News Archive
National | Fri, Jan 25, 2013

The Standard & Poor's 500 index closed above 1,500 on Friday for the first time since the start of the Great Recession in 2007, lifted by strong earnings from Procter & Gamble and Starbucks.

Exxon has once again surpassed Apple as the world's most valuable company after the iPhone and iPad maker saw its stock price falter.

Jan. 25 (Bloomberg) -- U.S. stocks rose, giving the Standard & Poor’s 500 Index its longest winning streak since 2004, as Starbucks Corp. and Procter & Gamble Co. reported increased profit and German business confidence beat forecasts.

Jan. 25 (Bloomberg) -- Creditors of Nortel Networks Corp., the defunct telecommunications company, failed to agree on how to divide about $9 billion in cash, the judge overseeing the mediation said.

Jan. 25 (Bloomberg) -- Apple Inc., after years of hyper growth, is starting to look more like a value stock, according to some analysts reacting to the iPhone maker’s financial results.

Purchases of new U.S. homes decreased in December, a temporary blemish as the industry wrapped up its best year since 2009 to emerge as a bright spot for the economy.

Jan. 25 (Bloomberg) -- Oil completed a seventh weekly gain in New York, the longest run of advances in almost four years, on speculation that stronger economic growth will boost demand.

as long as Congress avoids cutting spending too deeply in a budget deal and Europe's economy gradually improves.

Whatever else Manti Te’o manages to accomplish in his interview with Katie Couric, the humiliated Notre Dame linebacker will at least be proving Karl Marx right: All historical events really do occur twice, first as tragedy, then as farce.

A wallet-emptying shopping binge and New Year's debt hangover are mainstays for many consumers.

Has the stock market finally entered a comfort zone?

Sales of new U.S. homes cooled off in December compared with November but for the entire year were the best since 2009.

Jan. 25 (Bloomberg) -- Crude headed for a seventh weekly advance in New York, the longest run of gains in almost four years, amid signs of global economic growth and concern that oil facilities in North Africa are vulnerable to militant attacks.

Jan. 25 (Bloomberg) -- Gold futures dropped to a two-week low as Germany’s business confidence rose more than forecast, bolstering the outlook for Europe’s largest economy and eroding the appeal of the precious metal as a haven.

Halliburton's net income for the fourth quarter declined 26 percent on pricing pressures in the North American market and one-time charges from the Deepwater Horizon disaster, as well as acquisitions.

Procter & Gamble said Friday that its fiscal second quarter net income more than doubled and boosted its profit outlook as the maker of Tide and Pampers took back market share.

Superstorm Sandy landed one final stunning blow to New Jersey on Thursday as the state adopted rebuilding guidelines that come with sticker shock.

In an embarrassing setback for President Barack Obama, a federal appeals court panel ruled that he violated the Constitution in making recess appointments last year, a decision that would effectively curtail a president's ability to bypass the Senate to fill administration vacancies.

Yahoo Inc.'s fourth-quarter earnings report will also serve as a progress report on CEO Marissa Mayer's effort to turn around the Internet company.

Opening statements are set in a Los Angeles lawsuit that claims medical giant Johnson & Johnson knowingly marketed a faulty hip implant that left thousands of people with crippling problems or needing replacement surgeries.

International credit rating agency Fitch has downgraded Cyprus a couple more notches into junk status amid concerns that the government's support for the country' troubled banks could cost more than previously thought.

Jan. 25 (Bloomberg) -- Hostess Brands Inc., the bankrupt maker of Twinkies snack cakes and Wonder Bread, won permission to sell the majority of its bread brand assets, including its Beefsteak brand, at a Feb. 28 auction.

Jan. 25 (Bloomberg) -- Halliburton Co., the world’s second- largest oilfield-services provider, reported fourth-quarter earnings that beat analysts’ estimates as customers around the world boosted spending at the end of the year. Shares rose the most in more than a year.

Jan. 25 (Bloomberg) -- General Motors Co., which isn’t advertising on CBS during the National Football League’s Super Bowl, plans to air commercials during the television network’s pre-game programming Feb. 3, the automaker said.

Kansas plane maker Hawker Beechcraft said Friday that its key creditors overwhelmingly backed a proposed reorganization plan in a vote that moves the company closer to emerging from bankruptcy protection as early as next month.

Smartphone shipments rose 36 percent worldwide in the fourth quarter as the sleek devices supplanted personal computers and other gadgets on holiday shopping lists, according to a report released Friday.

Jan. 25 (Bloomberg) -- Takeda Pharmaceutical Co., whose best-selling diabetes drug Actos lost patent protection in August, won U.S. regulatory approval for a new treatment five years after its initial application.

It was 10 days after a gunman killed 20 first-graders and six educators in Newtown, Conn., when Tracey Hyams and her family came upon a teenager firing a lifelike toy rifle on a video game at a Massachusetts highway rest stop.

A federal appeals court has ruled that the Environmental Protection Agency is overestimating the amount of fuel that can be produced from grasses, wood and other nonfood plants in an effort to promote a fledgling biofuels industry.

Jan. 25 (Bloomberg) -- The euro rose to its strongest level against the dollar in 11 months as the European Central Bank said banks will hand back a greater amount of three-year loans than analysts estimated, boosting short-term borrowing costs.

Hostess said Friday expects to unveil a bidder for Drake's snack cakes next week, although the fate of Twinkies is still being negotiated.

Netflix remains a hot ticket on Wall Street.

Bright Horizons, a provider of child care services, has raised $222.2 million in an initial public offering of its stock.

Jan. 25 (Bloomberg) -- Treasuries fell a second day, with 10-year yields rising to the highest in two weeks, after data showed banks plan to repay more of the European Central Bank’s three-year loans than forecast, damping demand for safer assets.

Shares of child care services provider Bright Horizons jumped more than 28 percent in their first day of trading on the New York Stock Exchange.

Software development company Compuware is rejecting a $2.35 billion takeover bid by one of its largest shareholders.

Super Cold?

Honeywell returned to a profit in its fourth quarter, helped by lower pension-related costs. Its adjusted results met analysts' estimates, and revenue topped Wall Street's expectations.

The recovering housing market is fueling business at lumber, wood products and real estate company Weyerhaeuser Co., which said Friday that its fourth-quarter net income more than doubled.

Toy maker Hasbro says its fourth-quarter revenue failed to meet expectations because of weaker-than-expected demand over the holidays. It plans to cut about 10 percent of its workforce and consolidate facilities to cut expenses.

Jan. 25 (Bloomberg) -- Microsoft Corp. reported lower profit on higher revenue, after the world’s largest software maker spent more money to market its Windows operating system and lure consumers flocking to tablets and smartphones.

Jan. 25 (Bloomberg) -- AT&T Inc., the largest U.S. phone company, posted a narrower fourth-quarter loss after customers bought a record number of discounted smartphones, including 8.6 million of Apple Inc.’s iPhones.

Gains in Amcol International Corp.'s energy services division were not strong enough offset declines in its other businesses, and the company reported a 4 percent profit drop for the fourth quarter.

Oshkosh Corp. shares jumped more than 10 percent Friday after the truck maker reported a 20-percent leap in fiscal first-quarter net income and boosted its guidance for the full year.

Jan. 25 (Bloomberg) -- Bank of America Corp. Chief Executive Officer Brian T. Moynihan said that while credit hasn’t been overextended, an overly rapid rise in interest rates may rattle markets.

Positive economic news from Germany and promises of more monetary easing in Japan helped stock indexes in those countries lead most markets around the world higher Friday.

Shares of LipoScience are up on their first day of trading, but the initial public offering of the cholesterol diagnostic test maker priced well below expectations.

Verizon Wireless says it's selling space on the airwaves to AT&T in exchange for $1.9 billion and the transfer of some airwave rights from AT&T.

The first of the euro area's banks stepped forward Friday to make (euro) 137.2 billion ($183 billion) in early repayments on the cheap, three-year emergency loans they received from the European Central Bank.

German business confidence has increased more than expected this month as hopes rise that Europe's largest economy will quickly put behind it a weak patch and benefit from an easing in the continent's financial turmoil, a closely watched survey showed Friday.

Cambodia on Friday reported three new human cases of bird flu, two of them fatal, in the first three weeks of this year. That's as many cases as the Southeast Asian country reported in all of 2012.

The 787 Dreamliner was born in a moment of desperation.

Diane Burstein spends her days sifting through apartment listings and disaster paperwork and her nights lying awake with worry, her daughter and grandson sleeping feet from her in a cramped hotel room.

A Florida appellate court on Friday set aside two of the four convictions Casey Anthony faced for lying to detectives during the investigation into her missing 2-year-old daughter.

The prospects appear doomed in Virginia this year for Republican-backed legislation that would replace the state's winner-take-all method of apportioning presidential electoral votes with one that awards one vote to the winner of each congressional district.

Fri, Jan 25, 2013