Pennzoil Co.: The Houston-based energy firm reported...

Pennzoil Co.: The Houston-based energy firm reported second-quarter net income of $118 million, compared to $1.39 billion last year. Last year’s income included an after-tax extraordinary gain of $1.7 billion associated with the $3-billion cash settlement of litigation between Pennzoil and Texaco Inc. Revenue was $124.8 million, up 37%.