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July 26, 2012 06:09 PM

Thursday Evening Business Brief

Stocks saw another big swing today, this time the move was to higher ground. The Dow rose 212 points, or 1.7 percent, to 12,888. The S&P added 22 points to 1,360. And the Nasdaq gained 39 points to 2,893. It was the Dow's fifth gain of 200 points or more this year.

  • Facebook shares have been taken lower in after-hours trading. That's despite reporting stronger-than-expected revenue in the social media company's first earnings report since its rocky initial public offering two months ago. At last check, the stock was down about 10 percent.
  • Starbucks reports its profit was shy of Wall Street forecasts in the latest quarter. Its shares got hit in after-hours trading as it lowered the outlook for the current quarter.
  • Online retailing giant delivered second-quarter earnings that matched Wall Street's meager expectations. The revenue gains and outlook for the current quarter fell short of forecasts.
  • The widest drought to hit the U.S. in decades is getting worse with no signs of letting up. State officials are urging conservation and more ranchers are looking at selling cattle.
  • Business
  • Economy/Stocks

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