Trader David Miranda, above left, hides his eyes as another trader, right, looks on while the market fluctuates on the floor of the New York Stock Exchange.

Banking: First National of Nebraska seeks to de-register stock

First National of Nebraska Inc. is seeking to return to what amounts to private ownership after 34 years of public stock trading.

The banking company is seeking to de-register its stock with the Securities and Exchange Commission by reducing the number of its shareholders to below 300. That is the level that requires First National to meet registration and reporting requirements under SEC rules.

Under a buyback aimed at reducing the number of shareholders, the company offered $3,500 per share to owners of 99 or fewer shares of its stock. First National said the buyback has dropped the number of shareholders to fewer than 240.

First National of Nebraska owns First National Bank of Omaha, First National of Colorado, First National Bank of Kansas, and about a half-dozen other banks serving Colorado, Kansas, Nebraska, Texas, Illinois and South Dakota.

Energy: Williams considers selling central gas pipeline system

Williams Cos. is weighing the sale of a 6,000 mile natural gas pipeline system in an effort to bolster its balance sheet.

The Tulsa, Okla.-based energy company said Friday that several undisclosed parties have expressed “strong interest” in its Central pipeline, but terms of a potential sale aren’t known yet.

Williams has been restructuring its business since last December, announcing plans to raise cash through equity and other securities offerings, asset sales and reduced spending. Earlier this month, Williams said it would sell a Kansas natural gas gathering system for $100 million.

Williams’ Central system transports natural gas from Kansas, Oklahoma, Texas, Wyoming and Colorado. The system’s capacity is 2.3 billion cubic feet of gas a day. Central has headquarters in Owensboro, Ky., and employs about 368 people.

Earnings: GE reports profit increase

General Electric Co. announced a 14 percent rise in profits for the second quarter, and chief executive Jeff Immelt pledged his personal honor would be behind any financial statements the company makes.

The huge conglomerate said Friday it earned $4.4 billion, or 44 cents per share, in the three months ended June 30, compared with earnings of $3.9 billion, or 39 cents per share, in the same quarter last year.